2015 Changes to Residential Tenancies Act
September 1st, 2015 by Gemma Brown
A number of changes to The Residential Tenancies Act came into effect on January 1, 2015. These changes include:
- Changes have been made to the allowable portions of some capital expenditures applicable to landlords who want to apply for an above guideline rent increase;
- There are a number of changes to the Branch’s requirements to Rehabilitation Schemes proposed for all or parts of a Residential Complex including:
- Number of major components a landlord must complete to qualify has increased from two to three;
- Any improvements must not be started before the Branch issues an Order;
- Landlords must not give tenants a notice of termination for renovations prior to an Order having been issued by the Branch;
- The amount landlords must spend on rehabilitations has changed;
- Once an order is made approving the rehabilitation, a new application for the same complex cannot be made for 10 years from the date the exemption period end.
- There are a number of changes applicable to landlords who apply for a Rehabilitation Scheme for a Specified Unit including:
- Number of major components a landlord must complete to qualify has increased from three to four;
- List of qualifying major improvements within the unit has been updated;
- Definition of “voluntary vacate” has been updated to make it clear that a unit does not qualify for rehabilitation if the tenant received a notice of terminate and moved out of the unit because of that notice.
- The amount landlords must spend on rehabilitations has changed;
HOW WE CAN HELP:
We understand that these issues are very complex and could potentially result in significant costs to landlords. Please feel free to contact one of our lawyers for more information on the new rules pertaining to rental properties.
Notice: The articles on our website are provided for general information purposes only and should not be relied upon as legal advice or opinion. They reflect the current state of the law as at the date of posting on the website, and are subject to change without notice. If you require legal advice or opinion, we would be pleased to provide you with our assistance on any of the issues raised in these articles.
