Anshu Arora LLM, MSc, PMP

Did you know that an owner builder must occupy their new homethemselves for at least one

year after obtaining an occupancy permit and are not permitted to sell or rent the new home

during that one-year period.

An owner builder building under an Owner Builder Authorization (after November 19, 2007) is

required to provide an Owner Builder Disclosure Notice,obtained from the Homeowner

Protection Office(HPO), to prospective purchasers.

For more information, visit the HPO website at

https://www.hpo.bc.ca/files/download/Bulletins/BuyingOrSellingOBHomeBulletin.pdf

When a rental property is being sold, both the landlord and tenant have rights and

responsibilities under the Residential Tenancy Act (RTA).

Showing the Property

Before showing the rental unit, the landlord must have the tenant’s agreement or give the

tenant proper written notice that states the date, time and reason for entry. The tenant

must receive the notice at least 24 hours, and not more than 30 days, before the time of entry.

For more information, refer to Residential Tenancy Office

http://www.rto.gov.bc.ca/documents/RTB-125.pdf

Most homeowners want to do their own renovations. This gives them a sense of pride and accomplishment, not to mention allows them to save some money.

This is all good, as long as the homeowner got all the necessary permits. Most homeowners aren't aware of all the permit requirements, or that certain work requires not only municipal permits, but also inspections by BC Safety Authority.

For more info on municipal electrical permits and when to notify BC Safety Authority, check out this link

http://www.surrey.ca/city-services/1374.aspx

Surrey tops a list of B.C.'s best cities for Real Estate Investment for the fourth year in a row!

This is mostly due to the new Port Mann Bridge, the Golden Ears Bridge, the extra lanes on Highway 1, which are bringing communities like Langley and Chilliwack 'closer' to places of employment such as Surrey, Coquitlam, and Vancouver.

Surrey has also seen a tremendous growth in Condo and Townshouse developments; this along with low interest rates, make for an ideal combination for any investor to take advantage of the current market conditions.

If you are interested in Real Estate Investment opportunities in BC (and Canada), contact me and I will be happy to help you find the right investment property.

The Appraisal Institute of Canada has developed a guide to provide consumers with advice on how to effectively hire a professional appraiser to complete a property market value assessment. This will ensure that buyers and sellers are being provided competent service, by trained professionals.

For more information, please visit the Appraisal Institute of Canada Website at

http://www.aicanada.ca/industry-resources/consumer-guides/consumer-guide-residential/