On July 3, 2024, the Provincial Government unveiled significant updates to the Residential Tenancy Act, which will be enforced starting July 18, 2024. These updates are aimed at enhancing the protection of residential tenants against unjust evictions, and they will have a notable impact on both buyers and sellers of properties with existing tenants. This guide will help you understand and navigate the upcoming changes.
Extended Notice Period
Occupancy StipulationsWhat These Changes Mean for Buyers
If you're planning to purchase a property that has tenants and you need it to be vacated, it’s important to be aware of the new four-month notice period. Any notice to terminate a tenancy given on or after July 18, 2024, must adhere to this extended period. For example, if you complete all contract contingencies by July 22, 2024, you must serve the notice by July 31, 2024, to ensure the tenant moves out by November 30, 2024.Should the tenant refuse to vacate as required, it’s advisable to seek legal guidance to understand your options and protect your investment.What These Changes Mean for Sellers
For sellers of properties with tenants, the new regulations mean you’ll need to plan ahead and provide the required notice if the buyer needs the property to be empty. Make sure you're familiar with the new web portal and the extended notice period. If a tenant does not vacate as required, seeking legal advice will help you manage the situation and ensure compliance with the new regulations.
Key Updates That Took Effect on July 18, 2024
Introduction of a Mandatory Landlord Web Portal- Portal Usage Requirement: Landlords are now required to use a newly introduced web portal for issuing Notices to End Tenancy for personal use or for use by a caretaker.
- Access Protocol: Access to this portal requires a Basic BCeID.
- Occupant Disclosure: Landlords must provide details about the new occupant, which will be shared with the tenant.
- Termination Guidelines: The portal also includes information on termination conditions, penalties for wrongful terminations, and compensation owed to tenants.
Extended Notice Period
- Notice Period Extension: The timeline for giving notice to end a tenancy has been extended from two months to four months.
- Longer Dispute Window: Tenants now have 30 days, rather than the previous 15, to challenge Notices to End Tenancy.
Occupancy Stipulations
- Minimum Residency Requirement: The new occupant is required to reside in the property for a minimum of 12 months.
- Consequences for Bad Faith Terminations: Landlords found to be evicting tenants in bad faith could be required to compensate them with up to 12 months of rent.