Rising inflation and soaring rent prices are putting a big dent in the pockets of Canadians. Depending on your province’s rent regulations, rent increases can cause your rent to be unaffordable. The question is, how much can they increase your rent? And how often can you expect a rent hike? More importantly, how will a rent increase affect your finances? Let’s answer these important questions and take a closer look at rent increase in Nova Scotia for 2025.
Key Takeaways
- Rent increases in Nova Scotia are capped at 5% for 2025.
- Landlords must provide tenants with at least 4 months’ notice for annual and monthly leases, or 8 weeks’ notice for weekly leases, before increasing rent.
- If you can’t afford a rent increase, you should speak to your landlord. If that an consider applying for a rent supplement, or a personal loan to help you cover it.
Rent Increase In Nova Scotia: How Much More Can You Expect To Pay?
For 2025, the rent increase guideline in Nova Scotia is 5%. That means landlords are not allowed to increase rent for existing tenants by any more than 5% each year.
Let’s say you’re currently paying $2,000 a month in rent. Your landlord can increase your rent by no more than $100 (5% of $2000). So, the most your rent can go up to is $2,100.
Rent Increase Nova Scotia Notices
Landlords can increase rent at any time. They don’t have to wait until the lease end date. However, landlords cannot increase rent any more than once every 12 months.
Before increasing rent, landlords must provide tenants with at least 4 months’ notice on annual and monthly leases, or 8 weeks’ notice for weekly leases. If you signed your lease on March 1st, 2025, for instance, the next rent increase can take effect no earlier than March 1st, 2026.
What Should Be Included In A Rent Increase Notice In Nova Scotia?
The rent increase notice provided must state the following:
- Landlord’s name and contact information
- All names of tenants on the lease
- Rental property address
- Current rent amount
- New rent amount
- Effective date of the new rent amount
Interested in information about the Nova Scotia Disability Support Program? Or the NS Child Benefit?
What Can You Do If You Can’t Afford Your Rent Increase In Nova Scotia?
You may already have been struggling to meet your current rent price due to debt. But even a slight increase may be more than your current finances can handle. If so, you’ll need to take action.
Here are a few things you can do:
Speak To Your Landlord
If your landlord gives you notice that your rent will increase and you can’t afford it, speak with your landlord right away and explain your situation. If you’ve paid your rent on time every month up to this point, your landlord might be open to holding off on increasing your rent. Landlords are often willing to forgo a few extra dollars in exchange for retaining a tenant who is diligent with rent payments.
Nova Scotia Rent Supplement
If 50% or more of your gross income goes toward paying your rent, you can apply for the Canada-Nova Scotia Targeted Housing Benefit (CNSTHB). The amount you can qualify for depends on your income, family composition, and average market rent for the area you’re in.
If you qualify, you’ll receive the benefit directly in your bank account or if you prefer straight to your landlord.
Take Out A Personal Loan
Borrowing money may be a potential option if your financial issues are temporary. If you can’t afford to cover a few months’ rent and need a little time to recoup, you can use the money from a personal loan to ensure your rent is paid on time. Then, you’ll have a long time to make smaller installment payments to pay off what you’ve borrowed.
Let’s say you need 6 months of financial help to cover your rent. If your rent price is $2000 per month, that means you’d need about $12,000.
If you take out a $12,,000 personal loan at a rate of 7% over 5 years, you’d only need to come up with just over $237.61 per month, rather than $2,000 per month during those 6 months. Your loan will cover your rent, while you cover much smaller installments.
Things To Consider When Using A Loan To Pay Rent
If you have good credit, you may even be able to qualify at a low-interest rate to keep the loan as affordable as possible. You should check your credit score before applying for a personal loan to see where you’re at. You can check your score for free using Loans Canada’s CompareHub.
Pay With Your Credit Card
Credit cards make it easy to make large purchases without having to cover the full price upfront. Simply put your charge on credit, and you’ll have until the billing date to come up with the money. Otherwise, you can carry the balance until you’ve got enough cash to pay what you owe.
However, landlords don’t usually accept credit card payments as rent. Instead, they typically expect to be paid by cheque, e-Transfer, or cash.
That said, there are ways to use your credit card to pay your rent thanks to rent payment platforms like Letus (powered by RentMoola). These services let you use your credit card to pay your rent. They do so by collecting your payment and depositing it in your landlord’s bank account.
Things To Consider When Paying Rent By Credit Card
Just be wary that these services come with a fee.
Using your credit card to pay your rent makes sense if an unexpected expense has fallen onto your lap that you don’t have the money for. Maybe your car needs emergency repairs, or you need to make urgent travel arrangements. Whatever the case may be, unpredictable events can be more than what your finances can handle. In these cases, using your credit card to ensure your rent is paid on time may be worth it.
Final Thoughts
The bad news is, your landlord can (and probably will) increase your rent. But the good news is that there’s a limit on how much they can increase your rent, and how often. Make sure you know your rights when it comes to rent increases in Nova Scotia, and budget accordingly if and when your rent goes up.
