Your rent should be issue in provincial election: TRAC
Posted April 27, 2013 7:35 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Nearly two weeks into the provincial election campaign, we have yet to hear any major promises related to affordable housing in the province.
A group that advocates for renters says the new government could keep rent increases to a minimum.
Right now, maximum yearly increases are pegged to the inflation rate, plus two per cent. This year, BC landlords were allowed to increase rents by 3.8 per cent.
“Rents are outpacing wage increases, so this is an area we want changed,” says Andrew Sakamoto with the Tenant Resource and Advisory Centre, or TRAC.
The province of Ontario has just adopted a flat 2.5 per cent yearly increase cap.
TRAC is in favour of a similar flat rate, or basing the increase strictly on inflation.
“We think this is pretty reasonable. We’re not saying no increases should be allowed,” says Sakamoto, noting that landlords would still be able to apply for an exemption from the allowable increase limit.
He points out if landlords increased rents to the allowable limit ever year, their tenants are paying 44 per cent more in rent than they were ten years ago.
