Tasha Henderson, a city councilor in New Westminster, B.C., pictured on 12th Street on Aug. 8, 2024. Henderson is calling for commercial rent control in B.C. to help protect small businesses.
Commercial rent control is being explored as one tool to help protect small businesses from unexpected rent hikes and help preserve the vibrancy of neighbourhoods.Tasha Henderson, a city councillor in New Westminster, B.C., pictured on 12th Street on Aug. 8. Henderson is calling for commercial rent control in B.C. to help protect small businesses. Strolling down 12th Street in New Westminster, B.C.
She's one of several people now calling for a form of commercial rent control to limit how much landlords can charge or increase rents.Albert Kamba, who owns the Salon Elegant barbershop on 12th Street, says he's seen around a 60 per cent increase in rent since 2006. Although the area has long been more affordable, he worries about rising costs and keeping services affordable.
Henderson's motion was endorsed at the 2024 Lower Mainland Local Government Association annual general meeting in May and will now be submitted to beThe province will review all resolutions endorsed by UBCM's membership, the ministry said. According to Statistics Canada, average retail rent has increased by 6.5 per cent in Canada and by 3.7 per cent in B.C. between the first quarter of 2019 and the second quarter of 2024.
Commercial rent control could lead to more selective landlords and less retail space for small businesses, says Damian Stathonikos, president of the Building Owners and Managers Association of British Columbia. In many cases, small businesses end up covering property taxes as part of their operating costs, he said. That can add even more financial pressure for tenants in older, single-storey businesses — especially in regions experiencing high redevelopment — because properties are taxed based on their future development potential, which far exceeds their current use.that offers property tax relief to qualifying small businesses facing development potential.
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