How Much Can British Columbia Landlords Raise The Rent In 2023?
It’s Only 2%
The provincial government of British Columbia announced the maximum allowable rent increase on tenants for 2023.
Landlords in B.C. are able to increase rents by 2 per cent in 2023.
The British Columbia government made it clear landlords must give tenants three months’ notice if they want to increase rent.
To find out more about how to raise the rent in 2023 click here.
BC Landlords have had a very challenging 2020.
With the Covid pandemic many tenants couldn’t (or just didn’t) pay rent and this led to financial stress on many of us. Despite some help from the province, many did not collect full rent and others faced late rent regularly.
No Rent Increase
Small BC landlords know how our costs are rising and how important it is to increase the rent to try to cover your costs. Unfortunately, the NDP government won’t allow small landlords to raise our rents until July 2021.
Opportunities in 2021
Experienced and successful British Columbia landlords know there will also be opportunities in 2021.
When the economy gets stronger there will be more people coming to our province to work. These more qualified tenants will be on the way and looking for great rentals.
Students will also be returning. This will lead to a very strong rebound in the student rental sector.
Tenant Screening
Make sure you continue to screen your potential renters carefully. This should include references, employment proof and a credit check.
You can join the BC Landlords Association and begin running checks for under $10/check.
BC Landlords Face Challenges And Opportunities in 2021
Make sure you take advantage of the opportunities and make sure you screen all potential tenants with a credit check.
Despite All The Challenges Small BC Landlords Already Face, Now Rents Are Frozen Until July 2021
It wasn’t long ago that British Columbia landlords were informed we could raise the rent by up to 1.4% in 2021.
This has now changed.
B.C. rent freeze extended to July 2021
Premier John Horgan’s NDP government has extended the freeze on rent increases until July 10, 2021, one of the government’s first initiatives since being re-elected on Oct. 24.
Tenants Need Help To Pay Landlords The Rent They Owe
The rent freeze will not help most tenants as the rate for 2021 was already at a low of only 1.4%. If the Premier wants to help tenants not be be evicted he needs to extend other programs as well.
BC Landlords Association Calls For Extension Of The $500-a-month Rental Assistance Program
Our province was the leader in Canada in helping hard working tenants pay rent and help small landlords (who need rent for our businesses to survive) at least get some rent.
In many cases our tens of thousands of BC landlord members said when tenants were getting government help, it allowed landlords to work out payment plans with our tenants to avoid evictions.
Let’s Continue To Help Tenants And Help Landlords Avoid Evicting Our Tenants
The BC Landlords Association has always been grassroots.
We don’t have “spokesmen” with high salaries who aren’t even landlords giving empty speeches and expensing their lunches and cocktails at 5 star hotels.
They shamefully got all excited after our grassroots association took off and they tried to cash in and have failed landlords across British Columbia!
We’re landlords just like you!
Rent Increases Are Frozen Until July 2021, And We Need An Extension By the Premier To Extend Help For Tenants
Let’s continue to be the leader in fairness for both tenants and landlords and work together to through these challenging times
BC Landlords Association Want A Win-Win Solution For Landlords and Tenants
Let’s get this done and be the example other provinces in Canada will follow…and countries around the world will follow!
With So Many Problems From A Small Group of Bad Tenants Out There More Landlords Are Using Criminal Checks to Protect Their Rental Properties…And Now You Can Too For a Discounted Price!
BC landlords are excited about how many great tenants are out there. These are tenants who pay their rent on time and respect both the rental property and their landlord in a mature and professional manner.
Many BC landlords have faced problems with their tenants during the Covid-19 pandemic. It’s now more important than ever to protect yourself and your property!
Take Your Tenant Screening System To A Higher Level (Not Just Credit Checks, Social Media and References)
It’s time to make sure you run criminal background checks on your potential tenants. And you can now do so with our Protection Membership.
The BC Landlords Association has brought forth a revolution in tenant screening over the past decade.
Experienced and successful landlords in our community were the ones who educated others on the importance of screening your tenants very carefully. Before we came along there was very little talk about landlord issues and few BC landlords even knew they could run credit checks on tenants (and why they should run them).
With so many good people looking for a place to ‘call home’ and rent from you, it is essential that small landlords avoid the professional tenants out there.
These professional tenants know how to manipulate the system and can lead small landlords to not only sleepless nights, but to financial ruin.
Professional Tenants Hurt Good Tenants, Not Only Their Landlord
These types of people who make leave huge damages and owed rent behind not only hurt the landlord, it hurts good tenants who are looking for a nice rental property. Landlords who face huge financial losses often leave the industry. Or they will raise rents to help pay for the repair costs.
Sadly, we continue to see some landlords not being careful and being ripped off by these professional tenants.
We Are Proud To Be Partners With TRITON
Triton is the leading background company in Canada.
Regular criminal check price: $59.00/check + $75.00 set up charge
BC Landlord Member Price: $24.95/check and no set up charge
And it’s all for only a one time fee (no annual fee). We landlords just like you and we know how tight the budgets are for many BC Landlords and this is why we want to keep your costs down for the best services out there.
BC Landlord Tenant Criminal Checks – Become a BC LANDLORD PROTECTION Member And You Can Add Criminal Checks To Your Tenant Screening System For A Huge Discount!
Tenants Not Paying Rent?
Landlord and Tenant Branch is Closed?
Government Says Evictions Are Illegal?
What’s Going On And How Can Landlords Survive (and even thrive?)
The rental industry is pretty crazy these days. According to the government we can’t even evict tenants who refuse to pay to pay rent.
And lawyers and paralegals are demanding huge fees to “help” you with no guarantees of refunds if they lose at the tenancy branch.
Go ahead and ask them: if you don’t give me the result for the thousands of dollars I pay, will you pay me back?
Now is the time for all small business landlords to join our community and we become a strong voice for change!
Network with other landlords, many successful and experienced, to make sure your rental business succeeds
Join Our Landlord Community for A One Time Registration Fee!
My name is Laura and I post under my name on the BC Landlords Forum. I’ve been active there for years to try to help other tenants and give some of my advice to help small landlords too.
These are crazy times for everyone.
And while tenants are suffering it’s also important to know your landlord might be suffering too. This pandemic is hurting everyone.
We Need To Stick Together
I used to own a house and we rented our basement out years ago and it really helped us cover our mortgage. When my husband died my children were grown so I decided to sell the house and rent.
Renting has a lot of advantages.
I don’t have to worry about any maintenance issues and my landlady has a service to cut the lawn and plow the snow. My landlord cover my utilities so she can get just one payment each month to keep things uncomplicated.
My landlady is a teacher and her husband has his own contracting company and they are terrific.
“Are You Going To Pay The Rent?”
When all this chaos started in March and the government said ‘tenants don’t have to pay rent” my landlady called me and asked me if I was going to pay the rent.
I told her “of course I will”. She was thankful and said if I needed a break just call her.
My Landlady Is Professional and Kind, And I Make Paying Rent A Priority
I’m in a pretty good situation where I don’t need to worry about buying food and my children are adults now. I know others might not be as safe as I am.
I’m going to pay the rent not only because it’s the right thing to do, but because I want to keep my excellent relationship with my landlady and know that if I don’t pay rent it could hurt her financially (and even lead to her selling this place).
Pay You Rent And If You Can’t Call Your Landlord
My landlady isn’t some big global corporation. She and her family invested and thanks to them I have a great place to stay at a great price.
Rent Strike Hits Small Landlords, Not The Corporate Landlords
-Not paying rent will just get rid of the small nice landlords who care about you.
-Not paying rent will not impact the big heartless corporations.
-The whole “rent strike” people are likely corporate landlords who want to get rid of small landlords who are their competition. At least that’s what I think.
Stay Home and Stay Safe!
I’m so happy to have a great rental with a great landlady. I feel safe and don’t ever want to move.
With Love And Wishing Everyone Stays Safe,
Laura
.
Join Our Helpful and Supportive Community For Your Rental Business Success
BC landlords face a lot of challenges and need to be informed and careful to succeed in the current anti-landlord environment.
Join our BC Landlord Community to network with experienced and successful British Columbia landlords.
Our community is in BC and all across Canada with tens of thousands of residential landlords networking and helping each other.
Join us and join our winning team.
See the information on our services pages for details.
Make Your Rental Business Successful and Profitable! (and make sure you rent to great tenants!)
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).
