Listen Live
HomeNewsRents could increase 4.5 per cent in 2019

Rents could increase 4.5 per cent in 2019

B.C. landlords can choose to increase rent once annually and, in 2019, will be allowed to raise it a maximum of 4 and a half per cent.

The Ministry of Municipal Affairs and Housing reports the maximum percentage increase allowed each year is the inflation rate plus 2 per cent.

The inflation rate, calculated using the 12-month average percentage change in the Consumer Price Index for B.C. ending in July, is 2 point 5 per cent.

For manufactured home park tenancies, the rate is 4 and a half per cent plus a proportional amount for the change in local government levies and regulated utility fees.

Landlords must provide tenants with three full months’ notice of a rent increase.

- Advertisement -
- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading

More