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Rents going up by 2.9 per cent in 2016

VANCOUVER (NEWS 1130) – Renters in BC will likely be paying 2.9 per cent more to house themselves next year – that’s the maximum allowable rent increase for next year, which is based on inflation plus two per cent.

Russ Godfrey with the Tenant Resource and Advisory Centre points out the yearly increases add up to about a 40 per cent increase in rent over the span of a decade for tenants who’ve stayed in the same apartment.

And he’s noticing another troubling trend – the use of fixed-term leases – which allows landlords to jack up rents after the term of the lease expires.

“Landlords put tenants in leases that circumvent rent control. That means they can raise rents by $200 a month, for example, if the tenant wants to renew a lease that has a clause that says they have to move unless they sign a new term, which includes a rent increase.”

He’s disappointed housing hasn’t been a bigger issue during the federal election campaign, especially given a sobering study released last month saying one in five Canadians are in some sort of housing crisis.

The report says, among other things, a quarter of British Columbians are spending too much on rent, compared to their income.

“Housing should be front and centre, because it’s an essential human need,” says Godfrey, who accuses political leaders of ignoring the issue at a time when there are few options for Canadians.

“We gotta stop thinking about renters as people who have a choice. We live in a country where the rents are high and the vacancy rates are low. People don’t have choices these days.”

Vacancy rates for apartments in Vancouver are at 0.5 per cent – a city where most people rent.

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