UDI Lower Mainland submission to the Ministry of Housing and Municipal Affairs.

As the Province prepares to announce the 2026 Annual Allowable Rent Increase (AARI), UDI recognizes the complexity of the decision ahead. While rents have begun to ease over the past year and vacancy rates are increasing, it is critical that the Province continue to push for policies that support the delivery of new housing supply. The downward trend in rents and increasing vacancy rates are the direct result of new purpose-built rental housing supply being completed, which was approved a handful of years ago. This, in combination with a slowdown in population growth and heightened economic uncertainty, has driven the shifts being observed in the existing rental market. 

To prevent another period of rent inflation in the future, it is critical to support the continued delivery of new rental housing supply, alongside a stable and predictable 
operating environment for existing rental. Despite easing of rents and increasing vacancy rates, the development industry must be empowered to continue delivering more housing supply, faster. UDI asks that the Province restore the AARI formula to CPI +2% for 2026.