The BCHOA would like to provide the following information concerning the N1 you received Oct. 1st, 2021
This N1 has a percentage of 2.53% increase of your rent beginning January 2022. Incorporated into that percentage is as follows:
1.2% which represents the Guideline Increase (GI) that is set by the provincial government every year. The landlord can automatically add this percentage to your existing monthly rent starting in January 2022.
0.88% for the Above Guideline Increase dated Feb. 19, 2021, for work that was done in 2019 which has not gone before the Landlord and Tenant Board for a hearing,
0.45% for the Above Guideline increase dated Sept. 22, 2021 for work that was done in 2021, which has not gone before the Landlord and Tenant Board for a hearing.
The landlord can only raise your rent by the regular Guideline Increase of 1.2% on January 1, 2022. The landlord must notify residents that they plan to raise your rent 90 days prior to the intended increase. They do this with an N1 which you have received.
For the new residents who moved in to our community in 2021, please look on the N1 notice, if you received one, the first paragraph under important information about the law. It states (A landlord may increase the rent if at least 12 months have passed since the last rent increase or since a new tenant moved into the rental unit.) Be sure that you check your rental payment at the beginning of the new year.
We also have an Above Guideline Increase dated July 25, 2019, for work that was done in the year of 2018. Because of Covid, the Landlord and Tenant Board is back logged. They are the government officials who run the hearing pertaining to each Above Guideline Increase, and to listen to representatives from our community, which will be the BCHOA Board and our paralegal. We will be challenging many of the items.
For residents who moved in after an Above Guideline Increase was applied for and after the work was completed you will not be included in that increase.
However it is important to make you aware that when we finally do obtain a hearing date with the Landlord and Tenant Board, and any Above Guideline Increases are approved by them, that there will be a retroactive date where the payment will go back to. This could lead to a substantial lump sum which the landlord can request. It is advised that you are aware of this and perhaps you may want to start to save a little each month to be able to make that payment when the time comes. Having said that, we do not want you to panic. We will suggest to Management and the Landlord Tenant Board to make it easier for individuals who may need special consideration in managing those pending retroactive payments.
The BCHOA is providing this information to help residents understand the process and procedures of N1`s, Above Guideline Increases, and the regular General Increase.
Bonnie Backshall
BCHOA President