The allowable rent increase for British Columbia will rise in 2017 to 3.7%.
This figure represents the maximum amount that rent can be increased for many residential rental properties. The figure changes each year. The allowable rent increase for 2016 was 2.9%.
According to the British Columbia Residential Tenancies Office, rent increases generally are allowed once per year. Landlords must provide notice to tenants at least three full months in advance of any rent increase.
When calculating a rent increase, landlords must not “round up” to the next dollar if that would bring the figure above the 3.7% maximum increase.
Tenants are not required to pay an amount greater than the that allowed by law, and a tenant may deduct any overpayment from future rent.
There are separate rules for manufactured housing. Generally, manufactured home park tenancy rent increases for 2017 are limited to 3.7% plus a proportional amount based on certain expenses. Subsidized housing, where rent is related to the tenant’s income, is not subject to rent increase laws.
The Residential Tenancies Office can provide necessary forms and additional information concerning rent increases.
British Columbia rent increases traditionally are higher than that of Ontario, which is limiting rent increases for 2017 to 1.5%. Ontario has permanently capped future rent increase guidelines at no greater than 2.5%.
The 2017 rent increase guideline for Manitoba is set at 1.5 percent.
Landlords must provide tenants notice at least three months before a rent increase takes effect. The form and content of that notice is set out in the Residential Tenancies Act, or the Residential Tenancies Branch can provide the forms.
In most circumstances, rents can only be increased once a year.
This cap applies to most rentals, including apartments, single rooms, single-family homes and duplex units. However, some units are exempt, including:
Units renting for $1,455 or more per month as of December 31, 2016;
Personal care homes;
Approved rehabilitated rental units;
New buildings less than 15 years old where an occupancy permit was first issued or a unit was first occupied after April 9, 2001; and
New buildings less than 20 years old where an occupancy permit was first issued or a unit was first occupied after March 7, 2005.
According to the Manitoba Residential Tenancies Branch, tenants have the right to object to any increase in rent.
Landlords are allowed to apply for a larger increase if they can show that the guideline amount will not cover cost increases they have incurred.
For more information, visit the Manitoba Residential Tenancies Branch.
This post is provided by Tenant Verification Service, Inc., helping landlords reduce the risks of renting with fraud prevention tools that include Tenant Screening, Tenant Background Checks, (U.S. and Canada), as well as Criminal Background Checks, and Eviction Reports (U.S. only).
Click Here to Receive Landlord Credit Reports.
Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.