NewHome+Condo Guide – Vancouver – November 11, 2023
The first and only complete guide to pre-construction homes and condos
TOWERS 1 & 2 – MOVE IN THIS FALL
Introducing The North, a limited release of 67 exclusive residences defined by bold architecture, spacious interiors and the convenienc e of central Port Haney living. Life at The North means mountain views, river walks, retail amenities and transit access, all steps from home.
Price d for first-time buyers, the North combines thoughtful, pragmatic design w ith residence s on the cusp of nature.
The North. Delivering Life in Balance to Maple Ridge.
IT’S ALWAYS A GOOD IDEA
TO HAVE A PLAN
MARLENE EISNER
EDITOR
New Home + Condo Guide
EMAIL: marlene.eisner@nexthome.ca
TWITTER: @MarleneEisner
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Benjamin Franklin once said, “If you fail to plan, you are planning to fail,” and although he probably wasn’t referring to the home-buying process, that line of thinking can easily be applied to most of the things we aspire to in life — including purchasing a home.
If buying a new home one day is part of your plan, then laying the groundwork for financing it will bring you one step closer to success. This process should start as early as possible and begins with building a good credit score. This three-digit number is integral to obtaining the financing you need from a lender when you decide that yes, a new condo or townhome is the next step in your life plan.
Your credit score begins the moment you pay — or don’t pay — your first bill or credit card balance and continues throughout your life as a consumer of goods and services. To find out everything you need to know to oversee and maintain your credit score, turn to page 12 and our mortgage expert, Alisa Aragon-Lloyd’s easy-to-follow steps.
Regardless of when you plan to enter the new-home market or what kind of home you are looking for, this issue is full of great advice, interesting perspectives and amazing options for your next home, including tips on how to expand your portfolio with a revenue property, and trending decor ideas to help you style your space.
Thanks for letting us be part of your homebuying journey. Let us know what you think. We’d love to hear from you.
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HOT PROPERTIES
FIND YOUR NEXT HOME
PREVIEWS & REGISTRATIONS
ASHLEIGH
Home type: Condominiums
Developer: Peterson Group
On the map: Vancouver
Web: ashleighoakridge.com
Info: A collection of 124, one- two- and three-bedroom Westside homes in a fourstorey building, Ashleigh has a style of her own, designed to make a statement. Located along a quiet tree-lined street, you’ll find residences and wellness amenities that are an artful study in balance, at once blithe and refined, bold and understated, practical and poignant, all within effortless proximity to Oakridge. Register today.
ASTRID
Home type: Townhomes and garden homes
Developer: Enera Enterprises
On the map: Vancouver Web: astridliving.ca
Info: Two- and three-bedroom town and garden homes in Cambie Village, Astrid reflects the heritage of its surroundings
and the contemporary way of life that it offers. From design features that elegantly accommodate the daily needs of family life to the rich finishes that elevate a home’s design esthetic, interiors offer homeowners style, substance and uncompromising family livability. Register today.
EMERGE
Home type: Townhomes
Builder: Essence Living
On the map: Langley Web: https://essenceliving.com/emergetownhomes/
Info: Emerge is a boutique collection of 19 townhomes located in the heart of Willoughby. Interiors are bright and airy to enhance livability. Spacious and thoughtful layouts are designed with functionality in mind, with modern details throughout, with European-style open-concept kitchens, polished tile backsplash and a grand custom island. All homes include a highend stainless-steel appliance package from KitchenAid and are in compliance with BC Energy Step Code 3 requirements. Register today.
THE CUT
Home type: Townhomes and garden flats
Developer: Fabric
On the map: Vancouver Web: thecuteastvan.com
Info: Steps from Trout Lake, the only natural lake in Vancouver, The Cut maximizes livability for families and young professionals. The individual courtyards, rooftop patios and communal greenspaces foster a community spirit. When you’re ready to re-enter the buzz, Commercial Drive provides exceptional retail, dining and entertainment, with more than
300 merchants, all within walking distance. And if you’re inner-city bound, the Greenway and the Skytrain are both in your backyard. Register today.
YORK
Home type: Townhomes
Builder: Listraor
On the map: Vancouver Web: listraor.com/york
Info: A collection of 29 functional threebedroom park-front family townhomes coming to Willow and 37th in West Vancouver. Exceptionally crafted, the townhomes sit unstacked for peaceful, private living, with purposeful floorplans, private rooftop decks and a central community courtyard. Fronting Oak Meadows Park, York is tucked away in nature, yet surrounded by the urbanity of Oakridge and South Cambie. Register today.
SURREY – WHITE ROCK
1. ALTUS WHITE ROCK 1526 Finlay Street
778-294-7794 altuswhiterock.com
2. THE BOROUGHS 2070 Oak Meadows Drive 604-531-6767 theboroughs.ca
3. DOUGLAS GREEN 358 - 175A Street 778-862-8002
4. SOUTHAVEN
3300 King George Blvd. 778-551-1856 southvaven.ca
5. THE LANDMARK AT FOSTER MARTIN 1475 Foster St 604-531-7111 fostermartin.ca
WHITE ROCK POSTCARD VIEWS AND LIVING THE BEACH LIFE
This seaside city near the BC/Washington border has blossomed since its early days as a weekend getaway and retirement mecca! Postcard views frame the historic pier and iconic white boulder. Surrounded by Surrey on three sides, White Rock’s boundaries are Bergstrom Rd. (136 St.) west, North Bluff Rd. (16 St.) north, Stayte Rd. (160 St.) east, and Marine Dr. south.
LIFESTYLE
Sunsets and seaside views. Two scoops of gelato. Fish and chip dinners serenaded by a symphony of seagulls. Simply put, White Rock is living the beach life with a dash of prestige. Many locals grew up vacationing here, and stayed to raise their own families. A closeknit, small town
vibe. People shop local, stop to chat on the oceanfront promenade and love annual events like the Sea Festival.
THE VIBE
Truth be told, White Rock was once nicknamed “the town of newlyweds and nearly dead.” While its mild sunny climate continues to attract active retirees, its upmarket real estate has attracted affluent young people. Seniors on scooters claim the sidewalks, while SUVs take to the roads transporting kids to their math tutors and hockey practices.
DOLLARS AND SENSE
Expect to pay more for everything from coffee to dry cleaning. That said, White Rock is a treasure trove of thrift
shops, including World Serve on Johnston and Peace Arch Hospital Auxiliary on Prospect — often selling contents of local estates.
THE GOOD, THE BAD & THE REST
“More sunshine and less rain” mean more days for kayaking, pier jumping or scaling the legendary white rock
(glacier deposit) that sits on the 5km stretch of sandy beach. Locals appreciate the small-town feel, spectacular sunsets and accessibility to neighbouring Ocean Park. What’s not to love? Beach traffic along Marine Dr. on a sunny Sunday afternoon and high property taxes.
HOT SPOTS
WHITE ROCK BEACH, PIER AND PROMENADE
Fly kites, build sandcastles or wave at the passing trains. The promenade spans from the paddle board rentals at East Beach to the souvenir shops and restaurants at West Beach.
BEAN AROUND THE WORLD
Enjoy the panoramic views from the corner of Johnston and Thrift. This newbie serves a yummy iced caffe Americano. Love the building architecture too — best low-rise building of 2014.
SEMIAHMOO SHOPPING CENTRE
At the hub of 152 St. and 16 Ave., this mall is technically in Surrey, but meets the residents’ essential needs — groceries, banks, restaurants, dentists and variety of shops.
CREDIT SCORE
Your credit score is a three-digit number that lenders use to predict your creditworthiness. Credit scores range from 300 to 900 points. Credit reporting agencies calculate your score based on your payment history, how much you owe, how long you
have had credit and how often you apply for new credit. In general, the higher your score the better, because it means a lower risk for the lender – you’re less likely to become delinquent on credit.
Since your credit score and credit report are constantly changing, it’s important to review them on a regular basis, at least once a year. There are two main credit reporting agencies in Canada — Equifax and TransUnion. Check your records with
both companies. When you request your own credit report, it won’t affect your credit score. By checking it, you can identify and correct inaccurate information, detect fraudulent activity, and gauge your overall credit health.
COMPONENTS OF THE CREDIT SCORE
• Payment history (35 per cent): Each month you pay your bills on time is positive to your account. You receive bonus points every year
“ ” Since your credit score and credit report are constantly changing, it’s important to review them on a regular basis, at least once a year.
you continue to pay your accounts on time. You will lose points if you have a late payment, collections, foreclosure or a judgement placed on your report.
• Utilization (30 per cent): This refers to the balances you have on each credit card and is the fastest way to increase your credit score in a short period of time. You get the maximum amount of points when your balance is one to nine per cent of your available credit line. You gain points for every 10 per cent you reduce your debt, so if you go from a balance of 80 per cent to 40 per cent of your credit line, you will also gain points. It’s also important that you only have balances on about half of your credit cards.
• History (15 per cent): You receive points every year that you have a positive trade line open.
• Inquiries (10 per cent): If you have too many inquiries, you will lose points in your score. Inquires remain on your report for two years, however, they stop deducting points for those inquiries after one year.
• Mixed credit (10 per cent): This refers to the different types of credit: Mortgages, car loans, credit cards, student loans, etc. You will gain points by diversifying your credit file and using another type of credit.
TIMELINE
Credit bureaus update your scores daily based upon the information given by your creditors. Therefore, if you substantially pay down your debt, make sure you have a good mix of credit, pay on time and don’t open too many new lines of credit at once.
HOW TO BUILD UP CREDIT HISTORY EASILY AND QUICKLY
• Open one or two credit cards. If you can’t get approved for a credit card,
try a secured card. This requires a small saving account, which will usually secure the entire credit line on your new card.
• Use your credit card to make daily purchases instead of using cash or a debit card. Don’t use it as a form of financing, but as way of payment. Pay the total balance at the end of the month to build up your credit and avoid paying interest.
• Always pay you other bills, such as hydro, rent, and your cell phone on time. Cell phone companies report your cell phone bill to the credit bureaus, so make sure you pay them on time.
WAYS TO IMPROVE YOUR BEACON SCORE
• Pay off any outstanding balance immediately on loans, credit cards, and other bills. If you have a lot of debt and want to pay some of it off, you should consider debt consolidation.
• Always pay your credit cards and other loans on time. A late payment on a $10 bill has the same impact on your credit as not making a $1,000 payment. Credit is based on trust, no matter what the amount is.
• Never exceed your credit limit.
PLANNING ON BUYING A NEW HOME OR GETTING A LOAN?
If you are planning on applying for a mortgage or a loan, it’s especially important to check your report a few months in advance. To maintain a good credit score or if your score is lower than you would like, here is how to raise it.
• Pay all your bills on time. Paying late or going into collection can reduce your score.
• Make sure your credit limit appears. If your credit card limits aren’t listed, your cards are assumed to
be maxed out, which damages your credit score.
• Stay within your credit limit. Staying below 65 per cent of your limit will help you maintain a higher credit score.
• Pay past due accounts. Delinquent accounts reduce your score more than anything else. Pay these accounts first.
• Don’t close credit cards. Credit score software totals your available credit limits across all your cards. If you close an old card, suddenly you have a lower total limit, which means your credit-to-debt-ratio is higher. This drives down your score. Only close old cards if you have no self-control.
• Keep old credit cards active. The longer you have had an account open, the less likely you are to default on it, and the higher your credit score. But it’s not enough to simply keep old accounts open, you must use the card, even if it’s only once every six months.
• Don’t apply for credit you don’t need. Too many inquires over a short period can reduce your score. When using a mortgage expert, only one credit report will be pulled, and it can be used to go to various lenders.
• Correct negative inaccuracies on your credit report. This can increase your score.
Alisa Aragon-Lloyd has been a mortgage expert for more than 11 years. She has her own company, Bridgestone Financing Pros, powered by DLC Origin Mortgages and is on the board of directors for the Homebuilder Association of Vancouver (HAVAN) and an award-winning member.
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by SARA DUCK
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BURNABY – NEW WESTMINSTER
BURNABY
1. OASIS AT CONCORD BRENTWOOD 4863 Dawson Street concordoasis.com
2. JUNEAU
604-299-9191 juneaubyamacon.com
3. CEDAR CREEK 7166 14th Street 604-529-8868 liveatcedarcreek.com
4. ALASKA 4455 Alaska St 604-299-9191 alaskabyamacon.com
10. THE STANDARD Metrotown thestandardbyanthem.com
Now under construction in the heart of Burnaby’s Southgate City, Icon is poised to become a tranquil enclave in this spectacular 60-acre masterplanned community. Here, residents will experience an easy connection to the surrounding natural environment, as well as exceptional access to every urban amenity.
Soaring 46 storeys to the sky, Icon is Southgate City’s third tower and boasts an eye-catching, elliptical architecture unlike anything else in the neighbourhood. It all adds up to the best of urban living and social engagement.
SAVVY INTERIORS
Comprised of 352 homes ranging from one-bedroom to spacious 1,323-sq.-ft. three-bedroom plans, every fixture and finishing detail has been meticulously curated to craft homes of serene sophistication and elegance. Nine-ft. ceilings plus generous windows create homes that feel open and airy from every angle. And there’s LG integrated heating and air conditioning for comfort
throughout all four seasons. Even the balconies are unique, each one gracefully curved to become a private outdoor oasis.
Chef-inspired kitchens include spacious islands with waterfall edge, premium appliances including five-burner gas cooktop with an undermount stainless-steel single wall oven, and marble-inspired quartzcomposite counters with a matching seamless backsplash. After all, good parties and social gatherings always end up in the kitchen.
Bathrooms, too, present a luxurious outlook, with spa-inspired features including floating-like vanity with custom mirrored medicine cabinet, frameless glass shower or deep soaker tub, and a relaxing ambience.
AMENITIES FOR YOUR LIFESTYLE
Icon’s indoor and outdoor amenities—over 9,000 sq. ft. of them—are sure to impress.
At the grand entrance, an illuminated water feature dances beneath an impressive art sculpture. There’s a hotel-inspired auto court for
effortless drop-offs and pick-ups, plus a dramatic, double-height lobby with concierge desk.
And here’s just a hint of what you’ll find inside: A social club area with fireside lounge, games room, chef’s kitchen and dining area. Step out onto the sprawling outdoor Terrace Lounge that includes outdoor kitchen and dining, plus firepit and lounge seating all surrounded by lush landscaping and sparkling waterscapes. Get fit in the stateof-the-art fitness centre featuring a dedicated yoga and meditation room. When you need a change from the home office, there’s a convenient coworking and study room. And when guests come calling, which you know they will, there’s a comfy guest suite. So, who says you can’t have it all?
The Icon presentation centre is open noon to 5 p.m. daily for previews, except Fridays at 7662 – 18th Street in Burnaby. Sales begin soon with prices starting at $729,900. Visit iconatsouthgate.com or call 604.544.8800 for more information.
RIVIERA
AN ODE TO GLAMOUR
The Palm Springs ‘Golden Age of Glamour’ has arrived in the heart of Metrotown. Introducing Riviera, a 38-storey tower integrating worldclass craftsmanship and sophisticated mid-century style that’s poised to elevate urban living in this sought-after Burnaby neighbourhood.
At the grand entry, an illuminated water feature and distinctive gold lattice metalwork greets residents and their guests—sophisticated, iconic and unlike any other. Inside the soaring, two-storey lobby, a pair of magnificent chandeliers further enhance Riviera’s mid-century aesthetic and create a dramatic nighttime visual, while a concierge is ready to provide uncompromising assistance.
HOMES TO SATISFY
Finishes and fixtures in each home have been meticulously curated to create a serene, elegant tranquility. Spacious, well-planned layouts are
equally suited to family living as they are for effortlessly hosting special occasions. Expansive windows and ceilings of up to nine-ft. invite natural light inside.
Kitchens include an entertainmentfriendly island with a rich stone waterfall edge and lots of space for prep or platters. Full-height cabinetry is paired with quartz composite counters and a seamless Carrara-inspired backsplash for a sleek, contemporary look. Full-sized appliances include a five-burner Bosch gas cooktop and an integrated Fisher & Paykel French-door refrigerator ready to handle demands of every chef.
All this plus generous balconies or garden patios with outdoor lighting.
DAZZLING AMENITIES
Amenities, too, are a step above. Just an elevator ride away, an entire floor of hospitality-inspired amenities awaits—8,000 sq. ft. in all. Here, you’ll
LOCATION
Metrotown
BUILDER
Ledingham McAllister
HOME TYPE
Highrise
SALES CENTRE
4700 Imperial Street, Burnaby
CONTACT
admin@rivierabyledmac.com or 778.658.0288
discover a state-of-the-art fitness centre, social club with fireside lounge and impressive chef’s kitchen and private dining, as well as a comfortable guest suite. Outside, Riviera’s lushly landscaped terrace includes fire tables, barbecues, an outdoor dining space and smartly designed lounge seating. The Riviera Presentation Centre is now open noon to 5 p.m. daily for previews, except Fridays at 4700 Imperial Street in Metrotown. Be among the very first to learn about Riviera as you explore our brandnew Presentation Centre and two beautifully designed display homes. Sales begin soon with prices starting at $764,900.
For more information and to learn about our early buyer incentives, contact the Sales Team at admin@rivierabyledmac.com or 778.658.0288. Register now to stay up to date at rivierabyledmac.com
GROWTH AND DEVELOPMENT COSTS
A HEAVY LOAD ON NEW HOMEOWNERS
The concept of growth pays for growth was introduced by the provincial government many years ago. Development cost charges (DCCs) were established to fund new infrastructure, including the sewers, water, drainage, parks and
roads required to accommodate new housing developments. The idea was straightforward: The cost of expanding or upgrading services should be shared among new developments.
While the industry never objected to this concept, the introduction of DCCs and community amenity contributions (CACs), has resulted in an overwhelming burden on the production of building new homes. These charges have been
accumulating, amounting to as much as 30 per cent of the total cost of a new home, as demonstrated by recent studies.
SKYROCKETING CHARGES
Despite B.C.’s guidelines calling for DCCs to be reviewed every five years, multiple municipalities have lapsed and then sought to correct their charges after 10 or more years in one fell swoop. This has seen DCC increases as high as 250 per cent in Mission, 120
per cent in Langley City, and 83 per cent in the Township of Langley.
In the case of the Township of Langley, the increase as it applies to single-family homes represents more than $45,000 per door in addition to the $40,000 already being applied. When adding Metro Vancouver Regional District increases, this layers on approximately $15,000 dollars per door for a total of more than $100,000 in government-imposed taxes, with little or no protection for in-stream applications. Such unpredictable cost increases are making it impossible to plan projects and rendering many unviable.
A NAIVE OUTLOOK
Some municipal politicians and staff hold a naive belief that DCCs do not affect the end price charged to consumers because developers will charge what the market will bear. The problem with this is twofold. One, DCCs are built into the cost of the new home, which inadvertently places the responsibility of infrastructure improvements onto the new homeowner versus sharing the costs with both new and existing homeowners. Two, these charges form part of the cost that must be covered by builders estimating their ‘potential revenue’ at the beginning of the planning and financing process. In a contracting market with increasing construction costs, extended approval processes and rising interest rates, the market stresses are real, and more projects will continue to be delayed or shelved due to the numbers not penciling out.
The recent withdrawal of a project in Surrey City Centre is an example of how escalating costs can lead to changes in project dynamics. More than 400 below-market units were redirected as market units because the project couldn’t meet B.C. Housing financing criteria and was no longer financially viable.
TIPPING POINT
While the housing market has thrived over the past decades or so, driven
by high demand and low-interest rates, the residential construction industry has willingly absorbed the increasing DCCs and other fees as the cost of doing business. However, the landscape has shifted dramatically, and these charges are now becoming cost prohibitive. They pose a grave threat to the feasibility of providing new housing precisely when increasing the housing supply has become a top governmental priority.
At this critical juncture, when housing supply is paramount, uncontrolled spikes in imposed charges are terminating projects in real-time. The repercussions are far-reaching, as cities in dire need of housing supply stand to lose not only DCC revenue but also the tax income these projects could generate for decades.
The solution lies in rationalizing these charges within a framework
of predictability, certainty and reasonable limits, while safeguarding on-going projects. We earnestly call upon all municipalities, including the Metro Vancouver Regional District, to halt the unbridled increases in charges and actively pursue a sustainable, affordable housing future for all.
Representing the home building industry in Metro Vancouver since 1974, the Homebuilders’ Association Vancouver (HAVAN), a not-for-profit society is proudly affiliated with the provincial and national Canadian Home Builders’ Associations. Visit www.havan.ca Follow Ron @HAVANofficial or email ron@havan.ca
– PORT
1. WEST 505 Nelson Street westbybeedie.com
2. SYDNEY
545 Sydney Ave. 778-948-0333 sydneybyledmac.com
3. VUE Foster Ave & Whiting Way vueliving.ca
4. SOPHORA AT THE PARK #101 - 1135 Pipeline Road 604-942-8416 polyhomes.com
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TIM NG
THE FUTURE OF REAL ESTATE PRESENTATION CENTRES
The world of new development sales is constantly evolving, and so are the expectations of potential buyers. To stay competitive, real estate presentation centres are undergoing a significant transformation. The key to success lies in providing an immersive client experience, equipping potential buyers with essential information and leveraging technology effectively.
CREATING AN IMMERSIVE CLIENT EXPERIENCE
Gone are the days when a simple brochure and a friendly salesperson were sufficient to attract buyers. Today’s clients expect more – they crave an experience that engages their senses and emotions. To meet this demand, presentation centres are increasingly focusing on creating immersive environments.
Design and ambiance play a pivotal role. Presentation centres are no longer sterile and transactional spaces; instead, they are becoming showcases of creativity and innovation. Solhouse 6035 in Burnaby, BC by Bosa Properties or Park Road in Toronto by Capital Developments, are perfect examples of this. Clients step into spaces that are not just functional but also aesthetically pleasing. Lighting, furniture and sound is carefully curated to make clients feel comfortable and inspired. Large communal tables with defined workspaces create a co-working setting where realtors
can bring their clients and present at these presentation centres. This immersive environment can leave a lasting impression.
EQUIPPING CLIENTS WITH INFORMATION
While brochures and floorplans are still essential, the emphasis is shifting towards technology-driven solutions. Animated virtual tours tap into the emotions of potential buyers, allowing them to envision their lives within the new development. Interactive touchscreens and iPad kiosks put the buyers in control where they can compare floorplans, toggle views, explore the area and really immerse themselves into the lifestyle being offered. Theatre rooms with large, window-sized screens can also create an immersive experience for potential buyers.
With this detailed information, clients can ask pertinent questions, discuss their preferences with the sales team and make confident decisions.
LEVERAGING TECHNOLOGY FOR SALES
The integration of technology in presentation centres is not limited to client information. It extends to a broader spectrum of activities, enhancing sales, marketing and customer service.
Using the Blackline platform, with its robust reporting and data analytics, real estate professionals can anticipate client needs and tailor their marketing efforts more effectively. These technologies not only enhance efficiency but also ensure that no potential lead slips through the cracks.
Solhouse 6035
Presentation Centre, Burnaby, BC
Technology such as Blackline can also streamline the sales process itself by using digital signatures, electronic document management and automatic email follow-ups. The future of real estate presentation centres is about creating immersive experiences that resonate with clients, equipping them with the information they need, and leveraging technology to streamline the sales process. As the industry continues to evolve, those who embrace these changes and invest in technology-driven solutions are likely to stay ahead of the curve.
Tim Ng is the Principal and Founder of ADHOC STUDIO and BLACKLINE, an industry-leading digital studio that combines real estate, art and technology. To learn more about ADHOC’s awardwinning renderings and industry leading sales platform, BLACKLINE, visit adhocstudio.ca and blacklineapp.com.
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EXPAND YOUR PORTFOLIO WITH A REVENUE PROPERTY
Real estate has long been known as a cornerstone of financial security. For many homeowners, after paying off the mortgage on a primary residence, the logical next step is to purchase an investment property.
In this issue of New Home + Condo Guide, we speak with Rob Delves, vice-president of development at Quantum Properties, who offers some insights into the considerations new landlords need to factor into the process.
New Home + Condo Guide: It’s no secret that location is king when it comes to real estate in general. But is finding the perfect location different for a revenue property than for one where you’re going to live?
Rob Davies: Many of the same considerations still apply—proximity to services and amenities, easy access to transit and schools, and an attractive outlook. However, purchasing in a community
by SUSAN M BOYCE
with strong fundamentals and development potential rather than in a major urban centre — so Coquitlam rather than downtown Vancouver, for example — has the obvious advantage of being less expensive. And since rents tend to be almost the same, your property should yield a greater rate of return on your investment dollar.
NH+CG: What about floorplans and design?
RD: I tend to favour smaller units, especially for condos. Rather than a two-bedroom, a one-bedroom with den offers flexibility for couples and small families at a more affordable price point, plus it’s easier to finance and in high demand across all markets.
In a wood-frame building, try for the top floor. You’ll have fewer tenant complaints about noise because there’s no one upstairs. Penthouse suites are also more appealing to people who are
concerned about security. Many single women simply don’t like living on the ground floor.
Right now, vacancy rates are so low, renters will take almost anything they can find. But that can change, so it’s important to pay attention to features that will make your property stand out in good times and bad. Storage is a huge issue for most people, so if the suite has a locker and a linen closet rather than just a couple of tiny bedroom closets, it will be more attractive. I believe it’s always good to get a locker, even if you have to pay extra for it.
Then there’s location within the building. Is the front door opposite the elevator, meaning it could be noisy when people are coming home at 2 a.m. after a party?
In an urban area where people are increasingly likely to go car-free, you could probably forego the expense of a parking stall, especially if there’s plenty of secure bicycle parking. In outlying areas such as Abbotsford or
The Onyx at Mahogany
Chilliwack, though, many people still need a vehicle, so that extra expense is worth it to keep your tenants happy.
NH+CG: We’ve probably all heard stories about the “tenant from hell.” What steps should a landlord take to prevent this from happening.
RD: The most important thing is to check an applicant’s references. It takes time, but our property management department often talks to as many as eight people, including employers, previous landlords and personal references.
History is important, so we like to contact at least two of the most recent landlords. Take current landlord references with a grain of salt, because they may have hidden motivation to remove a bad tenant and give a false good reference in order to facilitate this.
Questions to ask include whether there were complaints from neighbours or the strata, was the tenant late paying rent on more than two occasions, and are they breaking a lease early.
We also ask whether the security deposit was or will be returned and if the landlord would rent to the individual again. These last two are somewhat non-intuitive but can provide some telling insights.
Questions for employers are fairly straightforward: Was the person reliable, punctual, respectful. But you also want to check for discrepancies
in timelines, even if you can’t ask for specifics. For example, an unexplained gap in employment could mean the person took an extended vacation or it could mean they were in rehab.
When you’re calling personal references, you know the applicant won’t list people they think will provide a poor character reference, so you need to trust your instincts a bit more. Interestingly, however, parents usually make excellent contacts because they can be, and often are, brutally honest.
NH+CG: Any final advice?
RD: Get rental loss insurance, especially if you have a lower risk tolerance. A lot of new landlords aren’t aware this is available, but typically it’s reasonably affordable and can save a lot of potential stress, especially if you’re relying on that income as part of your retirement plan.
Remember, it’s not just applicable to times when you can’t find a tenant. A number of years ago, there was an apartment near our office that burned down and took almost three years to rebuild. So, those investors had no rental income for that entire period. I’m guessing every one of them now carries rental loss insurance, but it was a hard way to learn.
Quantum Properties is located in Abbotsford. Visit quantumproperties.ca for more information.
Montrose Square in Port Coquitlam
Montrose Square Phase 2
Mahogany at Mill Lake in Abbostsford
Rob Delves
DEDICATED TO EXCELLENCE
THESE BUILDERS AND DEVELOPERS ARE PROUD OF THEIR COMMITMENT TO EXCELLENT CUSTOMER SERVICE AND CREATING GREAT COMMUNITIES
VANCOUVER – DOWNTOWN VANCOUVER
1. CLARIDGE HOUSE 498 West 41st Avenue
604-941-8305 polyhomes.com
2. GRYPHON HOUSE 6191 West Boulevard 604.620.8295 gryphonhousevancouver.com
3. WEST WIND 2620 Acadia Road 604-260-8446
5. AMBER 604-871-8600 aragon.ca/amber
6. THESIS W 49 Ave & Cambie St liveatthesis.com
7. SHIFT 35th Ave & Quebec St. aragon.ca/shift
8. THE CONSERVATORY
11. FORM 1558 West 6th Ave formbyanthem.com
12 PARK 1698 West Georgia Street anthemproperties.com
13. GRYPHON NOVA Oak & 67th 604-620-8295 gryphonnova.com
14. ITALIA
NEW
These listings are meant to offer a comprehensive overview of new home and condo developments currently being marketed throughout Metro Vancouver and the Fraser Valley.
ABBOTSFORD
Court MR
604-621-5888 Now Selling
Downtown Gate TH 604-357-1943 Coming Soon
Falcon Ridge SF 604-309-0540 From $789,000
High Street Village LR/TH highstreetvillage.ca Coming Soon
JEM LR jemliving.ca Coming Soon
Laurel on Mill Lake LR laurelmilllake.com Coming Soon
McKenzie Mews TH mckenzie-mews.com Coming Soon
Montvue LR montvueliving.ca Coming Soon
Onyx at Mahogany LR 778-255-7099 Now Selling
The Peak at Mountainview TH mymountainview.ca Call
The Rail District TH raildistrict.ca Register Now
BURNABY
O2 Metrotown HR o2metrotown.com Now Selling
Arbour MR/TH 604-559-5795 Now Selling
Azure at Southgate HR azureatsouthgate.com Now Selling
Times Square Richmond HR timessquarerichmond.ca Now Selling
Torino HR 604-303-0148 Call
Trillion DP 604-242-1193 Call
Viewstar HR 604-630-6668 Call
Williams Living TH 604-831-9966 Coming Soon
SQUAMISH/WHISTLER
Aegean Homes LR 778-558-5113 Call
Britannia Beach… ...TH… britanniabeachliving.com… Coming Soon
Finch Drive TH 778-990-1129 Register Now
Highline TH/DP 604-757-5550 Now Selling
Redbridge MR/TH redbridgesquamish.com Coming Soon
Sea and Sky TH 604-559-7918 Call
The Lofts LR 604-815-1737 Call
SURREY
Amaya LR/TH amayaliving.ca Call
Bell Green Park TH 604-592-4151 Coming Soon
Central HR 604-498-3887 Call
Century City Holland Park HR centurycitysurrey.com Call
Central Living LR 778-883-7366 Call
District NW HR thind.ca/districtnw Coming Soon
Elwynn Green TH 778-889-7496 Coming Soon
The Park Landmark TH 604-786-0006 Coming Soon
Insignia LR experienceinsignia.com Coming Soon
Jasper TH liveatjasper.ca Register Now
Nova TH mortisegroup.com Call
Nora TH 604-603-6313 Call
One Central HR onecentral.ca Call
Onyx & Ivory TH www.onyxivory.ca Coming Soon
Park George HR 604-583-9866 Call
Piano HR concordpiano.ca Coming Soon
PURA LR 604-681-4800 Now Selling
Sequoia HR sequoiawestvillage.ca Now Selling
Silva HR silvasurrey.com Coming Soon
The Beverly TH 778-400-4773 Call
Unison LR 604-498-2505 Coming Soon
Woodward TH 604-831-0307 Call
Westwood TH westwoodtynehead.ca Now Selling
VANCOUVER & AREA
DOWNTOWN
1335 Howe HR 604-689-8535 Call
Bailey LR liveatbailey.ca Register Now
Block HR 236-471-4834 Call
Burrard Place two HR burrardplace.ca Call
Curv HR thecurv.ca Coming Soon
Eventide LR eventidethree.com Coming Soon
Landmark on Robson HR 604-566-2288 Call
Marco Polo HR marcopolobygryphon.com Register Now
Mirabel HR 604-681-8110 Call
The Pacific HR grosvenorpacific.com Call
The Thurlow HR downtownabovebeach.com Coming Soon
Thesis LR liveatthesis.com Register Now
Vancouver House HR 604-893-8958 Call
EAST SIDE
2550 Garden Drive LR 2550gardendrive.com. Now Selling
Ace one the Drive LR togetheronthedrive.ca. Coming Soon
Assembly LR assemblystrathcona.com Coming Soon
Brock House TH/SF 778-388-8682 Call
Clive at Collingwood LR cliveliving.com Coming Soon
Focal LR 604-563-6777 Coming Soon
Frame HR liveatframe.com Coming Soon
Francis TH 604-330-8848 Call
Format by Cressey TH info@formatbycressey.com Now Selling
Graphia LR grafia.porte.ca Coming Soon
Linx LR 604-394-2602 Coming Soon
Paragon LR 604-688-5566 Coming Soon
River District Ardea HR wesgroup.ca/ardea Coming Soon
The Saint George TH the saintgeorge.ca Now Selling Shift LR aragon.ca/shift By Appointment
Templeton TH templetonliving.ca Now Selling
Triumph TH 604-563-6200 Call
The Windsor HR thewindsorliving.com Now Selling V on E49 LR 778-751-8930. Coming Soon
WEST SIDE
2030 Barclay HR 604-534-2020 Coming Soon
5656 Balaclava LR 5656balaclava.ca Now Selling
99 West MR 604-620-8600 From $528,800
Amber LR/TH 604-871-8600 By Appointment
Arbutus LR 604-307-0607 Call
Autograph LR autographliving.ca Coming Soon
Ava LR 604-736-0050 Coming Soon
Boden TH 604-369-4265 Move-In Ready
Carven LR kerrisdalebykenstone.com Coming Soon
Chelsea by Cressey MR 604-805-1804 Now Selling
Claridge House HR 604-941-8305 Register Now
CURV HR thecurv.ca Register Now
Dunbar at 39th LR wesgroup.ca/dunbar Call
Eila on W49 TH 604-558-5848 Call
Form HR Anthemproperties.com Coming Soon
Grace TH gracewestside.com Register Now
Gryphon House MR 604-620-8295 Call
Gryphon Nova MR 604-620-8295 Call
Heather and Seventeenth LR Liveheather17.com Call
Heritage on Cypress & Second SF 778-729-0898 Call
Italia HR italiabysolterra.ca Coming Soon
Ivy on the Park HR 604-225-0117 Call
Just West TH 604-734-8883 Call
Kitsilano Block LR kitsilanoblock.com Coming Soon
Legacy on Dunbar LR 604-990-8800 Call
Lilibet LR 604-879-0030 Now Selling
Oak +52
TH 604-828-7352
Coming Soon
Oku 64 Oak LR okuliving.com Coming Soon
Ortus LR ortusliving.com Coming Soon
Park HR anthemproperties.com Coming Soon
Park Grand TH 778-999-2552 Coming Soon
Perron GH/TH 604-603-8889 From low $800’s
Pinnacle On the Park at False Creek HR 604-874-8368 Call
Primrose TH PrimroseVancouver.com Coming Soon
Pure LR purewest49.com Call
Rowe TH 604-299-1363 Comimg Soon
Rowen W47 TH rowen47.ca Call
Savannah HT liveatsavannah.ca Coming Soon
Savoy LR savoycambie.com Coming Soon
Sixteen & Burrard TH/DU 778-729-0898 Call
TESORO HR tesorobyconcert.com Now Selling
The Conservatory CH/HR 604-821-8291 Now Selling
The Kirkland LR 604-415-2908 Call
The Regent TH 604-273-1313 Call
Voyce LR voyce.ca Call
West 4th & Trimble SF 778-729-0898 Now Selling
W63 Mansion LR 63mansion.com Coming Soon
W68 HR w68.ca Coming Soon
West Boulevard DU 778-729-0898 Call
Westbury in Arbutus Ridge TH 604-620-8295 Call
West Oak LR/TH 778-716-6888 Now Selling
West Wind at Lelem HR 604-260-8446 Register Now
Winston South Oak LR 604-809-6233 Call
Wordsworth HR 604-882-0098 Now Selling
York TH yorkvancouver.com Register Now
Yukon Residences TH 604-558-5850 Call
WEST VANCOUVER
Bellevue by Cressey HR/TH 604-290-2626 From $4.4M
Evelyn TH 604-922-0330 Call
Executive on the Park LR 604-926-2398 Call
Galleries on the Bay LR 604-836-7355 From $490,000
Hawksley LR liveathawksley.com Now Selling
The Sentinel HR 604-926-9260 Call
Weston Place LR westonplace.ca Register Now
Wildwood TH liveatwildwood.com Now Selling
WHITE ROCK/SOUTH SURREY
Altus LR 778-294-7794 Call
The Boroughs TH theboroughs.ca Now Selling
Douglas Green TH douglasgreenliving.com Coming Soon
Elisa TH elisaliving.ca Coming Soon
Horizon TH 604-441-8789 Coming Soon
Kendrick SF kendrickbymarathon.com Now Selling
King & Crescent LR 604-560-0272 Call
Landmark at Foster Martin HR fostermartin.ca Coming Soon
Miramar Village HR 604-542-8882 Call
Monaco HR liveatmonaco.ca Call
The Loop TH gramercy.ca/home/the-loop Coming Soon
The Oak TH 604-360-0789 Call
Soleil HR soleilwhiterock.com Call
Southaven TH 604-377-1078 Call
South Village TH 604-910-9919 Call
OUT OF TOWN PROPERTIES
KELOWNA
Caban .LR/TH cabanbycressey.com Now Selling
ELLA HR 778-215-6788 From $679,900
Waterscapes HR 250-763-8313 Call
LANGFORD
The Scene HR livethescene.ca Register Now
NOTE: Pricing is subject to change; please contact the specific development for more up to date details or special promotions.
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COME & SEE BURNABY’S BEST VALUE
Steps from the SkyTrain, impressive amenities, stunning features and finishes, and now incredible savings - these homes eclipse anything else you’ll find in Brentwood.
