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British Columbia - Changes to Fixed Term Tenancies and Rent Increases - Effective December 11, 2017

British Columbia - Changes to Fixed Term Tenancies and Rent Increases - Effective December 11, 2017

 

FIXED TERM LEASE

 

Effective December 11, 2017, fixed term tenancy agreements can no longer include a vacate clause requiring a tenant to move out at the end of the term unless:

  • The tenancy agreement is a sublease agreement; or
  • The tenancy is a fixed term tenancy in circumstances prescribed in section 13.1 of the Residential Tenancy Regulation. This Regulation specifies situations where a landlord or landlord's close family member plans in good faith to occupy the rental unit

 

A vacate clause requires a tenant to move out on the date the agreement ends. Landlords will no longer be able to include a "vacate" clause in a fixed-term tenancy agreement except in certain circumstances. The new rules will apply to both new and existing tenancy agreements.

 

Unless the landlord and tenant agree to another fixed term, the tenancy will automatically continue as a month-to-month tenancy under the same terms as the original agreement. This type of tenancy continues until one party serves notice or they both agree to end the tenancy.

 

RENT INCREASES

 

A rent increase for a tenant remaining in a rental unit is limited to the maximum annual allowable amount and can only be increased once every 12 months. Rent can no longer be increased above that amount between tenancy agreements with the same tenant. Landlords must provide tenants with three full rental months' notice of a rent increase and use the approved form.

 

Landlords are no longer able to apply for an additional rent increase on the basis that the rent is significantly lower than other similar rental units in the same geographic area.

 

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Alexandra Axsen

Lake Okanagan Realty Ltd.

Managing Broker

Tel: (250) 870-2792

Email: Alex@LakeOkanaganRealty.com

www.LakeOkanaganRealty.com

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