Allowable Rent Increases for 2014: Residential and Manufactured Home Parks

Allowable Rent Increases for 2014: Residential and Manufactured Home Parks

The Residential Tenancy Branch (RTB) has just issued a correction to the allowable 2014 rent increases for conventional residential tenancies and manufactured home park tenancies as follows:
 
Residential Tenancies:
 
•  For a conventional residential tenancy rent increase that takes effect in 2014, the allowable increase is 2.2%.
•  The annual allowable rent increase for conventional tenancies is determined by the formula in the Residential Tenancy Regulation.
 
Manufactured Home Parks
:    
 
•  For a manufactured home park tenancy rent increase that takes effect in 2014, the allowable increase is 2.2% plus a proportional amount.
•  The annual allowable rent increase for manufactured home park tenancies is determined by the formula in the Manufactured Home Park Tenancy Regulation.
•  The Notice of Rent Increase – Manufactured Home Site (auto-calculating version) RTB-11A will be updated with the 2014 increase on September 3, 2013.

NOTE: The above information will be posted on the Residential Tenancy Branch website at www.rto.gov.bc.ca/ along with forms and fact sheets regarding rent increases, and applicable tenancy regulations.  The RTB 24-hour Recorded Information Line will direct callers to the website.

Click here for PDF of this Notice.

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