National

B.C. caps allowable rent increases at 3.5 per cent, 2 points lower than inflation

Darpan News Desk The Canadian Press, 11 Sep, 2023 01:10 PM

The British Columbia government has set the allowable rent increase for next year at 3.5 per cent.

The rate is more than two percentage points below the 12-month average inflation rate of 5.6 per cent.

Housing Minister Ravi Kahlon says in a statement that costs have been increasing, especially for housing, at a rate that's unsustainable for many people, and this increase is a balance to protect renters, while keeping units on the market.

The increase can be effective on or after Jan. 1, 2024.

Opening 58 new homes with @MableElmore under a co-operative model that secures residents ongoing affordable housing with below market rates.

We know there is more work to do - but today we ensured 58+ more seniors in Vancouver have increased access to housing in their community. pic.twitter.com/na3JdDnGmP
— Ravi Kahlon (@KahlonRav) September 11, 2023

The government says landlords must provide three months' notice to tenants and they are only allowed to hike the rent once a year.

Before 2018, the annual allowable rent increase was based on inflation plus two per cent, a freeze was put in place during the pandemic and then the province set rent increases at two per cent for this year.

Prev Next

MORE National ARTICLES

Restaurants and bars hope for holiday boom

Some restaurants and bars are starting to book holiday parties, both corporate and personal, but it remains to be seen whether bookings will return to pre-pandemic levels, There are also fears that the winter could bring a wave of cancellations, after last year’s holiday season saw COVID-19 cases skyrocket, and many establishments chose to close their doors for New Year’s Eve.

Restaurants and bars hope for holiday boom

PBO says new dental benefit vulnerable to fraud

The PBO recently estimated that the dental benefit will cost $703 million, while the rental support will cost up to $940 million. The dental benefit is meant to be an interim measure while the government works on a more complete dental-care program.

PBO says new dental benefit vulnerable to fraud

Four judicial appointments in British Columbia

The three newly appointed justices include Anita Chan, a Crown prosecutor with 27 years of experience, Joseph Doyle, a private practice lawyer with experience in civil, criminal and administrative law, and Kevin Loo, a former appeal court law clerk and now partner in a Vancouver law firm.

Four judicial appointments in British Columbia

Competition Bureau to study grocery sector

Food retail prices in September rose at the fastest pace since 1981, with prices up 11.4 per cent compared with a year ago. That compared with an overall inflation rate of 6.9 per cent. Although the inflation rate has dropped from its peak of 8.1 per cent in June, food prices are outstripping the overall consumer price index and continue to rise.

Competition Bureau to study grocery sector

Sunak's ascent means stability in Canada-U.K. ties

Sunak will be the third British prime minister in less than two months, following the resignations of both Boris Johnson and Liz Truss. Truss spent just six weeks in the role before she was forced to step down following economic turmoil in response to her proposed tax cuts.

Sunak's ascent means stability in Canada-U.K. ties

Anti-violence program for B.C. health-care workers

The BC Nurses Union has been calling for better protective measures for its members for at least 30 years. Its president, Aman Grewal, says nurses are punched, kicked, grabbed and verbally and sexually harassed at increasingly dangerous workplaces, where injury rates are under-reported and higher than those affecting first responders.