Lək̓ʔəŋən [LEKWUNGEN] TERRITORY / VICTORIA, B.C. — Leader of the BC Greens and candidate for Saanich North and the Islands, Emily Lowan, announced the BC Greens’ plan to support small businesses by introducing province-wide commercial rent and vacancy control today.
“Small businesses are at the heart of our communities. They’re where we meet to celebrate good news, to get gifts for our loved ones, and find our first jobs,” said Lowan. “But too often, government has prioritized the profits of multinational corporations over the survival of small businesses.”
More businesses have closed than opened in the province for five quarters in a row, and in just three months last year, B.C. lost a net 1,300 businesses. In downtown Victoria, asking rents for retail spaces rose 13% in just one year, meanwhile, available retail space in Sidney rose 30% in a single quarter this year because it’s simply too expensive for small retailers.
“I’m tired of government celebrating subsidies for large corporations, while ignoring local economies,” said Lowan. “That’s why the BC Greens are proud to announce our plan to introduce province-wide commercial rent and vacancy control, which will prevent the sudden rent hikes at renewal and between tenants that are the direct cause of so many of our favourite local businesses closing their doors.”
The BC Greens will:
Introduce province-wide commercial rent and vacancy control, limiting rent increases during tenancies, at renewal and between tenants. Rent protections will remain with the commercial space when a business leaves, preventing landlords from imposing large increases simply because a new tenant moves in.
Give municipalities the power to tax vacant commercial storefronts and other commercial properties, discouraging landlords from leaving usable spaces empty.
Help local businesses and communities own the spaces where they operate by giving commercial tenants, municipalities, First Nations, cooperatives and community organizations the first opportunity to purchase qualifying commercial properties when they come up for sale, supported by provincial financing and loan guarantees.
Click here to read our Commercial Rent Control policy brief.
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