How trade tensions could affect renters and landlords

The Canada-US trade dispute is back after trade talks between the two countries broke down.

The US has imposed 50% tariffs on nearly $30 billion worth of Canadian exports, prompting Prime Minister Mark Carney to announce "dollar-for-dollar" retaliatory tariffs beginning September 8.

Similar concerns last year caused many prospective homebuyers to delay major purchasing decisions, and a fresh round of tariffs could once again weigh on consumer confidence and housing activity.

Higher tariffs make Canadian goods more expensive for American buyers, potentially reducing demand for Canadian exports and putting pressure on small and medium-sized businesses that rely on cross-border trade.

Economists have warned this could lead to significant job losses, making it harder for some Canadians to afford rent or save for a home.

At the same time, Canada's retaliatory tariffs are expected to raise the cost of many US imports, with retailers likely passing those costs on to consumers.

While many Canadians are finding home-grown alternatives, rising prices for imported goods from the country’s biggest trading partner can leave households with less disposable income and force difficult financial decisions, including delaying a home purchase or stretching rental budgets.

To stay ahead of potential challenges, property managers can:

• Offer multiple rent payment options, including online payments

• Set up automated reminders and early intervention plans for tenants who may be struggling

• Share information about rent assistance programs and other support resources

• Encourage landlords to maintain financial reserves for unexpected expenses or missed rent payments