NEW ALLOWABLE RENTAL INCREASES FOR RENOVATIONS ETC.

NEW ALLOWABLE RENTAL INCREASES FOR RENOVATIONS ETC.

Investor Asked on July 27, 2021 in Real Estate.
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Sweeping new laws for you as landlords and tenants to study. The legislation intends to help landlords to recover extraordinary and necessary expenditures through rent increases (capped at 3% per year over 10 years) and dispute resolutions. A quick glance raises SOME question in my mind…a more detailed study of the doc is needed.
For instance, on “Ineligible expenditures” it states: “ A) Repairs needed as a result of inadequate repair or maintenance by the landlord. B) Expenditures where the landlord has recouped the cost from another source.” I mean who decides?
You can find it here: https://news.gov.bc.ca/releases/2021AG0101-001278

Guru Answered on July 27, 2021.
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