To address the issue of housing affordability for British Columbians, the Province has set a target of creating 114,000 new units of affordable market rental, non-profit, co-op, supported social housing and owner-purchase housing.
- This will be accomplished in partnership with local governments, the federal government, First Nations and Indigenous organizations and the private and non-profit housing sectors.
- The B.C. government is strengthening services for landlords and tenants through changes to legislation and by increasing resources for the Residential Tenancy Branch.
- The Office of the Superintendent of Real Estate has announced new rules to improve consumer protection in the real estate industry, including prohibiting realtors from acting on behalf of both the buyer and the seller on the same deal: https://www2.gov.bc.ca/gov/content/governments/organizational-structure/ministries-organizations/central-government-agencies/office-of-the-superintendent-of-real-estate/news
- The Province is investing in new housing options for British Columbians:
- $208 million over four years to support the construction of 1,700 new units of affordable rental housing in communities throughout the province: https://news.gov.bc.ca/releases/2017FIN0024-001557
- $291 million to support the construction of 2,000 modular housing units for people who are homeless and at risk of homelessness and more than $170 million over three years to provide 24/7 staffing and support services: https://news.gov.bc.ca/releases/2017PREM0090-001649
- To date, more than 1,000 modular homes have been confirmed for the cities of Kelowna, Penticton, Prince Rupert, Smithers, Terrace, Surrey, Vancouver and Vernon.
Support for renters and landlords
- To help renters, the B.C. government has strengthened protection from unfair rent increases by closing what is known as the fixed-term lease loophole and eliminating the geographic rent increase clause in the residential tenancy regulation and in the manufactured home park tenancy regulation: https://news.gov.bc.ca/releases/2017MAH0021-002036
- The Province is providing $6.8 million in new funding to the Residential Tenancy Branch to reduce wait times for tenancy disputes and to establish a new compliance unit to take action against landlords and tenants who are repeat or serious offenders: https://news.gov.bc.ca/releases/2017FIN0024-001557
- The Province launched a new online application that makes it easier and faster for tenants and landlords to apply for dispute resolution: https://news.gov.bc.ca/releases/2017MAH0005-001707
- The B.C. government is developing a comprehensive provincial housing strategy to make housing more affordable for British Columbians.
- As well, the provincial government is examining what will be needed to close speculation loopholes in B.C. real estate.
- The Province will be working with local governments and community partners to develop a homelessness action plan to reduce homelessness through permanent housing and services.
Lindsay ByersMedia Relations
Ministry of Municipal Affairs and Housing