It’s not fair. Officially, rent in B.C. can only be increased 2.5 per cent this year, but a loophole in the regulations means some renters in Squamish are facing rent increases 10 times higher, 25 per cent – or even higher.
These are enormous increases, and they are completely unfair to tenants who naively signed fixed-term leases instead of going month to month. Some people who signed fixed-term leases are seeing big spikes in their rent when the landlords offer new agreements. In Squamish in recent months, tenants have had to cope with increases as high as $700 a month, while others won’t provide dollar figures but say the amount has gone up by 25 per cent or more.
The problem is not limited to Squamish; other markets with high demand such as Vancouver are also seeing these kinds of money grabs from landlords, and officials are unable, under current laws, to protect the families. The tenants face two choices: cope with the increases, or move out. Moving out may sound easy, but in a place like Squamish with near-zero vacancy, most tenants simply stay put, grateful for the roof over their heads, and try to scrimp on expenses or earn more income to deal with the rent hike. And they’re scared to speak out about it, for fear of upsetting landlords and not having a place to live at all, as our reporter discovered while writing the recent story about the issue. They need a home for their families.
It’s time for the provincial government to correct this and start being fair to both landlords and tenants in the province. The fixed-term lease loophole circumnavigates the intent of the B.C. Residential Tenancy Act, which aims to balance the rights of tenants and landlords. In truth, the act is not fair to landlords, either.
People on regular, month-to-month agreements with their landlords are seeing rent increases of 2.5 per cent this year. This is unfair to landlords, as it does not reflect the rising market values of homes in high-demand areas like Squamish, and it does not allow landlords to do the upgrades and maintenance necessary to keep the units in good shape for tenants. Landlords also deserve a fair return on their investments and to keep their properties in good repair.
It’s time for the provincial government to introduce changes that will protect both tenants and landlords. No one should have to cope with a $700 monthly increase and keep quiet for fear of putting their children on the street; the fixed-term lease loophole must be closed. But landlords should not be shackled by 2.5 per cent, either. Let’s see a revised tenancy act that is fair to everyone.
– Editor Christine Endicott
