2019 Maximum Residential Rent Increase Announced
On Friday, September 07, 2018, the B.C, Residential Tenancy Branch issued the following Information Release on their website @ 1:00 PM.
Based on the B.C. Consumer Price Index and the formula for rent increases in British Columbia, the maximum annual allowable rent increase will be 4.5% in 2019.
B.C. landlords can choose to increase rent once annually. The maximum percentage increase allowed each year is the inflation rate plus 2%. The inflation rate, calculated using the 12-month average percentage change in the Consumer Price Index for British Columbia ending in July, is 2.5%. Therefore, the maximum allowable increase for 2019 is 4.5%.
For manufactured home park tenancies, the rate is 4.5% plus a proportional amount for the change in local government levies and regulated utility fees.
Landlords must provide tenants with three full months’ notice using the correct notice of rent increase form.
For more information about the annual allowable rent increase, visit:
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