text: **Rent Control Risk**
  Rent control exists in some provinces in Canada, limiting the percentage of annual rental increases to existing tenants. Killam is exposed to the 
  risk of the implementation of, or amendments to, existing legislative rent controls in the markets in which it operates, which may have an adverse 
  impact on the Company’s operations. In the provinces that Killam currently operates, Prince Edward Island, and Ontario have rent controls. As 
  well, Nova Scotia has rent control for MHCs. 
  
  **Utility and Property Tax Risk**
  Killam is exposed to volatile utility costs and increasing property taxes. Utility expenses, mainly consisting of oil, natural gas, water and electricity 
  charges, have been subject to considerable price fluctuations over the past several years. Killam has the ability to raise rents on the anniversary 
  date of its leases, subject to the overall rental market conditions, to offset rising energy and utility costs, however rental increases may be limited 
  by market conditions. Killam invests in energy efficiency initiatives to reduce its reliance on utility costs; however Killam remains exposed to 
  price volatility. The Company has the ability to fix rates through the use of swap contracts for a portion of its oil and natural gas consumption to 
  reduce the impact of fluctuations in commodity prices. To address the risk of property tax increases, Killam, along with the assistance of outside 
  consultants, reviews property tax assessments and, where warranted, appeals them. 