By far, the biggest mistake I see real estate investors make is trying to sell their unit with a tenancy agreement still in place. Sometimes, it’s 5 or 6 months left on the tenancy. Most have no idea how much money they are leaving on the table with their final selling price.

Starting Jan 1, 2017 all owners of homes that are vacant will be subject to an empty home tax levied by Vancouver City Hall. Exactly how this tax will be enforced and how much it will cost tax payers to maintain this program is completely unknown. It’s another example of the incompetence of Vancouver City Hall and how they continue to fight Vancouver home prices by trying to curb demand via new taxes as opposed to addressing the real problem of low inventory and un-checked foreign capital.  On a side note we are now the largest city in the world that does not allow ride sharing services like Uber.  Even Edmonton had Uber! 

Going to share a few stories working from both from the buying and selling side in the Vancouver market these days, and the importance of keeping a long term view.