The province's Consumer Protection and Government Services branch announced yesterday that the 2024 rent guideline will be at three per cent in 2024.
The increase will be effective on January 1st, 2024, and does not apply to:
- Rental units going for $1,615 or more a month.
- Various social housing units.
- Rental units owned and operated by, or for, municipal, provincial or federal governments.
- Rental units in buildings first occupied after March 2005.
- Not-for-profit life lease units.
- Co-operative units.
- Approved rehabilitated rental units.
This will be the first time since 2021 that the rent guideline will increase after it was set at zero per cent for 2022 and 2023.
Rent prices can only be increased once per year and tenants must get written notice of a rent increase at least three months prior to the increase taking effect.
Landlords and tenants who want to learn more about rent increases can phone the Residential Tenancies Branch at 204-945-2476 or toll free at 1-800-782-8403.
