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The Chelsea is now offering a fantastic fully renovated 1 bd corner unit. This desirable 03 unit faces a quiet tree-lined street in the West-end....
| Monday, April 26, 2010 Rental Restrictions Have Changedby Leela & Sarah on Mon, Apr, 26, 2010 04:15 PM
TIP: When purchasing property, buyers and their Realtors should always review the Rental Disclosure Statement (RSD), filed under the Real Estate Development Marketing Act. Focus on the DATE this statement was filed with the Superintendent of Real Estate. The right to rent out your unit may be effected.
Rental rules have changed as of: JANUARY 1, 2010.
PRIOR to this date, only the original owner can be guaranteed ‘no rental restrictions’ as promised by the developer. Subsequent owners may not be granted this right, if the Strata Corporation changes the building’s rental bylaws.
If the RDS was filed AFTER December 31, 2009, the number of subsequent owners is irrelevant. The ability of all subsequent owners to rent will continue, regardless of any building bylaw changes, until period set out in the RDS expires.
For more information, please feel free to contact us directly. (vancityproperty@gmail.com)
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