MINOR CHANGES TO RESIDENTIAL TENANCY ACT

Those who are, or are thinking of becoming, rental property owners and landlords, may be interested in the following proposed minor changes to the Residential Tenancy Act:

  1. In keeping with government’s goal to reduce red tape, landlords will be able to repay security deposits electronically.
  2. Tenants will be able to terminate a fixed-term lease early without a financial penalty if they are fleeing violence or headed for long-term care. They will be permitted to give one month’s written notice, accompanied by written 3rd-party verification from a professional, who will likely include victim services workers and justice system and healthcare professionals.

For complete BC Residential Tenancy Act Regulations - click here.

 

If you are looking to sell or buy real estate or wish to discuss further any topic on Real Estate, please call Bob Bracken at 604-220-2035 or 604-263-2823.