🧐 Did Our Podcast Lead to Legislation Changes? 🧐
The BC government has revised some of the new eviction notice rules for landlords that were requiring them providing four months' notice if they intend to occupy the property themselves.
The president of the Canadian Mortgage Brokers Association of BC, Rebecca Casey, said "I heard from several realtors that simply flat-out advised that any of their first-time home buyers - or any of their buyers that are coming to the table with less than 20% down - that any tenanted property was off the table for them."
The four-month period exceeded the 120-day approval limit, making it difficult for individuals purchasing properties with tenants to secure mortgage approval.
The four-month personal-use eviction rules originally went into effect on July 18th, while the exception for home purchasers will come into effect on August 21st.
Do you think our podcast had anything to do with this? 😉
This week on the Kelowna Real Estate podcast, we're joined by Ezra Cremers.
Ezra is a Licensed Property Manager & Real Estate Agent at Vantage West Realty Inc. from Kelowna, BC, who manages a portfolio of almost 300 rental properties. As a business owner for over 20 years, and managing a personal investment portfolio since 2007, Ezra gained one of a kind experiences that allow him to look at the big picture for each of his clients. His passionate approach to the specifics followed with thorough execution lets everyone he works with receive a wealth of information and positive experience. Also, as a passion project he is the owner of Kelowna City Football Club affiliated with the Vancouver Whitecaps FC.
Ezra is here to discuss:
→ How he got into property management, how he successfully manages 300 units worth of tenants and owners, and the value of a property manager and their cost.
→ Recent changes to BC tenancy laws and if they're detrimental to the rental market (Clause 13.1: Landlord use of Property), the role of the media in the negative narrative around the rental market, and the best and worst rental units to invest in Kelowna right now.
→ The increase in mutual agreements to end tenancy, how to approach raising rent with tenants, and the pros and cons of renting furnished units.
→ Founding Kelowna City Football Club and his podcast, "Ezra's House".
BONUS Topic: In the intro, Matt and Taylor are joined by former Canadian Women's National Soccer Team player Emily Zurrer to discuss "drone-gate", the controversy surrounding the current Canadian Women's National Soccer Team at the Paris Olympics.
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