Strata Age Restriction Bylaws #512

An apartment building that is brick on its lower half and white on its top half

Strata age restriction bylaws are alive and well. When providing any accommodation, service or facility customarily available to the public, the provincial Human Rights Code normally prohibits one person from discriminating against another because of the other person’s age or family status, unless there is a bona fide, reasonable justification.1 But, the Strata Property Act

BCREA Pleased With Housing Focus in Federal Budget 2019

Hands holding miniature model house

Vancouver, BC – March 20, 2019. The British Columbia Real Estate Association (BCREA) is pleased with the measures announced in Budget 2019 that will help address housing affordability in British Columbia. REALTORS® in BC recognize that home ownership is a difficult goal to achieve for many British Columbians, and the policies announced in this budget

Mortgage Stress Test Continues to Dampen Home Sales in February

BCREA logo on blue background and text below reading "Statistical Release"

For the complete news release, including detailed statistics, click here. Vancouver, BC – March 13, 2019. The British Columbia Real Estate Association (BCREA) reports that a total of 4,533 residential unit sales were recorded by the Multiple Listing Service® (MLS®) in February, a decline of 27 per cent from the same month last year. The

B-20 Stress Test Needs Revision to Improve Housing Affordability

Close up of a cheque with "How much?" written in the amount box

Vancouver, BC – March 12, 2019. The British Columbia Real Estate Association (BCREA) is calling on the federal government to revisit the B-20 stress test so that more BC families can achieve their dream of homeownership. Mortgage lending rules, known as the B-20 stress test, have eroded housing affordability by reducing the purchasing power of

Clause for Concern?

Woman explaining the details of a contract to a client

Understanding who pays the Speculation and Vacancy Tax in a transaction REALTORS® don’t have to worry about including a clause in a contract of purchase and sale that specifies that a buyer won’t be held liable for the Speculation and Vacancy Tax (SVT). Here’s why: When a buyer purchases a residential property, they will either

Meet BCREA’s Vice President of Government Relations and Stakeholder Engagement

Photo of Trevor Hargreaves

BCREA would like to give a warm welcome to our new Vice President of Government Relations and Stakeholder Engagement, Trevor Hargreaves! Trevor brings a wealth of knowledge to our Government Relations department, with wide-ranging experience in government and public relations and strategic communications, all necessary components to successful advocacy. A seasoned pro in the Government

FINTRAC Compliance? There’s an App for That!

FINTRAC app logo shown on laptop, phone and tablet screen

If you’re looking to reduce errors and omissions when it comes to completing FINTRAC individual identification and receipt of funds forms, you might want to check out the FINTRACKER™ app created by Forward Form Solutions Inc. The app is meant as a digital FINTRAC reporting solution for real estate professional to help reduce human error,

Focus on Anti-Money Laundering

Press conference with two people standing by microphone

The extent of money laundering in BC is unclear, but two provincial government reviews should help provide more information and the basis for effective action. REALTORS® definitely support efforts to keep the proceeds of crime out of the real estate market. For many years, REALTORS® have been among many professionals subject to federal anti-money laundering

BCREA’s BC Budget Highlights

Woman giving a budget presentation with graphs on a screen behind her

Budget 2019 introduced few changes for real estate, but four new developments caught BCREA’s attention: Taxation clarityWhen the budget bill receives Royal Assent clarifying changes will be made to the following statutes: Property Transfer Tax Act, Taxation (Rural Area) Act and Income Tax Act around information sharing among these statutes, and Speculation and Vacancy Tax Act to exempt

A Path to Energy Efficiency

Man installing energy efficient windows

The provincial government’s CleanBC plan has substantial impacts on homeowners through rebates and incentives, free energy coaching, new standards for building upgrades and exploring an energy rating requirement. Introduced in late 2018, the plan aims to help the province achieve its goal of cutting greenhouse gas emissions by 40 per cent by 2030. BC Budget