Photo: Tracy Prediger
New legislation aimed at bringing more affordable housing to market by scrapping strata bylaws has come under fire.
Bill 44 was introduced by Premier David Ibey earlier this week as a response to the province’s housing crisis and would see self-imposed rental restrictions on apartments lifted across the province.
Rules restricting 55-plus and short-term rentals will be left alone if they are already in a strata’s bylaws.
Tony Joventu, executive director of the Condominium Owners Association, says CHOA just sent a letter to MLAs outlining why the association thinks it’s a bad idea.
“CHOA encourages the Legislature to understand the potential ramifications of this decision, as it will affect a significant constituency that for nearly 60 years has bought into strata communities with the belief that the use of their property would allow control over the occupancy of the property and limited rents,” he says.
The organization believes the proposed legislation will do nothing to improve rental availability.
CHOA writes, “The largest loss of rental housing identified in the last 10 years is due to short-term housing.” But strata that allow short-term rentals like Airbnb and VRBO no longer have rental restrictions and will not release any housing.
Michelle Johnson, property manager at Re/Max Commercial, says there is definitely a shortage of rentals in the market. “The market is narrow, very narrow. Run an ad and if it’s available and priced right, you’ll get 100 responses.”
Gene Sarmaga, president of the Mandalay Strata Board in Vernon, says “we will be watching this legislation closely because it has the potential to significantly change our complex.”
Mandalay’s current bylaws prohibit any rentals after two years of purchasing the strata.
CHOA members also take exception to the use of the word “available.”
“Strata properties are not affordable housing. Once Strata fees, taxes, insurance and long-term renewals are calculated, landlords are not in a financial position to provide Strata rental housing in affordable communities,” they state.
The legislation received a third reading on Thursday and is expected to become law in early 2023.
Eby also announced that he will appoint a ministry dedicated to housing when he chooses his cabinet in early December.
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