Bill 44, Building and Strata Statutes Amendment Act, passed BC legislation and came into immediate effect on November 24^th, 2022. Premier David Eby’s Government introduced legislative changes to this act with the aim of providing a larger housing supply to the residents of British Columbia. Eby has shared with reporters that, “We just can’t have a situation where we’re leaving housing on the table when people are looking for a place to rent.” Bill 44 will change how strata (condo) corporations operate. Two of the big changes we will see with these legislation amendments include the removal in rental restrictions and age restrictions in strata (condominium) housing. 

“We just can’t have a situation where we’re leaving housing on the table when people are looking for a place to rent.” 

Rental Restrictions

Rental restrictions within strata corporations are no longer prohibited. Strata corporations will no longer be able to uphold their own bylaws pertaining to condo owners renting out their units. This new bill will allow the option for condo owners to rent out their property without the same limitations (for example, a 30 day minimum rental duration) as before. Short term rental bylaws, such as Airbnb, VRBO, etc., will still be in place, and individual strata corporations will be able to continue to ban, limit, or moderate these types of rentals as they see fit. 

As stated in the amended legislation; strata corporations are no longer allowed to screen tenants, establish screening criteria, require the approval of tenants, require the insertion of terms in tenancy agreements or otherwise restrict the rental of a strata lot. Developers will no longer be required to issue Rental Disclosure Statements and a strata corporation is no longer required to keep said documents on file. 

Age Restrictions

The other big change being introduced is the removal of age limitation bylaws. Individual strata corporations will no longer be able to restrict tenants based on age. Kids under the age of 18 will be able to reside in residential buildings that may have previously had an age restriction. The exemption to this will be for strata corporations that are entirely restricted to individuals who are 55 plus. This is the only way an age limit will be permitted in strata housing moving forward in BC legislation. The age restriction of 55 plus will not apply to a caregiver of someone who lives in one of these buildings. 

What are the impacts of Bill 44? 

Bill 44, 2022 Building and Strata Statues Amendment Act, is already seeing a mixed response from many. Investors have definitely been watching as these changes can directly impact them. 

The bill offers investors more flexibility with the removal of both rental restrictions and age limitations. This may appear very attractive to current and prospective investors. With a potential increase of investor interest in the condo market based off of these legislative changes, we may see a surge in competition for condominiums. Some feel that rental restrictions set out by strata corporations have been the main thing keeping investors from buying more units and jacking up prices. Bill 44 will make obtaining condos for investors more accessible. These changes will not only impact investors but also individuals who live in and rent strata type housing. An increased drive in the market may raise both purchase price and monthly rent for many. 

You can find the complete list of changes to Bill 44 – 2022 Building and Strata Statues Amendment Act here.