Recently LandlordBC spoke of assessed values of rental buildings, which in turn could render into reduced investments in existing buildings and lead to fewer new developments being made. Representing rental property owners and managers, Chief executive of the organization David Hutniak states, another year of increased assessment values could mean higher property taxes for the owners of rental...
The term renoviction has become the coined term for any major capital improvements on purpose-built rental buildings; however, soon this will be a word only used for history. With Vancouver poised to set up regulations stipulating strict tenant relocation policies, a court decision allowing tenants to come back into their renovated suite at the previous rent, and a provincial task force recommending a halt...
It has been one year since the release of BOMA 2017 Office Standard, the dominant standard that defines how to measure and calculate the rentable area in office buildings in Canada. Today, we’ll go over the various changes made in the 2017 edition and the overall impact it has on the calculation of rentable square footage in office buildings. Quick overview: BOMA Standard for Office...
Rent controls already force Vancouver landlords to follow strict rules, but this is not enough for some tenant advocacy groups pushing a controversial policy they call “vacancy controls.” They argue the right of landlords to charge market rates when a suite becomes vacant is unfair to tenants, and that rents should be maintained at the previous rates upon new occupancy. This comes with the...
How the city of Vancouver has been masking taxes on residents for decades For years news headlines and conversational topics have largely revolved around the increased cost of living in this beautiful city. As discussed in previous papers of mine the land constraints have forced new housing starts sky high in terms of design and dollars. The impact of this has caused distress and tiresome discussions...
We have recently sold another successful business! This business sold for full price in under 6 months. What led to such a fast & successful transaction? The Seller: Sellers had prepared their business well having all their systems & processes documented. The Broker: Confidential Information Memorandum (CIM) included a comprehensive valuation and business description for...
After nearly 70 years in business, Mason Sewing Machine Company Ltd. dba as Baby Lock® Canada was looking for someone to help them sell their business. Baby Lock® trusted the services of Marion Van Keken Rietkerk, CBI MBA of NAI Commercial, to provide the full-service commercial real estate brokerage they needed for such a daunting transaction. They were looking for help to find out what their company...
The M&A market in British Columbia has been very active this in the first half of 2017 and the latest transactions reflect that. Between April and August, three businesses successfully sold to new buyers. All three businesses were different, but all three were profitable, well-prepared and motivated. 1. First is the speed with which deals are getting done. This successful Irrigation Business...
Over the past few months I’ve had more inquiries regarding industrial listings and/or properties than all other sectors combined. Not to mention my last few completed deals (a mix of sales and leasing) were all industrial type properties. Why? What is the big attraction these days to this asset class? Well, if you’re looking in and around the Greater Vancouver area, the lease rates for industrial...
What Are They & How Are They Affecting The Market? Packaged office is a concept that’s been around for decades in some form or another. The idea is simple: break up vacant space into small, short-term rentals; charge a premium on the rent; and, if you can keep it occupied, you have a business. Over the last several years Vancouver has witnessed a consolidation in this sector with Regus being the...