Rental Housing: A Vital Component of the Housing Market
TAGS: Real Estate Practice
REALTORS® do more than buy and sell homes—they care deeply about the communities in which they live, work and play. That's why, through BCREA, REALTORS® advocate for provincial policies that support a thriving rental housing market.
BCREA supports increasing the supply of rental stock to ensure that British Columbians have access to housing options. We also believe it is important that government legislation and regulation balance landlord and tenant rights effectively.
BCREA recently put forward this perspective by participating in the BC Government's rental housing consultation. We submitted the following six recommendations:
- Retain the current maximum allowable annual increase (2 per cent + Consumer Price Index) and the ability to go to market rent with new tenants.
- Amend the definition of "landlord" in the Residential Tenancy Act to include a strata corporation dealing with a difficult tenant.
- When protecting tenants, consider how impacts on landlords could affect rental supply.
- Encourage local governments to legalize secondary suites with minimal red tape.
- Work with local governments to encourage public acceptance of purpose-built rentals.
- Work with the federal government to encourage private sector investment in rental housing.
We believe these recommendations would increase the stock of rental housing available for British Columbians, while preserving the real estate investments individuals have made by protecting their ability to freely own, use, buy and sell property.
The task force plans to present its recommendations to the government in fall 2018.
- BCREA Final Submission on Rental Housing Task Force (June 29, 2018)
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