Check out the latest Residential Tenancy Branch news items.
January 3, 2017
The 2017 deposit interest rate is 0.0%.
- Learn learn more about returning deposits
- Calculate interest on security deposits using the deposit interest calculator
The interest rate for deposits is set according to the Residential Tenancy regulation part 1, section 4.
Interest payable on security deposits and pet damage deposits
4 The rate of interest under section 38 (1) (c) of the Act [return of deposits] that is payable to a tenant on a security deposit or pet damage deposit is 4.5% below the prime lending rate of the principal banker to the Province on the first day of each calendar year, compounded annually.
- Learn more about deposit interest
- Learn more about returning deposits
- Section 1 (External Link) is amended to provide a definition of transitional housing that clarifies what kind of housing is considered “transitional” and therefore excluded from the Residential Tenancy Act’s jurisdiction.
- Section 2 (External Link) is amended to allow existing rent-geared-to-income housing programs to continue after their operating agreements expire, and to allow new rent-geared-to-income housing to be operated under agreements with municipalities or districts.
- Section 9 of the Schedule (External Link) is amended to support housing providers who serve at-risk populations by providing landlords the authority to make reasonable restrictions on guests’ use of common areas of rental property. This change also addresses concerns raised by tenants.
The revised policy clarifies how the Residential Tenancy Act applies to sublets. Roommates who have an agreement with a tenant, but not with the landlord, do not have recourse through the Residential Tenancy Branch as there is no contractual relationship between the roommate and the landlord.
- Learn more about tenancy agreements
The content on this website is periodically reviewed and updated by the Province of British Columbia as per the date noted on each page: January 3, 2017.