As I understand it, the maximum allowable rent increase is determined based on some CPI, inflation, etc. stuff. I'm sure the RTA has some formula for it, but I just go to the provincial government website to look it up:
Rent Increases - Province of British Columbia
Quote:
Landlords can only increase the rent once a year by an amount permitted by law or an additional amount approved in advance by an arbitrator – they need to use the right form and give the tenant three full months’ notice of the rent increase.
The maximum allowable rent increase changes each year. The limits for residential tenancies and manufactured home park tenancies are different.
- For residential tenancies, the standard allowable rent increase for 2015 is 2.5%
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So maybe you can get a $15 increase out of him, instead of just $14.
