The BC government has set the annual allowable rent increase for 2025 at 3 per cent, down slightly from this year’s allowable increase of 3.5 per cent.

Allowable rent increases will max out at 2.5 per cent for most of Ontario’s sitting residential tenants in 2024, trailing the current 5.9 per cent average inflation rate.

About $248 million from the education levy will be returned to property taxpayers this year through 25 per cent rebates to residential/farm ratepayers and 10 per cent rebates to commercial/industrial ratepayers.

The maximum annual allowable rent increase in B.C. for 2021 is 1.4 per cent, which is less than half of what it would have been before COVID.

The Government of British Columbia is keeping the allowable rent increase for residential tenancies at 2.5 per cent for 2015. This means no change from the rate established in 2014. By law, the rate of rent increase is calculated by a formula of two per cent plus the rate of inflation.