Landlords Are About To Bring The PAIN As BC Rent Increases Are Announced

The Province of BC just released their rental increase limit for January 2024 of 3.5%. This is up from the 2% limit imposed for 2023, however still does not keep pace with the annualized rate of inflation in the province.

In today's video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty discusses BC's 2024 rent increase announcement, the biggest factor that is driving up Canadian rental prices, and why rent cap increases may actually harm renters and even drive up the average rent in a market.

https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/during-a-tenancy/rent-increases

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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.