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Next week is critical deadline for owners of empty Vancouver homes

Last Updated Jun 23, 2017 at 10:30 pm PDT

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Summary

Landlord BC has not seen an uptick in homeowners seeking information about becoming landlords

Some believe a significant number of homeowners consider the one per cent tax a cost of doing business

VANCOUVER (NEWS1130) – People who own empty homes in Vancouver have one more week to become landlords before they’re subject to the brand new one per cent empty home tax.

But it would seem a lot of those homeowners aren’t interested in renting out their homes.

According to the lastest numbers, more than 25,000 homes were sitting empty in Vancouver in February.

David Hutniak with Landlord BC says he’s been surprised by how few of those homeowners have come to his organization looking for information.

“We did three webinars and about 30 or 40 folks registered,” he points out.

He notes just because someone took in the webinar doesn’t mean they’ve gone on to become landlords. He says some people were simply looking for information on how to avoid the tax.

Hutniak has checked in with local property managers, and they’re saying the same thing – not a huge number of people are hiring property managers to operate their homes as rentals.

He thinks some homeowners are resigned to pay the new tax.

“Probably a significant cohort of these owners has decided the tax is a cost of doing business and of acquiring these properties.”

He says homeowners might be more interested in becoming landlords once they get their tax bill next year.

February 2, 2018 is the deadline for homeowners to self declare whether their property was vacant for the 2017 tax year.