Obviously, there is a figure of people who do not see these figures as “affordable.” Not only were the previous guidelines for one-bedroom and studio apartment rents already high, but they have also increased.

An example is that the maximum amount for studios on the East Side is set at $1607, and $1768 on the West Side. For those who are looking at renting a one-bedroom rental, the East Side rent is set at $1869 and West Side at 2,056. 

The year before, the rent for a one-bedroom was set at $1,730 at the East Side, this marks an eight per cent increase. Likewise, rent for a one-bedroom on the West Side was $1,903, which is also an eight per cent jump. 

A two-bedroom on the East Side is $2,457, while a West Side two-bedroom is $2,703. A three-bedroom on the East Side is $3,235, and a West Side three-bedroom is $3,559.

The city increased the rents for East Side and West Side studios and one-bedrooms, but decreased the rents for both area’s two and three bedroom rentals.

Part of the Rental 100 policy, the city describes how, “Projects creating new rental supply, where 100% of the residential development is rental in tenure are eligible for a DCL waiver for the rental portion of the development.”

Nevertheless, these rental prices are considered unaffordable to the majority of renters, which has caused the policy to come under considerable scrutiny.

For more details please do not hesitate to contact with RentYVR agents [email protected] or call us at 778.888.8862 and make an appointment, or please register to our VIP Client list and we will inform you about most of the real estate that can effect your investments portfolio.Source: https://www.vancouverisawesome.com/2019/02/28/affordable-rents-vancouver/

Source: https://www.vancouverisawesome.com/2019/02/28/affordable-rents-vancouver/