Killam Properties Rental Agreement

Expanding its portfolio and diversifying geographically through acquisitions, with a focus on newer real estate The real estate trust had a net income of $37.5 million, $9.3 million less than the $46.8 million it reported in the same quarter of the previous year. Management explained that this decrease was mainly due to the increase in fair value profits of real estate assets recorded in the third quarter of 2019. COVID-19 ImpactS Q2 ResultsA due to the economic uncertainty that many Canadians face during the beginning of the pandemic, Killam has given up on increasing rents for rent renewals as of the April 2020 rent payment. The impact of abandoning rent increases, as well as lower revenues at its nine seasonal MHC stations as a result of delayed openings, increased salaries for front-line employees, participation in the Canada Emergency Commercial Rent Assistance (CECRA) program, increased clean-up costs and increased provisions for unprobleducible debt, management estimates noI$0.8 million related to COVID-19 in the second quarter. Conference Conference CallManagement Results will host a webcast and conference call on Thursday, August 6, 2020 at 9:00 am Eastern Time to discuss these results and current business initiatives. The webcast will be available on Killam`s website at www.killamreit.com/investor-relations/events-and-presentations. A repeat will be available on the same link for 7 days after the webcast. Rental prices for equal real estate increased 3.1 per cent in September 30 compared to the previous quarter. (3) Occupancy corresponds to actual rents without a vacuum as a percentage of gross deposit rentals. Killam also delayed the distribution of rent increase notices to tenants between March and May 2020.

Since the notice required to increase rents is at least three months in most of Canada`s provinces, Killam will not begin collecting rent increases related to these notices until the fourth quarter of 2020. International students in Halifax say they are being operated by one of the city`s largest real estate rental companies, which appears to use leases that violate the non-Canadian rent law as an official policy. Jianing Xu says Killam Properties asked him to pay the rent for his Lane Cathedral apartment by three months. The odd payment contract is expressly illegal under the Nova Scotia Rent Act.

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