2023 Deposit Interest Rate

The interest rate for Security and Pet Damage Deposits for 2023 has been calculated at 1.95%. This calculation, as outlined in the Residential Tenancy Regulations, is 4.5% below the prime lending rate for BC (6.45%). Just as with any other year, to calculate how that effects the repayment of a deposit landlords should utilize the RTB’s Deposit Interest Calculator found at http://www.housing.gov.bc.ca/rtb/WebTools/InterestOnDepositCalculator.html

No Strata Rental-Restriction Bylaws Allowed

November 24 2022…

Today, the Government of B.C. announced changes to legislation that will remove rental restrictions in strata properties and introduced the new Housing Supply Act which will provide select municipalities with increased powers to address housing development. These changes will have implications for consumers, real estate licensees, and real estate developers in our province.

For further information please visit: https://alpha.gov.bc.ca/gov/content/housing-tenancy/strata-housing/legislation-and-changes/changes-to-legislation#five