Real Estate

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

  • Last Updated:
  • Oct 27th, 2017 10:40 am
3 replies
Penalty Box
User avatar
Aug 11, 2005
3898 posts
1242 upvotes
This is good news. Too many abusive landlords out there
google NotDoug
Deal Addict
Jan 20, 2016
1977 posts
947 upvotes
Houston, TX
Luckyinfil wrote:
Oct 26th, 2017 8:46 pm
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 Trudeau drama teacher again!
Deal Addict
Dec 23, 2010
1356 posts
708 upvotes
Moon
Every intelligent landlord will simply charge any potential rent increase they wanted to do upfront. Enjoy your skyrocketing rents throughout the city.

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