Rent rises go into effect in British Columbia

 

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.