NDP promises a rental rebate of $400 a year

Part of the housing mandate laid out by the NDP government is to put into place an annual renter’s rebate of $400 per rental household in order to improve rental affordability.

The rebate aims to make life more affordable for British Columbians, but it has been criticized as not being the best solution to the affordability problems B.C. renters are facing.

It's time for renters in #BC to get a break. We'll make life more affordable with a $400/year renters rebate. #bcelxn17 pic.twitter.com/M6sjkMOSGB

— John Horgan (@jjhorgan) April 12, 2017

Providing relief for families from rising costs and fees was one of three priorities the NDP cabinet was instructed to focus on to create a better B.C.

With the proposed rebate, renters would receive $400 a year to help offset the rising cost of housing in B.C.

Considering that that works out to be $33.33 per month, the question being asked is how much of a difference it will make to renters in B.C.

.@jjhorgan 400 a year? I pay 14,000 for a one bedroom in south van, appreciate the sentiment, but really?!

— Mark Burge (@markeburge) April 12, 2017

It's %3 if you are paying $1100 a month. Or $33 off each months rent no matter what you pay. Not really that great

— Vincent Lombardi (@padre_vincent) April 12, 2017

Kyle Pineau, a renter in Kelowna, says that as a renter he sees both sides of the equation.

"It's going to come out of everyone's taxes, including the homeowners, and then go back to the renters,” Pineau says. “But, it does make a difference, if you got to replace the light bulbs in your apartment or basement suite, it can be that little bit of home maintenance that the landlords don't cover that you're doing yourself.”

The money would be spent to build affordable rentals & create jobs at same time.
$30 a month subsidiy will be ineffective.

— Invest in Knowledge (@DeceitinDrugs) April 12, 2017

However, he also agrees with the sentiment that the rebate probably isn’t going to make much of a difference to renters, saying “$30 isn’t a make or break type thing.”

Kelowna-Mission MLA Steve Thomson says that $1 a day for renters is, “a waste of important resources.”

“We recognize that rental affordability is a key issue, but we certainly don't see a $400 rebate program as being effective in addressing affordability,” Thomson says.

problem is that it doesn’t fix anything, if anything it gives landlords an excuse to jack rents up another 400 a year.

— Mark Burge (@markeburge) April 12, 2017

He references benefits provided by the Liberal party’s first time home buyers program, which he says is an initiative that would provide a better solution to the housing problem.

The program would have put resources towards giving first-time buyers a no interest loan and no payment loan for their first five years of ownership.

Additionally, it would provide direct benefits in terms of providing affordability for home ownership, working on increasing the housing supply, expanding the home renovation tax credit, and continuing support for the safer renter assistance program and the safer program for low-income families.