February 8, 2019

Condo rental bans may be on way out with B.C. empty home tax

by Tibor Bogdan
February 8, 2019

Currently, many strata properties have some type of bylaw regarding rentals. Some prohibit all rentals, some will allow them, but most of them are in between and have a bylaw in place that allows a maximum number of units to be rented out.

Judging by this article, it seems to me that the Strata property owners have the right to elect an appropriate rental bylaw for their complex. This is now another thing that government wants to take away.

Condo rental bans may be on way out with B.C. empty home tax

Forcing B.C. strata councils to remove restrictions on rentals is part of the B.C. NDP government’s speculation tax that is taking effect this year, opposition critics say.

The move was not formally announced, but guidelines for the imposition of the vacant home tax say strata councils won’t be able to restrict rentals after 2019. B.C. Liberal finance critic Shirley Bond said the change was recommended last year by the government’s rental housing task force, and “just happens to coincide with the tax taking effect.

“It certainly looks like the NDP have been planning all along to eliminate the rental restriction powers of strata councils,” Bond said Wednesday. “The NDP have been creating tax policy on the fly and the so-called speculation tax is a perfect example of that. It looks like strata property owners are next on the hit list.”

To read the full article click here: https://www.trailtimes.ca/news/condo-rental-bans-on-way-out-with-b-c-empty-home-tax/


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