(SHELBY THEVENOT / iNFOnews.ca)
September 09, 2018 - 6:00 PM
The maximum annual allowable rent increase will go up from 4.0 per cent to 4.5 per cent in 2019.
For manufactured home park tenancies, the rate is 4.5 per cent plus a proportional amount for the change in local government levies and regulated utility fees.
This is based on the B.C. Consumer Price Index and the formula for rent increases in British Columbia.
Landlords can choose to increase rent once annually. They must provide tenants with three full months notice using the correct notice of rent increase form.
A media release explains the inflation rate is calculated using the 12 month average percentage change in the Consumer Price Index for British Columbia ending in July, which is at 2.5 per cent. Therefore, the maximum allowable increase for 2019 is 4.5 per cent.
Use the tool on this page to see how much more you could be charged in rent.
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