2019 Maximum Allowable Rent Increase Set For BC

By Melissa MacKenzie
September 13, 2018 - 4:08pm Updated: September 13, 2018 - 5:47pm

PRINCE GEORGE - With the province announcing its highest maximum rent increase in 15 years, it's affecting more than just renters. Companies like Pace Realty are seeing challenges that tie to the rising costs of things like gas, lumber and houses. 

"It's been really challenging to navigate a lot of those changes... we see a lot of investors starting to pull back from the market and say, I'm not really sure I can get my return on my investment," says MJ Jacobson, Managing Broker of Pace Realty. 

The rent increase takes effect in 2019. Landlords must provide three months' notice if they decide to raise rent. 

 

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