Correspondence: Email from Irene Leitch regarding background for item #10
Correspondence providing context on the Residential Tenancy Branch legislation that allows rent increases for capital improvements.
Correspondence from Irene Leitch
From: Irene Leitch
Sent: Tuesday, June 18, 2024 12:26 PM
To: Mayor And Council Email mayorandcouncil@viewroyal.ca
Subject: Background for item #10 on tonight's council meeting
Dear Council
I am hoping that it is not too late for this submission of background information to add context to our concerns .
As you can see from the attached, the very board that recommended this legislation under pressure from the Landlords Association, is the arbitrator of the hearings. Can we trust them to be unbiased?
These expenditures add to the value of the property and as leasehold improvements are eligible for capital cost allowance, so in fact the company is allowed to "double dip" receiving a reimbursement from the tenants as well as an allowable tax expense.
It is just another form of renovation and unbelievably put through during covid. How can a government that says it is doing all it can for the housing/rental crisis do this? We believe that this legislation needs to be revoked. Your support would be greatly appreciated.
Thank You
Irene Leitch
Christie Point, Victoria