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Victoria vacation rental properties
Vacation Rental Condos for Sale in Victoria BC
If you are an investor searching for a condo that specifically allows vacation rentals here in Victoria, it can be a challenging landscape to navigate. Scroll down in this article to link through to all of the buildings that are both zoned for and allow legal vacation rentals here in Victoria.
Aside from needing to comply with specific municipal zoning, which changed in 2018, 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. We've put together a list of the buildings here in Victoria that do allow for short-term vacation rentals (as of September 2019) to help make things a bit easier for you as you search for a condo to purchase.
Here are some other little known considerations that you should be aware of:
GST may well be applicable if you are purchasing a unit for the purposes of nightly rentals. It is well worth consulting your accountant regarding this and often lawyers will guide you on this. If the unit has been previously rented out for vacation or short term revenues, it is likely that the GST will apply to your purchase.
The Speculation and Vacancy Tax
Take a look at the new and 'much loved' speculation and vacancy tax, as it 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.
Short-Term, Vacation Rental Buildings List:
- 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. - The Leiser
- 534 Yates St. - The Leiser
- 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 Cityzen