If you’re a foreign buyer looking to purchase Canadian residential real estate then you will need to put your plans on hold for at least the next two years, as the Federal Government of Canada has passed legislation prohibiting non-Canadians from purchasing residential property.  To tackle Canada’s ongoing housing unaffordability and supply crises, on June 23, 2022, the Federal Government of Canada passed the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”), and subsequently passed the Prohibition on the Purchase of Residential Property by Non-Canadians ..read more

The Canadian government is one of the most recent jurisdictions to implement a tax on vacant or underused housing in an effort to increase the housing supply. The federal Underused Housing Tax Act (the “Act”) has put into place an annual 1% tax on the value of underused “residential property”.  For British Columbians, particularly for those living in Vancouver, a tax on underused or vacant homes is already a familiar concept with the well-established B.C. Speculation and Vacancy Tax and Vancouver’s Empty Homes Tax. However, the federal Underused Housing Tax has some key differences that o ..read more

In a recent batch of initiatives to cool the overheated housing market and promote affordability, the Government of Canada and British Columbia have indicated that they will be implementing two noteworthy changes. Cooling-Off Period British Columbia may soon become the first province to have a mandatory cooling-off period for residential real estate. The cooling-off period is aimed at providing homebuyers more time to consider their offers, ensure financing, and obtain a home inspection. In the current market, many offers are being written condition free in order to be competitive. Some buyers ..read more

The introduction of the Land Owner Transparency Act (the “LOTA”) caused quite the stir in the legal and real estate industries when it was introduced by the provincial government in November 2020. By now, the Act and its various filing requirements should have reached all corners of the province (but if this is the first you are hearing of it, please click here to learn whether you need to file a transparency report with the Land Owner Transparency Registry (the “Registry”) by November 30, 2022). A crucial but seemingly overlooked component of LOTA is the filing requirements for leases. Leases ..read more

What is this I heard about some changes to land ownership in British Columbia? As part of the B.C. government’s stated plan to stop illegal money from negatively affecting market prices and housing affordability in B.C, the B.C. government introduced the Land Owner Transparency Act (the “Act”) in the hopes of uncovering beneficial, ‘hidden’ or undisclosed ownership in real estate. What do I need to know about the Act? Most persons and entities acquiring an interest in land (which is referred to as a ‘transferee’) must file a transparency declaration in connection with their ownership of land i ..read more

Senior family lawyer, Angela Thiele and corporate lawyer, Pamela Lindsay join CKNW Radio Host, Stirling Faux on a recent Morning Show. Listen to this 15 minute radio spot where the team discusses the impact of COVID-19 on family law, rent, landlords and tenancy. Angela Thiele Partner, Family Law Lindsay Kenney LLP – Vancouver Office Pamela Lindsay Associate, Business Law Lindsay Kenney LLP – Vancouver Office The post Family Law, Rent, Landlords and Tenancy – in these COVID-19 Times (audio) appeared first on LK Law ..read more

Announced today by Justin Trudeau, was a new commercial rent assistance program aimed at helping small and medium-sized business to pay rent in the face of COVID-19 restrictions. Limited specific details are available, but the government hopes to have the program up and running by mid-May which would mean that Landlords would have to make retroactive rent adjustments for April and May 2020 (if they haven’t already) and then a future rent adjustment for June 2020, to be eligible. Here is some further information: In order to qualify for relief under the Canada Emergency Commercial Rent Assista ..read more

Guidance for Commercial Tenants With COVID-19 continuing to spread, layoff numbers increasing, and world leaders unable to advise on when business will be back to normal, it is no wonder why movements such as the “Keep Your Rent Movement” are gaining popularity for tenants. Although it may be appealing to jump on the “Keep Your Rent Movement” bandwagon, tenant’s need to carefully consider the potential consequences associated with this decision, as well as spend some time considering the other options available to them. What Happens if I don’t Pay? Subject to the specific terms and conditions ..read more