2022 RENT INCREASE CAPPED AT 1.5% IN B.C.
With the province-wide pandemic rent freeze set to expire at the end of the year, the government has announced that landlords cannot raise rents by more than 1.5 per cent for 2022.
The maximum allowable increase is tied to inflation and was released by the Attorney General and Ministry responsible for Housing on Wednesday.
Any rent hike in 2022 cannot take place before Jan.1 and must be preceded by three months’ notice from the landlord provided to the tenant.
The province introduced a rent freeze during the pandemic which is set to expire Dec. 31, 2021.
Landlords in B.C. can only increase rents once per year. Since 2018, the rate of increase has been tied to the rate of inflation.
The maximum allowable increase does not apply to commercial tenancies, non-profit housing tenancies where rent is geared to income, co-operative housing and some assisted-living facilities.