CondoAdvisory Blog

There has been an interesting change to the Strata Property Act in British Columbia. For any new condo development that filed its Rental Disclosure Statement after December 31st, 2009, and in which the disclosure statement reserves the right to rent units for a period of time (which most do), the strata will not be able to enforce a rental restriction. So now the only way a rental restriction will be possible is if the developer files a Rental Disclosure Statement which prohibits rentals. I don’t think this is likely as most developers want to have the option to be able to rent units if they cannot sell them, but time will tell. This will certainly give investors more certainty when purchasing condos for rental purposes.