Real Estate

B.C. announces legislation to close fixed-term rental loophole

  • Last Updated:
  • Oct 27th, 2017 10:40 am
3 replies
Penalty Box
Aug 11, 2005
4175 posts
This is good news. Too many abusive landlords out there
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Deal Addict
Jan 20, 2016
2028 posts
Houston, TX
Luckyinfil wrote: This is good news. Too many abusive landlords out there
Too many people thinking they have rights to live for free
At the end of each term, tenants must either move out or sign a new lease at a reassessed market rental rate
- just FYI, quite every major city in US have THIS rule for renters - you sign fixed term lease with fixed price for it (6m could cost 2x from 12m) and TWO month before it ends, you HAVE to either sign new lease (and price ARE adjusted for current market price) OR move out.
That's how NORMAL rental market works.
Both tenants and landlord have to pay hefty penalty in case of break before the term...
Make the face great again
Deal Addict
Dec 23, 2010
1806 posts
Every intelligent landlord will simply charge any potential rent increase they wanted to do upfront. Enjoy your skyrocketing rents throughout the city.