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Phone: 1-250-900-6836
Email: info@tomstownandcountry.ca
Latest News
Air B&B Restrictions
New rules for short-term rentals on Vancouver Island include stricter regulations aimed at addressing housing shortages and community concerns. These regulations mandate that short-term rental operators must obtain proper licenses, adhere to zoning bylaws, and limit the number of rental days per year. Additionally, increased enforcement and higher fines for non-compliance are being implemented to ensure adherence to these new rules.
Foreign Buyer Ban In Effect
The Government of Canada has implemented new legislation regarding foreign ownership of real estate. Under the Prohibition on the Purchase of Residential Property by Non-Canadians Act, non-Canadians and corporations controlled by non-Canadians are prohibited from purchasing residential property in Canada for a period of four years, commencing on January 1, 2023. These regulations will be in effect until January 1, 2027, after which the Act and its associated regulations will be repealed. For further information, refer to the Regulations published in the Canada Gazette.
Agricultural Land Reserve (ALR)
New rules for Agricultural Land Reserve (ALR) properties on Vancouver Island emphasize preserving agricultural land and promoting farming activities. These regulations restrict non-farm uses, enforce stricter subdivision controls, and require that primary residences on ALR land be used primarily for agricultural purposes. The aim is to protect the island’s agricultural land base and support local food production.