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ARTICLE · 17 AUGUST 2021

Cents And Sensibility: Obtaining An Additional Rent Increase For Capital Expenditures

Alexander Holburn Beaudin + Lang LLP
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As of July 1, 2021, landlords are now permitted to apply to the BC Residential Tenancy Branch for an additional rent increase to offset a "capital expenditure".

CanadaReal Estate and Construction
Lisa N. Mackie
Lisa N. Mackie
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As of July 1, 2021, landlords are now permitted to apply to the BC Residential Tenancy Branch for an additional rent increase to offset a "capital expenditure". Given that landlords have been extremely restricted in their rent increase opportunities over the last several years (and entirely banned from increasing the rent between March 30, 2020 and January 1, 2022), the opportunity to offset significant building expenses comes as welcome news. The additional rent increase opportunity originates from early recommendations from the BC Rental Housing Task Force. Its goal was a simple one: to build better homes for renters, while creating more opportunities for landlords to invest in their rental housing.

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