Vancouver Real Estate Market Rental( February)/Sales report.

06 Mar

Intense competition amongst home buyers is putting upward pressure on home prices across Metro Vancouver’s housing market. The Real Estate Board of Greater Vancouver (REBGV) reports that residentialhomesales in the region totalled3,727inFebruary 2021, a73.3per centincreasefrom the2,150sales recorded inFebruary 2020, anda56per centincreasefrom the2,389homes sold inJanuary 2021. Last month’s sales were42.8percent above the 10-yearFebruarysales average. “Metro Vancouver’s housing market is experiencing seller’s…

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Formative Legislative Changes To Prevent Illegal Renovictions & Extend the Rent Increase Freeze

05 Mar

The landlord-tenant relationship can often be abused if proper legislative rules are not passed and practiced and this has been a common theme and motivator behind tenancy disputes that make news headlines. In one especially offsetting scenario, loopholes in the laws give less scrupulous landlords a certain edge of exercising their power through illegal renoviction and geographic rent hikes. Tenants…

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Optimizing Communication Between Tenants & Landlords – Permitting Emailed Document

03 Mar

An email has become the common and quintessential method by which parties communicate and share information. The current amendment to regulations comes at the behest of a recommendation from the Rental Housing Task Force, who had sought input from landlords and tenants, and fielded suggestions to recognize email as an acceptable form for notification Coming into effect on March 1,…

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COVID 19: Commercial Rent Assistance Program Extended Through The End of July

02 Jul

Government announces extension of commercial property rent relief program in BC. WHAT YOU NEED TO KNOW; Property owners and small business tenants will soon be able to access funding for the month of July. Only those tenants approved in the April, May and June application are eligible for the July extension. If a business had an average revenue decline of…

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BC Government extends rental supplement and moratorium of rent increases, but other eviction rules will be changing soon!

30 Jun

People who have already been approved for the TRS don’t need to reapply, unless they’ll be living at a different rental property before August 31st. They will receive an email to confirm if the residential address will be the same through July and August. New applications will be accepted until the end of August and will be effective from the…

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Condo Crisis? Analyst warns of massive Metro Vancouver presale drop-off

30 Jun

Real estate market analyst is calling attention to the plummeting condo and townhouse presales For a while, BC’s condo market future was burning bright. Now, it would seem that the fire has been extinguished. An ABC real estate market analyst is calling attention to the plummeting condo and townhouse presales. The feeling that something was happening was palpable but they…

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Greater Vancouver home sales down 44% compared to last May, but prices remain steady

09 Jun

CLICK HERE TO DOWNLOAD THE LATEST VANCOUVER MARKET REPORT HIGHLIGHTS OF MAY 2020 Greater Vancouver home sales down 44% compared to last May, but prices remain steady VANCOUVER – The Real Estate Board of Greater Vancouver reported last Tuesday, May home sales were down nearly to 44% in Greater Vancouver compared to May of last year and more than 50%…

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08 May

Buying a home during the COVID-19 pandemic Trying to buy a house or business location during a pandemic is anything but easy. While people are fending off the worst of the epidemic with social distancing and only going out for essentials, it’s easy to think that buying a home right now is impossible. Lucky for potential homeowners, real estate agents…

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06 Apr

COVID-19 Update: BC Residents Can Receive a Three-Month Credit on Hydro Bill With the growing crisis around COVID-19, the government is scrambling to find ways to ease the strain on businesses and people across the province. In the newest statement from Premier John Horgan and Minister Bruce Ralston, it was announced that B.C. Hydro and the Government of British Columbia…

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03 Apr

Updates for Owners and Tenants:Rent Freezes, Evictions and End of Tenancy With the State of Emergency declared by the provincial government, and businesses all over the country being forced to close doors amid the coronavirus outbreak, renters and tenants alike have questions on what this means for them. The provincial government has released a few updates to help ease the…

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What Financial Support is Available for Tenants and Owners during COVID-19?

02 Apr

Financial Support for Tenants and Owners during COVID-19 With the whole province under a State of Emergency, and the government mandating the closure of non-essential businesses, finances are tight for countless Canadians. Thus, the provincial and the federal government have begun to find ways to support those who need it the most so we can all get through the global…

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COVID-19 Update: information for landlords

30 Mar

What Landlords Need to Know During COVID-19 pandemic The global market has frozen. Trade has halted as countries close their borders and are taking drastic measures to manage and combat the disease amongst their population. The economic effect has been immense with global supply chains ceased, businesses shuttered as customers are homebound, and repercussive squeezes in the labour market as…

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19 Mar

New-housing construction is expected to decline for the next two yearsaccording to the report prepared by the research firm Altus Group. The decreaseis influenced by the higher interest rates, new tax measures and a slowing economy. According to Vancouver Sun the report estimates that housing starts in B.C. will fall to 37,475 units in 2019 and further to 36,925 in…

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11 Mar

According to Vancouver Sun some of the multi-million dollar homes in Vancouver have been rented for a relatively cheap price asa result of the empty home tax. Read a full article how Speculation,Vacancy, and Empty Home Tax influence a drop in a rental pricehere. See also:Exempt From the Speculation Tax Declaration Resource: Vancouver Sun Rate This Post

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Exempt From The Speculation Tax Declaration

03 Feb

The purpose-built rental buildings are excluded from the definition of residential property under theSpeculation and VacancyTax Act, andexemptfrom the tax. But the owners still need to file a one-time declaration for the exemption. The deadline to file for the exemption is March 31, 2019. Learn more about the update at LandlordBC website or visit speculation and vacancy tax website. Rate…

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25 Jun

Property tax is due this July 2018. The important dates for your property taxes depend on where your property is located: Tuesday, July 3, 2018 Richmond Whistler Surrey Coquitlam New Westminster Tsawwassen Port Coquitlam Port Moody Langley Wednesday, July 4, 2018 Vancouver Burnaby If you do not pay your taxes and any late-payment penalties in the current tax year, your…

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Vancouver rents stop growing…

12 Jun

Vancouver rents stop growing, listings spike amid new taxes and renter protections: data The cost to rent a unit across Vancouver hasn’t exactly dropped, but ithasn’t grown much over the past three months, either. The latest report shows that rent prices have “flatlined since March” for most types of rental units. Click here to read more. Rate This Post

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New Tax Law For Canadians With BC Vacation Homes

10 Mar

Early this year, British Columbia rolled out a new property tax. But this property tax isn’t singling out the local BC population, but actually out-of-province owners instead. Indeed, the government plans to tax vacation homes where the government is expected to send big bills to those properties. The reason this has come about was due to this years budget. Specifically…

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