BC Government Recommends New Formula to Create More Affordable Housing

Thursday, September 27, 2018
Author: 
Andrew MacLeod
Source: 
The Tyee

Advocates for tenants in BC are pleased to see that the British Columbian government has acted on a task force recommendation to slash the allowable rent increase for 2019. Since 2004 rent has risen at the rate of inflation plus an extra two per cent each year. The new recommendation by the government’s task force included allowing the cap to rise at the rate of inflation without the extra two percent. If landowners feel they need to raise rents faster than inflation to cover their costs, they can apply to the Residential Tenancy Branch.

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