Fixed Term Tenancy | Ostensibly, a residential lease wherein landlord and tenant agree to terminate the tenancy after a fixed term (usually one year). In Vancouver, however, it is increasingly thought of as a device that enables landlords to annually raise rents beyond the 2.9% allowed by the Residential Tenancy Act. Typically, pressured renters only assent to these types of tenancies in order to secure shelter in the very competitive rental market. It is a cruel trick that all landlords can currently play on local renters, and thus a loophole that badly needs to be closed.
Usage | “It was either sign the Fixed Term Tenancy or keep looking, but there’s just nothing out there…”
There are 2 comments
Next Lexicon post
Flamer
Popular
Heritage Restaurant & Bar to Bring a Fresh Hit of ‘Elevated’ Chinese Cuisine to Main Street
The Best Happy Hour Situations in Vancouver, Our Picks
On Not Knowing Much, Caring a Lot and Pooping, with Andrew Hurt
2024 Michelin Recognized Restaurants in Vancouver, Mapped
Ten Places to Steam, Soak and Sauna In and Around Vancouver, Mapped
As a boomer, I apologize to the millennials for leaving you an empty cupboard and cardboard box.
Myself personally, I will be working until I hit “freedom ninety five” but that fault is mine.
When the bus of opportunity came rambling down the road years ago, I think I was in a pub enjoying
cheap beer and inexpensive wings.
Today, that bus is no where to be seen.
So here we are, living in a city that demands Paris, London, NYC rents.
Let’s be honest: at the end of the day, compared to these places, we’re a one horse town.
I know, I know:
“If you don’t like it Anthony, then leave”
All the best
You do not have to live downtown, there are plenty of affordable units in other areas just do a quick search because I can find a lot.