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.

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

Just Posted

Jumbo Valley to be protected, ending decades-long dispute over proposed ski resort

Development rights permanently retired for site of proposed year-round ski resort west of Invermere

Matt Andersen to tear it up in Cranbrook

Canadian singer, songwriter and guitarist showcasing new album at February concert at Key City Theatre

It happened this week in 1913

Jan. 12 -18: Compiled by Dave Humphrey from the newspapers at the Cranbrook History Centre and Archives

COTR Avalanche back in action for 2020

The College of the Rockies Avalanche volleyball teams are back in action… Continue reading

RCMP, Conservation officers, locals attempt to save elk in frozen river

Local emergency services personnel teamed up with rural residents to try and… Continue reading

Kids across Canada more at risk of hospitalization from flu this season: doctor

Dr. Theresa Tam said influenza B does not usually peak until February or later

Closed mills, housing surge support a positive forecast for lumber industries

B.C. lumber producers have closed mills accounting for 18% of province’s capacity, RBC report says

Good Samaritan pays part of rent for B.C. woman facing eviction in can-collecting dispute

Zora Hlevnjak, 76, supplements her pension by collecting cans and receiving public donations

Kelowna’s ‘Baby Mary’ finds biological parents after more than 30 years

Geneologist and DNA test helped her connect with her biological parents

Kelowna hotel to award couples for baby-making with Nooner deal

The deal includes a free stay every Valentine’s Day for the next 18 years

On the job hunt with Nelson’s Make A Change Canada

The employment charity is organizing next week’s Kootenay Patricks, Montreal Canadiens game

Gratitude, even at Minus 20

Enhance enjoyment of God by expressing it in words and acts and emotions.

Work wanted: Good at duking

My goodness, the sturm, the drang, the accusations, the gnashing of teeth,… Continue reading

It’s 2020, a year for Hugs & Slugs

Hugs: Huge hugs to the people on my kids’ paper routes, 100-300… Continue reading

Most Read