In the Alberta Province of Canada, a loophole in a law meant to protect tenants from being evicted for condo conversions has been discovered that allows landlords to legally raise the rents as high as they want, effectively pricing tenants out.
"Landlords are finding several ways to circumvent a May promise from the provincial government that tenants would get a one-year notice if their building is going to be converted into condos."
"Landlords only have to give the one-year notice if they're doing major renovations and need the unit empty. But there is no cap on rent increases, which can drive away tenants, and there's nothing to stop a landlord from selling a unit when someone is living there."
"More than 4,000 apartments in Edmonton were converted to condos in the first five months of this year, nearly as many as in the whole of last year."