Thoughts on BC Politics and More

Last month the BC Government topped up the BC Rent Bank coffers by $11 million. This was in recognition of more renter households requiring support for unexpected or difficult renting situations. That announcement was made by Spencer Chandra Hebert, BC Government Deputy Speaker. The BC Rent Bank program is also on the radar of Housing Minister Ravi Kahlon . . . . CLICK HERE for the full story

Owners of short-term rental properties, already reeling from restrictions brought in by the BC NDP, can expect to get a double-whammy this week courtesy of the federal government. Finance Minister Chrystia Freeland is set to unveil tax code changes that would ban owners of Airbnb-style properties from writing off their rental expenses against their income, according to a report in the Toronto Star. The change, to be announced in Tuesday’s economic update, would apply to areas that already restrict short-term rentals, such as British Columbia. It would come into effect Jan. 1, according to The Star ... CLICK HERE for the full story

Lesser-known changes to housing policy are being introduced, to back up the high-profile ones   In a legislature that is currently consumed with the housing crisis, obviously the sweeping big-picture measures get most of the attention. In just the past month, two such bills reset the landscape on two major components of the pervasive housing problems

The B.C. government has introduced new legislation to regulate the rapidly expanding short-term rental market in an attempt to return homes to the long-term rental market. The laws are being put in place to crack down on a massive increase in vacation rentals by owners. Under the new rules, when passed, British Columbians will legally only be able to rent out a primary residence and one more additional secondary suite as a short-term rental ... CLICK HERE for the full story

  Do you live in Canada? Have you been impacted by pro-landlord policies, especially throughout this pandemic? Are you curious to know if your provincial government representative is a landlord or invested in real estate in some way? If so, you’re in the right place, as The Maple has created a database of provincial representatives invested in real estate ... CLICK HERE for the full details compiled by The Maple

  In recent months, there have been a number of renewed calls for the Government of Canada to remove its Goods and Services Tax (GST) on the cost of building secured purpose-built rental housing.   Advocates calling for the move assert it would have a meaningful impact on the financial viability of building much-needed rental housing, enough to push projects across the line into the realm of viability amidst the highly challenging market and inflationary conditions ... CLICK HERE for the full story