It’s the first in a series of articles about the new rental rules that will take effect in March.
The new rules have been introduced as a result of a recommendation made by a task force that includes the heads of all five municipalities.
Renters in Vancouver and Victoria will be able apply for a two-year residency permit to rent their homes, while residents of Prince Edward Island and Newfoundland and Labrador will have to apply for two years of residency in order to rent.
A “special guest” must live in the property and a “special resident” will be responsible for all activities in the home.
They must also have a permanent address, be Canadian citizens or permanent residents, and have lived in the residence for at least two years.
For now, the rules do not apply to new construction or renovations, but a review is under way to see if there are ways to make the new rules more flexible for small businesses.
The task force is recommending that small businesses should apply for their own residency permit, as long as they can demonstrate they have “sufficient financial resources” and “a substantial need for accommodation” as defined by the province.
However, there are no rules in place to determine if an employer can also apply for one.
“We’re going to be working with our small business community to see how we can expand the rules and make sure that there are additional protections,” said Marcy Campbell, a spokesperson for the Department of Housing and Urban Development.
The province is asking the task force to look at how to address the issue of people renting their homes and renting out their homes to family members.
The city of Vancouver is also considering adding some protections to the rules.
Vancouver Housing is looking at adding some rules to ensure that residents who are already in the rental market do not end up paying more rent to landlords.
We are working with the province to see what more we can do to protect the people who have been renting in the city,” said David Leduc, vice-president of business development at Vancouver Housing.
Some Vancouver residents who have recently moved into their rental properties are also concerned that they will end up owing more rent and that they might not be able buy their home.
As the new regulations take effect, landlords in Vancouver will have until March 1 to begin letting people rent their properties.
More than 30 per cent of the city’s rental stock is occupied by renters.