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Vancouver Landlords: Rent Increase Guideline 2014

January 4th, 2014 · No Comments · Rent Increase 2014, Vancouver landlords

Vancouver landlords Rent Increase Guideline 2014

Happy new year and we wish the best to all Vancouver landlords in the new year.

If you are a Chinese residential real estate investor or landlord we also wish you the best for the upcoming Chinese New Year.

It’s the year of horse and that means we hope property prices and rents gallop fast!

How Much Can Vancouver Landlords Raise the Rent in 2014?

British Columbia landlords are subject to what is called ‘rent control.’

This means the government dictates how much landlords can raise the rent for your existing tenants in your rental properties.

Every year the Residential Tenancy Branch of the provincial government will publish the allowable rent increase on their website.

Question:      

How Much Can Vancouver Landlords Raise the Rent in 2014?

Answer:        

Vancouver landlords can raise the rent 2.2% in 2014

Isn’t that very low?

Yes, it is.

Many landlords in the province are unhappy with the low allowable rent increase.

You can go read what Surrey landlords think about it.

They aren’t happy.

How Does Our Rent Increase Compare to Other Provinces?

Landlords in Alberta don’t have any legal guideline.

What Does This Mean?

It means if you are a Calgary landlord or a landlord in Edmonton you can raise the rent as much as you want as long as you give three months notice of the increase to your tenants.

With vacancies so low and so many tenants out there some Lethbridge landlords are raising the rent by over $100 per month.

Does Anyone Have It Worse Than We Do?

Yes.

Ontario landlords are facing a very low rent increase guideline of only 0.8% in 2014.

And they aren’t happy about it.

To see what I’m writing about go check out what Ottawa landlords are saying about the Ontario rent increase guideline.

Barrie landlords are even more upset about not being to recover their growing list of expenses for the new year.

Vancouver Landlords 2014

This year we will continue to provide news, advice and tips for landlords in our amazing city.

Keep reading and we look forward for a terrific new year for landlords in Vancouver and all over British Columbia.

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