Alternatives to Rent Control for Small Landlords

Whereas many smaller communities have very little purpose built rental units and rely almost exclusively on secondary rentals provide by small landlords those with less than four units; And whereas operating costs faced by small landlords have increased dramatically over the last few years including utilities, maintenance, interest, and land taxes; And whereas the provincial government has continued to artificially cap and limit the annual rent increases allowed for existing long term tenants, with allowed rent increases not having any connection to increased costs or increased market rental rates; And whereas many small landlords are selling properties or otherwise ending historic tenancies, the historic rental supply in many communities is quickly disappearing: Therefore be it resolved that UBCM ask the Provincial Government to design programs that: 1. Provide subsidies and grants to small landlords who are providing affordable and safe long term rental units to entice them to continue to provide a necessary service; and 2. Develop a transparent process to gradually allow small landlords to increase existing rent rates so that over several years they can reach current market rent rates.