Thinking of purchasing a strata lot to rent out on the short-term market? If so, you may wish to familiarize yourself with the applicable rental restrictions.
The popularity of short-term rentals such as Airbnb continues to soar, making them an increasingly attractive revenue stream for potential property investors.
On October 26, 2017, Bill 16, the Tenancy Statutes Amendment Act, 2017 (“Bill-16”), passed first reading, which will be of particular interest to residential landlords and developers. Among other things, Bill-16 enacts amendments to the Residential Tenancy Act (British Columbia) (the “Act”) that reduce or prevent landlords from including “vacate ...
NOTE: The below article is a shortened version summarizing material information regarding the Empty Homes Tax. Click here for the full version including additional commentary and examples.
1. Vancouver’s new Empty Homes Tax became effective January 1, 2017.
Targeting the approximately 10,000 year-round empty and 10,000 under-occupied homes in Vancouver, homes ...
One of the many issues commonly negotiated between landlords and tenants is the condition of the state of repair that the premises must be in at the expiry of the lease. Typically, a standard form lease will require that the tenant return the premises to the landlord in the same condition as that which it is required to maintain during the term of the lease, and to remove certain ...
On March 15, 2017, the BC Government issued Order In Council 152/17 (the “OIC”), which creates a retroactive exemption from the 15 percent Foreign Entity Tax (the "Tax") for foreign nationals applying for permanent residency under BC’s Provincial Nominee Program, and provides refunds for certain purchasers who have previously paid or are required to pay the Tax ...
Recently, a number of retail enterprises have availed themselves of the protection of the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA), Canada’s insolvency statutes. The BIA and CCAA, as federal statutes, have various provisions that allow a debtor to deal with their leases in a manner which may be inconsistent with the ...
On February 16, 2017, Bill M-205 (Property Law and Land Title Amendment Act, 2017) passed first reading which, amongst other things, proposes to make amendments to the Property Law Act (British Columbia). Notably, Bill M-205 would restrict ownership of land within the Agricultural Land Reserve (the “ALR”) by foreign nationals or foreign corporations to a maximum of ...
Landlords who enter into commercial leases with tenants accept, and expect in return, some degree of liability as spelled out in leases and commercial tenancy legislation. After all, leases are intended to be two-way streets: the landlord provides the tenant with a leasehold interest in real property, and the tenant pays rent in return. Understandably, landlords are in no ...
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Our Real Estate Law Blog provides brief commentary on current legal trends and developments affecting your business. The topics addressed in Lawson Lundell’s Real Estate Law Blog are of interest to commercial real estate developers, real estate and strata agents, investors, landlords and tenants, as well as a variety of industry groups.
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