The Province of BC has sent out a statement saying that the rent freeze that was imposed mainly because of the pandemic is going to end on December 31st.
A different news release from the Ministry of Attorney General stated that the maximum allowed rent increase for next year based on inflation is currently set at 1.5 per cent.
There will not be any rent increases allowed before the 31st of December and landlords will be required to give a minimum of three months notice before increasing the rent, which also means that the 1.5 per cent hike won’t be able to begin before the end of March.
The ministry also mentioned that rent in crease next year will be a lot less than increases that got limited to inflation because in previous years, landlords were allowed to charge another two per cent along with the annual inflation rate.
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