New Upcoming Hurdles for Landlords and what they are.

Posted on March 20, 2021 by Tom Ikonomou

Increased Hurdles Proposed for Residential Landlords – Renovations and Rent Freezes

On March 1, 2021, the provincial government announced proposed legislation that will increase the hurdles faced by landlords wishing to complete renovations in tenanted residential property.

The proposed legislation seeks to both prevent “renovictions,” and to extend the current provincial rent freeze to December 31, 2021. If passed by the B.C. provincial government, this legislation will come into effect on July 1, 2021. According to the provincial government’s press release, significant effects of the legislation will include:

1) Landlords will be required to apply to the Residential Tenancy Branch before they can terminate a tenancy agreement for the purpose of making renovations;

2) Landlords will be prohibited from ending tenancies for renovations that are not “substantial,” or that do not require the rental unit to be vacant;

3) As the Province has already extended a rent freeze during COVID-19, this legislation will permit tenants to disregard notices of rent increase taking effect between March 30, 2020 and January 1, 2022, that tenants have already received; and

4) From 2022 onward, rent increases shall be capped at the rate of inflation.

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5 Benefits of using Airbnb in Vancouver

Posted on March 17, 2021 by Tom Ikonomou

Posted in: Information for home sellers , Information for home sellers

5 Benefits of using an Airbnb in Vancouver

Airbnb has taken the short stay world by storm. Whereas in the past you had to contend with commercial outlets like hotels, motels, and lodgings, today you can easily “Airbnb” when traveling. How convenient is Airbnb? Why is a world with Airbnb so much better than a world without it?

Cost Savings

Airbnb’s cost structuring is very different from that of a hotel, says Elias Markos. A hotel, when costing its services, must factor in numerous costs. These include the cost of servicing the entire property (including empty rooms), staff costs, goods used in the hotel, licenses, taxes, food, security, and many others. An Airbnb, on the other hand, only has a handful of costs to absorb, allowing it to charge way less than a hotel. These costs savings are passed on to travelers, instead of being soaked up as extra profits as is the case with hotels and other commercial establishments.

Local Experience

Airbnb is an amazing link to the local community and culture, which to Elias Markos is a fantastic benefit. When you visit a new country, staying at an upscale hotel will tell you nothing about the locality. In most cases, such places are deliberately insulated from the local culture to offer visitors a neutral experience. If you want to immerse yourself in the local culture, he says, an Airbnb will give you just this, letting you leave with rich memories of a new place.

Extra Perks

Of late, Airbnb has been adding new services that hosts can offer guests. In some areas, you can purchase an accommodation plus city tour package from a local host. With this arrangement, you get to see a new place through the eyes of a local. Comparatively, when you visit a hotel and book a local tour, you will be taken about by a professional tour guide who is only there to show you what is on the itinerary. In this way, an Airbnb helps you experience the world in a whole new way.

Wide Standardized Selection

Airbnb has over six million places to stay worldwide. That’s a staggering number. What’s amazing about this statistic is that all six million listings are standardized listings. That is, they are all privately owned properties that offer the same experience.

Extensive Filters

When looking for an Airbnb, you can use a wide range of filters to find just the right place to stay. With filters that include location, home type, number of rooms, number of beds, amenities (kitchen, shampoo, heating), facilities (pool, gym, free parking), house rules, neighborhoods and a host of others, you can easily filter down to a few choice properties. This, is a massive benefit Airbnb has over traditional hotels.

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