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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.

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