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.
  • 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. - 601Herald 
  • 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:
707 Courtney St 1107, Victoria

$2,175,000

707 Courtney St 1107, Victoria

3 Beds 3 Baths 1,501 SqFt Residential MLS® # 999531

RE/MAX Camosun

707 Courtney St 1405, Victoria

$1,149,000

↓ $100,000

707 Courtney St 1405, Victoria

2 Beds 2 Baths 1,203 SqFt Residential MLS® # 989985

Fair Realty

New
608 Broughton St 701, Victoria

$999,900

608 Broughton St 701, Victoria

2 Beds 2 Baths 1,273 SqFt Residential MLS® # 1003228

Pemberton Holmes Ltd.

608 Broughton St 601, Victoria

$989,000

608 Broughton St 601, Victoria

2 Beds 2 Baths 977 SqFt Residential MLS® # 992207

Pemberton Holmes Ltd.

707 Courtney St 708, Victoria

$959,900

707 Courtney St 708, Victoria

2 Beds 3 Baths 1,407 SqFt Residential MLS® # 997832

RE/MAX Camosun

708 Burdett Ave 506, Victoria

$944,900

↓ $25,000

708 Burdett Ave 506, Victoria

2 Beds 2 Baths 1,262 SqFt Residential MLS® # 989049

RE/MAX Camosun

610 Johnson St 401, Victoria

$939,000

610 Johnson St 401, Victoria

2 Beds 2 Baths 765 SqFt Residential MLS® # 996308

Macdonald Realty Victoria

New
608 Broughton St 603, Victoria

$895,000

608 Broughton St 603, Victoria

2 Beds 1 Bath 836 SqFt Residential MLS® # 1003615

Royal LePage Coast Capital - Chatterton

610 Johnson St 306, Victoria

$889,900

610 Johnson St 306, Victoria

2 Beds 2 Baths 1,125 SqFt Residential MLS® # 996660

Royal LePage Coast Capital - Oak Bay

707 Courtney St 606, Victoria

$840,000

↓ $5,000

707 Courtney St 606, Victoria

2 Beds 2 Baths 1,083 SqFt Residential MLS® # 994513

RE/MAX Generation - The Neal Estate Group

595 Pandora Ave 405, Victoria

$826,000

↑ $1,000

595 Pandora Ave 405, Victoria

2 Beds 2 Baths 950 SqFt Residential MLS® # 991301

Coldwell Banker Oceanside Real Estate

728 Yates St 1404, Victoria

$799,900

↓ $25,000

728 Yates St 1404, Victoria

2 Beds 2 Baths 871 SqFt Residential MLS® # 991291

Sotheby's International Realty Canada

707 Courtney St 1202, Victoria

$799,888

707 Courtney St 1202, Victoria

2 Beds 2 Baths 1,001 SqFt Residential MLS® # 1002069

RE/MAX Camosun

599 Pandora Ave 317, Victoria

$729,900

599 Pandora Ave 317, Victoria

1 Bed 2 Baths 790 SqFt Residential MLS® # 1001696

Keller Williams Ocean Realty VanCentral

599 Pandora Ave 321, Victoria

$699,900

599 Pandora Ave 321, Victoria

1 Bed 2 Baths 957 SqFt Residential MLS® # 996950

RE/MAX Camosun

601 Herald St 402, Victoria

$699,000

↓ $16,000

601 Herald St 402, Victoria

2 Beds 2 Baths 896 SqFt Residential MLS® # 997087

Pemberton Holmes Ltd.

456 Pandora Ave 312b, Victoria

$669,000

456 Pandora Ave 312b, Victoria

0 Beds 1 Bath 540 SqFt Residential MLS® # 1002992

Pemberton Holmes Ltd.

760 Johnson St 606, Victoria

$660,000

760 Johnson St 606, Victoria

2 Beds 1 Bath 722 SqFt Residential MLS® # 1001502

RE/MAX Generation - The Neal Estate Group

517 Fisgard St 508, Victoria

$650,000

517 Fisgard St 508, Victoria

2 Beds 2 Baths 816 SqFt Residential MLS® # 999151

The Agency

595 Pandora Ave 316, Victoria

$650,000

↓ $15,000

595 Pandora Ave 316, Victoria

2 Beds 1 Bath 803 SqFt Residential MLS® # 994936

Macdonald Realty Victoria

707 Courtney St 1003, Victoria

$649,900

↓ $30,000

707 Courtney St 1003, Victoria

1 Bed 1 Bath 795 SqFt Residential MLS® # 996674

Newport Realty Ltd.

732 Cormorant St 307, Victoria

$645,000

↓ $5,000

732 Cormorant St 307, Victoria

2 Beds 1 Bath 724 SqFt Residential MLS® # 989040

RE/MAX Camosun

1602 Quadra St 408, Victoria

$628,000

↓ $10,000

1602 Quadra St 408, Victoria

2 Beds 2 Baths 1,057 SqFt Residential MLS® # 1001292

Team 3000 Realty Ltd

760 Johnson St 503, Victoria

$624,900

760 Johnson St 503, Victoria

2 Beds 1 Bath 727 SqFt Residential MLS® # 987651

RE/MAX Camosun


Posted by Stephen Foster on

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