Where is the $ 500 BC promised by the federal government? Tenant?

State government and rental supporters are federal government Promised to pay $ 500 for the struggle in BC. The lessee, despite the promise made almost three months ago and rising inflation. 

During the federal budget announcement in early April, Ffinance minister Christia Freeland suffers from housing costs. An estimated 1 million Canadians will receive a one-time payment of $ 500.

On June 16th, Freeland unveiled a list of $ 8.9 billion measures to help curb the effects of inflation. COVID policy and Russia's invasion of Ukraine.

These measures include increasing the interests of Canadian workers, reducing childcare costs, increasing old-age coverage by 10%, and indexing government interests against inflation.

Freeland also reiterated its $ 500 payment as part of her anti-inflation program. Throughout Canada, living expenses have risen by almost 8% since May 2021.

"The government will provide lessees with a lump sum of $ 500 to nearly one million low-income earners in 2022. Canadians are suffering from living expenses. "She said.

The federal government has not disclosed how, when and to whom the $ 500 promised payment to eligible renters will be issued

last Wednesday, The Canadian Treasury said, "Payments of $ 500 to those facing the challenge of affordable housing will be announced at a later date."

The funds "experience housing demand." It will be added to the $ 4 billion eight-year Canadian housing benefit (starting in 2020) aimed at directly helping people.

The state Department of Housing told Postmedia News, "We are aware of the affordable payments for federal housing and look forward to learning more about it."

Tenant Resources&Advisory Center Attorney Robert Patterson and Victoria-based Executive Director of the Together Against Poverty Society Doug King heard nothing about $ 500. There is no such thing. payment.

Price to buy a house at B.C. The federal government raised interest rates in an attempt to control inflation, resulting in a deadlock and rising rent costs.

According to the latest report published by zumper.com, the cost of renting a two-bedroom house in Vancouver has increased by 20% over the past year. The average price of a one-bedroom rental in Vancouver rose 14.9% over the same period to $ 2,240.

This is B.C. The government will consider whether to re-invalidate the inflation-based rent increase policy. It weighs the concerns of both landlords and lessees affected by rising costs.

"Canada has seen the highest levels of inflation in decades, especially when it comes to housing costs," Housing Minister David Eby told Postmedia News. "We recognize that many renters are barely hanging and the cost of the landlord is rising."

2018, B.C. The NDP has changed the law on raising rents, limiting the ability of landowners to raise the rents of existing tenants above the inflation rate. Prior to that, landlords were able to increase their rents by the inflation rate plus 2%.

In 2020 and 2021, the state government overturned that policy as part of the COVID-19 emergency authority by making rent increases illegal.

In 2022, the government adhered to the policy and allowed a 1.5% increase in rent based on the annual inflation rate as of July 2021.

However, inflation has skyrocketed since then, growing at 8.1% BC as of last month. The rental portion of the bundle of goods and services used to determine the inflation rate showed a 5.5% increase between May 2021 and May 2022.

According to a statement from the Ministry of Housing, the annual permissible rent increase is based on the average 12-month rate of change in the Consumer Price Index from June to July.

"B.C. The government will make a decision by the end of July," he said. Once announced, landlords will be able to raise their rent in January. It's January 1, 2023, but you need to notify your tenant three months in advance.

dcarrigg@postmedia.com

More news, less ads:Our subscribers. For just $ 3.50 a week, you have unlimited ad light access to Vancouver Sun, Provins, National Post and 13 other Canadian news sites. Subscribe today to support us:Vancouver Sun | State