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Rental Corner: Are You Aware of Bill 44?

Bill 44 was enacted to remove all rental restrictions in strata corporations.  Any strata corporation bylaws that do not allow rentals or limit the number of rentals are no longer enforceable.

What does it mean to you as an investor in a strata corporation?

What if you are on a waitlist to rent your investment unit?  Now, you can rent your unit any time as the waitlist is no longer valid due to Bill 44.  No more approval for rentals is required from the strata corporation.

However, the strata corporation still requires the submission of a Form K by the investor owners or their agents under the B.C. Strata Property Act.  Form K is the Notice of Tenant’s responsibilities for the tenants to abide by the bylaws and rules of the strata corporation.  The requirement for filing the Form K with the strata corporation is not a rental bylaw.  Failure to do so could subject to a fine according to the bylaw of the strata corporation.

Our RHOME team ensure that the Form K is filed with your strata corporation upon signing of the tenancy agreement.  We have a team of experienced licensed Property Managers who can assist you with the day-to-day management of your investment unit. 

Please contact RHOME at 604-591-6060 if you are interested in our rental services.