What is the #1 Risk when Buying a Nightly Rental Property in Whistler? Getting the business license! This license application takes place once you own the property. The municipality will send an inspector to check the property against the original building plans, and any renovation plans they have on file. If there’s anything that differs between those plans and your property that’s when the headache begins. Now when there’s a delay in getting your business license it means that no revenue is being earned.

Whistler real estate market update February 2025. From personal experience, I spoke with more buyers in January than I did at the end of the last quarter. The majority were non-residents calling from the USA. The rate of exchange is a 45% discount to our American friends.

• Sales: In January there were 34 sales.
• Inventory: There were 255 listings available for sale, nearly 8 months of inventory on the books.
• New Listings: New listings soared in January by 65% over the previous month to 79 new listings.
• Market Type: We continue to be in a balanced market. Meaning, there’s no immediate power for the buyer or the seller, that happens in the negotiation.

4 types of investment property therefore 4 types of tax considerations for non-residents and residents purchasing real estate in Whistler: 1) rented nightly, 2) business income, 3) rented monthly, and 4) never rented.

Next, determine the intent of your purchase, How do you intend to use the property? How often will you use it? Do you need the property to earn revenue and if so how much? Is it an asset class you’ll purchase and never use?

GST changing the intent of use. When I speak with Buyers about GST I ask them their intent of the use of the property. So, what happens if the intent of use changes over the course of ownership? For example, the intent was to rent out the phase 1 property and generate as much revenue as possible, now the owners want to keep it for personal use. This enacts a change of use, and now GST may be due on the property. The opposite version is, the intent was to keep the property as residential and now the owners want to rent it out nightly. Once you get to $30,000 gross business revenue you must apply for a GST number. However, renting out your Kadenwood house at $5,000 a night for 7 nights that’s $35,000, is that a change of use? It can be a problem to change the intent of use even for a year.