649 replies to this topic

[RustyNail]

We should assume that Vivid at the Yates will be 100% owner-occupied in the first two years after construction as per BC Housing requirements for this development.

Can anyone here explain the rules around transient housing and AirBNB for me. I've looked around and read numerous articles but its still not clear to me. 

 

My current understanding is that Transient Zoning allows you to rent out the property for short term rentals WITHOUT you the owner actually living at that property (provided that you meet all the new regulations and register the property accordingly), Is this correct? 

 

I've also been lead to believe that even if your primary residence is NOT transient zoned, you can still rent out a room on a short term basis (AirBNB), provided that the home/condo is your primary residence, you actually live there, and your strata bylaws don't prohibit it... is this also correct?

[LJ]

Well Vancouver is making it that air bnb has to be a portion of your main residence, you can not rent out an entire unit to somebody short term.

 

I would expect that to happen here as well.

[VicHockeyFan]

Can anyone here explain the rules around transient housing and AirBNB for me. I've looked around and read numerous articles but its still not clear to me. 

 

My current understanding is that Transient Zoning allows you to rent out the property for short term rentals WITHOUT you the owner actually living at that property (provided that you meet all the new regulations and register the property accordingly), Is this correct? 

 

I've also been lead to believe that even if your primary residence is NOT transient zoned, you can still rent out a room on a short term basis (AirBNB), provided that the home/condo is your primary residence, you actually live there, and your strata bylaws don't prohibit it... is this also correct?

 

You have that all correct.  Up to two bedrooms in your own home.

 

HERE > > http://www.victoria....rm-rentals.html

Edited by VicHockeyFan, 30 October 2017 - 07:41 PM.

[lanforod]

Well Vancouver is making it that air bnb has to be a portion of your main residence, you can not rent out an entire unit to somebody short term.

 

I would expect that to happen here as well.

 

Would that prohibit home swapping? See, that's something I want to try when the kiddos are older. Home swap for a month with someone in Australia or Europe.

[LJ]

Would that prohibit home swapping? See, that's something I want to try when the kiddos are older. Home swap for a month with someone in Australia or Europe.

I think that would be fine, it is a "long term rental" so should pass muster. But who would know that you were doing that, as far as I know no city officials are snooping on home swaps.

[Szeven]

We should assume that Vivid at the Yates will be 100% owner-occupied in the first two years after construction as per BC Housing requirements for this development.

So you mean the building will be 23% occupied for the first 2 years 

[RustyNail]

You have that all correct.  Up to two bedrooms in your own home.

 

HERE > > http://www.victoria....rm-rentals.html

 

Thanks! Very helpful link.

[MarkoJ]

So you mean the building will be 23% occupied for the first 2 years 

 

Will be interesting to see how a variety of different situations are handled; young couple buys together and then breaks up during the 3 year construction period, job transfer, etc.

[magmazing]

Still waiting for exact pricing, but Vivid has released some confirmed ranges for a couple of the floorplans in an email today. https://imgur.com/a/1rAUB

[Mike K.]

$524k for a 20th floor unit is such an amazing price, it really, really is.

[magmazing]

$524k for a 20th floor unit is such an amazing price, it really, really is.

The 19th/20th floor 602 sq.-ft. 1-bedroom units on the southeast and southwest facing corners are roughly 370k to 380-something from what I recall of my preview appointment. 

 

You also have to factor in it's an extra $35,000 for a parking spot for those 2-bedroom units which I'm hoping, by some miracle, a bunch of 2br buyers decline.

Edited by magmazing, 07 November 2017 - 01:47 PM.

[Mike K.]

Yeah, that’s an amazing price. It truly is.

[RustyNail]

Yeah prices are great. I'm hoping to get the cheapest of Floor Plan B1 (2 bed 2 bath, 731 sqf, floors 10 or 11 probably since floor 9 will have a terrace and be more expensive) and will likely buy a parking spot also. Have the financing in place. Just a matter of whether I got in early enough to get my pick.

-For floor plan B1 though, get a North West facing unit or a North East facing unit? Which direction is better?

-Similar Q for floor plan B5 (2 Bed, 1bath, 764 sqf): get a West South facing unit or an East South Facing unit?

-Which floor plan do you guys like better between B1 and B5?

Floor Plans B1 and B5 have nearly the same pricing.

Plans at: https://vividattheyates.com/#0

[Mike K.]

Floors 10 or 11, hey?

 

You're going to facing into The 834 (northwest) or the upcoming 1400 Quadra rental tower (northeast), so really it all depends on whether you want to have morning light or afternoon light.

 

My preference, personally, would be to choose northwest or west especially since on floors 10 or 11 you'll clear the Atrium building and have a brighter home overall.

 

Of the two options, mine would be B5 on the west side of the building.

[magmazing]

Both are the similarly priced even though B1 has two bathrooms?

 

For B1. it's interesting that the master bedroom with the private bathroom and walk-in closet only has the north facing window and the second bedroom has two windows (north/east or north/west)

 

With B5, I think it's all about how you sleep. If you're an early riser the east unit would work. If you like to sleep in, having the morning sun might get annoying. The west facing will probably get super warm in the summer with no air conditioning in the building. 

 

 

I'm aiming for one of the 624 sq. ft. 1br + den units on the 3rd to 5th floors and hoping a parking spot somehow becomes available. 

[Nparker]

...The west facing will probably get super warm in the summer with no air conditioning in the building...

A building of this size isn't going to have A/C?

[magmazing]

One night while looking at the floorplans I got bored and photoshopped a mock up what the whole 3-5th floor layout looks like in Photoshop. Took the floorplans from the website and overlayed it on the drawings from the initial proposal found at the city of Victoria website. 

 

https://imgur.com/a/vOxbp

[magmazing]

A building of this size isn't going to have A/C?

The Yates on Yates tower gets A/C. Vivid won't. Probably a cost cutting measure to make it more "affordable"

[Bingo]

The Yates on Yates tower gets A/C. Vivid won't. Probably a cost cutting measure to make it more "affordable"

That's not COOL.

[Nparker]

The Yates on Yates tower gets A/C. Vivid won't. Probably a cost cutting measure to make it more "affordable"

How much more per unit would A/C actually cost at the time of construction?