World News
B.C.’s maximum allowable rent increase set at 1.4% for 2021
The province has announced the maximum allowable rent increase in B.C. has been set at 1.4 per cent for 2021, marking a drop of nearly half from the maximum of 2.6 per cent in place for 2020.Landlords cannot currently raise rent for tenants who have experienced a loss in income during the pandemic, as the…
The province has announced the maximum allowable rent increase in B.C. has been set at 1.4 per cent for 2021, marking a drop of nearly half from the maximum of 2.6 per cent in place for 2020.
The province has announced the maximum allowable rent increase in B.C. has been set at 1.4 per cent for 2021, marking a drop of nearly half from the maximum of 2.6 per cent in place for 2020.
The province announced the new limits on Thursday.
Landlords cannot currently raise rent for tenants who have experienced a loss in income during the pandemic, as the province has a rent freeze in effect until December 2020 to help those families.
The province said Thursday tenants who received a notice of increase for 2020 that would have gone into effect after March 18 should continue to pay their current rent until Nov. 30.
Landlords must provide tenants with three full months notice of an increase using a government-approved notice of rent increase form. Rent can only be raised once a year.
Next year marks the third year under updated provincial regulations limiting the allowable increase to the cost of inflation alone. Under old rules, changed in 2018, landlords could raise rents by the cost of inflation and add an additional two per cent.
Subscribe to Centenunlimited news
We hate SPAM and promise to keep your email address safe
