![]() This insight discusses the key changes in greater detail and will suggest next steps for developers and strata corporations. ![]() Developers marketing strata lots in development properties are no longer required to file a rental disclosure statement in Form J (the Rental Disclosure Statement) with the BCFSA and include information with respect thereto in their disclosure statements to purchasers.Strata corporations will continue to have the option to hold annual and special general meetings electronically without a specific bylaw authorizing the same (a temporary exemption introduced during the Covid-19 pandemic which has now been made permanent) and.Strata corporations are no longer able to enforce age restriction bylaws except those with respect to persons aged 55 and older.Strata corporations are no longer able to enforce bylaws that restrict the rental of strata lots.Äevelopers and strata corporations should familiarize themselves with these amendments and consider the impact on their disclosure statements and bylaws going forward, including the following key changes: Concurrently, the BC Financial Services Authority (the BCFSA) amended Policy Statement 1 and Policy Statement 2 under the Real Estate Development Marketing Act ( REDMA), which set out the required form and content for a developer’s disclosure statement to purchasers in relation to marketing strata lots in a development property, in order to align with the amendments to the SPA. ![]() On November 24, 2022, the Building and Strata Statutes Amendment Act (the BSSAA) received Royal Assent, just three days after it was first announced by the Office of the Premier. After being sworn in as Premier of British Columbia on November 18, 2022, former Attorney General and Minister Responsible for Housing, David Eby, made swift work of introducing amendments to the Strata Property Act (the SPA) which are purported to open up more rental and homeownership options for people in British Columbia.
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