The Provincial Government is creating three new programs to support landlords during the 2023 rental freeze.
It’s launching a Rental Unit Property Tax Subsidy that government says will provide relief and decrease landlord property tax costs.
Owners of rental units in agreements longer than six months as of December 31, 2022, may be eligible for financial property tax benefits.
The Province has also expanded the Multi-Unit Residential Building Rebate Program, which it says is an effort to increase the value of heat pump and insulation rebates, add a rebate on electric hot water heaters, remove limits for duplexes and create greater access to heat pumps for apartment building owners.
And thirdly, through Finance PEI, the Rental Property Heating Program will see a $10 million dollar investment from government allowing property owners to borrow funds for purchasing and installing equipment that is eligible for the Energy Efficiency Equipment Rebates at efficiencyPEI.
Applications for all programs will open on January 13.
