Rent rises go into effect in British Columbia This is the province's largest increase in years. The hike was announced during the autumn season. The average rent for a one-bedroom unit in Vancouver is $2,866, according to Rentals.ca. For someone who has been renting for more than a year, the new rent will be $2,966.31.
This represents a monthly increase of $100.31 and an annual increase of $1,203.72. The increase would be around $50 for someone paying $1,500 per month in rent.Rent increases are only permitted once a year, and tenants must offer three months' notice. Officials advise tenants to be informed of the deadline and the accepted form of notification.