Rental housing task force recommends changes to yearly rent increases in BC
A task force examining the heated issue of annual rent increases that are permitted in British Columbia has recommended the hikes be reduced and tied only to inflation.
Task force chairman and NDP member of the legislature Spencer Chandra Herbert says the province should scrap the current model of calculating rent increases which allows landlords an annual hike of two per cent plus the inflation rate.
The recommendations also call on the government to require landlords to apply for additional rent increases if they can prove maintenance and other costs can’t be covered by the inflation-based increase alone.
“Our recommendations follow the approach of Ontario and Manitoba and will keep rent more affordable while ensuring rental homes are maintained and improved,” Chandra Herbert said in a release.
The announcement comes after the province announced earlier this month, that renters are set to face the biggest allowable rent increase since 2004.