As the global pandemic begins to level off, British Columbia will end its rental price freeze on January 1st, 2022. Allowing landlords to raise prices by 1.5%.
If you live in B.C., your landlord has to give you three months of notice before raising the price.
This freeze was implemented in March of 2020 and was extended once to last until the end of 2021 as well. Before the pandemic, the provincial government locked rent increases to the rate of inflation plus 2%, according to Storys.
It’s also worth noting that this new 1.5% increase doesn’t apply to commercial leases, co-op housing, non-profit leases and some assisted living facilities.
In Ontario next year, rent increases are locked down to 1.2%. Like B.C. it’s also lifting its rent freeze on January 1st, 2022.