New Tenant Eviction Rules as BC NDP Declare WAR on Landlords!

The BC NDP has effectively declared war on landlords across the province as they introduce strict new tenant protections this month, July 2024.

In today's video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty walks through the new BC rental restrictions that came into effect July 18, 2024 and how these changes will impact tenants, landlords, the rental and real estate market in BC and whether or not any of this will have an impact on affordability.

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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.

[ATMICYCREM]

I live in a building owned by a Chinese slumlord. He does zero maintenance on an old 8 unit building. I have zero sympathy for most landlords because My experience is that most are like this. There was a woman who was an absolutely awful tenant who lived like a slob and left food out and the entire building got infested with mice. She stopped paying rent and threw her garbage out her windows onto the lawn where it sat. He didnt care about the garbage, because theres already a bunch in the yard, but he didnt like the mice or her not paying rent. It took him 6 months to get her out and 5 grand in legal fees. However I have never been late on rent and I take good care of my space as well as the common area, but he wouldn’t even change the locks from the previous tenant, or put a weatherstrip on my exterior door. The windows haven’t been washed in 3 years. The washing machine was broken for 4 months. I feel like this is ridiculous in Canada. It feels like I’m living in a third world country.

[emanefo]

When you have not been a victim of a Bad Faith Landlord, you will say that this new law is bad. but I do understand

[melondad]

The issue I have with landlords and real-estate investment is that they treat a necessity as a commodity. Of course, the tenants are going to pay more when you tell them to pay more because they have no other option other than to go homeless. What's even worse is that the landlord can evict the tenant because their niece is coming to visit for a few months, and they need a whole apartment to them self while paying little to nothing because they get the family discout, now that previous tenant needs to find a new place to stay that is around the same area and as close to the same rent as possible because everything that the tenant has is within the area they were renting in. And if the tenant can't find a place that is the same price and in the same area, they may end up losing their job/career because they either need to move to another city or town and not have the same job opportunity and have to start at square one, but then again it's your niece and this is a stranger living in your space that leans on the security of everything they need being in the same area. Landlords should give their tenant as much time as possible to find a place and build connections in that area so that they don't have to start over.

TLDR. Landlords are scum because they make a necessity a commodity, and they can strip the securty of location at a moments notice while having no remorse because they can legally do that.

[ScrambIedEgo]

You don’t look crazy talking about this, you’re telling the truth. We need more of that nowadays.

[Asgaardiangatekeeper]

Ohhhh noooo! You guys are a reason why there are millions of vacant homes and a homeless problem.

[ydoIstillcare]

A landlord’s costs will continually rise, significantly faster than rent increases, making investing in British Columbia a losing battle. Fewer rentals push rent up due to the lack of supply. Unless you have a child or are planning on moving into your rental property, you will never be able to occupy the unit or sell it. The unit will not sell to an investor since the rent will be too low, thereby decreasing the unit’s value – you’re welcome, NDP supporters. Landlords will continue to bear 100% of the housing inflation, protecting tenants from this type of inflation. Meanwhile, tenants will own nothing and be happy. Why does that theme keep coming up?

[beepart]

Easy solution here. If you don’t want the government in your business, stop renting your properties to other people who also have rights under the law.

[TurnDar]

I've been a landlord for over 30 years in BC. I'm out. I'm selling my rentals and getting out of rentals.

[jjlad]

Many years ago I was a landlord in Montreal. The government at the time realized that they could harvest tenant votes by shifting power to the tenants. The power shifted so far that not a single rental unit was built for decades and what little inventory remained was converted to Stata (that's what I did).

The same will happen in BC.

[yourinsurancechannel]

Thank you for breaking this new rules so well. Your concern and message is respected,
I feel bad for the landlords who must have worked very hard to build an asset and have this burden of new set of rules sabotage their goals, retirement or financial planning.

[homedwell]

Excellent video. I fully agree that landlords right have been completely stripped in the province and we are barreling towards full on Communism here. Voters (landlords included) must vote the NDP out this fall for all the reasons you stated. All out war is exactly what they've proposed, first the AirBNB rules, and now this on top of it all. I don't understand how they think these new rules will in effect solve the problems renters are facing. God forbid we try to earn passive income, but with the new rules, it's clear we are expected to get 2nd jobs to survive the ever increasing costs of living in this province. Everyone needs a side hustle these days, if you're not, you're broke. I've never felt this helpless about who has their hand in my wallet and taking my money. Enough is enough.

[edward]

The fact that you’re a landlord means you’re biased right off the bat. Your tenants should ABSOLUTELY have rights, not rights over your rights, but they should be entitled some rights.

[Two_Shoes]

Brutal! Thanks for the info! I was considering buying an investment property, but it seems way too much of a liability now.

[StandOnGuardThee]

This is great. No more landlords indiscriminately kicking people out just to increase rent

[davidsmind]

It won't directly help renters, but if it makes owning a property and exploiting tenants less desirable it will help bring down housing costs for purchase and by nature of housing being a market with personal ownership and rent prices being more or less advertised, it could bring down rents too.

[mgdubya]

Was always planning on returning to BC for retirement, however, perhaps I should be looking to Alberta or staying in the States permanently. Canada seems to be going downhill fast.

[elenar.]

We have sold 3 of our rental because because all the risks, the lack of protection of our rights and property, but especially because we were subsidizing the 3 of them for the past 4 years, and we can not continue doing that as every year is getting worse and we are adding more to our debt. We worked hard to have the rental income to suplement our retirement. But with all the new rules NDP and Greens made, the income that supose to be coming to us after decades of hard work and sacrifices to save money to pay the mortgages, is now going to subsidize our tenants rents, whom earn more than us.
How this could have happened? This government is not socialist is commun ist and they are disposing over our private property, and forcing us to provide housing at not profit but with high penalties, high costs and high taxes! It is unsustainable.
We have some other properties but we are done as landlords. Selling at the first opportunity we have.

[trumanvanegmond]

Why is it that the government hasn't realized that the lack of rental spaces are less and less, because no one wants to rent their houses out because landlords have no rights to their own properties, but make more rules against landlords

[JayCoupar]

Agree Steve. These are all technicalities though, the bottom line is BC is closed for business - full stop.

Unless people revolt and we see a conservative wave, things will just get more difficult.

[kampdavies]

I am confused by landlords who say it there property and they should be able to do what they want with it. If you have a mortgage someone else own the property with you. Try and modify your home without getting strata permission or the municipally permit. You already can't do what you want with your property. All investments have risk and many landlords fail to evaluate all the risks.