The BC Government has now released its requirements for the repayment plans that landlords must provide to tenants with outstanding rent due between March 18, 2020 to August 17, 2020.
As part of its temporary measures to support tenants affected by the COVID-19 pandemic, the BC government imposed a moratorium on evictions due to non-payment of rent in March. As of September 1, 2020, that ban will be lifted. However, landlords must present tenants with rent repayment plans and are prohibited from issuing eviction notices (for unpaid rent due between March 18, 2020 and August 17, 2020) unless tenants default on the plans.
Requirements
- The repayment period begins on the date the repayment plan is delivered by the landlord to the tenant and ends on July 10, 2021.
- The first instalment due date must be at least 30 days after the plan is delivered by the landlord to the tenant.
- The instalments must be equal, unless the landlord is allowing the tenant to pay less in the beginning of the term and more closer to the end.
- Each instalment must be paid on the date that rent is due each month as per the tenancy agreement (unless otherwise agreed-upon by both the landlord and tenant).
- The rent repayment plan must include the amount of rent owing, the start date of the repayment plan, the amount of each instalment and the payment dates for each instalment.
The terms of the plan can be amended to extend the repayment period beyond July 10, 2021 if both the landlord and tenant agrees to do so.
The plan must be hand delivered, sent by registered mail to the residence of the tenant or a forwarding address provided by the tenant, or in whichever method is ordered by an arbitrator on application.
Any landlords and tenants that may have entered into their own repayment plans in writing prior to July 16, 2020 can continue on the terms of their own agreements. However, either the landlord or the tenant can cancel the prior agreement by submitting a new repayment plan to the other party.
Download the repayment plan template here.
For information and resources on insurance and risk management for property owners and managers, please contact a CapriCMW Risk Advisor.
