What’s New For 2023
The Residential Tenancies Branch implemented a two-year rent freeze on all residential units, preventing landlords from increasing rent in 2023 to offset the costs of inflation. Rent for residential units remains at 2021 levels.
The freeze applies to:
- Rented houses, apartments, and condos
- Basement apartments
- Care homes and retirement homes
- Land lease communities
- Rent-geared-to-income units and market rent units in community housing
- Affordable housing units created through various government-funded programs
Rules For Increasing Rent
The guideline is the maximum a landlord can increase most tenants’ rent during a year without approval of the Residential Tenancies Branch. This means most residential rents cannot go up by more than the rent increase guideline for every year. The landlord has to provide a tenant with at least 90 days proper written notice in order to implement a rent increase.
The rent for residential units can be increased 12 months after:
- The last rent increase
- The start date of tenancy
Landlord Tenant Board Rent Increase Forms
LTB Rent Increase forms include:
- Form 1A- Notice of Rent Increase
- Form 3- Notice of Rent Increase Above Amount Permitted by Regulation
Landlords are able to apply for the Residential Tenancies Branch for a larger increase limit if they can demonstrate that the implemented guideline amount cannot cover the expense increases incurred.
The RTB takes the following factors into account when calculating the amount of rent increase above the guidelines:
- The increase in operating expenses incurred
- The allowable portion of capital expenses
- The economic adjustment factor
- The expenses incurred from any change in service
Get Your Rent Without The Stress
Set up automatic payments today with our Rent Collection tool.