On November 24, 2022 the Strata Property Act was amended to remove sections of the Act that permitted residential rental restrictions. Strata corporations in British Columbia can no longer pass bylaws that restrict rentals or control who may be the tenant, age related or otherwise. And, as of November 24, 2022, strata bylaws that do restrict residential rentals are no longer enforceable.
There are two exceptions to this prohibition on rental restrictions:
1. 55+ Buildings are still allowable that “require one or more persons residing in a strata lot to have reached a specified age that is not less than 55 years”. This exception is to support senior housing.
2. “Short term rentals” may still be restricted and Bylaws created to prohibit this type of leasing situation.
At South Okanagan Property Management we have seen an increase in inquiries for property management in strata buildings that no longer have rental restrictions, such as a maximum allowable number of rentals permitted at one time in a complex. An increase in housing supply is always welcome.
Contact us today for Professional Property Management, we will help you get THE MOST OUT OF YOUR RENTAL PROPERTY IN SUMMERLAND, PENTICTON, OLIVER, OSOYOOS OR KEREMEOS.