Salt spring island rentals long term

Your accommodation will be based in North Saanich.

Is Salt Spring in the middle of a housing crisis? It all depends on who you talk to and what one defines as a crisis. If you are looking at buying a home there are about 60 homes for sale on Salt Spring at prices from k up to 6 million or so and in each price range, there is a fairly good selection of homes for sale and there really is no crisis if you have the means. Can we all agree on that? Why are there no rental homes for sale at this time? The scapegoat for the last year or so has been the short-term vacation rental homes STVR. As a point of full disclosure, I do not own and or operate an STRV but are they the real culprit to all those who post ads on the community list looking for a home to rent?

Salt spring island rentals long term

I get many people asking me about buying a rental home on Salt Spring and usually spend a lot of time answering all their questions. So in this post, I hope to cover some of the factual information. The home is ready for rent and you have found the perfect tenants and signed a lease all as per the BC tenancy law. Net profit? But did you have the k? Probably not and the idea of buying a rental property is you can buy a leveraged investment. What is the approx cost of borrowing the k? So how are you making money being a landlord on Salt Spring? The risk is that property prices do not continue to go up, maintenance cost go up, financing cost goes up, and or tenant problems or the home sits vacant and there is a shortage of tenants like there was from to until about Property prices go up and you can sell at a higher price you make what is known as capital appreciation. Please note this home will not be deemed your principal residence and any profit from the sale will be subject to capital gains tax. Please note any depreciation claimed against the home will be recaptured by CRA. I hope this helps you make your own decision about buying a Salt Spring investment home , again this is not legal advice only general information, please do talk to your accountant and or other professionals before buying a rental home.

The answer is NO.

Salt Spring Commons is designed as long-term rental housing in two- and three- bedroom townhomes, with a mix of rental formulas based on income eligibility. The first 12 rental units represent completion of Phase 1 of the project. Phase 2 occupancy of an additional 12 family units is expected for May. Born-and-raised Salt Springer Taylor Booth is one of the people who celebrated the new year with a move. Fortunately, someone told him about the Salt Spring Commons project and his partner jumped right on the application process, which took a few months to go through. Having become a successful applicant, the family now has a brand new home in a community of other families.

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Salt spring island rentals long term

To find a path forward to a more resilient, ecologically sustainable community, we published Homes for Islanders: An Integrated Housing Solutions Framework for Salt Spring Island which identifies five strategies for our addressing our immediate housing problems. Find out more here and support our work to create a community-led conversation about solutions. Although Salt Spring Island is widely known as an idyllic place to spend a weekend in a cozy cabin, a yurt in the forest, or a tiny home on an agricultural property, these and other types of accessory dwelling units ADUs are mostly prohibited as long-term residences. The well-documented benefits of ADUs as a private-sector housing solution, coupled with the common knowledge that many islanders live full-time in illegal ADUs , provides a strong case for legalizing and guiding this type of rural infill housing.

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Would you like to request a personal reference from? A showpiece property spanning over What is the upside? This accommodation is located in North Saanich. You will stay in North Saanich. Take advantage of the terrace in this house in North Saanich. We will send you an email upon signing up. This accommodation is based in North Saanich. Filters Category All Categories. Enjoy free parking with this accommodation in Cowichan Bay! Property prices go up and you can sell at a higher price you make what is known as capital appreciation.

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Facilities and services include a jacuzzi, an iron and a dish washer. What about the numbers? North Cowichan. This apartment in North Saanich is ideal for families. Your community newspaper since Fulford-Ganges Rd. Facilities and services: a fridge, a freeze and an iron. Take advantage of the Free Parking with this accommodation in North Saanich! Expand search location Edit location. This is a pet-friendly accommodation! But did you have the k?