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British Columbia Rent Increase 2023
Not sure where to begin to discuss rent increase with your tenant this year? Keep scrolling for all the information you need on British Columbia’s new 2023 Rent Increase guidelines.
What’s New For 2023
The British Columbia rent increase guideline for 2023 is 2%, which means if the landlord provides a tenant with at least 90 days proper written notice, they can increase the rent on a residential rental unit from $1,000 to $1,020.
Rules For Increasing Rent
Under the 2022 British Columbia Rent Increase guideline, the landlord must give at least 90 days written notice of the rent increase before it takes effect, and can only increase rent once in a 12-month period. In most cases, the rent for a residential unit can be increased 12 months after:
- The last rent increase (including assignments)
- The start date of tenancy
Residential Tenancy Branch Rent Increase Forms
Use the forms available from the Residential Tenancy Branch to give proper notice. Don’t forget, if you do not give proper notice, or raise the rent by an improper amount, your tenant can dispute it within 12 months after the amount was first changed.
Rent Increase forms include:
- RTB-7 Notice of Rent Increase
- RTB-52 Application for Additional Rent Increase
- RTB- 45 Notice of Standard Rent Increase- Manufactured Home Site
- RTB-11a Notice of Rent Increase- Manufactured Home Site
2023 Rent Increase Guideline
The guideline is the maximum a landlord can increase most tenants’ rent during a year without approval of the Residential Tenancy Branch.
This means that most residential rents cannot go up by more than the rent increase guideline for every year. For 2023, the British Columbia Rent Increase Guideline is 2%.
The guideline applies to most residential rental units covered by the Residential Tenancy Act such as:
- Rented houses, apartments, basement apartments and condos
- Care homes
- Mobile homes
- Land lease communities
The rent increase guideline does not apply to:
- Vacant residential units
- Community housing units
- Long-term care homes
- Commercial properties
- Social housing is covered by different rules regarding rent control and rent increase notices
Don’t Forget
Exceptions can be granted by the Residential Tenancy Branch for approval to raise rent by more than the rent increase guideline. Guidelines only apply to the rent portion of the bill for care homes, but does not apply to the cost of services like nursing, food, or cleaning.
Resolving Issues About Rent Control
Either tenants or landlords can contact the Residential Tenancy Branch and determine whether a unit is exempt from the rent increase guideline. To show a unit is exempt from rent control, a landlord should include an additional term in the lease stating such, and keep records that prove this is the case.
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, rated A+ by A.M. Best. Coverage is offered in the form of a surety performance bond. SingleKey is a participating member of Protected Cell Captive insurance company that is one hundred percent reinsured within the Lloyd’s Market rated A+ by A.M. Best.