Relief for Renters
Our BC NDP government is listening to the concerns of renters by cutting the annual allowable rent increase to match inflation. That means that effective January 1st, 2019, the an-nual allowable rent increase will be 2.5% instead of the forecast 4.5%. The old formula, which was set in 2004, was simply not sustainable for renters. British Columbia's 30-point housing plan includes investing $7 billion over 10 years to create new affordable rental and non-market housing. We have also made changes to protect renters in recent months, which include closing the fixed-term lease loophole which was causing unfair evictions, stopping geographic rent increases that were driving up rents in many neighbourhoods, as well as expanding the Rental Assis-tance Program and the Shelter Aid for Elderly Renters. There is much more work to be done and we will hear more recommendations from the Rental Housing Task Force this fall. I encourage you to call my office to learn more about how these changes affect you. You can also read more about the Residential Tenancy Act here:
https://bit.ly/2Etn6YI
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