Real estate law: Landlords renting rooms in mansions to students

On Behalf of Porter Ramsay LLP | Apr, 24, 2019 | Real Estate Law

Vancouver mansions are being rented out to students for what amounts to a paltry pittance. There is nothing in real estate law that says anyone has to charge a certain rate for rentals, and rooms in some of British Columbia’s most luxurious homes are being rented to students. But when the upwards of $1,100 for each room is added up, landlords aren’t doing too badly. Students, however, aren’t complaining. Landlords are renting these rooms in vacant homes to avoid paying the new tax which is slapped on an owner for a home that sits vacant. Chinese investors are pulling out... View Article

Bank CEO says real estate market not as bleak as some believe

On Behalf of Porter Ramsay LLP | Apr, 09, 2019 | Real Estate Law

One of the nation’s leading lending institutions says the housing market is not in as rough shape as many people believe it to be. BMO’s CEO said the bank has seen continual growth in British Columbia as well as in other provinces, territories and even Stateside, where it’s expanding its footprint. When it comes to real estate, the bank has seen healthy growth in people seeking mortgages, despite the naysayers who believe market activity is declining. Bankers, the CEO added, don’t believe a recession is imminent since inflation has been on the modest side. He also lauded the federal government for giving the real... View Article