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).
Tags: bc landlord, Landlord BC, legal rent, raise rent
