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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

Blog by Ian Watt

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I Want To Buy A Rental But Not In A Building With Too Many Renters

Vancouver Condo Real Estate Video Blog #475 - January 22, 2010

I Want To Buy A Rental But Not In A Building With Too Many Renters

Ian Watt video blogs about how a purchaser wants to buy a rental property in a building with no rental restrictions. However, he wisely notes that he wants a building with a strong percentage of owner occupied suites and not too many rentals. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs.

Ian Watt: Hi Good Afternoon, its Ian Watt in Downtown Vancouver. I have a purchaser, we have a purchaser that wants to buy an investment property. So we wants to make sure that the property is rent-able. He wants to make sure there no restrictions on rentals. However he doesn't want to have a building that is full of rentals. Now the only way to find that out is through the form B which is the snapshot just basically a paper signed off by the property management company. To tell you to the best knowledge how many units are rented in the building and its very important to know that because when it comes up to a SGM Special General Meeting or a AGM the Annual General Meeting and they have to vote on what to spent money on usually investors don't really wanna invest in the building because they're return is not that great. However owner occupiers they want to enjoy this new upgrade and they always vote for something that cosmetically may not improved the value but improves their lifestyle. So those are two different things and I think this investor knows the difference there and he knows that being with the bunch of owner occupiers with private ownership is very important to the well being of the building. My name is Ian Watt and if you have any questions or you'd like to see what is the form B looks like. You can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great day!