Maximum Rent Increase Set for 2020
Rental Sign - photo by Jose Alonso
Landlords in BC will be allowed to increase residential rents for tenants by a maximum of 2.6 percent next year.
The provincial government says the maximum increase for rents in 2020 will be at the same level as the inflation rate in BC
Minister of Municipal Affairs and Housing, Selina Robinson, says that starting in 2019, the province took away the additional margin of 2-percent above inflation that landlords could use to set annual rent increases.
The BC government is also strengthening protections for rents and limiting evictions related to renovations. In addition, new Residential Tenancy Branch guidelines were issued in July of this year.