British Columbia's $500m rental protection fund approves funding for nearly 1,500 affordable homes, surpassing its target of 2,000 homes.
British Columbia's $500m rental protection fund, launched last year to preserve affordable rental properties and shield tenants from large rent increases, has approved funding for nearly 1,500 affordable homes, according to Premier David Eby. The fund, which supports non-profit organisations acquiring rental buildings, is on track to surpass its target of 2,000 homes. Non-profit agencies have already purchased properties in North Vancouver and Squamish, with rents reportedly less than 50% of current market rates, and commitments to maintain them at their current levels, adjusting only for inflation.
August 22, 2024
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