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

UDI submitted a letter on July 30 to the Province outlining a recommendation to ensure the 2026 Annual Allowable Rent Increase is financially viable for the development industry. Following this submission, the Province decided to limit the rent increase to 2.3%. UDI recommends the Province reconsider a more balanced framework and consider the potential offsets that UDI recommended on June 17, 2024.