We've recently had many questions regarding making an application to retain a security deposit through dispute resolution. As most of you know if you have a debt that is equal to or higher than the amount of the security deposit, the landlord is to apply to retain the deposit and hold on to it until the dispute resolution officer tells them to keep it to apply towards the debt, or to release it back to the tenant. But what if the debt is less than the security deposit?
Section 38(4) of the Residential Tenancy Act states, in part, "A landlord may retain an amount from a security or pet damage deposit if . . . (a DRO) orders that the landlord may retain the amount." Note the use of the word, "amount."
It is our interpretation that failing to return the portion of the security deposit that you do not have a claim against would entitle your tenant to double that amount, because only part of the deposit would have been dealt with within the fifteen days allowed.
--AdviserToTheAdvisers
Tuesday, December 15, 2009
Wednesday, December 2, 2009
Behind on rent increases?
Q. My great renter has been on a disability pension for the last six years so I haven’t increased the rent. I recently learned that he now has a good job with the government, so would like to increase the rent. I’ve done some research and learned that BC’s rent controls limited increases to 3.7%, 3.7%, 4.0%, 4.0% and 3.8% in the last five years respectively. That’s a cumulative increase of 20.7% which is just the right amount I need to get the rent back to market rate. Do I have to use a special form to increase by this amount?
A. There is no special form because you can’t do this! The simple answer regarding rent increases is, “use it or lose it.” You are permitted to increase rents by the rent control limit once every twelve months. If – for whatever reason – you choose not to raise the rent in any given year, you cannot carry the foregone increase into a future year. Even though you haven’t raised the rent for six years, you can only raise it by 3.2 % in 2010 .
--LandlordMentor
A. There is no special form because you can’t do this! The simple answer regarding rent increases is, “use it or lose it.” You are permitted to increase rents by the rent control limit once every twelve months. If – for whatever reason – you choose not to raise the rent in any given year, you cannot carry the foregone increase into a future year. Even though you haven’t raised the rent for six years, you can only raise it by 3.2 % in 2010 .
--LandlordMentor
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