As of November 24, 2022, no strata corporation is allowed to have residental rental-restriction bylaws and all current restrictive bylaws are now, due to legislation just passed, deemed to be invalid. However, bans on short-term rentals such as AirBnBs can still be enforced.
In addition to rental restrictions, the new legislation also states the only age restrictions now allowed are those for 55+. Those stratas who have bylaws stating restrictions to 19+ or 45+ ages etc. can no longer exclude younger residents.
This legislation, Bill 44 and Building and Strata Statutes Amendment Act, passed swiftly and much to the dismay of some, without the usual amount of discussion and debate. It remains to be seen just what affect this will have on the market, housing stability and pricing. Many younger buyers and investors are greeting the news with approval.
Other changes have also been enacted, such as making allowance for online meetings, but the rental and age restriction issues are of the main interest to most.
Read more at BC Gov News news.gov.bc.ca
It will take some time for the Strata Property Act to be updated online.
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