👉British Columbia landlords will be allowed to increase rent by as much as 3.5 percent in 2024, a move the province says is in keeping with affordability for tenants and landlords’ ability to retain rental units. While the increase, announced Monday, is below the current rate of inflation, it is also more than the allowable increase for 2023, which was two per cent. “Housing costs have been rising across the country, particularly for housing, at a rate that is unsustainable for many people,” said provincial Housing Minister Ravi Kahlon. According to the province, the average 12-month inflation rate is currently 5.6 percent. If landlords decide to raise rent, they must give tenants three months’ notice through a provincial form. Rent can only be increased once every 12 months.✅ . . #BritishColumbia #BC #BCrentals #RentinBritishColumbia #internationalstudentsinbc #CanadianHousing #HousingCrisis #mnm #malayalisnearmeapp #canadaupdate #canadanews