British Columbia's Housing Minister reviews regulations after a ruling allows a landlord to raise rent by 23.5%.
British Columbia's Housing Minister reviews regulations after a Residential Tenancy Branch ruling allows a landlord to raise rent by 23.5% for four tenants due to increased mortgage financing costs caused by rising interest rates in 2022. The landlord claimed these unforeseen expenses could not have been anticipated under reasonable circumstances, sparking concerns that this decision may encourage more landlords to apply for rent increases beyond the provincial government-mandated 3.5% increase for 2024.
August 15, 2024
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