Archive for the ‘B.C. rent increase 2019’ Category

BC Landlords Can Raise the Rent 2.5% In 2019 (Not 4.5%)

Friday, September 28th, 2018

bc landlord rent increase guideline for 2019

The BC Annual Rent Guideline Formula Has Changed. It Is Now “Inflation Rate Only”

The  BC government has made a significant change in the way residential landlords can raise the rent for existing tenants.

Previously, landlords could raise the rent by the inflation rate + 2%.  Thus, the 2019 rent increase guideline used to be 4.5% but no longer. 

Things have changed and the new allowable rent increase guideline is 2.5%.  This is a big challenge for small landlords who are already struggling to keep up with rising costs. 

These costs are often not included in the standard formula to come up with the ‘inflation rate.’  The added 2% helped protect landlords from rising costs of contractors, taxes, and many other items. It was even viewed a fair model for raising rents in other provinces looking to improve their rental industries.

BC landlords make sure you know the new rules.  It’s more important then ever before to make sure you find good tenants. 

And even when you find good tenants you need to know how to deal with any problems or situations that might occur as it will be more difficult now to keep up with rising costs.

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B.C. maximum allowable rent increase for 2019 is 4.5%

Sunday, September 9th, 2018

BC landlord rent increase 2019

This is the largest rent increase since 2004

Successful BC landlords know how important it is to raise your rents every year.  With inflation and rising costs if you don’t raise the rent you can quickly fall into the trap of not only losing your cash-flow but even being cash-flow negative! Losing money every month can be a stressful and scary experience!

Many landlords across British Columbia were worried this year the rent guideline would be very low. 

After all, BC landlords are facing a lot of challenges these days. For many of us, it feels like investing in real estate, creating jobs and great rental properties is a ‘bad thing’ in BC.

Many landlords are even thinking of investing outside of BC now.

The good news is the rent increase guideline for 2019 is very fair. The BC government has set the maximum allowable rent increase at 4.5% in 2019.  It was only 4% for 2018.

This is the biggest increase since 2004 (When it was capped at 4.6%). Alberta landlords can raise the rent as much as the market can bear each year with property notice. 

Many Ontario landlords are furious that despite the same type of inflation and rising costs as we have in BC they can only raise the rent by 1.8% in 2019.

BC Landlord Landlord Rent Increase Guideline 2019

BC landlords you can raise the rent 4.5% in 2019.  According to the CBC this has many BC tenants angry but this is a great step by the gov’t to help us small landlords succeed (and not sell and invest in friendlier markets).

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