In places like Squamish where rising rental costs are making it hard for many people to stay afloat, a new piece of proposed provincial legislation may offer a little relief.
Victoria has started deliberating on a law that the province says will close a major loophole in fixed-term leases and improve the rights of renters throughout B.C.
If these amendments to the Residential Tenancy Act and Manufactured Home Park Tenancy Act are passed, landlords will no longer be able to bypass annual rent control, meaning renters will now be protected against massive rent hikes at the end of a lease.
“We are protecting the rights of renters who, for too long, have been left open to unfair and unjustified rent increases,” said Municipal Affairs and Housing Minister Selina Robinson in a news release.
The proposed changes would crack down on landlords’ ability to use a vacate clause in fixed-term tenancy agreements, forcing them to invoke the clause in certain circumstances only.
It would also limit rent increases between fixed-term tenancy agreements with the same tenant to the maximum annual allowable amount, which currently rests at currently two per cent, plus inflation.
If passed, the new rules will apply to both new and existing tenancy agreements.
The legislative amendments will also streamline the dispute resolution process for the return of security deposits.
If a landlord doesn’t return a security deposit, a tenant will be able to apply for a monetary order through an expedited process. This will ensure that tenants get their deposits back more quickly – three weeks instead of waiting up to six months.
