Fixed Term Rental Agreement VS. Month-to-Month

In British Columbia, there are two main types of Tenancy Agreements. We’ll take a look at some of the similarities and differences between them and explain why one agreement may suit your situation better than the other. Similarities Between Fixed Term and Month-to-Month Agreements Typically, rent is due on the 1st day of each month, unless otherwise agreed upon in writing. Security deposits. In B.C., security deposits cannot exceed one half month rent. The deposit is payable before the Tenancy begins. Likewise, Pet Damage Deposits, if applicable, cannot be more than half a month rent. Whether or not they are permitted,…

RTA Part 5 – Rent Increases

For our final installment of the 5 key sections of the Residential Tenancy Act, we’ll take a look rent increases. How often can rent be increased? How much can rent increases be increased by? How much notice does the Landlord have to provide the Tenant before they increase the rent? Rent increases A Landlord may only increase your rent once per year in an amount established by the Residential Tenancy Office each year. For 2016 the allowable increase is 2.9%. This means if your rent is $1000, it can only be increased to $1029 – not a huge amount. If you…

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