It's official: Stratas in BC can no longer ban rentals
Kenneth Chan - Daily Hive • December 15, 2022
A new regulation banning stratas from the ability to restrict homeowners from renting out their residential units is now in effect.
The change in provincial legislation then went into effect on Thursday, November 24, which automatically and immediately overrides any strata bylaw that restricts rentals in their building.
This policy shift is part of the provincial government’s new multi-faceted approach to tackle housing affordability.
Based on the province’s data through the Speculation and Vacancy Tax, it is anticipated about 2,300 empty condominiums across BC cannot be rented out due to strata rules that prevent property owners from renting out their units.
Based on the province’s data through the Speculation and Vacancy Tax, it is anticipated about 2,300 empty condominiums across BC cannot be rented out due to strata rules that prevent property owners from renting out their units.
It is also believed that the legislation change will open up the possibility for some condominium owners to rent out a room in their unit if they were given the opportunity to do so.
However, stratas can still ban the operation of short-term rentals — such as Airbnb — in their buildings. Existing provincial legislation permits stratas to enforce fines of up to $1,000 per day for short-term rentals that are not permitted under strata bylaws.
As of last week, only strata bylaws limiting residents to age 55 and over are allowed, with any strata age-restriction bylaw restricting ages to under 55 now invalid. Stratas can have bylaws that require one or more persons residing in the unit to have reached an age that is not less than 55 years. The provincial legislation allows any live-in caregiver, including caregivers under the age of 55.
However, stratas can still ban the operation of short-term rentals — such as Airbnb — in their buildings. Existing provincial legislation permits stratas to enforce fines of up to $1,000 per day for short-term rentals that are not permitted under strata bylaws.
As of last week, only strata bylaws limiting residents to age 55 and over are allowed, with any strata age-restriction bylaw restricting ages to under 55 now invalid. Stratas can have bylaws that require one or more persons residing in the unit to have reached an age that is not less than 55 years. The provincial legislation allows any live-in caregiver, including caregivers under the age of 55.
I Selling your home in Langley or the Fraser Valley? In this video, I share my proven 5-step process to help you sell smarter, not harder — based on 30 years of experience as a trusted local Realtor. From building the right strategy to closing the deal with confidence, you’ll see how to maximize your value and minimize your stress. ⨠What you’ll learn: 0:00 – Introduction 0:42 – Step 1: Building a Smart Selling Strategy 1:35 – Step 2: Preparing Your Home to Wow Buyers 3:05 – Step 3: Marketing Beyond a Sign in the Yard 4:25 – Step 4: Showings & Staying in Sync 5:30 – Step 5: Negotiating & Closing with Confidence đ
Ready to take the next step? Book a free consultation and let’s talk about your home-selling goals: âĄī¸ https://rly.forsale/Chat-with-Andy âšī¸ About Andy As a trusted Langley & Fraser Valley Realtor with 30 years of experience, I’ve helped hundreds of families sell their homes quickly and for top dollar. My mission is simple: to make your real estate journey as smooth and successful as possible. đ Contact Me đ
https://rly.forsale/Chat-with-Andy đ 778.835.8957 đ§ andy@andytherealtor.com đ www.AndytheRealtor.com īģŋ
Looking for your next move? Swing by our weekend open houses in Fort Langley and Willoughby. Bring your coffee, explore the neighbourhoods, and picture yourself at home. đ View More Det ails
Despite earning the nickname Trash Panda, objectively speaking, raccoons are actually pretty adorable.
