Metro Article on Rent Law Changes
EDIT: Our photo has since been removed from the article but our position on the issue still stands
Today Metro News released an article outlining the changes coming to the rent laws in B.C. The article talks about landlords ‘gaming’ the current fixed term leases by using the vacate clause to force an existing tenant to sign an new tenancy agreement at rate higher than the legal rent increase allowance. It says that changes will be focused on the fixed term issues and not ‘renovictions’. The tight market in Vancouver allows for these loopholes to be exploited and the changes to the laws are very much needed.
One of our building signs was used as the featured image in the article with our logo and website in full view. Obviously the Diplomat sign is just so photogenic that the Metro couldn’t resist using it.
We just want to say that for the record we do not do ‘renovictions’ and all of our leases are standard 1 year fixed term rolling over to month to month after. Terra Crest Property Management does not condone these actions by landlords and maintains the position that legislative change is necessary to prevent landlords from ‘gaming’ and ‘strong-arming’ tenants into signing back-to-back fixed term tenancy agreements with increases above the allowable maximum increase.
Here’s another view of the Diplomat in case you can’t get enough 🙂