Vancouver to help homeowners become landlords in leadup to empty homes tax
Vancouver wants to make it easier for homeowners to become landlords ahead of an empty homes tax designed to put more properties on the rental market.
The city is collaborating with LandlordBC, a professional association for landlords, to offer support and information for owners looking to avoid paying the one-per-cent tax coming in 2018.
Vancouver introduced the tax last month in an effort to boost its paltry vacancy rate, which sits below one per cent, by encouraging homeowners to rent out their underused properties.
Owners will begin receiving email and mail notifications this week outlining details of the tax.
LandlordBC has also launched a website for people interested in earning rental income, with online resources including a legislative help line, proprietary forms, a credit-check platform and a schedule of educational events.
The tax will start applying starting in 2017.