Recent Changes that Affect the British Columbia Real Estate Market
STRATA CHANGES
In December, new changes to the Strata Property Act came into effect to end all strata rental restriction bylaws and to limit age-restriction bylaws.
Stratas will no longer be able to stop condo owners from renting out all, or a portion of their homes. This will open up vacant units for rental and means there will be more homes to rent across the province.
In addition to rental restrictions, age restrictions in most BC strata buildings are also being lifted (only 55+ buildings will remain). The only permitted age restriction...