A Case for Fair
Rent Adjustment
Prepared by Ali Rajool for Ruby Qi, property owner of 9911 Deagle Road, Richmond, BC.
Ali Rajool
Tenant since 2025
Ruby Qi
Property Owner
This proposal presents market data and tenancy evidence supporting a rent adjustment upon lease renewal.
Executive Summary
The Richmond Rental Market Has Changed
Overall Rent Decline
Richmond, YoY — Zumper
Metro Vancouver Decline
YoY — CTV News, March 2026
BC Province-Wide
Leading all provinces — BC Gov
According to the BC Government's March 2026 rental report, average rents for all unit types continued to fall across the most populous provinces, with British Columbia leading the country. Purpose-built apartment and condo asking rents in B.C. are now down 11.8% from their peak in September 2023. In Richmond specifically, rents have declined between 14% and 17.2% year-over-year depending on the unit type.
Market Analysis
Richmond Rent Trends — Past 12 Months
The chart below shows the consistent downward trajectory of asking rents in Richmond, BC from April 2025 to March 2026. Both the large-home estimates and the overall median have experienced significant declines.
Key Market Facts — Large Homes in Richmond
$3,900–$5,500
Current Asking Range
For 4-5 bedroom detached houses in Richmond, BC as of March 2026
-11.8%
From Peak (Sep 2023)
Purpose-built apartment and condo asking rents in B.C. have dropped from their all-time high
-10%
Metro Vancouver YoY
Metro Vancouver rents down 10% since March 2025, according to CTV News
Sources: DoorInsight, Zumper, BC Government, CTV News — March 2026
Comparable Listings
What Similar Homes Are Renting For
Current listings for comparable 4-5 bedroom detached houses in Richmond, BC show asking rents significantly below the current lease rate of $6,000/month.
Average of Comparables
$4,658/mo
Current Lease Rate
$6,000/mo
Above Market By
~22%
The Bottom Line
A Fair Adjustment Reflects the Market
Based on current market data, the rent for 9911 Deagle Road is approximately 22% above the average asking price for comparable properties in Richmond. A reduction to align with market conditions would be both fair and competitive.
For the Landlord
- Avoid vacancy costs — finding a new tenant in a declining market takes time and money
- Retain a proven, responsible tenant who actively maintains the property
- Stable income from a family committed to long-term tenancy
Industry Advice
"In a softening market with rents down 17.2% year-over-year, property managers may want to prioritise retention over rent increases. Holding steady on renewals can minimise vacancy and turnover costs."
— DoorInsight, Richmond Rental Market Summary, March 2026
Tenant Profile
A Tenant Who Cares
Over the past 12 months, I have gone beyond basic occupancy to actively maintain, protect, and improve the property at 9911 Deagle Road — often at my own time and expense. As a family of four, we treat this house as our home.
Repairs & Hands-On Maintenance
Personally handled entry gate repair, hot tub troubleshooting (checking heating, circulation, pump behavior, filter compatibility), CCTV system setup, central vacuum maintenance, and barbecue awning — often paying costs out of pocket.
Property & Garden Stewardship
Identified and followed up on front lawn damage, crow-related grass destruction, white grub infestations, weed issues, and seasonal care needs. Coordinated early gardener visits to prevent further property decline.
Detailed Appliance Reporting
When the washing machine failed, promptly documented the issue with photos, videos, and detailed observations — including abnormal sounds, smoke smell, plastic particles, and drum rotation problems — to speed up resolution.
Proactive Improvements
Researched smart thermostat upgrades (replacing older Honeywell units), investigated central system integration with room sensors, and proposed practical, budget-conscious improvements for the property's long-term benefit.
Key Fact
A responsible tenant who notices issues early, handles repairs, and cares about upkeep is a real asset to any property owner. This kind of care directly reduces maintenance costs and protects property value over time.
Communication & Follow-Through
Consistently reported issues promptly with clear descriptions, supporting photos and videos, respectful follow-ups, and a focus on practical solutions rather than unnecessary conflict. This organized approach helps resolve issues efficiently and protects the property.
"We have treated this house as our own home — with care, attention, and genuine investment in its condition and future."
— Ali Rajool, Tenant since 2025
Cost of Vacancy
What Happens If This Lease Doesn't Renew?
In a declining rental market, vacancy carries real financial risk. Here's a realistic estimate of the costs associated with finding a new tenant.
Vacancy Period
1–3 months
Average time to find a qualified tenant in a softening market
Lost Rent
$5,000–$15,000
Based on 1–3 months at current or reduced market rate
Turnover Costs
$2,000–$5,000
Cleaning, repairs, listing fees, showings, and agent commissions
New Tenant Risk
Unknown
No track record of property care, communication, or reliability
Total estimated cost of vacancy: $7,000 – $20,000+. Retaining a proven, responsible tenant — even at a reduced rent — is significantly more cost-effective than risking vacancy in today's market. A modest rent adjustment protects your income stream while avoiding these costs entirely.
Proposal
Lease Renewal Request
Dear Ruby, I am writing to formally request the renewal of my lease at 9911 Deagle Road, Richmond, BC, with a rent adjustment that reflects current market conditions.
As demonstrated in this proposal, the Richmond rental market has experienced a significant decline of 14–17% over the past year. Comparable 5-bedroom properties in Richmond are currently listed between $3,900 and $5,300 per month, with an average of approximately $4,658/month — well below the current lease rate of $6,000.
In addition to the market data, I have been a responsible and highly engaged tenant who has actively maintained the property, handled repairs at personal expense, and treated the home with genuine care. As a stable family of four, we are committed to continuing our tenancy.
I respectfully request a rent reduction that aligns with current market rates and reflects the value of retaining a proven, responsible tenant. I believe this adjustment serves both our interests — ensuring continued occupancy and fair pricing in today's market.
Prepared by
Ali Rajool
Tenant, 9911 Deagle Rd, Richmond, BC
Date
March 30, 2026