As Vancouver grapples with its vacancy rate of under one per cent, it seems one strata council is preventing its condo owners from profiting off units.
A family who owns three units at the Hycroft Towers on South Granville lost their battle in a B.C. Court of Appeal.
The Condo’s strata corporation has the right to restrict owners from renting its units, and it doesn’t have to give a reason.
The Mathews disputed that.
But Justice Gregory James Fitch ruled the strata’s bylaws “provide for a waiting list as a means of determining how the strata council would decide applications for permission to rent”.
Hycroft Towers has 158 units but Strata Council only allows one unit at any given time to be rented.