B.C. rents can rise just 1.4 per cent after freeze ends
Glen Korstrom • September 10, 2020
Residential rental rate freeze ends in December but landlords will have to keep rental increases at low level into next year, province says
The B.C. government plans to end its freeze on rent increases starting in December, 2020.
Starting in 2021, landlords will be allowed to raise rents by a maximum of 1.4 per cent. The freeze on raising rents went into effect in March, and landlords are only able to raise the rent once a year, so the freeze on rent hikes did not help all renters, but impacted all landlords.
Any tenant who received a notice to increase rent that would have gone into effect after March 18 is allowed to pay their current rent until November, 2020, the B.C. government said in a statement on September 3.
B.C. landlords must provide tenants with three months' notice using a notice-of-rent-increase form so the earliest that the new 1.4 per cent increase could kick in would be January, 2021.
Before 2018, B.C. landlords were able to raise rents by the rate of inflation, plus an additional 2 per cent This translated into a maximum 2.6 per cent increase in 2020, before the rent freeze came into effect.
B.C. landlords must provide tenants with three months' notice using a notice-of-rent-increase form so the earliest that the new 1.4 per cent increase could kick in would be January, 2021.
Starting in 2021, landlords will be allowed to raise rents by a maximum of 1.4 per cent. The freeze on raising rents went into effect in March, and landlords are only able to raise the rent once a year, so the freeze on rent hikes did not help all renters, but impacted all landlords.
Any tenant who received a notice to increase rent that would have gone into effect after March 18 is allowed to pay their current rent until November, 2020, the B.C. government said in a statement on September 3.
B.C. landlords must provide tenants with three months' notice using a notice-of-rent-increase form so the earliest that the new 1.4 per cent increase could kick in would be January, 2021.
Before 2018, B.C. landlords were able to raise rents by the rate of inflation, plus an additional 2 per cent This translated into a maximum 2.6 per cent increase in 2020, before the rent freeze came into effect.
B.C. landlords must provide tenants with three months' notice using a notice-of-rent-increase form so the earliest that the new 1.4 per cent increase could kick in would be January, 2021.
The B.C. government removed the ability to add the extra 2 per cent rent hike in 2018 – a tweak that means that renters living in a $1,320-per-month apartment, which is the cost of the average two-bedroom rental unit in B.C., will save up to $317 in 2021, and people living in an average two-bedroom apartment in Vancouver will save about $420, according to the B.C. government. It said the end to the freeze on rent hikes enables property owners to make investments and repairs to maintain safe housing, while ensuring rent increases are moderate and predictable.
A decorative fence is to keep people away from the damaged monument for now 👉 More Details Here
Old mall in the centre of town made way for a new master-planned development 👉 More Details Here
Looking for a place where you can ride horses in the morning, garden in the afternoon, and still make it to Costco or a downtown meeting in under 40 minutes? Glen Valley might be precisely what you're looking for. In this video, I’ll take you on a journey through one of Langley’s most unique and underrated communities. Tucked just east of Fort Langley, Glen Valley offers privacy, space, and rural charm—without giving up convenience. Whether you’re dreaming of a one-acre homestead, a family farm, or a secluded country estate near Thunderbird Show Park, Glen Valley has something special for you. 📩 Want daily listings and weekly sold updates for Glen Valley? ➡️ Sign up here: https://rly.forsale/Glen-Valley 🌿 In This Video: ✅ Where is Glen Valley located ✅ What types of properties are available ✅ Why it’s a top choice for horse lovers and nature seekers ✅ What it means to live “off the beaten path” ✅ How to get real-time updates on listings and sold prices 📞 Ready to talk about buying or selling in Glen Valley? Let’s chat: 📅 https://calendly.com/andyschildhorn 📞 778.835.8957 📧 [email protected] 🌐 www.AndytheRealtor.com 💬 What draws you to Glen Valley? Is it the privacy, the space, or the connection to nature? Leave a comment below—I’d love to hear your thoughts! And don’t forget to like, comment, and subscribe for more insights on life and real estate in Langley and the Fraser Valley.
