Sebastian Albrecht, Vancouver realtor,discusses the impacts of implementing rental restrictions on Vancouver condos in this video blog. Rental restrictions are detrimental to a building because they restrict the freedom of the owner. If you choose to travel for three months, you will not be able to rent your home out at the last moment. 25% – 50% of buyers are investors in Vancouver. By limiting rentals you are removing this potential pool of buyers from the market. This results in lower values as well as less liquidity for your investment (fewer potential buyers means it will take longer to sell).
Please share your opinion on this, or any other Vancouver real estate topic by contacting Sebastian at sebastian@sebastianalbrecht.com. Sebastian Albrecht video blogs regularly about Vancouver real estate. You can find all of his Vancouver real estate video blogs here.
Copyright © 2010 Vancouver real estate in the Vancouver Realtor Blog bySebastian Albrecht, Vancouver Realtor with Royal LePage Vancouver ”Why Vancouver Condo Rental Restrictions Are Bad”
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{ 2 comments… read them below or add one }
Sebastian, I think you are right on the money with this one. I’m so pleased that I bought into a building with no restrictions (The Space).
Thanks, Tanya. I think that it’s important to consider why NOT having rental restrictions can be a good thing for resident owners.
Plus, I’m glad to hear that you are happy with your new place!