SHORT TERM Vacation RentalS 

Investment Properties In Victoria, BC

Investment properties can be a lucrative and rewarding way to grow your wealth and diversify your portfolio. If you're considering investing in real estate in Victoria, British Columbia, here are a few key things to keep in mind.

  1. Research the market: Before you make any investment, it's important to do your due diligence. Take the time to research the Victoria real estate market, including trends in home prices and rental rates, as well as the demand for rental properties. This will help you make an informed decision about whether investing in a property in Victoria is a good fit for your financial goals.

  2. Look for properties with good rental potential: When it comes to investment properties, the key is to find a property that will generate a good return on your investment. Look for properties that are in high demand as rentals, such as those that are located near popular attractions, public transportation, and amenities like schools and shopping centers.

  3. Consider the costs of owning a rental property: Owning a rental property comes with a number of ongoing expenses, including property taxes, insurance, and maintenance. Make sure you factor these costs into your calculations when determining the potential return on your investment.

  4. Hire a property management company: If you don't have the time or expertise to manage a rental property yourself, consider hiring a property management company. These companies can handle everything from finding tenants and collecting rent to handling maintenance and repair issues. This can help take some of the burden off of you and ensure that your investment is well-maintained.

  5. Don't forget about the tax implications: Owning a rental property can come with significant tax benefits, including the ability to write off certain expenses. However, it's important to understand the tax implications of owning a rental property and to work with a qualified tax professional to ensure you're taking advantage of all the tax benefits available to you.

Overall, investing in a rental property in Victoria can be a great way to grow your wealth and diversify your portfolio. Just be sure to do your research, understand the costs and responsibilities of owning a rental property, and consider hiring a property management company if needed.

Impacts of Bill 44 on Investment properties in Victoria BC

With the passing of Bill 44, you should be aware that Short Term Accommodation bylaws that prohibit or restrict AirBnB or VRBO type uses are still in full force and effect with fines of up to $1,000 per day. 

Aside from needing to comply with specific municipal zoning, you will need to be aware of which buildings in town allow for nightly/short term rentals and which are legally zoned to allow for this type of revenue generation.   If you are an Investor searching for a Condo that specifically allows Vacation Rentals here in Victoria, BC it can be a challenging landscape to navigate.


 
TAX IMPLICATIONS:

GST

GST may well be applicable if you are purchasing a unit for the purposes of nightly rentals. If the unit has previously been rented out for a vacation or short term revenues, it is likely that the GST will apply to your purchase.

It is well worth consulting your Accountant and Lawyer for guidance regarding this.  Please let us know if you would like us to refer you to a professional we recommend to help you with this process. 

British Columbia Speculation and Vacancy Tax

Speculation and Vacancy Tax will likely apply to your Vacation Rental unless you are planning to rent it out for durations of over 30 days for 6 months or more in a calendar year. 

VACATION RENTAL BUILDINGS IN VICTORIA, BC

We've put together a list of the buildings here in Victoria that do allow for Short-Term Vacation Rentals. The properties below are all designated buildings that are zoned for Transient Accommodation, AirBnB's and Vacation Rentals.

  • 728 Yates St.  - The ERA 
  • 608 Broughton St. - The Sovereign
  • 708 Burdett Ave.& 707 Courtney St. - The Falls
  • 610 Johnson St. - The Monaco
  • 760 Johnson St. - The Juliet 
  • 524 Yates St. - Simon Leiser Warehouse
  • 534 Yates St. - Simon Leiser Warehouse
  • 562 Yates St.  - The Oriental
  • 535 Fisgard St. - Lum Sam & Lee Cheong
  • 517 Fisgard St. - The Union
  • 456 Pandora Ave. - The Janion
  • 599 Pandora Ave. - The Vogue
  • 534 Pandora Ave. - Lum Sam & Lee Cheong
  • 528 Pandora Ave.  - The Union
  • 595 Pandora Ave. - 595 Pandora 
  • 1610 Store St. - The Janion
  • 409 Swift St. - The Mermaid Wharf
  • 601 Herald St. - 601 Herald 
  • 613 Herald St. - The Citizen
  • 751 Fairfield Rd. - The Astoria
  • 1602 Quadra - Palladian
  • 770 Fisgard - Hudson-30 day minimum
  • 732 Comorant - Corazon
  • 707 Courtney - The Falls

    *Please contact us at any time you would like further info or help with your search.

Victoria vacation rental properties

Sort by:
New
708 Burdett Ave 1105, Victoria

$1,450,000

708 Burdett Ave 1105, Victoria

2 Beds 3 Baths 1,453 SqFt Residential MLS® # 933157

RE/MAX Camosun

610 Johnson St 401, Victoria

$1,149,900

↓ $49,100

610 Johnson St 401, Victoria

2 Beds 2 Baths 800 SqFt Residential MLS® # 931170

Macdonald Realty Victoria

608 Broughton St 803, Victoria

$985,000

608 Broughton St 803, Victoria

2 Beds 1 Bath 812 SqFt Residential MLS® # 930254

Pemberton Holmes - Cloverdale

599 Pandora Ave 321, Victoria

$895,000

599 Pandora Ave 321, Victoria

1 Bed 2 Baths 1,030 SqFt Residential MLS® # 931625

Newport Realty Ltd.

New
708 Burdett Ave 402, Victoria

$849,000

708 Burdett Ave 402, Victoria

2 Beds 2 Baths 968 SqFt Residential MLS® # 932335

Royal LePage Coast Capital - Oak Bay

707 Courtney St 305, Victoria

$800,000

707 Courtney St 305, Victoria

1 Bed 1 Bath 882 SqFt Residential MLS® # 929740

Sotheby's International Realty Canada

728 Yates St 309, Victoria

$699,900

728 Yates St 309, Victoria

2 Beds 2 Baths 742 SqFt Residential MLS® # 931606

Sotheby's International Realty Canada

535 Fisgard St 206, Victoria

$659,995

535 Fisgard St 206, Victoria

1 Bed 1 Bath 489 SqFt Residential MLS® # 928215

Pemberton Holmes - Cloverdale

595 Pandora Ave 210, Victoria

$599,000

↓ $16,000

595 Pandora Ave 210, Victoria

1 Bed 1 Bath 501 SqFt Residential MLS® # 930716

eXp Realty

760 Johnson St 703, Victoria

$575,000

↓ $11,000

760 Johnson St 703, Victoria

1 Bed 1 Bath 635 SqFt Residential MLS® # 928730

Royal LePage Coast Capital - Oak Bay

New
728 Yates St 1112, Victoria

$530,000

728 Yates St 1112, Victoria

1 Bed 1 Bath 504 SqFt Residential MLS® # 932253

RE/MAX Camosun

613 Herald St 201, Victoria

$519,900

613 Herald St 201, Victoria

1 Bed 1 Bath 517 SqFt Residential MLS® # 926947

Newport Realty Ltd.

613 Herald St 301, Victoria

$519,900

↓ $10,000

613 Herald St 301, Victoria

1 Bed 1 Bath 517 SqFt Residential MLS® # 923110

Royal LePage Coast Capital - Oak Bay

562 Yates St 312, Victoria

$519,000

562 Yates St 312, Victoria

0 Beds 1 Bath 493 SqFt Residential MLS® # 931033

Engel & Volkers Vancouver Island

456 Pandora Ave M08, Victoria

$410,000

↓ $9,900

456 Pandora Ave M08, Victoria

0 Beds 1 Bath 296 SqFt Residential MLS® # 927670

Macdonald Realty Victoria

New
456 Pandora Ave M02, Victoria

$399,000

456 Pandora Ave M02, Victoria

0 Beds 1 Bath 284 SqFt Residential MLS® # 932707

RE/MAX Camosun

1610 Store St 222, Victoria

$395,000

↓ $15,000

1610 Store St 222, Victoria

0 Beds 1 Bath 247 SqFt Residential MLS® # 931361

Engel & Volkers Vancouver Island


Posted by Stephen Foster on

Tags

Email Send a link to post via Email

Leave A Comment

e.g. yourwebsitename.com
Please note that your email address is kept private upon posting.