Triple Net Lease Reform

Whereas triple net leases shift the responsibility for property taxes, insurance, and maintenance costs from property owners onto commercial tenants, creating financial instability and unpredictability for small and local businesses; And whereas municipalities rely on vibrant local businesses to support complete communities, economic resilience, and main street vitality, yet lack the legislative authority to regulate commercial leasing practices: Therefore be it resolved that UBCM call on the Province of BC to review and reform commercial leasing legislation, including the use of triple net leases, to improve transparency, fairness, and protections for commercial tenants, particularly small and locally-owned businesses.