Latest Amendments to the Residential Tenancy Act effective August 21, 2024.
As of August 21, 2024, the BC Provincial Government will impose new amendments to the Residential Tenancy Act requiring landlords to provide tenants with a 3-month’s notice, which includes a 21-day dispute period, when a landlord issues a notice to end tenancy on behalf of a purchaser.
These changes will support and protect renters and landlords who may be facing bad-faith evictions, and waiting long periods of time before their dispute resolution takes place.
“This amendment comes in response to significant industry feedback, including input from the Greater Vancouver Realtors, BCREA, and the Canadian Mortgage Broker’s Association of BC.”
The original 2-month notice period was extended to a 4-month notice period introduced on July 18, 2024. The amount of time a tenant had to dispute the notice was increased, from 15 days to 30 days. This created challenges for first time home buyers, particularly those who participated in the CMHC programs that require the property to be vacant at the time of possession. The increased notice period provided more time for the renter to find alternative housing, but raised concerns about misalignment with mortgage commitments, potentially disqualifying financing for the buyer.
The current 4-month notice to end tenancy, and 30-day dispute notice is still in place for landlords who personally plan to move into the property or have a close family member do so. Landlords who intend to personally occupy the rental property, or have a close family member move in, are required to reside on the property for a minimum 12 months. Landlords who evict in bad faith may be ordered to pay up to 12 months’ rent to the displaced tenant.
The Provincial Government has also introduced an online web portal requiring landlords to generate a BCeID. All landlords must generate a notice to end tenancy for personal use through the online portal. This will help educate landlords about the required conditions and risks of bad-faith evictions, while standardizing the process of serving notice.
Are you a first-time home buyer looking to purchase a property currently occupied by a renter?
Are you a landlord seeking vacant possession of your property for personal occupancy?
Contact Alwynds Real Estates Services Ltd. Our agents are up to date on all latest government changes and are happy to provide you with the best service to suit your needs.
BC Government News Release – Personal Use of Property
BC Government News Release – Personal Home Buyers