LandlordBC works to support rental ‘crisis’ during unprecedented low vacancy rate

Vancouver, BC, September 13: LandlordBC, the professional association representing owners and managers of rental housing in BC, condemns the recent actions of a small cohort of the rental housing industry subjecting prospective tenants to a “bidding war” process to secure long-term rental housing. 

“This behavior is completely inconsistent with the professional business practices of our industry,” said David Hutniak, CEO, LandlordBC. “Not only is this process categorically unfair to renters, it is also unfair to the vast majority of landlords and property managers who are responsible and respectful of their tenant relationships.”

In addition to the actions of some landlords, serious shortage of supply and aging rental stock are two of the greatest challenges facing landlords and tenants.

“We are in this situation in part because of the absence of sound government policies to help create more rental housing which has led to a lack of choice for tenants” said Hutniak. “Simply put, more purpose-built rental housing means more affordable housing.”     

LandlordBC’s recommends the following solutions to address the situation:

  1. Tax incentives for the building of new purpose-built rental and for the renovation and enhancement of existing rental stock to offset high land costs and construction cost.
  2. More balanced consideration for the dislocation of tenants for major renovations and new construction.  Automatically assuming landlords are acting in bad faith if they wish to invest in their buildings is categorically unfair.
  3. The ability to pass through steadily increasing costs like taxes, insurance and utility costs that far exceed the allowable increase under the Residential Tenancy Act today.  Ensure that the process is simple, transparent and fair to both tenants and landlords.
  4. Direct income support for households not tied to a specific unit or building should be expanded, whether through a federal program or through an expansion of current provincial programs.  Such “portable housing allowance” or “housing benefit” programs provide many advantages including allowing recipients the ability to choose where they live and move to take jobs, which is good for them, for business and for taxpayers, because it will drive economic growth.
  5. Modernizing the Residential Tenancy Branch including proper resourcing and training.

About LandlordBC: LandlordBC is BC’s top resource for owners and managers of rental housing. We are the largest landlord professional industry association in BC. Our mission is to give you the support and resources you need to make doing business easy and successful. LandlordBC has more than 3,300 members who own all forms of rental housing, from high-rise buildings, to investment condos, to secondary suites. Members of LandlordBC have access to education, advocacy, group programs, proprietary tenancy forms, online tools to manage and market properties, networking opportunities and operational advice.

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Media Contact: 
David Hutniak, CEO, LandlordBC
Ph: 604-733-9440 Ext 202  
Email: [email protected]