BC Government to allow for 2.6% increase for rentals in 2020

For those on the North Coast that can find some reasonable rental accommodation, the province delivered some additional good news on Wednesday, rolling out their decision on how much additional rent a landlord may be able to seek in 2020.

Renters and landlords in British Columbia have been given the calculus for rental increases for the year ahead, with the BC government announcing yesterday that the allowable rent increase has been set at 2.6%, which is the province's annual rate of inflation.

The rate for next year will be 2 per cent lower than it would have been prior to the reduction that the government made in 2019.

In their notes of yesterday the Ministry of Municipal Affairs and Housing noted that:

By removing the extra 2%, renters living in a $1,250 per month apartment (the average rent in B.C.) can save up to $300 next year. People in an average two-bedroom apartment in Vancouver can save up to $471 annually. 

These savings complement improvements to both the Shelter Aid for Elderly Renters program and Rental Assistance Program, which help low- and moderate-income seniors and families afford to rent in B.C.

The government has also taken steps to strengthen protections for renters, limiting evictions related to property renovations as well as to increase compensation for bad-faith evictions.

“The new compliance unit has been investigating a number of cases involving illegal renovictions and landlords trying to evade the annual allowable rent increase. We want renters to feel secure in their homes and to know their rights, and the compliance unit is ensuring that landlords understand that there will be serious consequences for deliberately not following their obligations with the tenancy laws in the province.” -- Scott McGregor, director, Compliance and Enforcement Unit

They Ministry has also strengthened the requirements for eviction notifications; as well in July they issued new Residential Tenancy Branch guidelines that provide landlords and renters with stronger guidance in a number of areas included on the list:

The limited types of major repairs that truly require vacancy
The good-faith requirement
Necessary permits required by landlords
Case law regarding renters’ ability to sustain tenancies during renovations

Selina Robinson, British Columbia's Minister of Municipal Affairs and Housing observed on how the government moves have brought about change in the rental field:

“Renters need secure housing they can afford. That’s why we removed the additional 2% above inflation that the old government allowed for rent increases since 2004. Under the old formula, renters would have seen a rent hike of more than 9% over 2019 and 2020. Because of our changes and the removal of the fixed-term loophole, people will no longer face the unreasonable rent hikes that were allowed for years.”

You can review more background from yesterday's announcement here, included in the information package are a number of links to a number of housing related themes from the provincial government.

For a look at some of the housing issues of the Northwest see our archive page here.

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