1 day ago
Swift News
Landlords will only be allowed to increase residential rent in B.C. by 2.3 per cent next year.
In a news release, the Ministry of Housing said it is capping the annual rent increase at 2.3 per cent in 2026, down from three per cent in 2025 and 3.5 per cent in 2024. However, it's still higher than the two per cent increase in 2023.
The province said the maximum allowable increase is tied to inflation, in particular the Consumer Price Index, which represents changes in goods and services, such as food, shelter and transportation by comparing them over time.
"B.C. is an extraordinary place, but with economic uncertainty and rising costs, people are struggling to find a place to live that fits in their budget," Housing Minister Christine Boyle said in a statement.
