New report demonstrates vacancy control is a common-sense policy urgently needed to address housing crisis
BURNABY, B.C. (Coast Salish Territories) – The B.C. General Employees' Union (BCGEU) today released Evaluating Prospects for Vacancy Control Policy in B.C.'s Housing Affordability Crisis, a comprehensive assessment of vacancy control policy (where rent control is tied to the unit rather than a tenancy agreement). The report finds no evidence that tying rent to the unit has had significant negative impacts on developing new rental housing supply. Instead, a lack of vacancy control represents a loophole in B.C.'s rent control laws that has allowed rents to rise between 10-23 per cent year after year since 2019 in major metro areas.
The BCGEU is welcoming today’s announcement from Premier John Horgan that the provincial maximum allowable rent increase for 2023 will be set at two per cent.