A regulation that could help increase Richmond’s rental housing stock for young people and families will go to a public hearing next month.
The policy would make it illegal for stratas to restrict the number of condos that can be rented out in a new development. It also bans new stratas from setting age restrictions.
“If you already have this in place, we’re not coming after you,” said Coun. Alexa Loo at the May 10 council meeting.
“It’s only (for) new stratas…We don’t want to prevent families from renting homes. We want families to be able to rent homes.”
Council voted last Monday to move ahead with the measure, which will go to a public hearing on June 21. Public hearings give any interested parties the chance to speak directly to council.
The proposed policy would apply to all rezoning applications for townhouses and multiple family dwellings. It would take the form of a legal agreement, linked to the title, and would prohibit future strata corporations from passing bylaws that restrict an owner from both setting an age restriction on either owners or tenants of the building, and from preventing owners from renting out their strata condo unit.