B.C. keeps rent increases low

Rent increase for residential tenancies set at 2.5 per cent for 2015

  • Dec. 24, 2014 12:00 p.m.

The B.C. government is maintaining a low allowable rent increase.

The province is keeping the allowable rent increase for residential tenancies at 2.5 per cent for 2015. For manufactured home park tenancies, the rate is 2.5 per cent plus a proportional amount for the change in municipal and utility fees.

In addition to keeping rent increases low, the provincial government provides rental assistance to support low-to-moderate-income families and seniors renting in the private market.

In 2014, the provincial government increased the average monthly supplement for a family from $370 to $420. Last year, more than 28,000 households throughout B.C. benefited from rental assistance.