Under new residential tenancy legislation, the maximum allowable rent increases are tied to the inflation rate, which in turn is based on Consumer Price Index numbers. The rate for this year was 1.8 per cent.
As a result rent increases for 2005 will be restricted to 3.8 per cent for conventional renters two per cent plus 1.8 percent for inflation and 1.8 per cent for manufactured home park tenancies.
By way of comparison, the 2004 maximum allowable rent increases were 4.6 per cent for conventional tenancies and 2.6 per cent for manufactured home park tenancies.
The rent increase calculations came into effect on Jan. 1, with the new Residential Tenancy Act and Manufactured Home Park Tenancy Act. For more information, visit the Residential Tenancy Office at www.pssg.gov.bc.ca/rto.
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