Strata Corporations no longer allowed to pass rental restriction bylaws?

Is the BC Government going to stop Strata Corporations and Strata Managers from passing rental bylaws?

The BC government could pass a motion to ban strata corporations from being able to restrict individual owners from renting out their condos. A new rental housing task force presented the NDP with this and other suggestions earlier this week as they try to give tenants even more protection in the wake of extremely low vacancy rates.

This task force gave the government this suggestion, along with an additional 23 suggestions this week, which include banning renovictions if the tenant is willing and able to live through the renovation.

Currently any strata building built before January 2010 has the option to enact rental restriction bylaws, as long as they can obtain a ¾ vote of the Owners.

This would change things up dramatically, as many buildings, especially older ones in Vancouver’s West End have rental restriction bylaws limiting the amount of units that can be rented out.

Nothing has been decided yet, but if you live in a Strata building, or invest in Strata properties and condos, this will be one to watch closely.

Looking for some Strata Management advice? Reach out to our Strata Management Company here and we will be glad to help!

 

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