Appraiser · Victoria, British Columbia · Member since 2013 · 23 posts · 2 votes
Hello Everyone - I am a realtor, appraiser, now mortgage broker in Canada and I also own an investment property. In Canada, especially Ontario and BC many investors are leaving for more landlord friendly locations. I am an appraiser here in BC but I have found that the AMCs have made it virtually impossible to succeed financially in the field which means it cannot be a full time commitment, namely in BC where I currently live. My main goal has been to keep buying rental properties, however, so far my experience has been a very challenging one in Canada because of the tenancy laws, and interest rates. I need to continue to pursue cash flow but would very much like to be in a more remote position to spend time on the lending side because being a realtor and appraiser is limiting in a local geographic sense. Any feedback and recommendations would be welcomed.
I hear you on the challenges of BC tenancy laws! The compliance requirements (90-day rent increase notices, annual inspections, proper forms, etc.) can definitely make it harder to manage remotely.
If you're looking to stay in the BC rental market but want to be more hands-off, automating your compliance tracking could help. It takes the stress out of remembering all the RTB deadlines and requirements so you can focus on the lending side.