Premier John Horgan met with Housing Minister Selina Robinson today to announce that they are accepting the recommendations that were made Monday from the province’s rental housing task force.
They announced that they would cut the automatic 2% annual rental increase. As such, they are going to limit increase to inflation.
There was were was an uproar when the announcement was made earlier this month of a 4.5 per cent increase in 2019 due to a Consumer Price Index inflation rate of 2.5 per cent.
Now, the annual allowable rental increase for landlords in 2019 will be set at 2.5%, or the rate of inflation.