Mobile home residents in Charlottetown are worried about paying a significant rent hike after learning the Island Regulatory and Appeals Commission (IRAC) approved a retroactive increase.
Bill Bowerbank and Evelyn Martin are among the people who owe a rent increase of six per cent, retroactive to 2013.
“All we own is the mini home. We don’t own the property it sits on,” said Bowerbank. “When you don’t own the property, it sort of leaves you in limbo.”
The 169 lots at Riverview Estate have been ordered to pay the six per cent increase dating from 2013, as well as a 0.99 per cent increase for 2014.
IRAC held a number of hearings and appeals under the Rental of Residential Property Act since May 2013 when the original owner, Hambly Enterprises Ltd., wanted to increase the rent per lot by $46.14.
That would have meant an increase of 25 per cent for some of the lessees.
This increase was quashed, but IRAC agreed upon the six per cent hike.
The approval rating for mobile home sites that year by IRAC was 1.5 per cent for 2013.
During this period, Hambly sold the estate to CAPREIT in October 2013 and this adjustment clause was included in the realty sale agreement.
RELATED: Hambly Rentals sold for $34.9 million
Though some lessees have paid off this retroactive increase, many are still on the hook, including Bowerbank and Martin.
They have lived in the Riverview Estates since 2002 and are concerned over the resale value of the mini homes within the park.
“It would make it hard to resell because a lot of the mini homes in here are older,” said Martin.
Bowerbank and Martin told The Guardian that having to pay lot rentals and a mortgage, means things could become quite costly for the lessees if the rental price goes up much higher.
The couple says since they have already paid rent for 2013, they shouldn’t have to pay for the increase that was made official after the fact.
“That should be it. That should be the done deal,” said Martin.
“Start from scratch,” said Bowerbank. “Start where it is now and go from there.”
Mobile home residents in Charlottetown are worried about paying a significant rent hike after learning the Island Regulatory and Appeals Commission (IRAC) approved a retroactive increase.
Bill Bowerbank and Evelyn Martin are among the people who owe a rent increase of six per cent, retroactive to 2013.
“All we own is the mini home. We don’t own the property it sits on,” said Bowerbank. “When you don’t own the property, it sort of leaves you in limbo.”
The 169 lots at Riverview Estate have been ordered to pay the six per cent increase dating from 2013, as well as a 0.99 per cent increase for 2014.
IRAC held a number of hearings and appeals under the Rental of Residential Property Act since May 2013 when the original owner, Hambly Enterprises Ltd., wanted to increase the rent per lot by $46.14.
That would have meant an increase of 25 per cent for some of the lessees.
This increase was quashed, but IRAC agreed upon the six per cent hike.
The approval rating for mobile home sites that year by IRAC was 1.5 per cent for 2013.
During this period, Hambly sold the estate to CAPREIT in October 2013 and this adjustment clause was included in the realty sale agreement.
RELATED: Hambly Rentals sold for $34.9 million
Though some lessees have paid off this retroactive increase, many are still on the hook, including Bowerbank and Martin.
They have lived in the Riverview Estates since 2002 and are concerned over the resale value of the mini homes within the park.
“It would make it hard to resell because a lot of the mini homes in here are older,” said Martin.
Bowerbank and Martin told The Guardian that having to pay lot rentals and a mortgage, means things could become quite costly for the lessees if the rental price goes up much higher.
The couple says since they have already paid rent for 2013, they shouldn’t have to pay for the increase that was made official after the fact.
“That should be it. That should be the done deal,” said Martin.
“Start from scratch,” said Bowerbank. “Start where it is now and go from there.”
