So you have a home with a rentable suite, and you're finally ready to take the necessary steps to becoming a landlord. Congratulations! As you might have guessed, there are certain precautions you must take when renting out a suite in your home, and the task should be taken seriously to ensure everything runs smoothly. Renting out a part of your home, however, can have great financial benefits.

RTA: Familiarize Yourself With the Rules

When it comes to just about anything in life, knowledge is king; becoming a landlord in Vancouver is no exception to the rule. Before you start looking for a tenant or preparing your suite to be rented, take the time to familiarize yourself with the Residential Tenancy Act. This is the law in British Columbia that…

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In a hot real estate market like Vancouver, it isn't too far of a reach to expect to be in a multiple offer situation at some point. These situations, which are also referred to as "bidding wars," require the buyer to compete for the home with other potential buyers. Though this often takes the bidding power away from the buyer and gives it to the seller, there are still plenty of tactics the buyer can use to increase their chances of winning the war. If you’re in a bidding war for your next home, try using some of these strategies to edge out your competition.

The Deposit Bump: Increase the Amount You’re Willing to Part With

Though there isn't a specific standard for deposit amounts, there certainly is an expected minimum when it comes to your…

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Many people allow their emotions to drive their purchases and some of these emotionally-driven purchases may lead to financial strain or the wrong investment choice. When it comes to purchasing large items or making investments for the future, it is very important to not be emotionally involved. If you cannot seem to leave your emotions behind by using the tips below, you might want to let another person whom you trust do the buying for you. If you are buying a home in Vancouver and tend to get emotional over major life changes and purchases, there are a few ways you can avoid getting overly attached or emotional when doing so.

 
                     

Make Sure You Have Support

 A solid support system consisting of family members and close friends…

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The data relating to real estate on this web site comes in part from the MLS® Reciprocity program of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board. Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of the Real Estate Board of Greater Vancouver or the Fraser Valley Real Estate Board.

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Listing information last updated on October 20th, 2021 at 9:15pm PDT.