Attention all Federal Parties: We Need More Secure Purpose-Built Rental Housing

September 23, 2019

Monday October 21, 2019 is the date for the next Canadian federal election. LandlordBC is asking all parties that the following actions be taken by whoever forms government so that renters across the country can have increased confidence that private sector rental housing providers, the single largest cohort of rental housing providers in the country, will be better positioned to enhance the existing rental stock and undertake the significant risk and investment necessary to build much needed supply of new secure purpose-built rental housing.  We need action now! The stakes are very high.

Housing Policy (including poverty reduction):

• Maintain funding for the Rental Construction Financing Initiative, or equivalent stimulus for the construction of new purpose-built rental property in areas which need new rental supply specifically targeting higher cost areas like Greater Vancouver and Victoria.
• Work with the provinces and municipalities to reduce regulatory barriers that discourage new purpose-built rental housing construction.
• Fund a Portable Housing Benefit targeted to the population in greatest housing need, preferably with an adjustment to housing need to reflect the greater ability of single person and two-person households to pay for housing.
• Maintain current income support for low-income families and seniors, while preferably assisting single people and two-person households as well.

Energy Policy:

• Address the interests of tenants whose landlords pay the energy costs to heat their rented premises by including landlords in any programs which relieve the costs of heating homes, or which return carbon taxes to consumers.
• Address the interests of all tenants by including landlords in any programs which assist homeowners with the cost of energy retrofits for homes.
• Achieve energy efficiency and climate change goals by permitting building retrofits which adopt new energy saving technology to be claimed as current repairs (rather than as capital expenditures subject to the capital cost allowance provisions).

Tax Policy:

• Permit building retrofits which adopt new energy saving technology to be claimed as current repairs (rather than as capital expenditures subject to the capital cost allowance provisions).
• Take advantage of the move up effect by removing the GST from all new rental construction.
• Hold the line on income taxes and capital gains taxes.