Buying a rental or investment property

In practice

How I help with buying a rental property

This page is for you if you want to buy a condo, house or small building to rent out.

• Happy to search the market for properties that fit your budget and the rent you need to cover costs.
• We can compare your options side by side on rent, strata fees, property tax, insurance and likely upkeep.
• I’ll help you check strata rental rules, existing tenancies and suites before you commit.

What to watch for

• Strata bylaws that limit rentals or short-term stays.
• Residential tenancy rules, which give tenants strong protections in BC.
• Older buildings with big repairs coming that a depreciation report or strata minutes may reveal.
• Cash flow that only works if nothing goes wrong.

The steps, in order

1. Set a budget and the return you need.
2. Run the numbers on a shortlist, including vacancy and repairs.
3. Make an offer with subjects for financing, documents and inspection.

Good questions to ask

• Does the strata allow rentals, and are there any limits?
• What are the current rents and lease terms?
• What repairs are coming, and is there a special levy?
• What will I really net after costs?

Lease and property law has BC-specific wrinkles, so for anything legal, check with a BC real estate lawyer before you rely on it. This page is general information, not legal, tax or financial advice. Cam Appleton is a licensed real estate representative with Coldwell Banker Prestige Realty.

Book a 15-minute call Call or text 604 256 2002 Email me