Prince George, B.C The Provincial Government has set the residential rental rate increase for 2015.Unless a landlord has a  written agreement with the tenant, or has received  an order from the Residential Tenancy Branch,  residential rent cannot be increased by more  than 2.5% next year.

Landlords can only boost rent once a year,  and the new  limit  has been determined by  a formula that allows an increase based on 2% plus inflation.

The latest report  from Canada Mortgage and Housing indicated the vacancy rate in Prince George has slipped,  sitting at  3% in October compared to the 3.8% rate  noted in the same month a year ago.  The  average rent for a two bedroom  apartment has  increased by 2.9%  over the same  period.