Regulatory reform - OSRE, RECBC, the BC Financial Services Authority (BCFSA) and Ministry of Finance are working on changes to the Real Estate Services Act and integrating OSRE and RECBC into the BCFSA. Please include Realtors to help decision making in this new structure. They understand the industry and can prevent expensive delays and issues for consumers.
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Development or enactment of any regulation, including the enactment of a regulation for the purposes of amending or repealing a regulation
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Consumer Issues, Housing
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Strata Insurance - the sudden rising cost of strata insurance has negatively impacted housing affordability for local homeowners. Transparency is needed around proof of insurance, including premiums, deductibles, coverage and expiry date for potential home buyers and sellers within the real estate transaction. Strata corporations need to be provided and provide owners with adequate notice before renewal of policies and in the event of changes to coverage, premiums and deductibles so that they may adapt and adjust to changes in the agreements and mitigate potential financial hardships for owners.
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Development of any legislative proposal by the government of British Columbia, a Provincial entity or a member of the Legislative Assembly
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Consumer Issues, Finances and Budgets, Housing, Insurance, Taxation and Finance
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Taxation adds to the high cost of housing and can be a barrier for first time home buyers. Consider raising the Property Transfer Tax first time home buyers exemption to better reflect the market realities in Metro Vancouver (to $750,000 and reviewed annually).
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Development of any legislative proposal by the government of British Columbia, a Provincial entity or a member of the Legislative Assembly
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Consumer Issues, Finances and Budgets, Housing, Taxation and Finance
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