Housing Minister Kavi Kahlon says the inflation-indexed rent cap protects tenants against unfair rent hikes while letting landlords cover rising costs.
VICTORIA — The maximum allowable rent increase in British Columbia next year will be 3.0 per cent, down from the current 3.5 per cent.
Housing Minister Ravi Kahlon says in a news release that keying rent rises to inflation "saves renters hundreds of dollars" compared to the previous government's policy of allowing increases of inflation plus two per cent. The ministry says the allowable rent increase is defined by the change in the all-items consumer price index for the province for the year up to July.
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