B.C. premier’s plans for the new year include keeping rental prices from skyrocketing

As 2022 is coming to a close, B.C.’s premier is promising help with big topics, including housing and healthcare.

One of his promises includes helping keep rental prices from skyrocketing in the new year.

This includes a plan to place restrictions on corporations’ ability to buy up rental buildings, so they can’t jack-up rates.

David Eby says the end goal of buying the buildings is to help preserve low-cost rental stock for renters.

“What we have right now is some big corporations, buying up rental buildings, putting rents up, this kind of initiative gives us the opportunity…[of] preserving that low-cost rental housing we have and creating the opportunity to have more units,” Eby said.

“We’re in a housing hole, we need to stop digging,” he added.

Eby says part of the plan is to partner with the non-profit sector to help purchase buildings that would potentially be developed in the future. He says joining with and supporting non-profits will preserve low-cost rental housing and create possibilities for development where tenants are protected in the process.

“A lot of people can identify with the feeling…that one of the most anxious moments is [seeing] a for sale sign go up in front of your building. And so one of the initiatives we’re looking at is partnering with a non-profit sector to help non-profits buy these rental buildings,” Eby said.

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Regulating vacation rentals 

Eby also plans on regulating the growing vacation rental market.

“They will see us do legislation around Airbnb and short-term rentals so that municipalities can have the tools to effectively regulate this,” he said.

For municipalities blocking the ability of owners from renting out secondary suites, Eby is promising change for that as well.

“Even if they have a full suite in their basement that complies with the building code, that bans people from renting it out, we need people to be able to rent out those places,” he explained.

Eby says he is aware of the challenges faced, as he plans on building a stronger housing framework with turbulent economic times ahead.

“One of the things I am really concerned about is the increasing cost of food and people having to choose between paying the rent and paying for food,” he said.

Transforming Vancouver’s Downtown Eastside

Additionally, Eby plans on making changes to Vancouver’s Downtown Eastside by taking steps to make it healthy and safe.

“Right now, the people who live in tents and on the sidewalks, they’re not safe, and the broader community, they don’t have the feeling of safety about what’s happening in the Downtown Eastside,” Eby said in November.

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“It needs a pandemic style response, and we are bringing together the folks around the table to deal with the challenges that neighbourhood faces,” he added.

Health care

The premier is also pledging to build a model for mental health support and treatment.

“An inventory of what are the opportunities that we can get going urgently to try different approaches, especially around the treatment side of things, to really help British Columbians interrupt that cycle they may be in with addiction,” he said.

He also plans to address healthcare staffing problems, through his commitment to ensure that foreign workers can practice in the province.

“These regulators need to set up those pathways that are really clear, understandable, and accessible and transparent for people who are trying to get work in their chosen career. If they are unwilling or unable  to put those pathways in place then government needs to put those in place so that our province can function,” he said.