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…
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…
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…
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…
If you own or rent an apartment in Vancouver, BC, there’s a good chance you’re familiar with your buildings strata management company. While most people have become comfortable with paying their monthly strata fees, you may not be as inclined to pay a strata bylaw fine. If you’ve received a ticket for a strata infraction, it is important to know…