The rate for the maximum allowable rent increase has been set for B.C. in 2019.
The government uses the B.C. Consumer Price Index and the formula for rent increases, which adds up to a top annual rent increase of 4.5%. But it's the largest allowable rent hike in more than a decade.
The maximum percentage allowed each year is 2% plus the inflation rate using the 12 month average percentage change in the Consumer Price Index ending in July at 2.5%.
Landlords must provide tenants with 3 full months' notice using the correct notice of rent increase form.