Improve housing supply and affordability – Due to the COVID-19 pandemic, BC families need access to affordable homes that can suit their rapidly changing needs now more than ever. We call on MLAs to encourage local governments to speed up approvals processes and allow a wider diversity of housing options.
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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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Housing
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Address the high cost of strata insurance– Over the past year, strata insurance rates have increased drastically throughout many areas of BC, impacting about one in three British Columbians. As the financial and insurance regulator, the BC Financial Services Authority (BCFSA) is examining the issue. As we wait for that report, we recommend interim actions, including developing mandatory education for strata council members.
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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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Housing
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Balance consumer protection and licensee professionalism – Currently, there are two real estate regulators in BC. To create a more efficient system, a process is underway to create a single regulator by integrating them into the BCFSA, with legislative amendments expected in spring 2021. An effective regulatory system provides significant opportunities for professionals to provide input; therefore, we recommend the creation of a Professional Standing Committee to establish licensing qualifications and provide practical insights into all proposed changes to real estate practice.
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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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Industry
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Develop smart anti-money laundering initiatives – The Cullen Commission of Inquiry is underway, with hearings on the real estate sector taking place in early 2021. BCREA is a commission participant and will testify to provide ongoing transparency and assistance to the inquiry. We expect the provincial government to increase collaboration with the federal government to develop smart, comprehensive approaches to tackle money laundering in BC.
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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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Gaming and Lotteries
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Encourage energy retrofits – To address climate change, we look to the provincial government to provide long-term, widespread investment in financial incentives to help commercial and residential property owners voluntarily retrofit existing buildings.
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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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Conservation
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