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.