No Rentals to be Found

The rental vacancy rate in B.C. has hovered at an average of 1.3 per cent over the past three years, according to stats from the Canadian Mortgage and Housing Corporation.

In Victoria, the rate sat at only 0.5 per cent at the end of 2016.

In the Lower Mainland, the City of Vancouver’s rate is 0.8 per cent, while Surrey sits at 0.4 per cent. The rate is 0.5 in Abbotsford and Mission, and White Rock has the fewest available rentals in the region, at 0.1 per cent.
Kelowna is sitting at 0.6 per cent.

If you have kids going to Royal Roads, consider helping them buy a Triple Crown condo instead of living in barely suitable accommodations in the rental market. A condo is a valuable family asset that will appreciate, and a good way to set your kids on a path towards building their own financial future rather than a landlord's.

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Family Life in a Langford Condo

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BC Government Legislating Measures Designed to Control Home Prices and Increase Rental Vacancy

Recent legislation introduced by the BC Government will require builders to collect and report their buyer's information on the purchase and sale of condos before they are built. The NDP are putting this practice into place because they are concerned speculators are making purchases, riding out the equity increases while the property is being built, then selling them at a profit without ever living in them or reporting any of the capital gains. “This is a key step to stopping people from using presale condos as a quick, lucrative investment,'' says Carol James. ``It's also to stop them from driving prices up for British Columbians trying to get into the housing market.'' This legislation would force the reporting of the condo flips and allow the government to collect the tax. Whether or not one agrees with their legislation, if you read between the lines, the government is taking action because it recognizes the value in pre-sale condos as a wa...

Residence 1 Now Sold Out!

Thank You to everyone who has invested in the Triple Crown Community and purchased a condominium. All 46 units in Residence 1 are now sold. Those of you who were not ready to buy, or who are waiting for the next phase of condominiums, stay tuned. We will be announcing details soon. Now that you’ve put a deposit down for your new condominium, make sure you make yourself aware of some expenses you will need to set aside some money to pay before the day that you close if you’re living in or renting your unit. Closing costs GST is included with the rebate going to the seller. If the buyer is not living in the unit and not eligible for the rebate they must pay the rebate portion on top of the Selling price. Property Transfer Tax (PTT) is similar in that it is included if you are living in the unit. Those not living in the unit they must pay the PTT on top of the Selling price net of the GST. You will need insurance for the unit whether living in it or renting it out...

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