Rent increases in B.C. are controlled based on the inflation rate for the previous year. (Black Press files)

B.C. rent increases to be held to 2.6% for next year

Second year for annual increases to be held to inflation rate

Annual rent increases in B.C. will be capped at 2.6 per cent for 2020, up from 2.5 per cent this year based on the B.C. government’s formula.

The province changed the formula last year, removing an additional two per cent above the annual inflation rate that was in place since 2004. The rent cap is based on the average 12-month increase in B.C.’s Consumer Price Index, as measured up to July and set in September.

Landlords now have to apply to the Residential Tenancy Branch for rent increases greater than the cap, based on the cost of significant repairs or renovations that were not anticipated, or financial loss from an “extraordinary increase in operating expenses of the residential property,” according to B.C.’s residential policy guideline.

RELATED: New home cost dips in B.C. urban centres

For people renting in manufactured home parks, the maximum increase is the same, plus a proportional amount for increases in local government charges and utility fees.

Landlords must provide three months notice for rent increases. Assistance in dealing with disputes over rent, landlord access, inspections and other issues is available through the B.C. Residential Tenancy Branch.


@tomfletcherbc
tfletcher@blackpress.ca

Like us on Facebook and follow us on Twitter.

BC legislature

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Kelowna glider pilot crashes in the Columbia Valley

The Transportation Safety Board is investigating the circumstances of the crash

MP Morrison pushes for accountability following federal fiscal update

Kootenay-Columbia parliamentarian says it is time to restart the economy

UPDATED: Interior Health to add 495 long-term seniors care beds

Nelson, Kelowna, Kamloops, Vernon and Penticton to receive new facilities

QUIZ: Are you ready for a summer road trip?

How much do you really know about roads, motor vehicles and car culture? Take this quiz to find out.

B.C. records 62 new COVID-19 cases, two deaths since Friday

Province has just over 200 active cases

Summerland approves solar project

Despite community opposition, council voted 4-3 for Cartwright Mountain location

Police search for suspect in assault on woman in downtown Kelowna

Kelowna police received a report a woman had been assaulted by an unknown man on July 12

Hotel rooms for B.C. homeless too hasty, NDP government told

Businesses forced out, but crime goes down, minister says

Two positive COVID-19 cases at Oliver farm

The risk of exposure to the general public related to this farm is considered to be low

Oliver Town Hall closed to public as staffer displays COVID-19 symptoms

One staff member at Oliver Town Hall is being tested for coronavirus

Wage subsidy will be extended until December amid post-COVID reopening: Trudeau

Trudeau said the extension will ‘give greater certainty and support to businesses’

B.C. government prepares for COVID-19 economic recovery efforts

New measures after July consultation, Carole James says

Horoscopes for the week of July 13

Weekly horoscopes by Morgan Fava

Most Read