Allowable Rent Increase for 2016
Here is information on the allowable rent increase for 2016 courtesy of PAMA:
Rent Increases
Landlords can only increase the rent once a year by an amount permitted by law or an additional amount approved in advance by an arbitrator – they need to use the right form and give the tenant three full months’ notice of the rent increase.
- The maximum allowable rent increase changes each year. The limits for residential tenancies and manufactured home park tenancies are different. For residential tenancies, the standard allowable rent increase for 2016 is 2.9%
- For manufactured home park tenancies, the standard allowable rent increase for 2015 is 2.9% plus a proportional amount for the change in local government levies and regulated utility fees.
At Downtown Suites we advise all owners of the regulations regarding rental in the province of BC.
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