B.C's Rental Housing Task Force is recommending the Province change the annual allowable rent increase formula to give renters a break.
Spencer Chandra Herbert, Rental Housing Task Force chair, says feedback from renters has been clear that rent increases are becoming increasingly unaffordable, far outstripping cost-of-living increases.
The task force recommends changing the maximum rent increase formula which currently allows inflation plus 2%, which would be 4.5% next year. Herbert says the recommendation is to allow for inflation only -- or 2.5% for 2019.
They also recommend giving landlords the ability to apply for an additional increase if they can show the formula would not cover maintenance and other costs incurred.
And it's recommended the Ministry of Municipal Affairs and Housing do further work with landlord and tenant groups to determine the criteria for reviewing landlord applications for increases above the inflation rate.
A decision will be made on these early recommendations from the Rental Housing Task Force before Oct. 1, 2018.
Reacting to the Rental Task Force recommendations BC Green leader Andrew Weaver gives the thumbs up -- urging the Provincial Government to accept the proposals.
Weaver says the rental task force represents the best of minority government, with members from the NDP and Greens coming together to develop solutions.