Landlord BC urging new incentives for rental construction as solution to housing crunch
Landlord BC today condemned the bidding wars for rental housing that are breaking out in near-zero vacancy conditions and called for new federal and provincial incentives to build rental housing.
It was incentives of that sort that produced much of the forty-year old multi-unit residential rental stock that forms the bulk today’s affordable rental housing.
Landlord BC’s release also demands government commitments to allow landlords to pass through rent increases driven by renovation and upgrades, a sore point with tenants facing dislocation in the process.
The City of Vancouver’s Renters Advisory Committee issued its own set of renter-friendly recommendations for legislative change late last year in a report endorsed by city council. The renters, not surprisingly, want better protection against “renoviction” and renovation-driven rent increases.
While the two sets of recommendations are often in conflict, the city committee and Landlord BC agree on the need for an overhaul of the residential tenancy laws, setting the stage for an important debate during the election campaign.