Читать книгу Buy & Sell Recreational Property in Canada - Geraldine Santiago - Страница 45

If you buy a condominium, you will be governed by that property’s bylaws and regulations. Before you buy, read the minutes of the condominium’s strata council meetings, and find out the rules and regulations that the strata council has established.

When purchasing a condominium, be aware that some areas, such as Whistler, BC, have “unrestricted” and “restricted” classifications for condominiums. An unrestricted unit, also known as a “Phase One” condo, is generally found in the small, lodge-type buildings in the village. There are no restrictions on owner usage, but an organized rental program is available for those times when the owner is not using the unit. An example of an organized rental program is one in which the developer, management company, strata corporation, or group of owners has hired a property management company to look after the rental of the entire condominium’s units, handling bookings, cleaning, maintenance, and so on.

A restricted unit is also known as a “Phase Two” condo. These are studio and one- and two-bedroom apartment condominiums incorporated into a resort hotel. The owner is restricted to occupying the unit for 28 days in the winter and 28 days in the summer. Benefits of buying a Phase Two condo include revenue from renting your allotted time in the unit, a potential tax shelter, and access to various hotel services and facilities during one’s stay. This type of unit is best suited for the occasional visitor to Whistler or for the investor only interested in revenue.

You should speak to a qualified agent in the area who can provide you with more details about these types of restrictions and uses.