LandlordBC Advocacy Update: Important Changes to Personal Use Notice Period
We are pleased to share an important update resulting from our continued advocacy on behalf of landlords in British Columbia. On August 1st, 2024, the Housing Minister, the Honourable Ravi Kalon, announced amendments to the Residential Tenancy Regulation, adjusting the notice period when issuing a notice to end tenancy due to the sale of the property for personal use by the purchaser from four months to three months. This change is aimed to address the needs of landlords selling their properties and purchaser, notably first-time homebuyers.
These amendments, effective August 21, 2024, were introduced following substantial feedback from industry stakeholders, including our recent discussions with the Minister. The original four-month notice period presented significant challenges, particularly for first-time buyers under Canada Mortgage and Housing Corporation (CMHC) programs, which necessitate property vacancy upon possession. The mismatch between mortgage commitments and notice periods also posed potential disqualification risks for financing.
Key changes include:
- The notice period for evictions due to the sale of the property for personal use by the purchaser or their close family members has been reduced to three months.
- The dispute period for tenants has been adjusted to 21 days.
While this development is a positive step, LandlordBC continues to advocate for the removal of the ban purpose-built rental buildings with five or more units from the personal use notice to end tenancy. We believe this exemption is crucial and will persist in our efforts to achieve this, or at least secure well-considered exceptions.
Landlords who plan to move into the rental property themselves, or have a close family member move in, will still need to to give tenants four months’ notice.
We are committed to ensuring that your voice is heard and will keep you updated on further developments. We thank you, our members, for your continued support.
(Source: Landlord BC https://mailchi.mp/landlordbc/landlordbc-e-newsletter-august-423487?e=0c1123871c)
