Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed:

“The March ShowingTime Showing Index® recorded the first nationwide drop in showing traffic in eight months as communities responded to COVID-19. Early April data show signs of an upswing, however.”

Why would people be setting appointments to look at prospective homes when the process of purchasing a home has become more difficult with shelter-in-place orders throughout the country?

Here are three reasons for this uptick in activity:

1. Some people need to move. Whether because of a death in the family, a new birth, divorce, financial hardship, or a job transfer, some families need to make a move as quickly as possible.

2. Real estate agents across the country have become very innovative, utilizing technology that allows purchasers to virtually:

- View homes
- Meet with mortgage professionals
- Consult with their agent throughout the process

All of this can happen within the required safety protocols, so real estate professionals are continuing to help families make important moves.

3. Buyers understand that mortgage rates are a key component when determining their monthly mortgage payments. Mortgage interest rates are very close to all-time lows and afford today’s purchaser the opportunity to save tens of thousands of dollars over the lifetime of the loan.

Many families have decided not to postpone their plans to purchase a home, even in these difficult times. If you need to make a move, reach out to a local real estate professional today so you have a trusted advisor to safely and professionally guide you through the process.

Source: KCM

The Residential Tenancy Act has been amended to support renters and landlords during the provincial state of emergency and to help prevent the spread of COVID-19. The amendments are in effect for the duration of the state of emergency. Talk to your landlord and make sure they are aware of the changes that have been made.

Paying Rent

Tenants should pay rent wherever possible. The legislation still requires that tenants pay rent in full and on time.

- The state of emergency temporarily suspends a landlord’s ability to end a tenancy if a tenant does not pay the rent in full and on time

- A tenant who has not paid rent could face eviction once the state of emergency is over

Tenants facing difficulty as a result of the COVID-19 crisis should consider all assistance that is available to them, including:

- The B.C. Emergency Benefit for Workers

- Temporary Rent Supplement

- Federal government financial supports

Temporary Rent Supplement

The temporary rent supplement will provide up to $500 per month.

- It will be available to low to-moderate-income renters who are facing financial hardship as a result of the COVID-19 crisis, but do not qualify for existing rental assistance programs

- Applications for the supplement are now open on the BC Housing website

- The supplement will be paid directly to landlords

Rent Increases

A landlord can give a notice for rent increase during the state of emergency.

- The rent increase will not come into effect until the state of emergency is over

If a landlord has already given a notice for rent increase, the increase will not come into effect until after the state of emergency is over. 

- For example, if your rent was set to increase on April 1, 2020, you should continue to pay your existing, pre-increase amount

- If a tenant has given their landlord post-dated cheques, the tenant should request that the cheques be returned to them and they can issue new cheques

If a landlord does collect the increase amount during the state of emergency, the tenant can deduct the additional amount from future rent payments.

Accessing Rental Units & Common Areas

To encourage physical distancing and minimize the transmission of COVID-19, landlords are not permitted to enter the rental unit without the consent of the tenant (even if proper notice has been served) unless there is risk to personal property or life.

A tenant must give consent for a landlord to enter the rental unit for the following reasons:

- Making regular repairs

- Showing the unit to prospective tenants

- Hosting an open house

A landlord can reasonably restrict or schedule the use of common or shared areas to support social distancing and prevent the spread of the virus. 

- This applies to both tenants and guests of the rental building

- A landlord must not prevent or interfere with the access to the tenant’s rental unit

Evictions

Most evictions are not allowed during the state of emergency.

- Notices to end tenancy cannot be given for any reason during the state of emergency

- In exceptional circumstances, a landlord may apply directly to the Residential Tenancy Branch to end the tenancy

Landlords cannot give notice to end tenancy for:

- Unpaid rent or utilities

- Cause

- Landlord or purchaser use

- End of employment as a caretaker

-  End of employment if the rental unit is being rented as a condition of employment

- Demolition, renovation, and conversion of a rental unit (or closure of a manufactured home park)

- Failure to qualify for a rental unit in subsidized housing

Landlords can apply to end a tenancy if it would be unreasonable, or unfair to the landlord or other occupants of the residential property, to wait for the state of emergency to end and the tenant or a person permitted on the residential property by the tenant has:

- Significantly interfered with or unreasonably disturbed another occupant or the landlord of the residential property

- Seriously jeopardized the health or safety or a lawful right or interest of the landlord or another occupant

- Put the landlord's property at significant risk

- Caused extraordinary damage to the residential property

- Engaged in illegal activity that has Caused or is likely to cause damage to the landlord's property, Adversely affected or is likely to adversely affect the quiet enjoyment, security, safety or physical well-being of another occupant of the residential property and Jeopardized or is likely to jeopardize a lawful right or interest of another occupant or the landlord

Landlords can also apply to end a tenancy if:

- The rental unit must be vacated to comply with an order of a municipal, provincial or federal authority

- The rental unit is uninhabitable

- The tenancy agreement is otherwise frustrated

CLICK HERE for more information on BC Residential Tenancies.