Residential Rental Market
- Individuals are concerned about their ability to pay their rent if they have been laid off as a result of COVID-19. Governments are providing various means of income support to alleviate this situation.
- Monthly rental payments are approximately $100 million in Atlantic Canada.
- About 27% of Atlantic households are renters rather than homeowners.
- Average monthly income of lessors of residential dwellings in 2018 (including rent and other income) was $165 million.
Non-Residential Rental Market
- Business are also concerned about their ability to pay their rent while their business is closed or if they are experiencing a substantial drop in revenues as a result of COVID-19. Governments are providing various means of support, including rent deferral agreements.
- There are about 179,000 business locations in Atlantic Canada. Some may rent or lease while other buildings may be owned.
- Average monthly income of lessors of non-residential dwellings in Atlantic Canada in 2018 (including rent, property management and other income) was $188 million.