Residential landlords in B.C. will be restricted to to a 1.5 per cent rent increase, based on the rate of inflation, in 2022.
The threshold was announced by the province Wednesday morning.
Rent increases can't take effect until Jan.1, and landlords must provide three full months' notice of any impending rent increase.
This will be the first increase landlords will be allowed to impose to tenants since the government imposed a rent freeze nearly 18 months ago.
"The 2022 maximum allowable rent increase is significantly less than what it would have been prior to changes made by the province in 2018 that limited rent increases to inflation," a government news release stated.
"Prior to that change, maximum rent increases could include an additional two per cent on top of inflation."
The practice of "illegal renovictions" — evictions to complete renovations to a property — has also been banned.
Landlords are required to apply to the Residential Tenancy Branch for pre-approval before ending a tenancy.
Rents can only be increased once during a calendar year.
