Two B.C. landlords whose costs have skyrocketed – due to their variable-rate mortgage – have been allowed to impose huge rent hikes on their tenants to offset their financial losses.
In a recent ruling, an arbitrator with the province’s Residential Tenancy Branch approved increases totalling 23.5 per cent over two years for each of the landlords’ four rental units.
That’s on top of the 3.5 per cent annual increase previously approved by the B.C. government for 2024.
“The landlords experienced dramatic interest rate increases which have made managing the property unsustainable,” reads the ruling, which was published in May.
Good rent control has rules about jacking up the rent in a property you acquired so selling it shouldn’t affect the tenants. Like the other people have said it would simply be that the landlord would have to sell for a price that makes sense.
Rich people can all find their way off bridges for all I care. This shit is vile, has no place in a functioning society, and is completely voluntary.