BC Rental Task Force recommends holding rent increases to rate of inflation
by West Shore Voice News
Monday, September 24 ~ BC. The BC Government has received a recommendation from its Rental Housing Task Force to ease pressure on renters while still recognizing the cost factors for rental property owners.
At present, under legislation passed in 2004, the rental increase for 2019 would be 4.5%. That would be fast on the heels of the 4% increase for 2018 that impacted renters this year.
Recommendations to government include:
- changing the maximum rent increase formula, from the current formula of inflation plus 2%, to inflation only (2.5% for 2019), which would remove the automatic 2% yearly increase.
- giving landlords the ability to apply for an additional increase if they can show the formula would not cover maintenance and other costs incurred.
This will be addressed by government in the legislature after the Legislative Assembly reconvenes October 1.
“Our recommendations follow the approach of Ontario and Manitoba and will keep rent more affordable while ensuring rental homes are maintained and improved,” said task force chair Chandra Herbert.
The recommendations and policy direction are supported by the BC Greens. “Today’s announcement is a strong step in addressing both current and ongoing rental affordability,” said BC Green Leader Andrew Weaver in a statement today.
“The rental task force represents the best of minority government. We have two different parties that have come together on an issue of shared interest and have developed solutions for government to consider,” said Weaver.
“This is exactly the type of collaboration that we need more of in our political system,” Weaver said, as the referendum on changing the electoral system to proportional representation looms October 22 to November 30.
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