Housing

B.C. needs to increase rental supply, quickly. Homeowners who want to do their part and help with the housing crisis will be able to apply for loans to build and rent secondary suites – one of the fastest ways we can add new housing supply.

Beginning in early 2024, people can access a forgivable loan of 50% of the cost of renovations, up to a maximum of $40,000 over five years – if the homeowner meets all conditions laid out in the program, including renting their unit out at below market rates for a minimum of five years.

A homelessness plan, prioritizing cultural safety, Indigenous and community partnerships, and the inclusion of people with diverse identities and needs.

The vision of the plan is that B.C. is a place where everyone has a home and community, and the overarching goals are to prevent and reduce homelessness; and to ensure that when it does occur, it is rare, brief and one-time.

B.C. needs to build more homes, quickly. We’re working with municipalities to build and approve housing developments faster by speeding up permitting with a one-stop shop for home builders.

The new permitting model will focus on housing projects that we need built urgently, like Indigenous-led projects, BC Housing applications and multiple-unit developments.

More women and children, including those leaving violent situations, will have an affordable, safe and secure place to go, as new, secure homes run by non-profits are coming soon to B.C. Many of these homes will have supports available for women, including transgender women, Two-Spirit, and non-binary people, and their dependent children who are experiencing or are at risk of violence.

B.C. is taking action to tackle homelessness and get people into homes they can afford with the biggest three-year investment in B.C. history – with more homes for people who rent, Indigenous Peoples, and middle-income families.

A new, streamlined permitting process will make approvals easier, so construction on new homes for people can get underway, faster.

A three-business-day protection period will allow for more time to secure financing and arrange home inspections, so you don’t need to lock into financing terms you can’t afford or feel pressure to skip a home inspection and face repairs down the road.

B.C. is taking action to add more staff and resources to make sure rental disputes get solved faster and is cracking down on serious offences, like illegal evictions. This means renters and landlords will get access to the protections, services and resolutions they need.

The Housing Supply Act legislation will help increase the number of homes in B.C. by working with municipalities, with the highest growth and highest projected need, to establish targets for new housing and supporting municipalities to reach them.

Through this action, more houses will be built faster for people.

New changes to the Strata Property Act will remove age restrictions in most B.C. strata buildings (55+ buildings will remain).

This means thousands more families can find good homes and people who decide to have children won’t have to leave their home.

Stratas will no longer be able to stop condo owners from renting out their homes.

This will open up vacant units for rental and means there will be more homes to rent all over B.C. Strata short-term rental bans, like Airbnb, remain in place.

The Speculation and Vacancy Tax makes sure much needed homes don’t sit vacant by encouraging owners to rent them out, in areas hardest hit by the housing crisis.

You only pay the tax if you own a home, but do not live in it or rent it out. Every homeowner must declare, but 99% of people in B.C. are exempt.

Rent increases in 2023 are capped below inflation at 2% to make sure renters can continue to afford their homes, especially at a time when other costs continue to increase.

When exams are on your mind, access to affordable housing should not be. New student housing will make sure students can focus on building, and saving for, their future.