Rental help on its way

I noticed from this article Rental help on its way though this would be helpful  is not the actual reason that there is a rental crisis in Kelowna. People don't seem to know the real reason that Kelowna suddenly had a hard time with rental availability. I'm not sure why Kelowna council and the mayor hasn't bothered to ask local real estate agents. It's quite clear and they will tell you exactly why there is a crisis when asked.

This was my letter to Kelowna city council and the mayor:

"I am writing to you today in regards to the soaring Kelowna rental market. This has been in relation to the Kelowna home buyers’ market to begin with. I believe you must institute laws immediately as Vancouver has. Though they did take it upon themselves too late with a house in Vancouver costing 1 million + easily. This law states a 15% tax on foreign national’s home purchases. Since this happened in Vancouver the foreign nationals have looked elsewhere to purchase property; the majority have settled on Kelowna. How do I know this? My mother who still resides in Kelowna has many real estate agent clients who have told her of their own clients coming in to buy property. These have all been foreign nationals. They are purchasing 3-4 houses every visit and as you would have it they are making several visits. They are not interested in renting out the property after purchase, they simply let it sit. Not only is this an eye sore as the property is not being taken care of but can also become a fire hazard due to un-maintained foliage and debris on the property. Due to this market with all the houses being purchased and not being occupied it has made an incredible strain on the rental market in Kelowna. Right now a 1 bed/1den basement “suite” with water damaged laminate flooring, only two windows, and a hot plate for a kitchen is going for $1,250/month. People are lining up for this property; you will have competition with up to 5-10+ other families.”

I’m not sure why the issue isn’t being addressed already? Is it because everyone on council and the mayor own their own home; since it doesn’t affect you it doesn’t matter?

I am the fourth generation in my family from the Okanagan Valley; myself from Kelowna. Like many families from many different parts of the world we came to the area and helped build this community. Many people like myself, who are part of generational families that have always lived here, have been pushed out of Kelowna. This is because of the housing market and now most currently the rental market. People are simply out of options now. They can no longer afford to continue living here.

Do you want Kelowna to be full of empty houses, sitting as investments for people that don’t even call Kelowna home? Or do you want people who physically live or were raised here to have that opportunity to raise their own family here as their own family had before them?

Also, in addition to this I believe there should also be a tax on unoccupied properties. This would not only settle out the rental market but would be a deterrent to foreign nationals that now already own property from keeping it vacant and un-maintained."

Kelly Lee