City of Vancouver - Closing a TRPP Loophole Motion
At Standing Committee on Policy and Strategic Priorities on July 23rd, staff were directed to report back with a proposed amendment to clarify that any building that operates its housing units as rentals under a single landlord is "primary" rental stock and those tenants are eligible for compensation under the Policy. Council also direct staff to consider if this proposed amendment would also apply to strata windups, where a developer purchases an entire building, and converts it into rental suites ahead of redevelopment, which can often take years. More information can be found in the full motion presented to Council.Â