Regarding Steven Chua’s column, “Homes are for living in not speculating,” published
Feb. 3: I hear many people complain about high rents in 樱桃视频and BC in general. It is important for the rental consumer to understand the forces that are negatively impacting the owners of rental units and thus their tenants.
According to the , the maximum allowable rent increase for 2022 is 1.5%. This is claimed to be based on last year’s inflation rate.
However, as bizarre as it may be, the BC governments own reports state that inflation (or the consumer price index as they refer to it) was almost double what the allowable rent increase was set at.
In a report released January 19, 2022, titled Consumer price index, the BC government announced, “.”
The manner in which inflation specifically impacts landlords is very different than what is recorded in the CPI. For example,
We will wait and see what the increase in property tax is for this year. As assessed values of properties go up so do the taxes.
The reason rents are what they are is a result of a number of factors. It takes effort and time to think through and understand why rental rates are where they are.
Or you can stick with the poorly thought-through idea that it is greedy speculators who are driving up rents.
The question remains, though: If private enterprise were not providing rental housing, who would? Would you prefer the BC government build and manage rental units? Or how about asking the District of 樱桃视频to provide adequate rental housing for all those in need? Good luck with that.
All levels of government have abrogated responsibility for providing rental housing and instead have downloaded almost all responsibility onto private enterprise.
Martin Fichtl
Squamish
