Acquiring commercial space is often stressful and complex. However, it may be a smart business investment and integral to your business plan. Therefore, it is critical that you do your due diligence prior to sealing the deal. This involves planning, researching, and ensuring that your choice of space and acquisition method meets your needs as well as maximizes your investment.…
You may be familiar with the Empty Homes Tax and the Speculation and Vacancy Tax if you are a homeowner in or around the Vancouver area. The key difference between both taxes is that the first is only applicable to Vancouver whereas the latter is province-wide. As of December 31, 2019, significant updates were made to the Speculation and Vacancy…
The coronavirus outbreak has affected everyday life with the media playing a large role in instilling panic through sensationalized headlines. The general public’s fear of the unknown coupled with misinformation has already led to a shortage in personal supplies such as hand sanitizer, face masks, and toilet paper. Thus, it is logical to assume that the real estate market, too,…
Many rules and guidelines that have emerged throughout the years that concern renting have almost become common knowledge. However, what many fail to realize is that many of these “renting rules” or practices are neither enforceable nor legal. These common myths regarding renting in British Columbia will be debunked in hopes of alleviating some challenges that tenants face today. For…
Being a tenant is often stressful when it comes to the nitty gritty rules and regulations. In many cases, your rights as a tenant may not be properly addressed or is disregarded completely. It is important that you are aware of any changes that may arise that could affect your tenancy agreement. These include rent increases, repairs and maintenance, and…
What is the British Columbia Civil Resolution Tribunal? The British Columbia Civil Resolution Tribunal (CRT) is Canada’s first online tribunal. This means that it can resolve: Motor vehicle injury disputes up to $50,000 Small claims disputes up to $5,000 Strata property disputes of any amount Societies and cooperative association disputes of any amount by late summer of 2019 The CRT…
According to the B.C. Residential Tenancy Guide, all disagreements present between a landlord and tenant should be acknowledged during its early stages. It is important that both parties attempt to resolve them before they develop into larger issues. In turn, whether you are the landlord or the tenant, it is crucial that you know your rights and responsibilities under the…
The passing of Bill C-45, the Cannabis Act, has permitted: Public possession of no more than 30 grams of dried cannabis or its equivalent for recreational use. Consumption and use of cannabis in authorized locations. Cultivation of up to 4 cannabis plants per residence. Provinces and territories are allowed to establish further rules and regulations pertaining to retail and distribution,…
Do you know what the difference is between the B.C. Speculation Tax and the City of Vancouver Empty Homes Tax? With the recent introduction of the B.C. Speculation Tax soon after the City of Vancouver Empty Homes Tax, many are left wondering: what’s the difference? It’s not uncommon to be misinformed or left confused about the nature of each type…
What is the B.C. Speculation Tax? In 2018, the NDP government introduced the B.C. Speculation Tax in an effort to dampen the hot housing market. The goal of this annual tax is to: Reduce the amount of empty homes so that more living spaces are available to B.C. residents. Reprimand foreign buyers and domestic speculators who do not pay taxes…