Can I rent out my Whistler property nightly?

Home » Page 2

A nightly rental property is one of the 4 types of investment real estate in Whistler, BC. Whistler has restrictions on each property and development, so not all properties can be rented out nightly.

The Zoning for properties with the legal right to rent nightly is referred to as tourist accommodation zoning, and in this case, there’ll be a phase one covenant on the title. There are options to rent through an experienced rental management company, or self-manage your property.

Continue reading “Can I rent out my Whistler property nightly?”

Do non-residents pay UHT on phase 2?

Home » Page 2

Yes! Phase 2 properties can be identified by the hotel name attached to the building, for example, the Westin. These are business income properties and for non-residents, the 28 days of use still applies to avoid the 1% UHT penalty.

The benefit of a phase 2 over a phase 1 is that you can use your phase 2 for up to 56 days and then rent out the rest of the year. Whereas the owner of a phase 1 property is up to 35 days of legal usage, and then must rent it out the rest of the year, if they are renting it out at all. Now that’s 3 weeks of legal use difference.

Continue reading “Do non-residents pay UHT on phase 2?”

#1 Risk when buying nightly rental property?

Home » Page 2

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.

When there’s a delay in getting your business license it means that no revenue is being earned.

Continue reading “#1 Risk when buying nightly rental property?”

What are the 4 types of investment real estate?

Home » Page 2

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?

Continue reading “What are the 4 types of investment real estate?”