The Province is tying the annual allowable rent increase in 2025 to inflation at 3%, down from this year’s allowable increase of 3.5%.

New shelter beds will help move more people in Victoria, including people living on Pandora Avenue, off the street and indoors with as many as 72 new shelter beds.

From Infrastructure Canada: https://www.canada.ca/en/office-infrastructure/news/2024/08/federal-government-transfers-more-than-156-million-through-the-canada-community-building-fund-to-british-columbia.html

Victoria residents will be able to continue living in affordable homes, thanks to the Rental Protection Fund’s contribution to purchase two properties in the community.

People and communities will be better protected from structure fires as the provincial government implements legislation to enhance fire safety through an enhanced system of inspections and effective enforcement.

The Province is amending the personal use-notice period for home purchasers in B.C. to three months to improve conditions for first-time homebuyers, while ensuring that tenants have more than two months notice to find new housing.

More than 17,000 homes will be built in areas with the greatest housing needs as housing targets have been established in the third set of priority communities in the province.

The B.C. Financial Services Authority (BCFSA) has taken urgent action to protect the interests of tenants and landlords of approximately 350 properties in B.C. by freezing the bank accounts and suspending the licence of Vancouver-based rental property brokerage firm Rent it Furnished Realty.

Fifty-six people experiencing or at risk of homelessness in Victoria are moving into new homes with support services.