David Hutniak, CEO of LandlordBC, said the landlord at Winsome Place isn’t a member of his association and the case is unusual. He describes the increase in rent as “pretty aggressive” and the way the landlord is communicating the idea of selling the units as concerning.
Many current landlords are looking to get out of the market, which will only increase the pressure for dedicated rental units, he said. An eventual rezoning approval would include a “housing agreement” with the developer so that the units have to remain as rentals for a minimum of 20 years. “The city is essentially giving a disincentive to converting these units to individual strata in the future,” said Ian Brackett, a senior broker at Goodman Commercial.Article content“Just because something is legal doesn’t always make it right,” she said. “I’m glad our city staff are looking at providing council with some options to correct situations like this.”