The B.C. government is maintaining a low allowable rent increase to keep housing affordable for British Columbia families.
The B.C. government is keeping the current allowable rent increase for residential tenancies at 2.5% for 2015. For manufactured home park tenancies, the rate is 2.5% plus a proportional amount for the change in municipal and utility fees.
Did You Know?
- Landlords can increase the rent only once a year.
- The rate of rent increase is determined by law by a formula (2% plus inflation).
- To raise the rent above the maximum annual amount, the landlord must have either the tenant’s written agreement or an order from the Residential Tenancy Branch.
In addition to keeping rent increases low, the provincial government provides rental assistance to support low-to-moderate-income families and seniors renting in the private market. Rent supplements allow recipients to choose where they want to live and there are no waitlists.
In 2014, the provincial government increased the average monthly supplement for a family from $370 to $420. Last year, more than 28,000 households throughout B.C. benefited from rental assistance.
Learn More:
Allowable rent increases:
www2.gov.bc.ca/gov/topic.page?id=539D67CD1FE548B58B3732CFC299C406&title=Residential%20Rent%20Increases
Rental assistance:
www.housingmattersbc.ca/docs/fs_Rental_Assistance.pdf
Media Contact:
Sandra Steilo
Media Relations
Ministry of Natural Gas Development and Responsible for Housing
250 952-0617