BC’s Rental Housing Task Force believes they may have the solution as concern mounts over rental rate increases in the province.
After months of consultation with both renters and landlords in the province, the Task Force has come up with a few recommendations.
Currently, a landlord may increase rent once per year to the tune of the rate of inflation plus 2 percent.
It is the recommendation of the task force that the additional 2 percent be eliminated, and replaced with a program that would allow landlords to apply for further increases if needed to cover maintenance and upkeep.
This would see rent increases for 2019 drop from 4.5 percent to 2.5 percent.