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FALL 2021
MAXIMUM RENT INCREASE INADEQUATE
Changes for Energy Efficient Buildings
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CONTENTS 4
CEO’s Message
6
Advocating For Change
10
Maximum Rent Increase Inadequate
14
Climate Change Policy
18
Income Tax for Landlords
21
Changes for Energy Efficient Buildings
24
LandlordBC Fall 2021 Events
25
Hunter’s Hints
27
Associate Members/ Corporate Suppliers Mainland
30
Associate Members/ Corporate Suppliers Vancouver Island
Disclaimer: This publication is designed to provide informative material of interest to readers; the opinions of the authors of the articles do not, however, necessarily represent the opinions of the board of directors. The magazine is distributed on the understanding that it does not constitute legal, accounting or other professional advice. Although the published information is intended to be helpful, neither we nor any other party will assume liability for loss or damage as a result of reliance on this material. Appropriate legal, accounting or other assistance should be sought from a competent professional. Articles cannot be re-printed or reproduced in any form without the sole permission of LandlordBC.
FALL 2021 | 3
THE KEY
CEO’S MESSAGE David Hutniak, CEO, LandlordBC Change is a constant except, it seems, when it comes to our federal government. On September 20th, 2021, Canadians went to the polls only to then learn that we continue to have a minority Liberal government. I can’t help but feel a sense of despair that we’re likely going to have another election in 18 months. Let’s hope not. The Liberals and Conservatives may differ in what they say (well, somewhat), but the reality is they are both largely focused on redistributing the meagre proceeds of an economy that is not growing due to the fact neither party has a vision or plan for improving efficiency and driving competition. And while they both “promise” to grow the supply of housing, neither has had a particularly good track record on this file when in power, and their 2021 election promises just seem like a lot of words because, as we all know, it is municipalities who control land use, permit approvals, etc., all the while kowtowing to NIMBYs. So, while we now know that we have another Liberal minority government, and that the knives are out for the Conservative party leader, let’s state a simple truth as it applies to rental housing: The only true long-term solution to the rental housing crisis is an increased SUPPLY of purpose-built rental housing sufficiently large enough to drive prices down. Repeatedly, governments have tried to solve the problem of housing by trying to control the demand. Rent controls and other restrictions have been around since the 1970s and have never worked to alleviate the issues. These tactics only serve to band-aid the rental environment in the short term and offer the politicians of the day something with which to placate the voting tenants of B.C.
SO, HOW DO WE FIX THE SUPPLY OF PURPOSEBUILT RENTAL? There are all kinds of symptoms surrounding the real issue and often these are tackled in hopes of finding a solution. This sometimes produces short-term breathing room, but nothing long term is going to change until the root of the issue is addressed — namely, it is significantly less risky and more profitable to build condominiums than purpose-built rentals. Here are some of the reasons: • At some stage, municipalities decided to demand part of the profits from developments. In the early days it was a legitimate request but soon the money rarely built new infrastructure, instead it started flowing into general expenses. Unfortunately, this has resulted in a conflict. While municipalities tell renters “we’re on your side”, they are in fact discouraging purpose-built rental building through unfriendly
4 | FALL 2021
bureaucracy and a fee structure designed for condominiums. Rentals simply don’t feed the machine. • Taxes unfairly burden rental builders and, ultimately, renters. When you are building any structure, the materials and labour attract PST and GST. For a condominium development those taxes are neutral. When the condominiums are sold the taxes are simply passed on to the buyers. Unfortunately, for a rental building, taxes must be absorbed as part of the cost, because there is no end buyer to pass taxes on to (residential rent is GST and PST free). This adds significantly to the cost of construction. As an additional disincentive, at the completion of construction the federal government requires the owner to estimate the fair market value of the completed building and remit GST on that value. Even if the building is not sold, the owner is required to “sell it to himself” (a deemed transaction) to generate a big GST win for the government. Talk about adding salt to a wound. • Lastly, unlike every other business in Canada, rental building owners cannot roll over their assets for capital gains purposes. When a rental building is sold, even if the proceeds are immediately reinvested in rental housing, the gain on the building is taxed like a capital gain. The effect of this tax rule is that building owners who might otherwise redevelop their properties or sell them as rental sites, don’t do so because of the huge capital gains impact they would suffer. Thousands of buildings are frozen by the federal tax regime.
WHAT NEEDS TO CHANGE? Quite simply, the playing field needs to level. And I say simply, because it really is a simple problem to solve with a little political will. • Regulate (provincially) or ban the taking of payments for rezoning or land use decisions made by municipalities. • Municipalities need to develop a new approach to the building of purpose-built rentals and stop treating them like condominiums. • Incentives like additional density need to be focused on encouraging rentals. • Municipalities need to add a step to new building regulation changes which justifies the improvement against the cost. • Taxes need to be fair. It cannot be significantly worse to build or own an apartment building from a tax point of view. a. Municipalities need to lower property tax increases on rental buildings to match allowable rent increases. b. Rental buildings need to be zero rated for GST, not exempt. This needs to include the building and running of rental buildings. c. Rollovers of rental properties into larger rental properties need to be capital gains exempt. • Real change will only be seen when purpose-built rentals are 30 to 50 per cent of new building permits for multi-unit buildings. Municipalities need to target a percentage, not a number of units. • If your municipality really wants to get purpose-built rental housing built, please ensure that collectively you and planning management get on the same page in terms of rental housing. As for planning management, stop holding back your amazing staff. • Finally, don’t make the rental business unattractive. Focus on increasing the supply and be wary of trying to control the existing stock. Rent controls, unit restrictions, taxes, and building regulations will only drive interest away.
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THE KEY
ADVOCATING FOR CHANGE
The problem with a CPI based maximum rent increase The problem with basing a rental rate increase on the Consumer Price Index (CPI) is that the rental market is not based on CPI. LandlordBC has prepared a CPI analysis to illustrate that those items of the All Item CPI Index (AIC) which are directly applicable to the operation of a rental apartment building represent only 10.0 per cent of the CPI. Therefore, the majority of CPI (90 per cent) is not applicable to the operation of a rental apartment building and therefore the AIC does not form a legitimate base to establish maximum rental rate increases. Whereas the AIC is being used to establish increases in market rents for a residential rental property, only 10 per cent of the AIC is actually applicable to the cost of operating a residential rental property.
The correlation bet ween maximum rental rate increases tied to CPI and the changes in operating expenses is ver y weak as the following analysis demonstrates. Our sector deser ves an index that is more representative of our actual costs drivers. LandlordBC will continue to advocate for change so that we may have a strong and vibrant rental housing ecosystem. Components of the All Item CPI Index (September 2017) The All Item CPI is based on the following components and weightings:
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Item:
CPI Weighting %
Food
16.23
Shelter
27.15
Household operations, furnishings & equipment
12.97
Clothing & Footwear
5.44
Transportation
19.70
Recreation, education and reading
10.88
Health and Personal Care
5.00
Alcoholic Beverages and tobacco products
2.63
Total
100.00
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THE KEY CPI Rent (Cont’d)
Item:
... MANY OF THE COMPONENTS
Owned Accommodation
OF THE CPI ARE NOT RELATED TO THE OPERATION OF A RENTAL APARTMENT BUILDING. It is noted that many of the components of the CPI are not related to the operation of a rental apartment building. Although substantial changes in some components of the CPI may have a substantial impact on a renter, these changes may have no impact on the operation of the rental building. Conversely, substantial changes in some components of the CPI may have a substantial impact on the operation of a rental apartment building but have no direct impact on the rent that a renter will pay. The section of the AIC that most directly relates to the operation of a rental apartment building is shelter. The shelter component of the CPI is based on the following items and weights: Components of the All Item CPI Index Which Relate to a Rental Apartment Building Item
CPI Weighting %
Rental Accommodation
6.7
Rent
6.5
Tenants’ Insurance Premium
0.1
Tenants’ maintenance, repairs and expenses
0.1
Owned Accommodation
16.1
Mortgage Interest Cost
3.5
Homeowners’ replacement cost
4.8
Property Taxes and other special charges
3.4
Homeowners’ home and mortgage insurance
1.3
Homeowners’ maintenance and repairs
1.4
Other owned accommodation expenses
1.6
Water, Fuel and Electricity
4.3
CPI Weighting %
Property taxes and other special charges
3.4
Homeowners’ maintenance & repairs
1.4
Homeowners’ home & mortgage insurance
1.3
Water, Fuel and Electricity
3.9
Electricity
2.4
Water
0.6
Natural Gas
0.9
Total Shelter applicable to a rental apartment building
Relative Weighting between the CPI Index and Rental Apartment Building Expenses The cost to operate rental apartment buildings vary due to size, location, construction, tenant base, wind and sun exposure, renovations, energy efficiency upgrades, as well as a large number of other factors. LandlordBC conducted a review of analysis of typical expense levels for a variety of rental apartment buildings in the Lower Mainland (predominantly Vancouver) and then compared these expenses with the AIC, as well as with the shelter component of the CPI to establish relative weightings.
Item:
3.4
17.3
Homeowners’ maintenance & repairs
1.4
22.9
Homeowners’ home & mortgage insurance
1.3
4.9
Electricity & Natural Gas
3.3
16.9
0.6
3.8
Water
0.6
Natural Gas
0.9
Fuel oil and other fuels
0.3
Water
Total Shelter
27.1
Total 10.0
8 | FALL 2021
CPI Weighting %
% of Operating Expenses for Rental
Property taxes & other special charges
2.4
Those items which are applicable to the operation of a rental apartment building are as listed below:
10.0
Those items which are directly applicable to the operation of a rental apartment building represent 10.0 per cent of the CPI, therefore, the majority of CPI is not applicable to the operation of a rental apartment building and therefore the All Item CPI does not form a legitimate base to establish maximum rental rate increases.
Electricity
The total shelter component of the CPI reflects 27.1 per cent of the total CPI, however, even within the shelter component, there are items which are not applicable to the operation of a rental apartment building.
6.1
65.8
The above components represent 10.0 per cent of the All Item CPI however, they represent approximately 65.8 per cent of the operating expenses for a typical rental apartment building. The percentage of operating expenses varies widely depending on location within the province, with northern and central communities experiencing substantially higher electricity and natural gas costs.
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THE KEY
MAXIMUM RENT INCREASE INADEQUATE Analysis of Rental Building Expenses vs. RTA Maximum Allowable Rent Increase 2017-2021
For all past maximum allowable rent increases, please visit www.landlordbc.ca members-only section and navigate to “resources” then “quick links.”
The residential rental housing sector is on a negative financial trajectory. Some of the highest cost increases faced by our sector include property taxes, utilities, and insurance. LandlordBC has long expressed concern that operating expenses that are driven by local and provincial governments, and are thus out of our sector’s control, are significantly impeding our ability to deliver affordable rental housing for British Columbians. While we are very sensitive to the challenges many renters are experiencing finding safe and affordable rental housing across B.C., the ability for rental housing providers to better cover cost inflation is critical for the continued viability of the rental housing ecosystem.
As a result, over the five years from 2017-2021, the compound annual maximum allowable rent increase has been only 1.7 per cent. It is important to note that the RTA rent control formula sets a maximum cap on rent increases and this is by no means a guaranteed increase.
The purpose of this analysis is to demonstrate how much higher the actual operating expense increases of a typical purposebuilt rental apartment building in Metro Vancouver have been over the last five years compared to the maximum annual allowable increase under the Residential Tenancy Act (RTA) rent control formula that was 2 per cent + CPI Inflation until 2018. In 2019, in response to a recommendation by the Rental Housing Task Force, the B.C. NDP government reduced the maximum annual allowable increase formula to cap at the Consumer Price Index for BC (CPI). Then, as part of its response to the COVID-19 pandemic, the government froze rent increases entirely from April 2020 through to the end of 2021.
SAMPLE BUILDING The sample purpose-built rental building is: • Three storey wood frame - built in the late 1970s. • 41 units. • Suburban Metro Vancouver location. • Well-maintained by long-term owner/managers who have re-invested in the property with large capital expenditures over time.
MAXIMUM ALLOWED RENT INCREASE UNDER THE RTA FOR 2017-2021 From 2005 to 2016, the maximum allowable rent increases under the RTA’s rent control formula have fluctuated (depending on CPI inflation for each year) ranging from as low as 2.20 per cent in 2014 to a high of 4.3 per cent in 2012. As previously stated, rent increases were frozen by the provincial government from April 2020 through to the end of 2021. Therefore, the maximum annual allowable 2.6 per cent rent increase for 2020 was only applicable for those tenancies with anniversary dates from January 1, 2020 to March 1, 2020. In the sample building used in this analysis, only five tenants (approximately 12 per cent) out of the 41 suites had anniversary dates between January and March 2020. Therefore, we have assumed 12 per cent of the 2.6 per cent maximum allowable rent increase for 2020, or an estimated effective overall maximum allowable rent increase of 0.31 per cent.
10 | FALL 2021
THE DATA The main cost driver line items that have increased the most during the sample period, many of which are set by, and paid to, the government: Government Administered Expenses: • Property Taxes • Water & Sewer • Electricity
Other Expenses: • Insurance • Repairs and Maintenance
As of 2021, these main cost drivers now account for 78 per cent of total operating expenses. Some of the highest cost increases faced by rental housing providers have been expensive items levied by the government and/or government regulated.
OPERATING EXPENSES FAR EXCEED RTA MAXIMUM ALLOWED RENT INCREASE The chart below combines all the above main cost drivers as well as the total operating expenses over the period 2017-2021 and compares their increases with the rent of a typical suite increased at the maximum allowable rate under the RTA. The bright red columns highlight the rent index over time. Rent growth under the RTA maximum allowable rent control rate is far lower than all the main cost drivers as well as far lower than the increase in total operating expenses.
THE KEY The subsequent charts isolate each individual operating cost item versus the rent of a typical suite increased at the maximum allowable rent increase under the RTA’s rent control formula.
Government Administered Expenses (2017 — 2021)
The final chart shows the increase in total operating expenses versus the rent of a typical suite increased at the maximum allowable rent control rate. The data shows that while the rent only grew at a compound annual rate of 1.7 per cent over the past five years, costs grew at far higher rates (CAGRs): While residential rent increases have been frozen for most of 2020 and all of 2021, wages in B.C. increased 7.9 per cent in 2020i. For 2021, B.C. annual wage increases are averaging +3.3 per cent as of March 2021ii.
Property Taxes
+ 10.9%
Water Rates ($/CuFt)
+ 12.6% per annum
Sewer
+ 7% per annum
Electricity
+ 7.2%
Other Expenses (2017 — 2021) Insurance
+ 13% per annum
Repairs & Maintenance
+ 12.6% per annum
Total Operating Expense (2017 — 2021)
+ 9.8% per annum
CONCLUSION As illustrated, as of 2021 the main cost drivers outlined in this brief now account for 78 per cent of total operating expenses. Some of the highest cost increases faced by rental housing providers have been expensive items levied by the government and/or government regulated. The current trends are not sustainable and place the entire rental housing ecosystem as risk. Over 30 per cent of B.C. households rely on privately owned rental
12 | FALL 2021
housing and in order to meet the ever-growing demand for rental housing, property owners must have a reasonable expectation of some profit to justify the risk and to make continued investments into their properties. The impacts are real and can be seen today in the form of a growing cohort of landlords being forced to exit the sector after years, often decades, of providing safe, secure, long-term rental housing in our communities.
LandlordBC continues to serve as the leading voice of the rental housing industry by advocating on behalf of our members and the broader sector. We are very concerned that inflationary costs are outstripping the maximum annual allowable increases to which we are limited both annually and cumulatively, thereby impeding our ability to deliver affordable rental housing for British Columbians.
SUMMARY TRENDS
1
CONSUMER PRICE INDEX B.C.
CANADA
% Change
AVERAGE WEEKLY WAGE RATE CURRENT DOLLARS B.C.
CONSTANT DOLLARS
CANADA
% Change
B.C.
CANADA
% Change
EMPLOYMENT GROWTH
UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
SEASONALLY ADJUSTED
B.C.
CANADA
% Change
B.C.
CANADA
% Change
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
2.4 1.1 -0.1 1.0 1.1 1.8 2.1 2.7 2.3 0.8
2.9 1.5 0.9 2.0 1.1 1.4 1.6 2.3 1.9 0.7
2.0 1.8 3.5 0.3 3.6 1.0 1.3 3.9 2.7 7.9
2.4 3.2 2.2 1.7 2.7 1.9 1.5 2.9 3.3 6.8
-0.4 0.7 3.6 -0.8 2.5 -0.8 -0.8 1.1 0.3 7.1
-0.5 1.7 1.3 -0.2 1.6 0.4 -0.1 0.6 1.3 6.0
0.2 1.6 0.1 0.6 1.2 3.2 3.7 1.1 2.6 -6.2
1.5 1.3 1.5 0.6 0.8 0.7 1.9 1.3 2.1 -5.2
7.5 6.8 6.6 6.1 6.2 6.0 5.1 4.7 4.7 8.8
7.5 7.3 7.1 6.9 6.9 7.0 6.3 5.8 5.7 9.5
2020
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2.3 2.4 1.2 0.0 -0.2 0.5 0.2 0.2 0.4 0.5 1.1 0.8
2.4 2.2 0.9 -0.2 -0.4 0.7 0.1 0.1 0.5 0.7 1.0 0.7
6.6 7.7 11.9 16.9 13.6 9.3 4.1 7.4 5.3 4.8 4.9 5.2
4.8 4.3 7.8 12.4 11.8 7.9 6.1 6.4 5.6 5.5 4.9 5.7
4.2 5.2 10.5 16.9 13.9 8.8 4.0 7.2 4.9 4.2 3.7 4.4
2.3 2.1 6.9 12.7 12.2 7.2 6.0 6.3 5.0 4.8 3.9 4.9
-0.2 -0.7 -6.0 -16.6 -15.4 -10.7 -8.0 -7.3 -4.7 -3.8 -2.1 -1.9
1.5 1.4 -3.9 -14.9 -13.4 -8.4 -6.1 -5.4 -3.6 -3.1 -2.5 -3.1
4.6 5.1 7.2 11.5 13.4 13.3 11.2 10.7 8.6 8.0 7.3 7.2
5.6 5.7 7.9 13.1 13.7 12.5 10.9 10.2 9.2 9.0 8.6 8.8
2021
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1.1 0.9 -
1.0 1.1 -
5.9 4.1 -0.1
7.1 5.0 0.9
4.7 3.2 -
6.0 3.8 -
-1.7 -0.6 6.2
-4.4 -3.1 3.9
8.0 6.9 6.9
9.4 8.2 7.5
Monthly percent changes are calculated as month over same month previous year Prepared by: BC Stats
Source: Statistics Canada Labour Force Survey
i “Wage Rate Information — Province of British Columbia”. Statistics Canada. https://www2.gov.bc.ca/gov/content/data/statistics/people-population-community/income/wage-rate-info ii “Earning & Employment Trends — April 2021”. Statistics Canada. May 7, 2021. https://www2.gov.bc.ca/assets/gov/data/statistics/people-population-community/income/earnings_and_ employment_trends_data_tables.pdf
FALL 2021 | 13
THE KEY
CLIMATE CHANGE POLICY, REGULATION, AND MURB RETROFITS Are you ready for what’s coming?
By Sofia Marmolejo, FRESCo Building Efficiency Governments and industries are grappling with increasing requirements for reducing greenhouse gas emissions (GHGs) in response to threats from climate change. This is leading to a global trend towards phasing out technologies and energy sources that have high emissions, and replacing them with low- and zero-carbon alternatives. This is referred to as decarbonization and it can include “electrification”, which is the conversion of fossil-fuel based systems to high efficiency electric systems, as well as the use of renewable fuels. The scale of the coming energy shift is massive. Across the globe, building electrification is increasingly seen as a critical component of this shift. This is particularly true in places like B.C., which has a relatively low-carbon electricity grid. We are just at the beginning of seeing how emissions targets, policies, and regulations will impact landlords in B.C. It is clear that building decarbonization is going to be required, regulations and carbon taxes are going to increase, and that the industr y has a long way to go in adapting to this rapidly changing landscape. Landlords that effectively manage the transition will be able to take advantage of
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HOW DOES THIS AFFECT YOUR BUILDINGS?
Across B.C., 30-60 per cent of community emissions come from buildings and 97 per cent of those emissions come from space and water heating. It is important for landlords to understand electrification opportunities and challenges when doing renovations and replacing building systems as decisions taken today will impact building performance, operating costs, and emissions for decades to come.
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numerous benefits that come with modernizing their buildings. Those that don’t will face significant challenges. LandlordBC is taking a leadership role in helping landlords better understand these issues so they can make informed decisions throughout this transition.
With significant federal, provincial and municipal emission reduction targets set for 2030 (only nine years away) and 2050 (29 years away), new regulations are coming that are intended to drive emissions down. All of the major building components installed today will still be in place in 2030, and many of them in 2050 and beyond. While some buildings will be redeveloped in this timeframe, the majority of buildings standing today will still be here in 2050. New construction undoubtedly has a big role to play, but effectively retrofitting existing buildings will be critical. The BC Building Electrification Road Map (BERM) envisions that by 2030 most replacement hot water and space heating systems will be high-efficiency electric. Building retrofit practices are going to shift rapidly. Billions of dollars in funding have been announced by the various levels of government for programs to support decarbonization. These initiatives encompass energy studies, rebates for new equipment, and funding for knowledge and capacity building. While the rental housing industr y has too often received little support from energy efficiency
THE KEY Climate (Cont’d) programs, the importance of the sector is increasingly being recognized by policy makers. The time is right to ensure that the sector gets the attention and support it requires so it can continue to provide critical housing to British Columbians, while meeting emission reduction objectives. LandlordBC is in the process of developing a pilot project to support landlords with decarbonizing their buildings, which will help lay the groundwork for broader efforts across the sector.
MARKET FORCES ARE ALSO DRIVING CHANGE
Electrifying buildings can provide numerous benefits that are helping to drive the market. Some examples include: • Air Conditioning & Indoor Air Quality: As heat waves and wildfire seasons are becoming more frequent and intense, providing cooling and improving air quality is becoming a necessity. Hundreds of people in the province died from overheating during this past summer’s heat wave. Tenants are increasingly installing portable A /C units that are not only inefficient, they can have large power draws and can risk overloading electrical systems and damaging buildings. Heat pumps offer the opportunity to provide both heating and air conditioning very efficiently and can help improve indoor air quality. They not only have built-in air filtration
but can also be integrated with heat recovery ventilation to further improve air quality in an efficient manner. • Shif ting to a tenant- pays model for utilitie s: Mos t utility costs in B.C. apartment buildings are paid by landlords as most buildings use central mechanical systems. In-suite heat pumps enable a greater portion of utility costs to be paid by tenants, who are also given greater control over their comfort and their energy use. • Attracting investment: Many investors, particularly larger institutional investors, are increasingly incorporating Environmental, Social and Corporate Governance (ESG) objectives into their decision making, with emissions reductions being a key component. Some landlords are already seeing the impacts and upgrading their portfolios in order to attract capital. • Mitigating risks from future regulations: Reducing carbon emissions will reduce costs from future carbon taxes, which are set to increase from the current $45/tonne to $170/tonne by 2030. Numerous other regulations are in development, which may necessitate building upgrades and/or have large financial consequences for buildings with higher emissions. Utilizing low-carbon strategies in building retrofits being planned now, reduces landlords’ risks in an uncertain regulatory environment.
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17 SUITES | RETROFITTED Steps from 2 Future Broadway SkyTrain Stations List Price: $9,180,000 (Fully Retrofitted)
25 SUITES | 18,298 SF LOT Centrally located in the Fernwood neighbourhood List Price: $7,150,000 (Rental upside)
57 RENTAL UNITS | 9.43 ACRE SITE Close to Upper Lonsdale and Lynn Valley Town Centre List Price: $56,250,000 (3.4% Cap Rate)
LAGUNA BEACH APARTMENTS (VANCOUVER)
MONTCALM APARTMENTS (VANCOUVER)
MANHATTAN APARTMENTS (VANCOUVER)
FOR SALE
FOR SALE
FORSOLD SALE
23 SUITES | OCEAN VIEW PENTHOUSE UNIT Central West End location near English Bay List Price: $11,600,000 (Rental Upside)
24 SUITES INCLUDING 2-BED PENTHOUSE West Side location just steps from Granville Street List Price: $8,800,000 (Rental upside)
41 SUITES | COMPLETELY RENOVATED Mount Pleasant Neighbourhood Status: Sold (August 2021)
LOUISE COURT (VANCOUVER)
CEDAR PARK APARTMENTS (NORTH VANCOUVER)
SHERLAN APARTMENTS (VANCOUVER)
UNDER CONTRACT
UNDER CONTRACT
Have a rental apartment property and are considering selling? Wondering if now is the time to sell? Need advice or have questions? Contact us for a no obligation valuation of your property!
For current listings, visit: NationalApartmentGroupBC.ca
LANCE COULSON GREG AMBROSE PERSONAL REAL ESTATE CORPORATION
Executive Vice President National Apartment Group - BC
604 662 5141
lance.coulson@cbre.com
Associate Vice President National Apartment Group - BC
604 662 5178
greg.ambrose@cbre.com
CBRE LIMITED, REAL ESTATE BROKERAGE
16 | FALL 2021
KEVIN MURRAY
FORSOLD SALE
Senior Sales Associate National Apartment Group - BC
604 662 5171
kevin.murray4@cbre.com 59 SUITES | LARGE 26,840 SF CORNER SITE Steps from transit & amenities on Commercial Drive Status: Sold (August 2021)
21 SUITES | 12,240 SF LOT Steps from Central Lonsdale Avenue Status: Under Contract
21 SUITES | 8,646 SF LOT West of Denman St. Steps from Stanley Park Status: Under Contract
WHAT ARE THE WAYS TO ELECTRIFY A MURB? There are a number of approaches to electrifying a MURB. Some key strategies are presented below: • Convert from central hydronic heating to in-suite heat pumps (in addition to benefits already discussed, this can eliminate maintenance and leaks from aging hydronic systems). • Install a heat pump on a central hydronic heating system, usually in conjunction with a natural gas boiler for periods of high-loads. • Convert the central ventilation equipment (make-up air unit) to heat pumps. • Convert the domestic hot water systems to heat pumps (typically done with central systems but can also be done with in-suite systems). While there are numerous technologies available today to electrify building mechanical systems, it can be a complex process. Common challenges to electrification include: • Higher capital costs. This is partially addressed by B.C.’s recently announced Additional Rent Increase (ARI) process, which recognizes upgrades that improve efficiency and reduce emissions as eligible capital expenditures.
• Higher costs of running electric equipment v. gas equipment, though this is changing as carbon taxes increase. • Increased project complexity and time required compared to more conventional retrofits. • Site-specific technical challenges (e.g., building electrical capacity, finding a suitable location for equipment). The trend toward building electrification has already started with numerous landlords having already completed projects, and many more in the process. This is expected to increase dramatically in the next few years. Now is the time to get ready for the transition. Interested in learning more? Watch the recorded webinar on LandlordBC’s YouTube channel titled ‘Climate change policy, regulation, and MURB retrofits - Are you ready for what’s coming?’ and stay tuned to LandlordBC’s e-news for an upcoming electrification summary report.
Sofia Marmolejo works with FRESCo’s team of engineers, analysts, and project managers. For more information contact info@frescoltd.com; www.frescoltd.com
Apartment Financing Specialists CMHC and Conventional The Best Pricing in the Market
Derek Townsend Principal 604‐683‐2518 dtownsend@citifund.com 700 – 1111 W. Hastings St. Vancouver, BC V6E 2J3
Visit our website at www.citifund.com to see some of our past projects.
FALL 2021 | 17
THE KEY
INCOME TAX FOR LANDLORDS Personal vs. Corporate Ownership By Sherry Shi, CPA, Manager, Smythe LLP TABLE 1 – COMBINED TAX RATE FOR INDIVIDUALS IN BC Taxable Income
Combined Tax Payable
Combined Tax Rates
Marginal Tax Rates
$40,000
$5,601
14.00%
22.70%
$50,000
$7,867
15.73%
28.20%
$80,000
$16,327
20.41%
31.00%
$100,000
$22,569
22.57%
38.29%
$120,000
$30,284
25.24%
40.70%
$150,000
$42,494
28.33%
44.02%
$200,000
$65,135
32.57%
49.80%
$300,000
$117,145
39.05%
53.50%
$400,000
$170,645
42.66%
53.50%
$500,000
$224,145
44.83%
53.50%
TABLE 2 – PERSONAL AND CORPORATE TAX COMPARISON
Many of us start out in the residential rental business with one or two rental buildings. At the start, it might be easier to keep it simple and just report your rental income on your personal tax returns. However, when your rental portfolio starts to grow, you might be looking for a better structure to optimize your income tax. In this article, we have provided an overview of the tax comparison between personal and corporate ownership and additional considerations when choosing an ownership structure that is right for you.
TAX RATES — PERSONAL VS. CORPORATE
One of the most common questions that we have been asked is: “is it time for me to incorporate to help with my taxes?” and the answer is: it depends. Personal and corporate ownership both offer their own unique advantages. At a higher income level, corporations may enjoy a lower tax rate compared to individuals. There is no right or wrong answer as we have clients with both forms of ownership for their own reasons, but our clients in this business are mostly operating as corporations.
18 | FALL 2021
Net Rental Income
Tax Payable
Tax Rate
Personally owned
$200,000
$65,135
32.57%
Corporations with 5 or more full time employees in rental business, qualified for SBD
$200,000
$22,000
11.00%
Corporations with 5 or more full time employees in rental business, not qualified for SBD
$200,000
$54,000
27.00%
Corporations with less than 5 full time employees in rental business
$200,000
$101,340
50.67%
Income for personally-owned rental properties is reported on the owners’ personal tax returns and is taxed at the personal tax rates. For 2021, the combined (federal and provincial) tax rate for individuals in British Columbia (B.C.) range from 20 per cent for taxable income at $80,000 to 33 per cent for taxable income at $200,000, with marginal tax rate ranging from 22.70 per cent for taxable income over $42,184 to up to 53.50 per cent for income over $222,420. Table 1 shows the progression of combined and marginal personal tax rates at different income levels.
If the rental properties are owned within a Canadian corporation, the rental income is reported as either passive investment income or business income. For corporations with five or more full-time employees in the rental business, rental income is considered active business income and would be subject to general active business corporate tax rate at 27 per cent. For small businesses that qualify for the small business deduction (SBD), the first $500,000 of active business income can further enjoy the lowest tax rate at 11 per cent. However, for corporations with less than five full time employees in the rental business, rental income is generally considered passive investment income and is taxed at a combined tax rate of 50.67 per cent.
integrated, meaning the same income would result in the same amount of taxes whether it is earned corporately or personally. However, it is not precisely integrated due to differing provincial personal and corporate tax rates. Tax savings as illustrated by the differences in Table 2 can only be achieved when income is earned at the corporate level and not distributed to the owner. If net income after tax is paid to the owner in the form of salary or dividends, the owner would pay additional personal taxes on the salary/dividends, bringing total corporate and personal taxes to a level similar to if the properties are owned personally. As such, corporate ownership works best for people who earn more income than they need and thus can be deferred as corporate income at a lower tax rate.
Table 2 shows a comparison of the total tax payable for $200,000 of net rental income when the rental properties are held personally or held by a corporation with different characteristics. From the perspective of current tax payable, owning rental properties in a company is more beneficial if you have more than five full-time employees in the rental business. For small rental operations with five or less full-time employees, owning rental properties personally may result in lower taxes.
NON-TAX CONSIDERATIONS
An important concept when considering tax savings is integration. The Canadian tax system is designed to be
• Loss deductibility — in years with rental losses, an individual owner can use the rental loss to offset other
It is important to recognize that tax is not the only deciding factor when choosing the optimal ownership structure. Additional considerations may include:
FALL 2021 | 19
THE KEY Income Tax (Cont’d) employment, business and investment income in order to reduce personal tax owing for the year. For corporate owners, rental losses cannot be used to offset other income earned by the shareholder(s). Instead, the losses can be carried back three years to recover corporate income tax previously paid, or be carried forward 20 years to cover rental income earned in the future. • Limited liability — corporations can provide liability protections to shareholders. Owning rental properties personally can expose the shareholder to unlimited liability. This is particularly true for owners of multiple properties. • Flexibility with corporate ownership structure — one of the main benefits of a corporate ownership is that it offers flexibility for changing ownership, planning remuneration structures and estate planning, all of which would be more difficult to achieve when the properties are owned personally. • Additional compliance costs — the flexibility of a corporate ownership comes with a cost. Incorporating a new company means additional costs associated with legal reporting, record keeping, tax filings, etc. Tax savings from a more complex structure may not result in a net gain after considering additional compliance costs.
20 | FALL 2021
• Other structures — personal and corporations are not the only choice when it comes to rental proper ties. Co-ownership, limited par tnership, or general par tnership is also commonly used ownership structures in the real estate sector that of fer their own pros and cons. Ultimately, there is no one ownership struc ture that f its all. How you should struc ture your por t folio should be a decision with all considerations of your current business, your grow th plans, employee struc ture, investment intent, your risk level and even your estate planning. Always consult your legal and tax advisors to formulate a struc ture that f its your specif ic needs.
Sherry Shi is a manager in the real estate and construction group at Smy the LLP. For fur ther information, contact us at 604.687.1231 or visit smy thecpa.com. The information provided is a general over view and should not be construed as tax advice. We recommend seeking professional advice from your tax advisor in respect of your specific situation.
CHANGES FOR ENERGY EFFICIENT BUILDINGS By Mel Tugade, Energy Solutions Manager, FortisBC If you own one of B.C.’s many aging rental apartment buildings, you may be paying more to provide comfortable heat and hot water for your tenants. Now is an ideal time to start reducing these operational costs through energy efficient upgrades by participating in FortisBC’s Rental Apartment Efficiency Program before the winter season. And the good news is eligible buildings can continue to get help for free through this program. FREE ASSISTANCE AVAILABLE FOR BUILDING OWNERS AND MANAGERS Rental apartment buildings play a key role in providing affordable housing for British Columbians across the province but with property owners and managers balancing multiple priorities, they may not have the time to seek out what energy efficient upgrades can be implemented in their buildings. This is where FortisBC and FRESCo Building Efficiency (FRESCo) can lend a helping hand.
“We understand that with so many competing priorities, property owners and managers often don’t have the extra time to implement the most cost-effective energy saving measures but that is where we can come in and help make the process easier,” said Jordan Fisher, president of FRESCo, who delivers the program for FortisBC. “We’ve seen firsthand the benefits this program has brought to owners and tenants across the province, and it continues to provide that all-in-one support to building owners.”
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FALL 2021 | 21
THE KEY Implementing energy efficiency upgrades provides a wide range of benefits that are directly passed along to the tenants living in these buildings. Replacing showerheads with ones that are energy efficient can provide a consistent flow rate and these showerheads have multiple spray settings so tenants may feel as if the water pressure is the same, if not better than before. Replacing older light bulbs with LEDs can help provide more consistent and even lighting throughout the units.
• reduced greenhouse gas (GHG) emissions by about 19,000 tonnes, the equivalent of removing more than 5,800 cars from the road for a year and, • saved approximately 284,000 kWh of electricity per year, the equivalent energy use to power around 27,000 homes for a year.
GETTING STARTED WITH ENERGY EFFICIENCY UPGRADES
It can be difficult to know what energy efficiency upgrades will work best for your particular building. To help get you started, when you sign up for the program you can receive a free building energy assessment conducted by a FortisBC authorized consultant who will provide a report identifying a custom range of upgrades that can help lower the building’s energy use. So far, more than 1,000 energy assessments have been completed to identify energy saving measures within rental buildings and the free energy efficiency measures installed are helping building owners reduce operational costs and these funds can be allocated to other building improvements. On average, building owners can save around $12,000 in operational costs by installing free measures such as shower heads and faucet aerators and up to $108,000 when installing high-efficiency water heaters and boilers.
Based on surveys completed by participating building owners and tenants, they’ve seen incredible value in these energy efficiency upgrades and are thrilled with the results. Building owners appreciated the support they received through the program and thought it was a great way to implement energy efficiency and water consumption upgrades at no cost to them. Tenants were surprised to find these small steps made a big impact in reducing water consumption and energy costs which made them feel like they’re having a positive impact on the environment. Now in its sixth year, FortisBC, with help from FRESCo, has delivered the Rental Apartment Efficiency Program in more than 1,100 apartment buildings across B.C., representing more than 55,000 units. Since the program began, participating building owners and their tenants in total have:
As it’s becoming increasingly important to conserve water, especially during the summer months, there are some simple ways to help you reduce the amount of water used in your buildings. Under the program, FRESCo contractors may install water-efficient faucet aerators and showerheads in each apartment. In total, almost
• saved around 340 million litres of water per year, enough to fill 136 Olympic-sized swimming pools,
INVESTMENT PROPERTIES FOR SALE FOR SALE
FOR SALE
FOR SALE
NEW PRICE
8675 Fremlin Street
Suffolk Place
1575 East 1st Avenue
Silvercrest Suites
Vancouver, BC 18 unit Marpole apartment building with numerous capital expenditures completed
Port Coquitlam, BC Newly constructed purposebuilt rental building with 29 luxury units in Port Coquitlam
Vancouver, BC Well maintained 13 unit building in the heart of the Commercial Drive neighbourhood
Kamloops, BC Newly built (2014) strata-titled rental apartment building on Kamloops’ North Shore
Contact us to request a copy of the 2021 Mid Year BC Multifamily Market Report and to discuss the outlook for the year ahead PATRICK MCEVAY*
Senior Vice President (604) 789-0720
Patrick.McEvay@MarcusMillichap.com
ADAM HERMAN
Associate (604) 652-3016
Adam.Herman@MarcusMillichap.com
JAMES BLAIR*
Senior Vice President (604) 790-7089
James.Blair@MarcusMillichap.com
CHRIS TIGAS
Associate (778) 319-9941
NICOLAS MORETTI
Associate (778) 789-5348
Christopher.Tigas@MarcusMillichap.com Nicolas.Moretti@MarcusMillichap.com
*Personal Real Estate Corporation
22 |LandlordBC FALLAd.indd 20211
2021-09-09 4:51 PM
80,000 bathroom and kitchen faucet aerators have been installed in rental buildings through the program, reducing water use by an estimated 186 million litres per year which is equivalent to running a garden hose nonstop for 15 years. With just these free watersaving upgrades, your building’s natural gas use could be reduced by about 12 per cent annually. In addition to the services above, customers located in FortisBC’s electricity service area across the Southern Interior are eligible to receive up to 10 LED light bulbs per suite in participating buildings. LED light bulbs use less power and can last about 15 times longer than traditional incandescent or fluorescent light bulbs. Natural gas is an affordable way to heat water, common areas and suites but with aging buildings comes older, less energy efficient equipment. FortisBC offers rebates on high-efficiency boilers, water heaters, condensing make-up air units, pipe and tank insulation, and more for commercial and multi-unit residential buildings. If you choose to invest in further energy-efficiency upgrades, you’ll receive free ongoing support for implementation at no cost. This includes having a qualified engineer develop specifications, gather quotes from independent contractors, review the installation, and complete the required rebate paperwork.
INCREASING SUSTAINABILITY IN RENTAL BUILDINGS If you’re a building owner or manager who is looking to reduce building
operating costs through energy efficiency upgrades, this is your chance to sign up for the program and take action to save energy, water and money. There’s no cost, and you could make improvements that make your buildings more sustainable and affordable to operate, all while helping FortisBC work towards it’s 30BY30 target — to reduce their customers’ GHG emissions by 30 per cent by 2030, and helping the province meet its climate action goals. Increasing energy efficiency in buildings is one of the ways FortisBC is working to achieve its 30BY30 target, and programs like this one are helping provide building owners and managers with free assistance to help them lower their energy use and reduce GHG emissions.
LET’S WORK TOGETHER If you own or manage an older purpose-built rental apartment building with nine or more units and receive natural gas and/ or electricity from FortisBC, sign up for the Rental Apartment Efficiency Program. In response to the COVID-19 pandemic, all FRESCo employees performing site visits carry hand sanitizer and wear the required personal protective equipment including gloves, face masks and safety glasses to ensure the safety of the employees and the building occupants.
For full details on eligibilit y criteria and program terms and conditions, visit for tisbc.com/landlord, call 1.877.327.6137 or email apar tmentrebates@for tisbc.com
ADVICE FOR LANDLORDS FROM THE GROUND UP • Residential Tenancy Branch • Evictions • Landlord/Tenant Disputes • Construction and Repair Claims • Strata Disputes • Judicial Reviews • Lease Drafting and Reviews • Property Management Issues
CALL ALEX J. CHANG
LESPERANCE MENDES LAWYERS 550-900 Howe Street, Vancouver BC Phone: 604-685-3567 Email: AJC@LMLAW.CA FALL 2021 | 23
THE KEY
LANDLORDBC FALL 2021 EVENTS We have a number of exciting events coming up in the last few months of the year. Keep an eye on our e-newsletters, website and social media for more information and registration details.
LANDLORDBC 2021 AGM October 20, 2021, 8:00 am — 10:30 am Once again, this year we are moving the AGM online. The morning will begin with a quick update on our government relations and advocacy efforts, followed by the AGM. After the AGM we will present an update on recent RTB changes along with a Q& A. Last but not least, a presentation by premier sponsor, The Home Depot. To register for the AGM see our last e-newsletter or call 1.888.330.6707.
LANDLORDBC WEBINAR SERIES SPECIAL PRESENTATION: DIVERSITY, EQUITY, AND INCLUSION November 10th, 17th, and 24th, 12:00 pm — 1:30 pm This special three-part webinar series will be presented by international speaker and performance coach, Renee Charles, and will explore the following:
550 17,500
24 | FALL 2021
Module 1 - What is Diversity and Why Should I Embrace it? We live and work in a diverse world; and being able to embrace and effectively navigate the differences among us is a key to personal and professional success. Module 2 - Exclusion vs Inclusion: Where Do I Stand? As human beings, we all have a fundamental desire to belong. In both our personal and professional lives, we all want to be seen, be heard, and know that we matter. Module 3 - Anti-Racism In Action We don’t have to look very far to see examples of racial injustice. Racial differences exist between us — that’s a fact. Treating racialized people with dignity and respect — that’s a choice. At the conclusion of the AGM on October 20th, Renee will present a brief intro to this series to attendees. LandlordBC is really looking forward to bringing this important education to our members, be sure to keep an eye on our e-newsletters and website for registration information.
HUNTER’S HINTS By Hunter Boucher, Director of Operations, LandlordBC
I have been waiting to write this article since September of 2018, which is when the provincial government announced the annual rent increase formula would be changing, essentially removing the additional two percent added to inflation. Along with this announcement came a promise to address landlords’ costs for necessary capital expenditures by creating a transparent and easy to use Additional Rent Increase process. Right away LandlordBC leapt to action and led much of the conversation with the RTB with the aim to ensure the result would be a transparent and accessible process for both landlords and tenants. While mostly ready to roll out in in early 2020, the launch of this new tool was put on pause due to COVID-19. The process, legislatively activated July 1, 2021 and now open to applications through the RTB’s online portal, allows landlords to apply for an Additional Rent Increase to recoup the costs of necessary capital expenditures in the residential property.
For a capital expenditure to be eligible it must made for the purpose of: • Maintaining, repairing, or replacing a major system or component such as electrical, mechanical, or structural that is necessary or, • Reducing greenhouse gas emissions or energy use or, • Improving the security of the rental property. AD card:q7
12/9/11
9:52 AM
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FALL 2021 | 25
THE KEY Hunter’s Hints (Cont’d) Ineligible expenditures include: • Repairs needed as a result of inadequate repair or maintenance by the landlord. • Repairs or maintenance that are expected to recur within five years. • Expenditures where the landlord has recouped the cost from another source. Landlords with eligible expenditures will be able to apply through the RTB’s online portal for this Additional Rent Increase which will result in what is essentially a Dispute Resolution hearing where both the landlord and tenant(s) will have an opportunity to discuss the matter with an arbitrator. When making the application landlords may include all capital expenditures made over the previous 18 months (from the date of application) and must include all units the landlord intends to increase on one application. The expenditure is considered incurred when the invoice is paid, and where the large scale project has costs separated into multiple invoices, the 18-month clock begins from the date the last invoice is paid. Increases through this process will be calculated by taking the total eligible expenditures divided by the number or dwelling units which is then divided by 120 months (10-year amortization). The increases are capped at three percent but may be spread out over three years to a maximum of nine per cent over the three-year period in addition to normal annual increases. This means that if the tenants’ increase is eight per cent, they will receive an increase of three per cent in the first year and again in the second year with an increase of 2 per cent occurring in the third year. Landlords are able to utilize an RTB calculator to determine what their potential increase may be before applying. The cost to apply for an Additional Rent Increase is $300 + $10 per unit. Payment must be made at the time of making the application and will not be included as an eligible expenditure. Given the cost to apply and the already significant backlog of RTB hearings, we recommend landlords take their time and thoroughly prepare for their application. Additionally, as this process is meant to be as transparent and straightforward as possible the best way to ensure it remains a viable option is by making sure that the work is done at the outset to ensure applications are well thought out and prepared
for. Landlords should begin their preparation by reviewing the eligibility criteria to ensure the expenditures they are considering to submit have the best chance of success. Once a landlord has determined if their expenditures are eligible, they should use the RTB calculator to get an idea of what their increase could potentially be. Landlords may make one application that includes multiple capital projects completed at the same residential property. With applications that include multiple expenditures, the arbitrator will make a decision based on each individual expenditure. It is also important to note that while the calculator uses the regulated formula for these increases and is the same tool arbitrators will use in determining the increase amount, it may differ from your final result. This will depend on what expenditures the arbitrator finds meet the eligibility criteria. The first increase must be given within a year of the decision and the RTB has developed a new Notice of Rent Increase form to ensure landlords and tenants are clear on how the increases are to be implemented. Increases through this process are in addition to the normal annual increase but must be given with that increase so landlords considering applying should consider the timing of their standard rent increases. Additional Rent Increases are meant to augment regular annual rent increases. It should be noted that while this increase is meant to be in addition to the regular rent increase, the timing and frequency of increases has not changed. This means that landlords who are successful in their application for an Additional Rent Increase must still only serve one increase per 12-month period and provide three months’ notice. The RTB has created a new Notice of Rent Increase form to allow landlords to include both the regular rent increase and the Additional Rent Increase on the same notice — this would be considered just one increase. This change is the result of a significant amount of work by the RTB’s policy team in collaboration with LandlordBC and we welcome this much needed new tool. Landlord is continuing our dialogue with the RTB regarding this tool and would like to hear from our members that have utilized this process to ensure we are able to continue to provide timely and relevant feedback to the RTB. Rental housing providers that would like to provide this feedback to us can reach out to me at hunterb@landlordbc.ca.
Rob Barr
Account Executive rob.barr@wasteconnections.com T: 604 525-2072 C: 604 834-7578 F: 604 855-0565
26 | FALL 2021
Waste Connections of Canada 34321 Industrial Way| Abbotsford, BC V2S 7M6 www.WasteConnectionsCanada.com
ASSOCIATE MEMBERS/CORPOR ATE SUPPLIERS - MAINLAND ACCOUNTING
D&H Group LLP Michael Louie (604) 731-5881 www.dhgroup.ca Smythe CPA Daniel Lai (604) 687-1231 www.smythecpa.com
ADVERTISING & PROMOTION
Places4Students.com Laurie Snure (866) 766-0767 www.Places4Students.com
AIR CONDITIONING
Milani Plumbing Heating & Air Conditioning Alex Milani (604) 638-8800 www.milani.ca Reliance Home Comfort Jeff Baldwin (778) 874-2984 www.reliancehomecomfort.com
APPLIANCE - RENTALS Coinamatic Canada Inc. Jack Ursaki (800) 361-2646 www.coinamatic.com
APPLIANCE - SALES & SERVICE
Coinamatic Canada Inc. Jack Ursaki (800) 361-2646 www.coinamatic.com Handy Appliances Ltd. Rocky Mangat (604) 879-1555 www.handyappliances.ca Penguin Appliances Sales & Services Inc. Harb Sangha (604) 451-4411 www.penguinappliances.com Penguin Appliances Sales & Services Inc. Harb Sangha (604) 451-4411 www.penguinappliances.com The Brick Commercial DivisionMidnorthernAppliance Shane Grant (604) 517-5815 www.thebrick.com Trail Appliances Catherine Maxwell (778) 571-3476 www.trailappliances.com
APPRAISAL - INSURANCE Normac Nicole Daniels (604) 221-8258 www.normac.ca
ASBESTOS REMOVAL
BMS Plumbing & Mechanical Systems Ltd. Tamara Merchan (604) 253-9330 www.bmsmechanical.com
Phoenix Restorations Ltd. John Wallis (604) 945-5371 www.phoenixrestorations.com Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca ServiceMaster Restore of Vancouver Janak Lally (604) 435-1220 www.svmvancouver.ca
BAILIFF AND COLLECTIONS SERVICES NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
BIOHAZARD REMEDIATION
Phoenix Restorations Ltd. John Wallis (604) 945-5371 www.phoenixrestorations.com ServiceMaster Restore of Vancouver Janak Lally (604) 435-1220 www.svmvancouver.ca
BUILDING ENVELOPE
Atria H&YI Wojtek Ulasewics (604) 837-8813 www.atriaconstruction.ca Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca Remdal Painting & Restoration Inc. Paul Maryschak (604) 882-5155 www.remdal.com
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Greater Vancouver Home Services Ltd. Shawn Stevens (778) 727-2888 www. greatvancouverhomeservices.com
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Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
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Greater Vancouver Home Services Ltd. Shawn Stevens (778) 727-2888 www. greatvancouverhomeservices.com
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
ELEVATOR
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City Elevator Ltd. Heiner Marnet (604) 299-4455 www.cityelevator.ca Metro Elevator Ltd. Preet Binning (604) 569-2977 www.metroelevator.ca
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Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca Vancouver General Contractors Emily Kosichek (604) 430-3004 vancouvergeneralcontractors.com
CREDIT REPORTING AGENCY
RentCheck Credit Bureau Brenda Maxwell (800) 661-7312 www.rentcheckcorp.com
DECKS AND BALCONIES
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
DEMOLITION SERVICES
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
DEPRECIATION REPORTS
Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
DRAINAGE & SEWER
Milani Plumbing Heating & Air Conditioning Alex Milani (604) 638-8800 www.milani.ca
DRAPERIES AND BLINDS - SALES Westport Manufacturing Mary Mckinley (604) 261-9326 www.west-port.com
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Air-Vac Services Canada Ltd. Brent Selby (604) 882-9290 www.airvacservices.com
ELECTRICIANS
Evanson Electric Ltd. David Evanson (604) 657-7957 www.evansonelectric.com
BC Hydro To learn more about energy saving opportunities go to www.bchydro.com FortisBC Energy Inc. Chris Alionis (604) 592-7985 www.fortisbc.com FRESCo Building Efficiency Jordan Fisher (778) 783-0315 www.frescoltd.com Wyse Meter Solutions Inc. Peter Mills (800) 672-1134 www.wysemeter.com
ENGINEERS
FRESCo Building Efficiency Jordan Fisher (778) 783-0315 www.frescoltd.com Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
ESTATE & SUCCESSION PLANNING Monarch Financial/ Manulife Securities Inc. Richard Laurencelle (604) 681-2699
EV CHARGING STATIONS Sparkle Solutions Corp. Connie Goldman (604) 396-3184 www.sparklesolutions.ca
EXTERIOR/ SIDING REPLACEMENT
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
FIRE PROTECTION & MONITORING
Community Fire Prevention Ltd. Brett Johnston (604) 944-9242 www.comfire.ca Vancouver Fire & Radius Security Joslyn Alderson (604) 232-3488 www.vanfire.com
FIRE PROTECTION, MONITORING, & EQUIPMENT
Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com
FLOORING AND CARPETING
Mira Floors Limited Kevin Bergstresser (604) 856-4799 www.mirafloors.com Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
GUTTERS, SOFFITS & RAILING INSTALLATION
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
INSPECTIONS-TENANCY COMPLIANCE
Canadian Tenant Inspection Services Ltd. Anna Garnett (778) 846-9125 www.ctiservices.ca NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
INSURANCE
AC&D Insurance Services Ltd. Athanasios Kiosses (604) 982-1039 www.acdinsurance.com BFL Canada Insurance Services Inc. Stacey Wilson (778) 374-4125 www.bflrealestate.ca Capri CMW Insurance Services Ltd. Gordon Li (604) 294-3301 www.capricmw.ca Megson FitzPatrick Insurance Services Mike Nichol (250) 519-2300 www.megsonfitzpatrick.com
INVESTMENT & RETIREMENT PLANNING Monarch Financial/ Manulife Securities Inc. Richard Laurencelle (604) 681-2699
LANDSCAPING - LAWN & GARDEN MAINTENANCE BUR-HAN Garden & Lawn Care Robert Hannah (604) 983-2687 www.bur-han.ca
This list is intended for use by the members of LandlordBC. It is distributed with the understanding that it does not constitute a recommendation or guarantee from LandlordBC. Rather it is consolidation of recommendations received by LandlordBC from its individual members. Although the information is intended to be beneficial, neither we nor any other party will assume liability for loss of damage as a result of reliance on this material.
FALL 2021 | 27
THE KEY ASSOCIATE MEMBERS/CORPOR ATE SUPPLIERS - MAINLAND LAUNDRY EQUIPMENT LEASING AND SALES Sparkle Solutions Corp. Connie Goldman (604) 396-3184 www.sparklesolutions.ca
LEGAL SERVICES
Haddock & Company Diane Bennett (604) 983-6670 www.haddock-co.ca Lesperance Mendes Lawyers Alex Chang (604) 685-1255 www.lmlaw.ca
MEDIA
MediaEdge Communications Dan Gnocato (604) 549-4521 www.mediaedge.ca
MORTGAGE FINANCING
Citifund Capital Corporation Derek Townsend (604) 683-2518 www.citifund.com CMHC Eric Bond (604) 737-4161 www.cmhc.ca First National Financial LP Michael Yeung (778) 887-8843 www.firstnational.ca Realtech Capital Group Inc. Anderson Ng (604) 662-4810 www.realtechcapital.com
NARCOTICS DETECTION & SECURITY NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
PAINT & COATING INSPECTION
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
PAINT SALES
Cloverdale Paint Inc. Dave Picariello (604) 596-6261 www.cloverdalepaint.com
PAINTING SERVICE
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
REMDAL PAINTING & RESTORATION INC. Paul Maryschak (604) 882-5155 www.remdal.com
PEST CONTROL
Assured Environmental Solutions Brett Johnston (604) 463-0007 www.assuredenvironmental.ca
Solutions Pest Control Ltd. Jason Page (604) 986-8881 www.PestSolutions.ca
PIPE LINING/ RE-PIPING CuraFlo of BC Ltd. Randy Christie (604) 298-7278 www.curaflo.com
PLUMBING/HEATING/ BOILERS
Allied Plumbing, Heating & Air Conditioning Lance Clarke (604) 731-1000 www.allied-plumbing.ca BMS Plumbing & Mechanical Systems Ltd. Tamara Merchan (604) 253-9330 www.bmsmechanical.com Brighter Mechanical Mike Pearson (604) 279-0901 www.brightermechanical.com Cambridge Plumbing Systems Ltd. John Jurinak (604) 872-2561 www.cambridgeplumbing.com Manna Plumbing Ltd. Chris Kobilke (604) 710-3908 www.mannaplumbing.com Milani Plumbing Heating & Air Conditioning Alex Milani (604) 638-8800 www.milani.ca Montalbano Plumbing Services Ltd. Giovanni Montalbano (604) 444-0222 www.montalbano.ca Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca Reliance Home Comfort Jeff Baldwin (778) 874-2984 www.reliancehomecomfort.com Viessmann Manufacturing Co. Inc. Randy Stuart (604) 533-9445 www.viessmann.ca Xpert Mechanical & JK Lillie Ltd. Kerry West (604) 294-4540 www.xpertmechanical.com
POWER WASHING
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
PRINTING
Citywide Printing Ltd. Gordon Li (604) 254-7187 www.citywideprint.com
PRIVATE INVESTIGATION AND SKIP TRACING NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
28 | FALL 2021
PROPERTY MANAGEMENT
Advent Real Estate Services Ltd. Michelle Farina (604) 736-6478 www.rentwithadvent.com Aedis Realty Azi Hosseini (604) 330-3122 Aidin Ashkieh Aidin Ashkieh (604) 566-1010 Ambiance Property Management Inc. Deepak Kumar (604) 366-4959 www.ambianceproperty.ca Associa British Columbia Inc. Katie Khoo (604) 501-4417 www.associabc.ca Associated Property Management (2001) Ltd. Rob Zivkovic (250) 712-0025 www.apmkelowna.com Austeville Properties Ltd. Andrew Abramowich (604) 216-5500 www.austeville.com Bayside Property Services Ltd. Lynda Creamer (604) 432-7774 www.baysideproperty.com Bayswater Projects Ltd. Nicholas Wadsley (604) 720-0603 www.Bayswater-projects.com BentallGreenOak Candace Le Roux (604) 646-2814 Birds Nest Properties Alvin Cheung (604) 260-9955 birdsnestproperties.ca Bodewell Realty Inc. Myra Rajan (604) 633-5511 www.bodewell.ca Burr Properties Ltd. Andrew Lee (250) 940-2826 CAPREIT LIMITED PARTNERSHIP Pamela Dimayuga (604) 632-9991 www.caprent.com Casa Rental Management Richard Van Slyke (604) 273-6801 Century 21 Energy Realty Erin Vowles (250) 785-0021 Century 21 In Town Realty Michael La Prairie (604) 685-5951 www.century21vancouver.com Century 21 Prudential Estates (RMD) Ltd. Mike Blackall (604) 278-2121 www.century21pel.com CLV Group Michael Forani (613) 728-2000 www.clvgroup.com
Complete Residential Property Management Dennie Linkert (250) 370-7093 www.completeresidential.com Copper Ridge Court Vera Lloyd (250) 372-0829 Coronet Realty Ltd. Aaron Best (604) 298-3235 www.coronetrealtyltd.com Custom Realty Ltd. Jolene Foreman (604) 916-6345 custom-realty.ca Deecorp Properties Patricia Dee (604) 683-0002 Delaney Properties Ltd. Diana Delaney (250) 550-2120 www.delaneypropertiesltd.com Devon Properties Ltd. David Craig (250) 595-7000 www.devonproperties.com Dexter Realty/Dexter PM Kevin Skipworth (604) 869-8226 www.dexterrealty.com Dorset Realty Group Canada Ltd. Ron Schuss (604) 270-1711 www.dorsetrealty.com Downtown Suites Ltd. Nicholas Meyer (604) 694-8801 downtownsuites.ca DPM Rental Management Ltd. Phillip Paull (604) 982-7051 www.DPMonline.ca Eagleson Properties Ltd. Katherine Eagleson (604) 879-1070 eaglesonproperties.com EasyRent Real Estate Services Ltd. Sean Rafati (604) 662-3279 www.easyrent.ca Equitex Realty Ltd. Joe Bellows (250) 386-6071 equitex.ca FirstService Residential Christopher Mis (604) 689-6975 www.fsresidential.com GMA Consulting Ltd. Glen Smith (604) 783-5404 Green Door Property Management Ben Green (250) 688-0362 GWL Realty Advisors Angela Lange (604) 713-6450 www.gwlrealtyadvisors.com Hathstauwk Holdings Ltd. Terra Turton (604) 272-7626 Hathstauwk.com
Haven Management Co. Ltd. Tim Sader (604) 239-0280 www.havenproperties.ca Hewett Homes Adrienne Hewett (604) 922-1934 www.hewetthomes.ca Homeland Realty Miles Chen (778) 898-8282 HomeLife Benchmark Realty Corp. Victoria Astle (604) 531-1111 homelifepropertyrentals.ca Homelife Peninsula Property Management Doug Holmes (604) 536-0220 rentinfo.ca Hugh & McKinnon Realty Ltd. Scott Higgins (604) 531-1909 www.hughmckinnon.com Hume Investments Ltd. Sally McIntosh (604) 980-9304 www.humeinvestments.com Hunter McLeod Realty Corp. Richard Anderson (604) 734-8860 www.hmrealty.bc.ca Key Property Management Lucinda Cooper (604) 900-2225 www.keypropertymanagement.ca L Bennett Consultants Lolly Bennett (604) 307-3080 Lougheed Enterprises Ltd. Andrew Statham (604) 980-0067 Macdonald Commercial R.E.S. Ltd. Tony Letvinchuk (604) 736-5611 www.macdonaldcommercial.com MacGregor Realty & Management Darin Mould (604) 505-3151 Maclab Properties Group Ltd. Tina Ding (604) 291-6878 MacPherson Real Estate Ltd. Rob MacPherson (778) 882-0211 www.cbmre.ca Macro Properties Imran Jivraj (416) 789-0858 www.macroproperties.com Mainline Living Property Management Ltd. Jaimie Howell (250) 808-2094 mainlineliving.ca Maple Leaf Property Management Apartments Melanie LeBar (604) 925-8215 Marcus & Millichap James Blair (604) 675-5268 www.marcusmillichap.com
ASSOCIATE MEMBERS/CORPOR ATE SUPPLIERS - MAINLAND Maxsave Real Estate Services Linda Stacey (250) 640-3471 www.maxsave.bc.ca Murray Hill Developments Ltd. Barry Wiedman (780) 488-0288 Oak West Realty Tom Nakatani (604) 728-8230 Oakwyn Property Management Ltd. Arlene Chiang (778) 929-0200 www.oakwynpm.com One Flat Fee Real Estate Marianne Miller (778) 878-7304 www.bcpropertyspecialist.com Picket Fence Property Management Group Cindy Hamel (604) 807-1105 www.picketfencepmg.com Porte Realty Ltd. Daniel Bar-Dayan (604) 732-7651 www.porte.ca Prospero International Realty Inc. Jeff Nightingale (604) 669-7733 Raamco International Properties Canadian Ltd. Kimm Zbierski (201) 567-5991 www.raamco.ca RE/MAX City Realty Karson Wong (778) 723-8183 RE/MAX City Realty Gibsons Andrea Kerr (604) 682-3074 www.coastrentals.ca RE/MAX Pentiction Realty Deborah Moore (250) 486-0211 Real Property Management Carla Browne (866) 317-8566 www.realpropertymgt.ca Realstar Steve Matish (416) 966-9362 www.realstar.ca Red Door Management Corp Lisa Biggin (778) 827-0377 www.reddoorpm.ca Reign Realty Andi Pham (604) 404-4888 www.reignrealty.ca Rent It Furnished Realty Vera Sal (604) 628-3457 rentitfurnished.com Rent Real Estate Services Lucy Willcox (604) 737-8865 rentrealestateservices.ca Roboson Holdings Ltd. Sarah Hill (604) 682-2088 www.rennie.com
Ronin Property Management Gary Bains (604) 908-8861 South Okanagan Property Management Ashley Lutke-Schipholt (250) 485-9935 www.southokanaganrentals.com Sunstar Realty Ltd. David Mak (604) 436-1335 www.sunrealty.ca Sutton Max Realty and Property Management Wallis Lee (604) 227-3399 www.suttonmaxrealty.com Sutton West Coast Realty 120 Joseph T-Giorgis (604) 816-2928 Tribe Management Inc. Fiona Therrien (604) 343-2601 Turner Meakin Management Company Ltd. Brian Meakin (604) 736-7020 Unique Real Estate Accommodations Inc. Nina Ferentinos (604) 984-7368 VADA Asset Management Inc. Stefanie Shimoda - Klassen (604) 416-3880 www.vadaam.com Vancouver Property Management (VPM Group) RE/MAX Farid Entezari (877) 633-7910 www.VPMGroup.ca Vancouver Rental Group Seva Roberts (604) 365-5001 www.vancouverrentalgroup.ca Wesgroup Properties Sarah Liu (604) 648-1800 www.wesgroup.ca West Kootenay Rentals Paula Owen (250) 359-5021 Wynn Real Estate Ltd. Dayton Zhao (604) 762-4200 www.wynnrealty.ca
REAL ESTATE BROKERAGE Pospischil Realty Group Marty Pospischil (604) 263-1000 www.pospischilrealty.com
REAL ESTATE SALES
CBRE Limited Lance Coulson (604) 662-5141 www. nationalapartmentgroupbc.ca Century 21 Prudential Estates (RMD) Ltd. Mike Blackall (604) 278-2121 www.century21pel.com
Goodman Commercial Inc. Mark Goodman (604) 714-4790 www.goodmanreport.com Macdonald Commercial R.E.S. Ltd. Tony Letvinchuk (604) 736-5611 www.macdonaldcommercial.com Macdonald Commercial R.E.S. Ltd. Dan Schulz (778) 999-5758 www.bcapartmentinsider.com Marcus & Millichap James Blair (604) 675-5268 www.marcusmillichap.com Multifamily Real Estate Services Corporation Seth Baker (778) 235-9293 www.multifamily.ca Pospischil Realty Group Marty Pospischil (604) 263-1000 www.pospischilrealty.com
RENOVATION & REPAIRS
BMS Plumbing & Mechanical Systems Ltd. Tamara Merchan (604) 253-9330 www.bmsmechanical.com Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca Vancouver General Contractors Emily Kosichek (604) 430-3004 vancouvergeneralcontractors.com
RENTAL MARKET INFORMATION
Multifamily Real Estate Services Corporation Seth Baker (778) 235-9293 www.multifamily.ca
RE-PIPING
BMS Plumbing & Mechanical Systems Ltd. Tamara Merchan (604) 253-9330 www.bmsmechanical.com Brighter Mechanical Mike Pearson (604) 279-0901 www.brightermechanical.com Cambridge Plumbing Systems Ltd. John Jurinak (604) 872-2561 www.cambridgeplumbing.com Manna Plumbing Ltd. Chris Kobilke (604) 710-3908 www.mannaplumbing.com
RESTORATION
FirstOnSite Restoration Ltd. Amy Barilla (236) 335-0499 www.firstonsite.ca
Phoenix Restorations Ltd. John Wallis (604) 945-5371 www.phoenixrestorations.com Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca Remdal Painting & Restoration Inc. Paul Maryschak (604) 882-5155 www.remdal.com ServiceMaster Restore of Vancouver Janak Lally (604) 435-1220 www.svmvancouver.ca
ROOFING
Bond Roofing Daniel Fajfar (604) 375-2100 www.bondroofing.ca Cambie Roofing Contractors Ltd. Paul Skujins (604) 261-1111 www.cambieroofing.com Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
ROOFING MEMBRANES
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
SECURITY & INTERCOM SYSTEMS Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com Vancouver Fire & Radius Security Joslyn Alderson (604) 232-3488 www.vanfire.com Vandelta Communication Systems Ltd. Hugh Rae (604) 732-8686 www.vandelta.com
SHREDDING & DOCUMENT DISPOSAL Super Save Disposal Inc. Danielle Johannes (604) 533-4423 www.supersave.ca
SOFTWARE - PROPERTY MANAGEMENT
ITK Consulting Inc. Conal Campbell (604) 916-4386 itk-inc.com Pendo Jodelene Weir (604) 398-4030 pen.do/partners/landlordbc Yardi Canada Ltd. Amanda Moreira (905) 671-0315 www.yardi.com
SUPPLIES - HARDWARE, BUILDING, MAINTENANCE Rona Inc. Brad LeGrow (604) 314-1366 www.rona.ca The Home Depot Canada Michael Lirangi (416) 571-8940 www.homedepot.ca/pro
TELECOMMUNICATIONS Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com
TENANT INSURANCE Duuo Insurance Devon Campbell www.duuo.ca
UTILITIES/ NATURAL GAS Absolute Energy Kirby Morrow (604) 375-2058 www.absolute-energy.ca
UTILITY SUB-METERING Enerpro Systems Corp. Andrew Davidson (604) 982-9155 www.enerprosystems.com
WASTE/ RECYCLING
Super Save Disposal Inc. Danielle Johannes (604) 533-4423 www.supersave.ca Waste Connections of Canada Inc. Rob Barr (604) 834-7578 www.WasteConnectionsCanada.com
WATERPROOFING
Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca
WINDOW - REPLACEMENT/ INSTALLATION/ RENOVATION A-1 Window Mfg Ltd. Roque Datuin (604) 777-8000 www.a1windows.ca Centra Windows Mark Estrada (604) 882-5010 www.centra.ca Prostar Contracting Co. Ltd. Jenny Ho (604) 876-3305 www.prostar.ca Retro Teck Window Mfg. Ltd. Wilfred Prevot (604) 291-6751 www.retrowindow.com
FALL 2021 | 29
THE KEY ASSOCIATE MEMBERS/CORPOR ATE SUPPLIERS - VANCOUVER ISLAND ADVERTISING & PROMOTION
Places4Students.com Laurie Snure (866) 766-0767 www.Places4Students.com
APPLIANCE - RENTALS Coinamatic Canada Inc. Jack Ursaki (800) 361-2646 www.coinamatic.com
APPLIANCE - SALES & SERVICE
Coinamatic Canada Inc. Jack Ursaki (800) 361-2646 www.coinamatic.com The Brick Commercial DivisionMidnorthernAppliance Shane Grant (604) 517-5815 www.thebrick.com WestCoast Appliance Gallery Byron Loucks (250) 382-0242 www.westcoastappliance.ca
FRESCo Building Efficiency Jordan Fisher (778) 783-0315 www.frescoltd.com Wyse Meter Solutions Inc. Peter Mills (800) 672-1134 www.wysemeter.com
ENGINEERS
FRESCo Building Efficiency Jordan Fisher (778) 783-0315 www.frescoltd.com Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
FIRE PROTECTION, MONITORING, & EQUIPMENT
BAILIFF AND COLLECTIONS SERVICES
Rushworth Electrical Services Inc. Dustin Rushworth (250) 361-1231 www.rushworthelectric.ca Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com
BUILDING ENVELOPE
Columbia Fuels Chris Mallory (877) 500-4328 www.columbiafuels.com
NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
CLEANING - CARPET & UPHOLSTERY
Island Carpet & Upholstrey Cleaning Inc. Ron Gould (250) 590-5060 www.islandcarpetcleaning.ca
COMMUNICATIONS/ ENTERTAINMENT
Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com
CREDIT REPORTING AGENCY
RentCheck Credit Bureau Brenda Maxwell (800) 661-7312 www.rentcheckcorp.com
DEPRECIATION REPORTS
Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
ELECTRICIANS
Rushworth Electrical Services Inc. Dustin Rushworth (250) 361-1231 www.rushworthelectric.ca
ENERGY EFFICIENCY & CONSERVATION
BC Hydro To learn more about energy saving opportunities go to www.bchydro.com FortisBC Energy Inc. Chris Alionis (604) 592-7985 www.fortisbc.com
HEATING FUELS
INSPECTIONS-TENANCY COMPLIANCE
Canadian Tenant Inspection Services Ltd. Anna Garnett (778) 846-9125 www.ctiservices.ca NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
INSURANCE
BFL Canada Insurance Services Inc. Stacey Wilson (778) 374-4125 www.bflrealestate.ca Megson FitzPatrick Insurance Services Mike Nichol (250) 519-2300 www.megsonfitzpatrick.com
LEGAL SERVICES
Haddock & Company Diane Bennett (604) 983-6670 www.haddock-co.ca Lesperance Mendes Lawyers Alex Chang (604) 685-1255 www.lmlaw.ca
MEDIA
MediaEdge Communications Dan Gnocato (604) 549-4521 www.mediaedge.ca
MORTGAGE FINANCING CMHC Eric Bond (604) 737-4161 www.cmhc.ca
First National Financial LP Michael Yeung (778) 887-8843 www.firstnational.ca
NARCOTICS DETECTION & SECURITY NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
PAINT SALES
Cloverdale Paint Inc. Dave Picariello (604) 596-6261 www.cloverdalepaint.com
PIPE LINING/ RE-PIPING
Victoria Drain Services Ltd. Dave Lloyd (250) 818-1609 www.victoriadrains.com
PLUMBING/HEATING/ BOILERS Columbia Fuels Chris Mallory (877) 500-4328 www.columbiafuels.com
PRIVATE INVESTIGATION AND SKIP TRACING NRM Group Ltd. Jolene Johnson (866) 593-0016 www.nrmg.ca
PROPERTY MANAGEMENT
460 Property Management Inc. Carol Buck (250) 591-4603 Advanced Property Management Inc. Lorri Fugle (250) 338-2472 www.advancedpm.ca Brown Bros. Agencies Limited Kat McMicken (250) 385-8771 www.brownbros.com CAPREIT LIMITED PARTNERSHIP Pamela Dimayuga (604) 632-9991 www.caprent.com Century 21 Queenswood Realty Ltd. Katie Markham (250) 477-1100 www.century21queenswood.ca Century Group Lands Corporation Tina Thygesen (604) 948-3832 www.centurygroup.ca Coastal Life Realty Ltd. Charmaine Harris (250) 629-9998 www.coastalliferealty.ca Colyvan Pacific Property Management Jodi Levesque (250) 754-4001 www.colyvanpacific.com Cornerstone Properties Ltd. Jason Middleton (250) 475-2005 www.cornerstoneproperties.bc.ca Countrywide Village Realty Ltd. Tracey Forest (250) 749-6660
Devon Properties Ltd. David Craig (250) 595-7000 www.devonproperties.com Duttons & Co. Real Estate Ltd. Brian Ogilvie (250) 389-1011 www.duttons.com Greenaway Realty Kirsten Greenaway (250) 216-3188 www. sookepropertymanagement.ca Lannon Creek Holdings Ltd. Dave McClimon (250) 744-0394 Meicor Realty Management Services Inc. Hillary Turple (250) 338-9979 www.meicorproperty.com Oakwood Property Management Carol Dobell (250) 704-4391 www.oakwoodproperties.ca Pemberton Holmes Property Management Claire Flewelling-Wyatt (250) 478-9141 www.thepropertymanagers.ca Proline Management Ltd. Adam Taylor (250) 475-6440 www.prolinemanagement.com Raamco International Properties Canadian Ltd. Kimm Zbierski (201) 567-5991 www.raamco.ca Rowan Property Management Ltd. Arthur Allan (250) 748-9090 www.rowanproperty.ca Royal LePage Nanaimo Realty Brenda Gilroy (250) 760-2234 www.royallepagenanaimo.ca Royal LePage Pacific Rim Realty Property Management Marilyn Koehle (250) 723-5478 Saanich Peninsula Realty Ltd. John Romashenko (250) 588-9246 Sutton Advantage Property Management Ltd. Gilbert Gutfrend (250) 881-8866 TPM Properties Debbie Hunt (250) 383-7663 Widsten Property Management Steve Widsten (250) 753-8200 www.islandrent.com
REAL ESTATE SALES
CBRE Limited Lance Coulson (604) 662-5141 www. nationalapartmentgroupbc.ca
Colliers International, Victoria Ken Cloak (250) 388-6454 www.collierscanada.com Goodman Commercial Inc. Mark Goodman (604) 714-4790 www.goodmanreport.com Macdonald Commercial R.E.S. Ltd. Tony Letvinchuk (604) 736-5611 www.macdonaldcommercial.com
ROOFING
Read Jones Christoffersen Ltd. Jason Guldin (250) 213-2520 www.rjc.ca
SECURITY & INTERCOM SYSTEMS Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com
SOFTWARE - PROPERTY MANAGEMENT ITK Consulting Inc. Conal Campbell (604) 916-4386 itk-inc.com
SOFTWARE - PROPERTY MANAGEMENT
Pendo Jodelene Weir (604) 398-4030 pen.do/partners/landlordbc Yardi Canada Ltd. Amanda Moreira (905) 671-0315 www.yardi.com
SUPPLIES - HARDWARE, BUILDING, MAINTENANCE Rona Inc. Brad LeGrow (604) 314-1366 www.rona.ca The Home Depot Canada Michael Lirangi (416) 571-8940 www.homedepot.ca/pro
TELECOMMUNICATIONS Telus Communications Sarah Ballantyne (250) 253-5395 www.telus.com
TENANT INSURANCE Duuo Insurance Devon Campbell www.duuo.ca
UTILITIES/ NATURAL GAS Absolute Energy Kirby Morrow (604) 375-2058 www.absolute-energy.ca
WASTE/ RECYCLING
Waste Connections of Canada Inc. Rob Barr (604) 834-7578 www. WasteConnectionsCanada.com
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CYNTHIA JAGGER & MARK GOODMAN METRO VANCOUVER’S MULTI-FAMILY EXPERTS
The Dalip
Garth Apartments
Mixed-use rental building
5656 Victoria Drive, Vancouver
1133 Barclay Street, Vancouver
7312 Magnolia Terrace, Burnaby
Brand new 6-storey mixed-use building in Victoria-
31-suite 3-storey plus penthouse rental apartment
15 units: 14 residential + 1 CRU. 700 metres to
Fraserview. 46 rental suites + 5,642 SF retail space.
building in the West End – substantially renovated.
Edmonds Skytrain station. 3.2% cap rate.
List $33,900,000
List $15,700,000
List $6,380,000
SOLD
SOLD
SOLD
Scotia Apartments
Apartment Portfolio
Hawthorne at Timber Court
306 East 6th Avenue, Vancouver
1156, 1176 & 1190 W. 12th Ave, Vancouver
District of North Vancouver
18-suite Mount Pleasant apartment building.
3 side-by-side buildings. 46 suites in the heart of
New purpose-built rental apartment building
12,078 SF corner lot. Close to future rapid transit.
South Granville. 31,250 SF lot.
featuring 75 suites in Lynn Valley.
List $7,600,000 Mark Goodman
Cynthia Jagger
Personal Real Estate Corporation
Personal Real Estate Corporation
Direct 604 714 4790 mark@goodmanreport.com
Direct 604 912 9018 cynthia@goodmanreport.com
Sign up to get exclusive reliable rental housing intelligence www.goodmanreport.com
Goodman Commercial Inc. Office: 604 558 5511 560–2608 Granville Street Vancouver, BC V6H 3V3