1. Home
  2. News
  3. General
  4. Page 16
Search Title:

  1. BC Short-Term Rental Changes: New Rules Rolling Out On May 1, 2024

    Significant legislative changes to short-term rentals in BC are coming into effect on May 1, 2024.

    The Short-Term Rental Accommodations Act, which gained royal assent on October 26, 2023, was aimed at increasing the supply of long-term residential housing, empowering local authorities with better tools for short-term rental bylaws, and developing a new provincial registry for all short-term rental hosts. The overall goal was to return short-term rental units back to the long-term rental market. While some of the legislation took effect immediately, some changes are slated to come into effect in May. 

    By Joanna Gerber
    11-04-2024

  2. Metro Vancouver industrial real estate market starting to normalize

    Metro Vancouver’s industrial market is entering a period of equilibrium, as the frenzy that once defined the market dies down.

    This is according to a Vancouver Real Estate Forum expert panel, which last week described as “more normalized.”

    “There’s not this frothy demand where you’ve got … eight people fighting each other for space. Now you’re getting one or two offers. That’s more of a normal market,” said Tim Evans, senior director of leasing with real estate investment firm BentallGreenOak.
    By Claire Wilson
    11-04-2024

  3. Royal LePage expands footprint with Lower Mainland acquisitions

    The importance of technology to residential property sales – and in turn the investors participating in the market – is once again in the spotlight with Royal LePage’s latest brokerage acquisition in Metro Vancouver.

    Royal LePage Elite West, based in Port Coquitlam with offices in Maple Ridge and Abbotsford, announced April 2 that it had shed the Keller Williams banner, becoming the largest-ever Keller Williams conversion Royal LePage has seen as brokerages reassess their affiliation in the wake of turmoil in the U.S.

    “They’re happy to be joining a Canadian company,” Phil Soper, president and CEO of Royal LePage, explained toWestern Investorlast week as he returned from events in Vancouver marking the transfer, which adds 175 agents for an initial 10-year term under the Royal LePage banner.
    By Peter Mitham
    09-04-2024

  4. B.C. may need 700K more housing units by 2030, says economist

    The province will have to build somewhere in the range of 500,000 to 700,000 housing units by 2030 to restore 2003 and 2004 levels of affordability, according to Braden Batch, lead economist for B.C. at the Canada Mortgage and Housing Corp.

    Speaking at a panel discussion Wednesday at the Union of BC Municipalities housing summit in Vancouver, he said that this range already accounts for housing that the province is on track to build. Batch said it is also based on low, medium and high population projections, meaning that numbers may differ based on which projection becomes reality.
    By Claire Wilson
    01-04-2024

  5. 851 Broughton – 2 new Towers are proposed

    The Christ Church Cathedral precinct on the edge of downtown Victoria could be significantly transformed if Concert Properties gets rezoning approval for a two-tower housing project that would bring 370 new homes to what once was a YMCA-YWCA facility.

    The Vancouver developer has made an application to rezone 851 Broughton St. to allow for a mixed-use project that will include 26- and 11-storey towers housing 220 condominiums and 150 rental units, respectively.
    By Andrew A. Duffy
    22-03-2024

  6. NAR Settles Commissions Lawsuits and what it means for Realtors

    The real estate industry has officially changed. This is going to separate pros vs amateurs and those prepared vs those that are hobbyists.

    Listen up for my thoughts but I will have a whole lot more to come. 

    Video attacked on above URL
    By Jared James
    18-03-2024

  7. A strong spring start in the GTA: Can the market survive without rate-cut optimism?

    According to the latest press release from the Toronto Regional Real Estate Board (TRREB), there’s been a quaint uptick in home sales and listings on both an annual and monthly basis, with selling prices making a shy nod upwards compared to the year prior.

    This is ostensibly buoyed by population growth and what’s described as a “resilient” regional economy — phrases that seem to gloss over the ongoing saga of individuals grappling with the reality of higher borrowing costs, a souvenir from the Bank of Canada’s rate hikes. 
    By Daniel Foch
    08-03-2024

  8. Big data drives operating efficiencies as properties automate controls

    Arthur Erickson Place is echoing the trees through a low carbon footprint that recently saw it designated a Zero Carbon Building by the Canada Green Building Council, which also administers the long-standing LEED (Leadership in Energy and Environmental Design) program.

    A three-year decarbonization process that began in 2022 and completes in 2025 will reduce energy use by 40 per cent and cut carbon emissions by 97 per cent, or 600 tonnes annually.
    By Peter Mitham
    07-03-2024

  9. 'Panic and desperation': Leaseholders in Vancouver building rocked by sudden tripling of monthly fees

    “There are a lot of seniors in this building and it was advertised and deemed, as all leaseholds are, as an affordable form of housing and contracts were signed in good faith,” said resident Ken Lychak.

    He added that many seniors who live on low or fixed incomes are being rocked by the assessment and the short amount of time in which they had to come up with the money.

    About six weeks ago, the private owner of El Cid tower, a 193-unit, 27 storey tower on Comox Street that was built in 1968, issued to leaseholders a notice of a special assessment of $25,000 for each unit, due in monthly payments at the beginning of March.

    The residents, who have been paying operating fees of about $800 a month, had to submit 12 post-dated cheques for another $2,200 a month and were told there will be several more large assessments like this in the next three years.

    The situation has them joining other low- or fixed-income leaseholders at other buildings who are also facing hikes in fees and pressing to fill what they say is a gap in oversight.

     
    By Joanne Lee-Young
    06-03-2024

  10. Condo purchasers owned multiple units: lawsuit

    Civil suits filed by B.C. Housing allege 13 of the units at Vivid at the Yates on Johnson Street went to people who already owned property, or who rented out their units instead of living in them.

    One of the purchasers of a unit in a downtown building subsidized for first-time homebuyers already owned six single-family homes in the Victoria area worth more than $7 million, says a civil suit filed by B.C. Housing.

    It’s one of several lawsuits filed by B.C. Housing against 13 people who bought condos in Vivid at the Yates at 845 Johnson St.

     
    By Roxanne Egan-Elliott
    06-03-2024

Archives

Others