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B.C. Announces Largest Max Allowable Rent Increase In A Decade For Next Year

B.C. announces largest max allowable rent increase in a decade for next year

By Emma Crawford Hampel for Business in Vancouver

The Province of British Columbia has announced the maximum allowable rent increase for 2019, and it’s the largest rent hike in more than a decade.

Next year, landlords can raise rents by a maximum of 4.5%. This figure is partly tied to the B.C. consumer price index (CPI).

“B.C. landlords can choose to increase rent once annually,” the government said in a news release. “The maximum percentage increase allowed each year is the inflation rate plus 2%.

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“The inflation rate, calculated using the 12-month average percentage change in the CPI for British Columbia ending in July, is 2.5%.”

Maximum allowable increases for the past 10 years were:

  • 2018: 4%
  • 2017: 3.7%
  • 2016: 2.9%
  • 2015: 2.5%
  • 2014: 2.2%
  • 2013: 3.8%
  • 2012: 4.3%
  • 2011: 2.3%
  • 2010: 3.2%
  • 2009: 3.7%

Continue reading the full story here >>
 

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