Archive for the ‘Rent Increase 2013’ Category

BC Landlords Question – How Much Can I Raise the Rent in 2013?

Tuesday, January 1st, 2013

January 1st, 2013

How Much Can I Raise the Rent in 2013

It’s the New Year and Landlords Can Raise the Rent 3.8% in 2013

British Columbia has rent control. This means the government dictates how much you can raise the rent every year for current tenants.

A BC landlord can raise the rent 3.8% in 2013.

(In 2012, the allowable rent increase was 4.3%)

Many landlords have emailed in asking how the government comes up with this number. It is the inflation rate, with an additional 2% added on.

How Does This Compare With Other Provinces?

In Ontario the 2013 allowable rent increase is capped at 2.5%

In Manitoba the allowable rent increase is only 1%

In Alberta? The government keeps their hands off.

So how do you calculate the 3.8% rent increase?

Here is an example:

If your tenants currently paid rent of $500/month, you can increase their rent by $21.50 in 2013.

This means the tenants will have to pay $521.50/month.

What if you want to charge your tenants more?

To do this you will have to either get your tenants to agree with it (and have this written down) or serve your tenants with a dispute resolution officer’s order which approves of the higher rent increase.

How can a landlord inform their tenants about the new rent price?

According to the law in British Columbia, the landlord must serve the tenants notice of the rent increase at least 3 months before the new rent price is charged.

Make sure you give at least 3 months notice or the tenants can legally refuse to pay the rent increase.

Should a landlord give their tenants a rent increase?

Yes. Use the rent increase to improve your property. Good tenants will understand. Remember, the key is finding Good Tenants!

 

BC Landlords You Can Raise the Rent by 3.8% in 2013. Use This Opportunity To Generate More Cash-flow and Use This Extra Money To Improve Your Rental Property Making It Better Than Ever

BC Landlords Can Raise the Rent 3.8 % in 2013

Monday, September 10th, 2012

September 9th, 2012

How Much Can A Landlord in BC Raise the Rent Next Year?

British Columbia landlords can raise the rent by up to 3.8% in 2013.

How Does That Compare with 2012?

In 2012 the maximum allowable increase was 4.3%.

How is the Rent Increase Guideline Calculated?

The rate is based on inflation plus two per cent.

How Does This Compare to Other Provinces?

In Ontario, landlords are faced with the 2013 rent increase being capped at 2.5%

How Do I Give My Tenants Notice I’m Going to Raise the Rent?

Rent increase documents are available from government Residential Tenancy Branch here

What Does the BCLA Recommend Landlords Due Regarding the Rent Increase Guideline for 2013?

We recommend BC landlords raise the rent the maximum amount of 3.8% in 2013.  With an election on the way, the rent increase may be much lower, or even capped, in the near future.