Whistler Ski-in/Ski-out Real Estate For Sale

Do non-residents pay UHT on phase 2?

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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.

#1 Risk when buying nightly rental property?

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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.

What are the 4 types of investment real estate?

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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?

Can non-residents buy Whistler real estate?

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Yes!! There is no foreign buyer ban in Whistler, British Columbia. Non-residents are welcome to buy Whistler real estate.

The Government of Canada announced that the foreign buyer ban would extend to January 2027, and after that who knows! I’m Marion Anderson, and I help people buy real estate and Whistler.

Can a non-resident put the deed in an LLC?

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No. The LLC arrangement for business ownership is not offered in Canada. In Canada a holding company, or Holdco is a firm that exercises control over any asset class. A Holdco earns money by collecting dividends.

For Canadian mortgages in a company name the company has to be registered in British Columbia. This is a holding company and everyone who is a shareholder personally guarantees the mortgage.