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:
• 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.