Maximum allowable rent increase for British Columbia set at 1.4% for 2021

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The province has announced that the maximum allowable rent increase in British Columbia has been set at 1.4% for 2021, which is almost half of the 2.6% maximum in place for 2020 .The province announced the new limits on Thursday.

Landlords currently cannot raise rents for tenants who suffered lost income during the pandemic, as the province has a rent freeze in effect until December 2020 to help these families.

The province said on Thursday that tenants who received a notice of increase for 2020 that would take effect after March 18 should continue to pay their current rent until November 30.

Landlords must give tenants a full three months notice of an increase using a government approved Notice of Rent Increase form. The rent can only be increased once a year.

Next year will mark the third year of updating provincial regulations limiting the allowable increase to the cost of inflation alone. Under the old rules, changed in 2018, landlords could increase rents based on the cost of inflation and add an additional 2%.

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