As of December 11, 2017 British Columbia has announce changes to the current Tenancy Act. I have attached the changes to the act at the bottom of this blog, but here are some of the highlights to keep you informed!
Vacate clauses will no longer be allowed in fixed term tenanct agreements.
The tenancy must automatically continue as a month-to-month tenancy under the original agreement. That means, If you have a year long contract, it's no longer assumed that the tenant has to move out at the end of the agreement. *Some exceptions apply
Rental Increase every 12 months
Landlords are only allowed to make one rent increase every 12 months. The rent increase is limited to the annual allowable amount ( 4% for 2018. )
What do you think about the new tenancy acts? Are they effecting your rental properties in the Okanagan Valley? Feel free to send me a message with any additional questions or comments!
See the full changes here: