Two B.C. landlords whose costs have skyrocketed – due to their variable-rate mortgage – have been allowed to impose huge rent hikes on their tenants to offset their financial losses.
In a recent ruling, an arbitrator with the province’s Residential Tenancy Branch approved increases totalling 23.5 per cent over two years for each of the landlords’ four rental units.
That’s on top of the 3.5 per cent annual increase previously approved by the B.C. government for 2024.
“The landlords experienced dramatic interest rate increases which have made managing the property unsustainable,” reads the ruling, which was published in May.
Oh good! Does this mean the government’s also going to protect my stock portfolio and guarantee those investments always succeed, too? Because if so, I should start having a stock portfolio!
Right???
What the fuck?
If you invest in something you gotta assume the risk.
Past growth performance gave me good reason to expect that I would make money, too! But now I’m not! Government, help meeeeee!