Investors sound off on strata vs owner debate

CREW readers seem to have little sympathy for a group of investors restricted from renting their units.

“Anyone making an investment without appreciating the bundle of rights attached to the investment is not being duly diligent. This applies no less to purchasers of condos than to purchasers of any other investment,” one investor wrote in CREW’s comments section following a story about the Court of Appeals in Vancouver recently upholding a strata bylaw that permits only one unit to be rented at any one time within a Vancouver condo building.

In that building, a total of 158 units comprise 1445 Marpole Avenue, Hycroft Towers, in Vancouver. And of those units, only one can be rented out at a given time, despite an appeal.
The appeal was brought forth by four family member investors who, together, own three units in the building. They had previously rented out one of the three units, despite their application to do so being rejected by the strata council. That was in violation of the strata bylaws, which were upheld by the ruling.

And it seems investors believe the correct decision was made.

“They knew the bylaws, or should have, when they bought the unit(s). If they did not, or chose to ignore these bylaws, that's on them,” another CREW reader wrote. “I have zero sympathy for the owners in this case.”

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  • by jeff 2016-08-22 11:57:43 AM

    I agree there needs to be limits on a condo Corp as to units rented...the expectations of owners is that it is nice to have an owner occupied building but 1 out of 150 or so units... that seems odd... why only one..... thats what .5 % why not 5 or 10 percent.. why not something more akin to what the average of single family homes that are rented.

    That limit of 1 will make it hard on the owners when they get transferred and they need to sell when the market is off...there will be no opportunity to rent the place out for a year until a down market turns around.

    The suspicious side of me asks.. so during the development process who brought in the idea of only 1 rental and is there any connection between that individual.. the tenant...the owner of the unit.....the existing Condo board.

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