Huge news coming from the BC Government last week as it was announced that strata’s could no longer impose age restrictions or long term rental restrictions on home owners.
The effects of this and whether stratas across the province will fight this announcement remains to be seen but in the short term, this could provide relief from the rental shortages we are seeing on the coast as a number of units could now be made available to prospective tenants. We may see an increased interest in investment buyers looking to purchase units previously reserved for owner occupancy only and younger families with children will have more options in the attached market as age restrictions have been lessened or removed entirely.
Visit the BCFSA site here to learn more. If you have questions on this or any other real estate related topic, don’t hesitate to reach out to me at arnett.nicole@gmail.com or 604.765.0017
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