Strata Converting an apartment building in Penticton

tkr99

New Forum Member
Registered
We are buying an apartment building in Penticton BC.



The building is under rented .We need help using the RTB rules in getting the rents up to market rents .



Also we would like to stratify the building ,do you know of any mentors or lawyers that have success in stratifying a building ? Not just the legal side of the stratification ,but dealing with the existing tenants , building code ,and city councils.



Please advise .
 

Thomas Beyer

Senior Forum Member
REIN Member
Welcome to BC. Most buildings under rented. That’s why there’s rent controls laws in BC.

Converting then presumably selling a strata building as condos is a long, expensive and arduous process involving surveyors, lawyers, banks, city councils, BC building code, reserve fund studies, engineers .. I have done it three times. Not an easy way to make money.


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Tina Myrvang

Client Care Lead
Staff member
REIN Member
Welcome to BC. Most buildings under rented. That’s why there’s rent controls laws in BC.

Converting then presumably selling a strata building as condos is a long, expensive and arduous process involving surveyors, lawyers, banks, city councils, BC building code, reserve fund studies, engineers .. I have done it three times. Not an easy way to make money.


Sent from my iPhone using myREINspace
Thank you Thomas!!!!! Great information.
 
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