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211 (1) A renewal of a strata lot lease must be on the same terms as the current strata lot lease, except that the term of the strata lot lease and the rent may be changed.

  • (2) The rent must be that share of the current market rental value of the land included in the strata plan, excluding all buildings and improvements, apportioned to the strata lot in the proportion that the most recent assessed value of the strata lot bears to the total of the most recent assessed values of all the strata lots included in the leasehold strata plan.
  • (3) Agreement on the rent for the renewal period must be reached by the beginning of the renewal period unless expressly provided otherwise in the strata lot lease, or agreed to in writing between the leasehold landlord and the leasehold tenant.
  • (4) Despite section 175, if agreement on the rent is not reached under subsection (3) of this section, the rent must be determined by arbitration under the Arbitration Act.

1998-43-211, effective July 1, 2000 (B.C. Reg. 43/2000); 2011-25-481, effective March 18, 2013 (B.C. Reg. 131/2012).