Welcoming the rental formula change
The BC Government today announced that it was accepting the recommendations of the BC Rental Housing Task Force.
Below is the media release my colleague Adam Olsen and I issued in response to the government’s announcement.
Media Release
Weaver welcomes rental formula change
For immediate release
September 26, 2018
VICTORIA, B.C. – Andrew Weaver, leader of the B.C. Green Party, and Adam Olsen, Rental Housing Task Force (RHTF) member, welcomed the government’s announcement that it has accepted the RHTF’s recommendation to change the allowable rental increase formula from the inflation plus a guaranteed 2% to inflation only (2.5% for 2019). The RHTF made the recommendation on Monday, and Weaver urged government to accept their recommendation.
“I am delighted that B.C. renters will have some relief in 2019,” said Weaver.
“When we work together to advance evidence-based solutions there is much we can accomplish. This is a sensible change that will make life more affordable without putting a dent in the provincial budget. We were also pleased to support increased funding in the budget for targeted programs like SAFER and RAP and to build affordable housing, as well as changes to the Residential Tenancy Act. We are in continuous, active discussions with government to explore further policies that we both agree will increase affordability.”
Olsen also welcomed the government’s announcement.
“It is truly rewarding to see the efforts of our collaboration become government policy,” said Olsen.
“The lack of affordable rentals has wide-ranging impact in every corner of society, from seniors on fixed income, to young people and students, to small businesses struggling to find employees. I believe this policy strikes the right balance of encouraging affordable rents while giving landlords the ability to apply for justified higher increases. I look forward to releasing the rest of our recommendations soon so that we can continue to deliver on our shared promise to address the affordability crisis.”
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Media contact
Jillian Oliver, Press Secretary
+1 778-650-0597 | jillian.oliver@leg.bc.ca
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3 Comments
Good job, landlords whining about higher costs are disingenuine, renters are getting slaughtered, even with this marginal relief. Bottom line is things are severely imbalanced, wages and costs of shelter are severely out of whack. Its a simple formula wages need to keep up and if they did peoples jaws would drop.
They have property that is costing them money, what leads you to believe they wont continue to rent out?
many, many LL will be very unhappy as property expenses such as taxes, insurance, etc, go up a LOT every year. If LL are losing money they will not continue to rent….less avail for renters. Duh.