Whereas there is a shortage of long term rental accommodation in British Columbia; And whereas there are elements of the Residential Tenancy Act, including limits on allowable rent increases and controls on tenancy agreements, that are a disincentive to the development of new long term rental accommodation housing stock; And whereas existing homeowners are reluctant to enter the long term rental accommodation market due to the widespread protections afforded tenants under the Residential Tenancy Act: Therefore be it resolved that UBCM request the Minister Responsible for Housing to review the Residential Tenancy Act to identify and address elements of the Act that discourage development of new long term rental accommodation housing stock and that discourage existing homeowners from offering long term rental accommodation.
Ministry of Municipal Affairs Housing One of the Provinces top priorities is supporting our local governments in addressing housing affordability for British Columbians both renters and buyers. To help address this goal, the Minister of Municipal Affairs and Housing, has met with several mayors to discuss comprehensive housing solutions. The ministry has received UBCMs Housing Strategy and looks forward to continuing to work together on recommendations included in the report. The Residential Tenancy Act strives to strike the right balance between the rights of landlords and tenants. Our government will continue to do all we can to ensure that the Residential Tenancy Act protects renters without discouraging investment in rental housing.