Happy New Year! As we begin a new year, it’s a great time to reflect on the changes and challenges that the rental housing industry has faced over the past few years. It’s also a great time to look forward to what may lie ahead for our industry and LandlordBC as an association.
Last week, the B.C. Government announced that it will increase the Residential Tenancy Branch’s (RTB) operating budget and staffing by 40 per cent to speed up the dispute resolution process and reduce waiting times. This additional funding will add as many as 50 new full-time employees. The full government announcement is available here.
LandlordBC is pleased that the B.C Government is increasing RTB funding, as this is something we have been advocating for the rental housing sector for the past few years. In fact, we wrote about the need for increased funding and timely enforcement of legislation in the winter 2022 edition of The Key magazine (published in December 2022). This new investment will help alleviate financial concerns for landlords by allowing them to resolve rental disputes faster, and it will also ensure that their units are available to provide housing in British Columbia at a time when it’s needed most.
In 2023, LandlordBC will continue to liaise both with the B.C. Government and other stakeholders on behalf of our sector. We work diligently to keep you updated, our members are always kept well informed of our continuous advocacy efforts as well as any industry developments. If you aren’t a member yet, please consider joining LandlordBC to help in our advocacy efforts.
We have a very exciting year ahead with a mix of in-person and virtual events to accommodate our members from across British Columbia. Our first event of the year will be a virtual event on February 9th and it will cover a variety of topics including an industry update from Canada Mortgage and Housing Corporation (CMHC), and a review of the brand new updates coming to LandlordBC’s Residential Tenancy Agreement. Members can get more information and register here. Our annual schedule will be available soon so make sure to keep an eye out for LandlordBC’s member e-newsletters for more information on all our upcoming events.
Wishing you a happy and healthy new year! We look forward to continuing to serve you in 2023.