Vancouver's Real Estate Market

[PeanutButter]

Dang, I think you guys come in way too hot. Imagine you're going about your day thinking you're doing nothing wrong and then some guy gives your a sarcastic snarky attitude, how would you react?

Not saying you guys are wrong, it sounds like your neighbours are out to lunch, but I think the right play is to just talk to them like your buddy. Calm and explain your thoughts and see what they say.

The risk of altercation is too high these days, especially with your son there. Imagine if the guy beats the shit out of you or worse.

For what, some garbage? Ever since I saw that video of neighbours fighting and one guy came out and shot and killed the dad and mother.. That's some scary shit. All because of some snow blowing incident.

Sometimes people just need a little education and some respect and they'll ablige.

[bcrdukes]

Watch out, Mikoyan. That snow blower you got this past season is gonna get you in some trouble.

[BIC_BAWS]

Originally Posted by PeanutButter

Ever since I saw that video of neighbours fighting and one guy came out and shot and killed the dad and mother.. That's some scary shit. All because of some snow blowing incident.

That video was THE most fucked up video I've ever seen on the internet.

[Qmx323]

Originally Posted by PeanutButter

Dang, I think you guys come in way too hot. Imagine you're going about your day thinking you're doing nothing wrong and then some guy gives your a sarcastic snarky attitude, how would you react?

Not saying you guys are wrong, it sounds like your neighbours are out to lunch, but I think the right play is to just talk to them like your buddy. Calm and explain your thoughts and see what they say.

The risk of altercation is too high these days, especially with your son there. Imagine if the guy beats the shit out of you or worse.

For what, some garbage? Ever since I saw that video of neighbours fighting and one guy came out and shot and killed the dad and mother.. That's some scary shit. All because of some snow blowing incident.

Sometimes people just need a little education and some respect and they'll ablige.

It was a bit deeper than that. The victims had been taunting and harassing the shooter about his dead wife for months. That video was the boiling point.

[Gumby]

Originally Posted by RabidRat

I don't think I would've been that bothered by my neighbors leaving free stuff out. But regardless, fuck that guy.

Cool of your son to de-escalate. Sounds like you raised him pretty good .

Credit goes to my wife for that!

Originally Posted by PeanutButter

Dang, I think you guys come in way too hot. Imagine you're going about your day thinking you're doing nothing wrong and then some guy gives your a sarcastic snarky attitude, how would you react?

Not saying you guys are wrong, it sounds like your neighbours are out to lunch, but I think the right play is to just talk to them like your buddy. Calm and explain your thoughts and see what they say.

The risk of altercation is too high these days, especially with your son there. Imagine if the guy beats the shit out of you or worse.

I was totally calm with my neighbour at first, basically telling him that if you're going to leave free stuff out, leave it in front of your own house. It only escalated when he responded with "why don't you mind your own fucking business".

I know this guy, my wife talks to his wife when they bump into each other on the street, and we've seen each other's kids. I was so shocked when he threatened to "beat me in front of [your] son" - that's when I went into the fight or flight mode.

I just know our next encounter will be awkward, and I will likely let him know that I didn't appreciate being threatened.

[PeanutButter]

Originally Posted by Qmx323

It was a bit deeper than that. The victims had been taunting and harassing the shooter about his dead wife for months. That video was the boiling point.

Oh wow. I didn't realize there was history there. That puts things in a different perspective.

Also, I'm pretty surprised you guys knew which video I was talking about with my vague description. That's impressive on its own.

[GLOW]

i can see it now....

he's going to tell you how you're wrong and disrespectful you are, and how he's such a nice guy for forgiving you and not fucking you up in front of your son and you shouldn't have said that and you should be thanking him

[Great68]

More changes to RTA coming down the pipe:

Proposed amendments to the Residential Tenancy Act

The Province, through its Homes for People action plan, committed to cut down on unlawful evictions and strengthen the security of tenants, while supporting landlords.

Government is proposing the following amendments to the Residential Tenancy Act and the Manufactured Home Park Tenancy Act that, if passed, will come into force in various phases this spring and summer.

After bill introduction:

- prohibiting personal occupancy evictions in purpose-built rental buildings with five or more units; and
- increasing landlord’s occupancy period from six months to 12 months.

Upon royal assent:

-prohibiting rent increases for additional occupants who are minors and making it an offence to do so; and
-making a clear prohibition for a landlord to give frivolous notices to end tenancy.

By regulation expected by summer 2024:

-requiring landlords to use a web portal to generate Notices to End Tenancy for personal occupancy;
-increasing the notice period that a landlord must give a tenant for eviction for personal use; and
-increasing the tenant dispute period from 15 days to 30 days.

Future regulations:

providing regulation-making authority in the Residential Tenancy Act to:
-prohibit conversion of rental units to specific non-residential uses, such as
+short-term rental accommodation or storage;
+prescribe increased amounts of compensation for evicting long-term tenants for landlord use; and
-clarify the criteria by which the landlord could legally end a tenancy for a problematic tenant.

- Increasing administrative monetary penalties to improve deterrence from contravening the Residential Tenancy Act.

[unit]

there is a house kitty corner to ours that keeps leaving junk next to his fence. apparently my neighbour has spoken to them a few times before about doing this. i dont really care if you leave it out for like a week, but after it's been rained on then its garbage and you need to dispose of it, pure and simple.

[GLOW]

house behind my alley is full of renters, 1 left a table/legs against their fence (across from my garage). whatever reason the legs are gone , table is still there.... now it's got graffiti on it... not sure what will happen to it now b/c no one will take it with spray paint on it.

[PeanutButter]

I'm ok with most of that stuff. Two months to end tenancy in this market is rough. I think three or four months is fair.
Also increasing personal use from six months to 12 months is fine.

But what the FUCK. Increasing dispute period to 30 days is fucking bullshit. These professional renters get more time to FUCK us. FUCK off

[twitchyzero]

im guessing many renters work multiple jobs and/or 6 days a week so 5 - 15 days to respond could be very limiting esp if countdown starts the day it was sent out and may not receive it in the mail until several days later

the difference between 15 and 30 days makes so little difference to the landlord but could be a lifesaver for tenant

also a hearing is sometimes like 6 months away so what's 2 extra weeks?

what i do think is BS is how they claim this will restore some balance to landlords as well but they give no time nor any quantitative factors in said measures

if restrictions keep sliding in tenants' favour there will just be less units on the market which likely hurts prices and strains supply even more

[PeanutButter]

Without further clarification, I'm pretty sure the 15 day dispute is regarding a RTB hearing judgement. So both parties have gone to the rtb and a ruling has been made. If this is the case, I don't see why they need an additional 15 days to file an appeal of judgement.

If you give a 10 day notice to end due to unpaid rent, renters only have five days to dispute it.

Edit: actually nevermind. I dont know what the 15 day is referring to actually. If you go to the rtb and get a judgement. The time limit is 48 hours if you want to appeal.

You still only get five days to appeal an notice of eviction for unpaid rent though.

[donk.]

The Province, through its Homes for People action plan, committed to cut down on unlawful evictions and strengthen the security of tenants, while supporting landlords.

Not a single item is listed that supports landlords

I have no issue with all the tenant support, but if they get that much privilege, the LEAST a landlord should get is the ability to evict a shitty tenant within 30 days and not 120.

[twitchyzero]

the 5 days seem very short
that's like 24-48 hours to respond if sent by registered mail
so if someone missed their internet bill and goes away for the weekend, they will lose their home?

[PeanutButter]

Originally Posted by twitchyzero

the 5 days seem very short
that's like 24-48 hours to respond if sent by registered mail
so if someone missed their internet bill and goes away for the weekend, they will lose their home?

You need to physically sign for a registered mail. Why would you need more than five days to dispute? If you get a notice, you should read it.

The only maybe reasonable one is if the landlord posts it on the door, that may be missed, but if the landlord posts it on the door you get three days to receive it.

Also. This isn't an internet bill.

I'm sure a notice to evict is only after multiple late payments. I doubt this is a surprise for any of these renters.

[twitchyzero]

missed rent or unpaid utilities

signing for a registered mail often means by occupants of the main unit, which doesn't always get to basement/side suites (heck i often see the postie just dumping the notice to fetch the parcel instead of knocking/ringing)

the countdown does start when the LL signs and dates the notice, not when it's received by lessee

and the notice can be given out even for first offence, not after multiple missed payments or very late arrears

i get that many owners need to make mtg on time but the way it's currently structured is rather unforgiving

[Liquid_o2]

I know this forum cannot give legal advice, but why is the BC government so confusing with their policies??

My wife and I are buying her parents townhouse (principal residence) from them. It will be our principal residence. Since it is a transfer from parent to child, is there an exemption on the property transfer tax?

The website is not clear at all https://www2.gov.bc.ca/gov/content/t...ipal-residence

[Traum]

I know from my own personal experience that if your wife is gonna be the sole owner of the property, then you guys would not have to pay the property transfer tax.

But if your name is also gonna be on the title, then I dunno.

Originally Posted by Liquid_o2

I know this forum cannot give legal advice, but why is the BC government so confusing with their policies??

My wife and I are buying her parents townhouse (principal residence) from them. It will be our principal residence. Since it is a transfer from parent to child, is there an exemption on the property transfer tax?

The website is not clear at all https://www2.gov.bc.ca/gov/content/t...ipal-residence

[whitev70r]

Not quite sure what you are confused about .. it is pretty clear to me. Your transaction definitely fits under the full exemption category. By the description, the answer (to me) would be yes, you qualify for full exemption of property transfer tax. Surely, even if it is a purchase from parents to you, you will at least get a notary to make sure all the 't's are crossed and i's are dotted'. When you do that, I predict that a notary or lawyer will be able to confirm that you are exempted.

Full exemption

A full exemption is available if the transferor and the transferee are related individuals and the property meets all the qualifying criteria as a principal residence.

Under Property Transfer Tax, a related individual or relative includes:

your child, grandchild, great-grandchild and their spouse
your parent, grandparent, or great-grandparent
your spouse and their child, parent, grandparent or great-grandparent

[rb]

Question I wonder most is the anti-flipping tax in regards to deemed dispositions for the tax election. I forgot where I saw on the BC govt website, but the tax is triggered when the property is disposed. Technically, its disposed on paper but its not an actual sale to another buyer. I want to rent out my townhouse asap for personal reasons while keeping it as personal residence in the future and to protect future cap gains but bought it last May. Might have to hold off til May 2025 until there is clarification... which would really suck

[donk.]

Would like to see the link for the above, currently it only says a sale, and not deem disposition.

After all, its a "anti flipping" tax, and your not selling it to another buyer, but to yourself on paper.

Rent it out > claim as primary residence for the allowed 4 or 5 years, then deem disposition assuming you did not buy another primary residence in this time frame

Or just email ITBTaxQuestions@gov.bc.ca

[Liquid_o2]

Originally Posted by whitev70r

Not quite sure what you are confused about .. it is pretty clear to me. Your transaction definitely fits under the full exemption category. By the description, the answer (to me) would be yes, you qualify for full exemption of property transfer tax. Surely, even if it is a purchase from parents to you, you will at least get a notary to make sure all the 't's are crossed and i's are dotted'. When you do that, I predict that a notary or lawyer will be able to confirm that you are exempted.

Full exemption

A full exemption is available if the transferor and the transferee are related individuals and the property meets all the qualifying criteria as a principal residence.

Under Property Transfer Tax, a related individual or relative includes:

your child, grandchild, great-grandchild and their spouse
your parent, grandparent, or great-grandparent
your spouse and their child, parent, grandparent or great-grandparent

I just wasn't sure if the exemption was based on a transfer or "gift" of the property. We are purchasing the property and will have a mortgage attached to it.

Our notary did confirm that there is an exemption though.

[Eff-1]

We're a family of 3 and been looking for a detached home in North Van for a few months now. Our budget is entry level so, so that means $1.5 - $1.8. To have a chance, your offer needs to be subject-free.

And for that money, you get is a 50+ year old house that has never been updated, with tiny bathrooms, tiny closets, no master ensuite, single pane windows, and no garage. If you're lucky, a carport.

And yet, here we are. We've put offers now on a few places and lost out each time. It's literally every penny we have. Cash. Stocks. All of it. It also assumes we'll be able to sell our condo above a certain amount, once the time comes to list it.

Once we buy the house, we'll be starting all over building our savings. We're really not used to that, we've always had enough disposable income to do whatever we wanted without stress. Now it will all go into the house. The hope is we'll eventually be able to renovate and update it, but not for a long time. Maybe 24 months away.

Yes, there are less expensive areas around, but we love it on the North Shore, my family is close by, our kid goes to daycare here, etc etc. It's our home.

It's mind boggling. What a world we live in.

[Badhobz]

Just go to Ladner. You can find sub 1.4 for a decent home and once that new tunnel / bridge / whatever is completed your property value will skyrocket.