VICTORIA (September 26, 2018) – BC Liberal MLA Todd Stone is calling on the NDP to focus on increasing the supply of housing across the province instead of playing games with renters, landlords, builders, and the BC economy.
“What you have here is yet another NDP policy failure straight out of the gate,” remarked Stone. “John Horgan broke his promise to provide a $400 renter’s rebate, and instead of taking action on this rent increase policy weeks ago, putting undue stress on renters and landlords alike, he waited until today.”
In contrast to the 4.5% allowable increase announced earlier this month, the policy will now only allow landlords to increase rent by inflation.
“Landlords are now being told that when they need to do maintenance and renovations they will have to apply to the government to be able to afford it,” added Stone. “The arduous bureaucratic process to approve them will result in landlords having little incentive to renovate ageing housing stock in cities like Vancouver and Victoria.”
In Vancouver, the average age of a purpose-built rental apartment is 60 years old.
“What renters truly need is more supply, and the NDP are dithering on creating more units across the province. In fact, they are doing the opposite as housing starts are expected to decrease 20 per cent,” said Stone. “A plan to decrease supply and disincentivize maintenance of older, more affordable housing stock is going to have lasting effects on renters, landlords, builders, and British Columbia’s economy.”