Maximum allowable rent increase capped at 1.5 per cent
The B.C. government has capped the maximum allowable rent increase at 1.5 per cent.
Landlords can increase rent once per year, except when the province enacted a rent freeze at the beginning of the COVID-19 pandemic which has been extended to December 31st, 2021.
Provincial officials said if landlords choose to increase rent they must provide three months’ notice to tenants. According to the B.C. government, the rent increase is significantly less than what it would have been before changes were made in 2018.
Before the change, maximum rent increases could include an additional two per cent on top of inflation and provincial officials said the change has saved families hundreds of dollars.
The government has also recently made renovictions illegal by making landlords apply to the Residential Tenancy Branch for pre-approval.
Renovictions are forced evictions in order to renovate a property.
The increase in rent can not take place before January 1st, 2021.