Report Reveals Extreme Concentration of Rental Housing Ownership in Halifax
A Dal Legal Aid analysis of 1,420 properties in the Halifax Regional Municipality shows that just 20 landlords control 56% of sampled units, with most major ownership groups based outside the city.
A new report by Dal Legal Aid highlights a significant concentration of rental housing ownership within the Halifax Regional Municipality (HRM). The study analyzed 1,420 properties comprising 50,759 units, which represents 77.2 percent of all registered units with five or more units in the region.
The findings indicate that just 20 landlords own 56 percent of the rental units included in the sample. Among these, nineteen owners have ties to more than 1,000 units each—a group dubbed the "1,000 Club," consisting of three firms and 16 individuals. Financial landlords, defined as entities where third-party investors benefit from real estate, account for 19.2 percent of the rental units in the report’s sample.
Geographically, the power centers are largely external to the local community. Out of nine primary ownership groups identified in the report, eight are based outside of Halifax, mostly in Toronto. In contrast, chain-managed companies made up only 3.5 percent of the sample size, single-owned rental housing accounted for 2 percent, and co-op housing represented 0.2 percent.
Mark Culligan, a co-author of the report, argues that this level of concentration poses threats to tenant rights. He states that financialized landlords are more likely to increase rents, file eviction applications, and maintain poor housing conditions. Culligan notes that these large entities may use their resources to handle tenancy court disputes, making it difficult for tenants to enforce their rights under the Residential Tenancies Act.
The report also suggests that such concentration allows few actors to exert influence over regulatory and political processes through donations. Additionally, government policies providing low-interest loans to private corporations are described as accelerating wealth and income inequality. Meanwhile, small landlords face rising operational costs due to higher electricity rates, property taxes, water bills, oil prices, and insurance premiums.
Currently, Nova Scotia has a provincial 5 percent annual rent cap, which is set to expire in 2027. Approximately 15,000 units were not included in the analysis.