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New report demonstrates vacancy control is a common-sense policy urgently needed to address housing crisis
Read moreBURNABY, 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.
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Victory: Province caps rent increases below inflation for 2023
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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.