What Do New Rules for Secondary Suites Mean for Homeowners?

Secondary suites could bring rental income and higher property values, but construction costs, management and rental competition affect the return.

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What do the new rules for secondary suites mean for a Chilliwack property? The BC Government's changes, effective June 2024, could open opportunities for rental income and potentially higher property values. But the financial benefit depends on construction costs, the responsibilities of being a landlord and potential rental competition. What the new rules allow The key change is the mandatory allowance of at least one secondary suite or laneway house in all single-family zoned areas, with some exceptions. The press release, "More small-scale, multi-unit homes coming to B.C., zoning barriers removed | BC Gov News" (not directly linked due to policy restrictions), describes a shift from previous regulations that may have required complex approval processes. What homeowners could gain—and need to consider For homeowners with sufficient space, a secondary suite could provide additional income through rent. That possibility could be particularly attractive in Chilliwack's current housing market. A legal suite might also make a home more desirable to some buyers, potentially increasing its property value. The catch is that converting part of a home into a suite may involve construction