Here’s how much B.C. landlords can increase rent by next yearSynergy Mortgage
VANCOUVER — After a nearly year-long moratorium on rent increases, landlords will be able to charge more next year. The province announced Thursday that the maximum allowable increase for 2021 will be 1.4 per cent.
The increase for those living in mobile homes is the same, plus a proportional amount for changes in levies and utility fees. Prior to charging more, landlords must give their tenants at least three full months’ notice in B.C., using a notice of rent increase form.
The current freeze is in place until December. But renters previously protected by COVID-prompted eviction rules are expected pay their rent in full as of this month
B.C. previously banned evictions over non-payment as a protection during the height of the pandemic, but the moratorium expired mid-August. However, tenants have until next summer to pay money owed for previous months.
Landlords are required to give tenants a prepayment plan that allows owed rent to be paid back in instalments. The province says renters still experiencing a loss of income due to COVID-19 may be eligible for its Rental Assistance Program or the Shelter Aid for Early Renters program.