New proposed legislation for BC rentals, our gov't is on a roll [emoji51]

chrisratcliffe

New Forum Member
Registered
Dec 14, 2016
8
4
3
48
whistler bc
#2
Does anyone know when this legistation might pass (or not)?
My lease is up and my landlord is exploiting this very loophole. This will be my 5th year living here and I'm faced with a 48% rent increase. My lease is a 1 year fixed term with a vacate clause.

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Matt Crowley

Senior Forum Member
Registered
Dec 14, 2013
888
401
63
Calgary
#3
@chrisratcliffe it is totally predatory, agreed. Certain members on this forum tout the advantages of fixed term leases on their Alberta properties and start off with a 3 or 6 month fixed term "trial" lease. They should be getting fines, very unethical people. Its just embarrassing that they are also "educators" in the space.

My gut thinks rent controls of some form within a year in BC. Predatory practices abound. In this forum, experienced investors who know better need to start calling out unethical practices for what they are. Totally disappointed that more people do not see this.
 

ThomasBeyer

Senior Forum Member
REIN Member
#4
Loophole now closed for new AND existing tenants in BC.

http://www.kelownanow.com/watercool...t_closes_loophole_in_Residential_Tenancy_Act/


It makes a lot of sense to close this one loophole as overall BC’s landlord-tenant act is well balanced, one of, if not the best in the country.

However, if rent is well below market expect landlord to ask tenant to leave at the end of fixed lease and to rent to someone else. Huge turnover to be expected in 2018. It does nothing to keep rents in check in tight markets across BC.

With the new stringent, dumb and utterly unnecessary OSFI rules kicking in Jan 1 demand for rentals will vastly increase as most folks can’t qualify for a mortgage anymore.
 
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darkness05

Inspired Forum Member
Registered
Sep 14, 2016
42
10
8
41
#5
I was under the impression that ALL fixed terms leases were going to end - with the exception of short term rentals that are your primary residence. That means that all fixed terms leases will be rolled into month to month and the tenant cannot be evicted at anytime, unless they breach the terms of the lease etc.

Doesn't make a lot of sense to me, because if that situation were true, then what would happen with the short term rental/summer vacation rental market? IE - investors who rent to students Sept - Apr and then rent nightly over the summer.

Has anyone been able to find a detailed description of what exactly this legislation will entail?

I do all of my leases as fixed term, so that I have a way out in case things go sideways with a problem tenant. Removing tenants once they are in is quite difficult and costly, so this is a way to protect my investment. I do NOT use this "loophole" to jack rents on my good tenants after their term is up.
 
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ThomasBeyer

Senior Forum Member
REIN Member
#6
I was under the impression that ALL fixed terms leases were going to end - with the exception of short term rentals that are your primary residence. That means that all fixed terms leases will be rolled into month to month and the tenant cannot be evicted at anytime, unless they breach the terms of the lease etc.

Doesn't make a lot of sense to me, because if that situation were true, then what would happen with the short term rental/summer vacation rental market? IE - investors who rent to students Sept - Apr and then rent nightly over the summer.

Has anyone been able to find a detailed description of what exactly this legislation will entail?

I do all of my leases as fixed term, so that I have a way out in case things go sideways with a problem tenant. Removing tenants once they are in is quite difficult and costly, so this is a way to protect my investment. I do NOT use this "loophole" to jack rents on my good tenants after their term is up.
My understanding is that ALL fixed term leases will essentially be month to month once tenancy ends.

Good bye summer rentals in the Okanagan or Vancouver area or V Island.

A gross legislative overreach in my opinion. Hello socialism in BC.