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Monday, October 17, 2011

Important News: Proposed changes to the Residential Tenancies Act

Taken from a letter from the RTB to the PPMA:

Here are some highlights of the changes that will take effect on November 1, 2011:

· New work and expenditure requirements for whole complex rehabilitation schemes. Condominium conversions of rehabilitated complexes will not be allowed for 4 years after an exemption is granted.
· Increases in late payment fees and NSF charges.
· Costs awarded following hearings will be increased.
· Filing fees for above guideline rent increase applications will be reduced for some complexes.
· Consequence for failing to notify new tenants that a rental unit is a condominium.
· New sections in the Act relating to buildings where landlords provide tenant services like meals and light housekeeping.
· The Residential Tenancies Branch’s authority to impose administrative penalties will be extended to cover additional breaches of the legislation.
· Administration fees charged for rent re-directs will be increased.

There will be some changes to the amortization periods for capital expenses for above guideline rent increase applications. These changes have been approved, but will not take effect until June 1, 2012.

There are also some amendments to The Condominium Act that may affect you. These amendments will take effect on November 7, 2011:

· Tenants must be given six months’ notice of the intention to convert a building to condominium.
· Tenants must also be notified once a condominium declaration is registered at Land Titles.
· Tenants who are given notice to move for renovations and indicate they want to re-rent their unit after the renovations are complete will not lose their right of tenure (right to continue to occupy).
· Landlords who register condominium declarations will need to file a statutory declaration that no tenancies were terminated in the 12 months before the date of registration, other than for cause (e.g. non-payment, damage, noise).
· Cities and municipalities may choose to pass bylaws requiring landlords to apply for approval to convert residential rental properties to condominiums.


Got questions? Email us at owners@garamark.net

Garamark Property Management is located in Winnipeg, Manitoba and successfully balances protecting the investment of an owner while retaining happy tenants.
www.garamarkpropertymanagement.ca

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