Are you a tenant in British Columbia paying rent? If so, it’s important to be aware of the new rent increase limit set for 2024, announced in September 2023. To find out the allowable rent increase for 2024, scroll down the page for all the details.
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BC Rent Increase 2024
In 2024, landlords in British Columbia will be able to raise rent by 3.5%, up from the current 2%. The Ministry of Housing announced this increase on September 11, 2024. Rent hikes were cancelled in 2020 and 2021 to assist residents save money.
The new rate of 3.5% is still below the average annual inflation rate of 5.4%. For the second year in a row, rental hikes are set below the province’s inflation rate. Along with the rent increase, landlords are advised to allocate funds for adjustments to local government taxes and regulated utility rates.
Prior to 2018, the annual rent increase allowed in British Columbia was determined by adding two percent to the provincial inflation rate. This additional two percent was eliminated following a recommendation by the Rental Housing Task Force, so the cap is now solely based on the inflation rate.
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British Columbia Rent Increase 2024
In British Columbia, landlords are only allowed to raise rent once a year, and only after the current rate has been agreed upon with the tenants or if the rent was increased by law. This rule also applies if there is a change in landlord or tenant.
Landlords are not allowed to implement retroactive rent increases, even if the landlord:
- Did not raise the rent the prior year.
- Increased the rent by only a portion of the permitted amount and now wants to apply the remaining increase.
BC Rent Increase for the Five Years
The rent increase limit for 2024 will be the highest compared to the past five years.
| Year | Rent Increase Limit in Percentage |
| 2019 | 2.5% |
| 2020 | 2.6% |
| 2021 | 0% |
| 2022 | 1.5% |
| 2024 | 2% |
| 2024 | 3.5% |
How Much Does Allowable Rent Increase in British Columbia?
The rent increase cannot exceed the limit set by the regulations, and landlords are not allowed to round up the amount.
If tenants have paid a rent increase that is higher than the allowed limit, they can deduct the overpayment from future rent. The tenant must provide a written explanation to the landlord, justifying why they are not paying the full amount requested.
Notice of the Rent Increase Form
If landlords decide to raise rent, they must use the appropriate Notice of Rent Increase form and provide renters with a full three-month notice. In British Columbia, landlords are limited to one rent increase per year.
When using the rent increase form, be careful not to round off the calculated rent increase amount. Make sure to complete both pages of the form, including both boxes on the second page.
What to do for Unlawful Rent Increase in BC?
Tenants may provide documentation from the landlord confirming the permitted rent amount if the landlord requests a rent increase above the designated cap. If the landlord does not comply, tenants can file a dispute resolution application and request an order for the landlord to adhere to the law.
However, if an arbitrator approves a rent increase above this year’s cap, the tenant is not eligible for dispute settlement regarding that increase.
For additional information, you can contact the Residential Tenancy Branch or email your queries to [email protected]. Alternatively, you can call 1-800-665-8779 from Monday to Friday, 9 am to 4 pm.
Conclusion
Understanding the allowable rent increase in British Columbia for 2024 is essential for both tenants and landlords. The province sets a maximum allowable rent increase each year to balance the needs of tenants to afford housing and landlords to maintain and invest in their properties. By staying informed about these regulations, tenants can protect themselves from unlawful rent hikes, and landlords can ensure they comply with the law.
FAQs
What is the allowable rent increase for 2024 in British Columbia?
The allowable rent increase for 2024 in British Columbia is determined by the provincial government. It is typically announced each year and based on inflation rates and other economic factors.
When can landlords implement the rent increase?
Landlords can implement the rent increase once per year with at least three months’ written notice to the tenant, using the appropriate form provided by the Residential Tenancy Branch.