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UBC Apartments for Rent: A Comprehensive Guide for Off-Campus Housing

UBC Apartments for Rent: A Comprehensive Guide for On-Campus & Off-Campus Housing

UBC Housing provides may On-Campus housing options.

Finding the perfect off-campus housing near UBC can be daunting, especially when looking for UBC apartments for rent in Vancouver's bustling housing market. This blog is your comprehensive guide to assist you in your search, ensuring you're equipped with all the information needed to secure a comfortable living space, be wary of scams, understand your rights as a tenant, and more.

Essential Things to Consider Before You Begin Your Search

Identify Your Preferences: Understand the type of place you wish to rent, whether a single room, a shared space, or an entire apartment.

Stay Alert to Scams: With many UBC apartments for rent, it's essential to be cautious. Always validate rental listings and avoid too-good-to-be-true offers.

Know Your Rights as a Tenant: Before committing to a lease, familiarize yourself with the rights and obligations of renting in Canada. This includes understanding tenancy agreements, rights of tenants, and effective communication with landlords.

Essential Resources and Support

For Tenant's Rights, Visit the Residential Tenancy Office.

General Rental Information:The Canada Mortgage & Housing rental guide provides a wealth of knowledge.

Top Platforms to Find UBC Apartments for Rent

(Note: UBC doesn't endorse these platforms; they're provided solely as student resources.)

Facebook Groups: The UBC Roommates group is a popular community-driven option.

Online Portals:

Seeking Short-Term Accommodations?

In case you're still in the process of hunting for UBC apartments for rent or require a temporary stay between tenancy agreements, here are some options:

Suites at UBC: A convenient choice for UBC students.

Other Lodging Options: Centre for Digital Media, YWCA Hotel, APT Living, Hostel International Jericho, and Hostel International Vancouver Downtown offer short-term stays.

In conclusion, while the quest for off-campus housing and UBC apartments for rent can initially seem challenging, you can easily navigate the Vancouver housing market with the right resources and guidance. Remember to stay informed, stay safe, and happy house hunting!

Considering Buying Instead of Renting?

If you're leaning towards a more long-term housing solution near UBC, purchasing a condo might be the right choice for you. Investing in property can offer numerous benefits, including the potential for appreciation in value and freedom to personalize your living space. To explore available UBC condos for sale, visit ubchomes.ca. The website offers a comprehensive listing of condos in the vicinity of UBC, catering to various budgets and preferences. Remember, buying a home is a significant commitment and requires careful consideration; always consult with a real estate professional before making your decision.

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Luxury Living in Vancouver: Your Guide to the City's Most Prestigious Real Estate

Vancouver is one of the most sought-after cities in the world for luxury real estate, and it's easy to see why. From its stunning natural beauty to its cosmopolitan atmosphere and high standard of living, Vancouver is a prime destination for those looking for the best in luxury living.


Luxury real estate in Vancouver is defined by its prime location, exceptional quality, and high-end amenities. Homes in this category are typically located in the city's most prestigious neighbourhoods, such as West Vancouver, Point Grey, and Shaughnessy. They offer breathtaking views of the mountains, ocean, or city skyline.


According to the Institute for Luxury Home Marketing, luxury real estate is defined as properties in the top 10% of their respective markets based on price or quality. Exceptional quality, high-end amenities, prime location, and spacious floor plans typically characterize luxury homes.


The Institute's definition of luxury real estate also focuses on unique, personalized features, such as custom finishes, high-end appliances, and unique architectural design. These homes often have more extensive square footage and may include private outdoor spaces, swimming pools, and high-end home theatres.


Luxury homes in Vancouver are often custom-built with the finest materials and finishes, such as marble countertops, hardwood flooring, and high-end appliances. They also offer expansive outdoor spaces, including private gardens, decks, and balconies, allowing residents to enjoy the city's mild climate fully.


Luxury condos in Vancouver are also highly sought after, offering a convenient and luxurious urban lifestyle. These properties often feature breathtaking views, premium amenities, and convenient locations. Whether it's a high-rise building with a concierge, fitness center, or swimming pool or a smaller, more boutique development with just a few units, luxury condos in Vancouver offer residents the best urban living.


luxury condos Vancouver


In conclusion, luxury real estate in Vancouver is considered among the most desirable in the world due to its combination of stunning natural beauty, world-class amenities, and a high standard of living. If you're looking for the ultimate in luxury living, look no further than Vancouver's luxury real estate market.

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A local's guide to UBC Wesbrook Village

The University of British Columbia (UBC) is located in Vancouver, Canada. It is one of the top public universities in Canada. Located at the western tip of the Point Grey peninsula, the UBC Vancouver campus is situated on the traditional, ancestral, and unceded territory of the Musqueam people. The Wesbrook Village, named after Frank Fairchild Wesbrook, the first president of UBC, is a vibrant community that offers diverse housing options and services to students, faculties, and staff.

Amenities in Wesbrook Village

Wesbrook Village is a sustainable, mixed-use community designed to create a dynamic community for UBC residents. The village is home to more than 8,000 residents. It offers a variety of housing options, including student, faculty, and staff housing. The village also features many amenities, including a community center.

Wesbrook Village community center provides various programs, including fitness classes, child care, and events.

The village also has several parks and green spaces, which provide residents with opportunities to enjoy nature and engage in outdoor activities.

Parks in Wesbrook Village

  • Khorana Park

Khorana Park in Wesbrook Village UBC

The park commemorates Nobel Laureate Dr. Har Gobind Khorana, an Indian-born biochemist renowned for his groundbreaking work in nucleic acid biochemistry. From 1952 to 1960, he led the organic chemistry division at the B.C. Research Council, based at UBC. It was here that he initiated his Nobel Prize-winning research. Furthermore, Dr. Khorana taught biochemistry at UBC's Faculty of Medicine and was elevated to a professorship in 1959.


In 1968, his unparalleled research earned him the Nobel Prize in Medicine, particularly for his insights into the genetic code and protein synthesis. This esteemed recognition was rooted in his work at the B.C. Research Council, a fact he graciously acknowledged in his Nobel lecture, paying tribute to fellow UBC scientists. Khorana's accolades didn't end there. He later synthesized the first entirely artificial gene, further solidifying his stature in molecular biology.


Notably, while at the B.C. Research Council, he mentored Dr. Michael Smith, another luminous figure who later clinched a Nobel Prize in 1993 for his innovative strides in genetic research.


UBC recognized Dr. Khorana's immense contributions by awarding him an honorary Doctor of Science in 1977 and later establishing the Gobind Khorana Chair in Biological Chemistry in 1991. He holds the title of Professor Emeritus in Biology and Chemistry at the Massachusetts Institute of Technology.

    • Mundell Park

    • Michael Smith Park

Smith Park in Wesbrook Village UBC

The park is dedicated to the memory of Dr. Michael Smith, UBC's premier Nobel Prize laureate. Originating from England in 1932 and having an educational background in organic chemistry from the University of Manchester, Smith embarked on his UBC journey in 1956 under the mentorship of the future Nobel Prize winner, Dr. H. Gobind Khorana.


Elevating to the position of Professor of Biochemistry by 1966, Dr. Smith spearheaded the initiation of UBC's Biotechnology Lab in 1987 and later the Genome Sciences Centre in 1999, previously known as the B.C. Cancer Agency's Genome Sequence Centre. His crowning achievement came in 1993 when he was awarded the Nobel Prize in Chemistry. His innovation, termed "site-directed mutagenesis," transformed how researchers could manipulate DNA sequences, cementing its status as one of the pivotal scientific breakthroughs of the century. Today, this technique forms the backbone of various medical and biological studies worldwide, notably in cancer research and biotechnology.


Beyond his scientific prowess, Dr. Smith was a beacon of honour, collecting accolades like the Companion of the Order of Canada (1995), Order of British Columbia (1994), an induction into the Canadian Medical Hall of Fame (1995), and over 25 honorary doctorates. But what truly set him apart was his passionate involvement in social initiatives and science education. Not just an exemplary scientist, he was an ardent philanthropist, educator, and advocate, always emphasizing the pivotal role of science in daily life and generously giving back to Canada and the global community.

  • Nobel Park

One of the unique features of Wesbrook Village is its focus on sustainability. The village was designed with several sustainable features, such as green roofs, rainwater harvesting, and energy-efficient building systems. These features not only help to reduce the environmental impact of the village but also help to create a healthier community for residents.

The Wesbrook village offers an excellent opportunity for students to live in a community close to the university. The village is well connected to the rest of the UBC campus. Students can easily access their classes, libraries, and other university facilities. Moreover, the village is located near many bus routes, which makes it easy for students to get around the city.

About Wesbrook Village Businesses

Wesbrook village is home to more than 8,000 residents. It offers many services, shops, and restaurants to serve the needs of residents. Here are some of the businesses in Wesbrook Village that helps to make this place a great place to call home.

Services in Wesbrook Village


Wesbrook Village Dental Centre


Wesbrook Village also offers several personal care and beauty services. Kabro Salon, which provides a wide range of hair styling services. The village also has a nail salon that offers a wide range of nail care services and products.


Additionally, the village has a variety of retail shops that offer residents a convenient, diverse range of shopping options.


Save on Food Wesbrook Village


One of the most important businesses in Wesbrook Village is Save-On-Foods. This Canadian supermarket chain provides a wide range of products, including fresh produce, meat, and dairy.

Wesbrook Village also offers a variety of retail shops, including the Shoppers Drug Pharmacy, which provides a wide range of prescription and over-the-counter medications. The village also has a dental clinic.

Retail shops in Wesbrook Village

Another popular business in Wesbrook Village is the Doughgirls Comfort Kitchen & Bakeshop. The café serves a variety of sandwiches, pastries, and bread made with high-quality, locally sourced ingredients. The café also offers a wide range of organic and gluten-free options, making it a popular destination for health-conscious shoppers.


Wesbrook Village - Blenz coffee Aman


Blenz Coffee in Wesbrook Village is a popular coffee shop and locals' favourite hangout place. The coffee shop offers a wide variety of coffee drinks and baked goods. Residents enjoyed this cozy atmosphere for studying or socializing.

Restaurants & Food Services in Wesbrook Village


Togo Sushi Wesbrook Village


The Wesbrook Village delivers an exceptional option for students & faculties to live in a community near the university. The village is well connected to the rest of the UBC campus. Students can easily access their classes, libraries, and other university facilities. Additionally, the village is located near several bus routes, making it easy for students to get around the city.

In conclusion, UBC's Wesbrook Village delivers a unique and energetic community that provides diverse housing options to students and staff. The village was designed with a focus on sustainability. It delivers various services and amenities that help create a livable community.

Wesbrook Village Real Estate

Convinced that Wesbrook Village is the place for you? Whether you’re a first-time buyer or a seasoned investor, there is never a better place to find highly desirable real estate in Vancouver. Better yet, there is a wide range of options to suit your goals and/or lifestyle. Click the links below to look at the currently available inventory.

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204-2280 Wesbrook Mall

New Listing in UBC. Keats Hall, quality construction by Polygon. Full rain-screen. Conveniently located in the heart of UBC. Steps away from transit, Rec Centre, University Hill School, Medical School and directly across from Pharmaceutical Building. Perfect for families and investors. This south-facing 2 bedrooms/2 baths home features spacious/functional floor plan with 9' ceiling, open kitchen with s/s appliances, gas range and a good size balcony. Call 778-991-0649 for your private viewing. Click the below link to view more details.


204-2280 Wesbrook Mall, Vancouver

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424-5835 Hampton Place, Vancouver
 
Courtyard facing 1 bed suite at St. James House Pl. in UBC. This immaculate top floor unit has a 12" ceiling and large windows bringing in lots of light. Amenities include a party room, steam, sauna room, hot tub and guest suites. Ideal for family with child study at UBC, a walking distance to University Hill Secondary & Elementary School, Pacific Spirit Park, save on foods and UBC facilities. Why rent when you can own?
 
Click below link for detailed information
 
 
More Listings Photos at below link
 
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New Listing: 416 2280 WESBROOK MALL, Vancouver
 
Keats Hall in UBC built by Polygon. This spacious 1 bedroom with 9' ceilings, large balconies. Conveniently close to University Market place, University Hill Schools, recreation facilities, and buses. It is directly across from UBC Pharmaceutical science and Medical School. Top floor and facing garden. Comes with 2 parking stalls and one storage locker. Why rent when you can own?
 
Click here below link for more information.
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Virtual Tour: 203-5779 BIRNEY AVENUE, Vancouver
 
PATHWAYS: Built by Adera, the 'Green' residential community in Wesbrook Place Village. The unit features upgraded appliances, crown mouldings, dark wood baseboards, matching cabinet, gas F/P. It comes with a peaceful large patio facing the courtyard, extra large parking stall and one locker. Steps to groceries, restaurants, shops, convenient public transit, Pacific Spirit Park, community parks, beaches. Short walking distance within catchment for University Hill Secondary, Acadia Road Elementary School. Gold rated by university's Residential Environmental Assessment Program (REAP) - commit to various green building technologies and materials; water efficiency, indoor environmental quality and innovative design.Tenanted till end of April for $2500/month.

Click below link for listing details:
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Kitsilano Vancouver Townhouse Prices Chart

Most Vancouver Kitsilano Home Buyers and Sellers are not sure if it is the right time to buy or sell a Kitsilano Townhouse. Even worse, many are getting irrelevant or out of date Kitsilano housing and real estate statistics. Today, we will provide a comprehensive list of Kitsilano Vancouver Townhouse Price charts from the Real Estate Board of Greater Vancouver (REBGV). We hope these REBGV Stats can help home buyers make the right buying and selling decisions


Kitsilano Vancouver Townhouse Home Price Index (HPI) Chart



Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Yu-Nyj


 

Kitsilano Vancouver Townhouse Average Sales Price


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Yy-sZf

 

Kitsilano Vancouver Townhouse for Sale Average Listing Days on Market


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5YL-FFi

 

Kitsilano Vancouver Townhouse Average Price Per Square Foot


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5YJ-lbx


Kitsilano Vancouver Townhouse for Sale Total Inventory


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Y6-PxS

Kitsilano Vancouver Townhouse for Sale New Listings


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5YI-K0d

Kitsilano Vancouver Townhouse Sales Volume


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Yk-leg


Kitsilano Vancouver Townhouse Sales to Actives Ratio


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5YG-9j0

More Kitsilano Real Estate Price Charts

More Real Estates for Sale MLS Listings

Kitsilano

False Creek

North Vancouver

Richmond

Vancouver

Vancouver West

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Kitsilano Vancouver House Prices Chart

Most Vancouver Kitsilano Home Buyers and Sellers are not sure if it is the right time to buy or sell a Kitsilano House. Even worse, many are getting irrelevant or out of date Kitsilano housing and real estate statistics. Today, we will provide a comprehensive list of Kitsilano Vancouver House Price charts from the Real Estate Board of Greater Vancouver (REBGV). We hope these REBGV Stats can help home buyers make the right buying and selling decisions


Kitsilano Vancouver House Home Price Index (HPI) Chart



Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Pu-8GM

 

Kitsilano Vancouver House Average Sales Price


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5P8-wPD


 

Kitsilano Vancouver House for Sale Average Listing Days on Market


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Py-fGt

 

Kitsilano Vancouver House Average Price Per Square Foot


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Pr-yFZ


Kitsilano Vancouver Houses for Sale Total Inventory


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Pa-NTA

Kitsilano Vancouver Houses for Sale New Listings


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5PJ-RPF

Kitsilano Vancouver House Sales Volume


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5PW-yGQ


Kitsilano Vancouver House Sales to Actives Ratio


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5Px-kCG

More Kitsilano Real Estate Price Charts

More Real Estates for Sale MLS Listings

Kitsilano

False Creek

North Vancouver

Richmond

Vancouver

Vancouver West

Read

Kitsilano Vancouver Condo Prices Chart

Most Vancouver Kitsilano Home Buyers and Sellers are not sure if it is the right time to buy or sell a Kitsilano Condo. Even worse, many are getting irrelevant or out of date Kitsilano housing and real estate statistics. Today, we will provide a comprehensive list of Kitsilano Vancouver Condos Price charts from the Real Estate Board of Greater Vancouver (REBGV). We hope these REBGV Stats can help home buyers make the right buying and selling decisions


Kitsilano Vancouver Condos Home Price Index (HPI) Chart



Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vR-qpD

 

Kitsilano Vancouver Condos Average Sales Price


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vS-4OO


Kitsilano Vancouver Condos for Sale Average Listing Days on Market


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vA-uYM

 

Kitsilano Vancouver Condos Average Price Per Square Foot


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vy-NgS


Kitsilano Vancouver Condos for Sale Total Inventory


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vD-t5u


Kitsilano Vancouver Condos for Sale New Listings


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vJ-cqW


Kitsilano Vancouver Condos Sales Volume


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vW-Hs1


Kitsilano Vancouver Condos Sales to Actives Ratio


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O5vx-pv9

More Kitsilano Real Estate Price Charts

More Real Estates for Sale MLS Listings

Kitsilano

False Creek

North Vancouver

Richmond

Vancouver

Vancouver West

Read

UBC Vancouver House Prices Chart

Most UBC Home Buyers and Sellers are not sure if it is the right time to buy or sell a UBC House. Even worse, many are getting irrelevant or out of date UBC housing and real estate statistics. Today, we will provide a comprehensive list of UBC Vancouver House Price charts from the Real Estate Board of Greater Vancouver (REBGV). We hope these REBGV Stats can help home buyers make the right buying and selling decisions


UBC Vancouver House Home Price Index (HPI) Chart



Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Ks-isi


UBC Vancouver House Average Sales Price


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2KD-hE8


UBC Vancouver House for Sale Average Listing Days on Market


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Ka-mJY

UBC Vancouver House Average Price Per Square Foot


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Ki-q1t


UBC Vancouver Houses for Sale Total Inventory


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2K6-r2n

UBC Vancouver Houses for Sale New Listings


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Ko-xqh

UBC Vancouver House Sales Volume


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2K4-smB


UBC Vancouver House Sales to Actives Ratio


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2K9-uAf

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UBC Vancouver Townhouse Prices Chart

Most UBC Home Buyers and Sellers are not sure if it is the right time to buy or sell a UBC Townhouse. Even worse, many are getting irrelevant or out of date UBC housing and real estate statistics. Today, we will provide a comprehensive list of UBC Vancouver Townhouse Price charts from the Real Estate Board of Greater Vancouver (REBGV). We hope these REBGV Stats can help home buyers make the right buying and selling decisions


UBC Vancouver Townhouse Home Price Index (HPI) Chart



Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Kh-snb


UBC Vancouver Townhouse Average Sales Price


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2K7-Zyr


UBC Vancouver Townhouse Average Listing to Contract days


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Kl-dde

UBC Vancouver Townhouse Average Price Per Square Foot


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Kf-ZRy


UBC Vancouver Townhouses for Sale Total Inventory


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2KH-aBB


UBC Vancouver Townhouses for Sale New Listings


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2KR-sZL


UBC Vancouver Townhouse Sales Volume


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2KS-tVd


UBC Vancouver Townhouse Sales to Actives Ratio


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2KA-7Cm

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UBC Vancouver Condo Prices Chart

Most UBC Home Buyers and Sellers are not sure if it is the right time to buy or sell a UBC Condo. Even worse, many are getting irrelevant or out of date UBC housing and real estate statistics. Today, we will provide a comprehensive list of UBC Vancouver Condo Price charts from the Real Estate Board of Greater Vancouver (REBGV). We hope these REBGV Stats can help home buyers make the right buying and selling decisions


UBC Vancouver Condo Home Price Index (HPI) Chart



Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2DU-81F


UBC Vancouver Condo Average Sales Price


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Dp-xwR


UBC Vancouver Condo Average Listing to Contract days


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Do-qYw


UBC Vancouver Condo Average Price Per Square Foot


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Dv-P0W


UBC Vancouver Condos for Sale Total Inventory


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2D9-Oi8


UBC Vancouver Condos for Sale New Listings


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2Dc-lOJ


UBC Vancouver Condo Sales Volume


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2DG-MpH


UBC Vancouver Condo Sales to Actives Ratio


Click here to download PDF File: https://statscentre.rebgv.org/infoserv/s-v1/O2KB-vti

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What does Leasehold Prepaid-strata & Leasehold Prepaid-Nonstrata mean?


Is UBC on leased land? 


In 2019, 71% of detached houses, and 98% of attached Condos & Townhouses sold in UBC were Leasehold properties. What this means is that when a Buyer is looking to buy a UBC Home or invest in UBC Real Estate, he or she will mostly encounter a leasehold property.


As a UBC Realtor working in the UBC area for more than ten years, many buyers have asked me, "What is a leasehold?" I thought I would take this opportunity to explain the concept of "leasehold" in this blog.


Please note that this blog is for information only. Buyers are advised to obtain independent legal advice before buying a real estate property.


What is Title to Land?

In common law, title to land means "ownership" of land. Historically, one can prove he/she has title to land or ownership of land by producing documents or deeds. Nowadays, in BC, ownership of land is registered in the Land Title Office.


There are two main types of "ownership" of land: Leasehold and Freehold. We will delve deeper into each below.


Freehold

Freehold ownership is the most common type of ownership to land or real estate property in Canada. It is also what we ordinarily think of as ownership of real property. But what does freehold mean? According to the Real Estate Council of British Columbia's (RECBC) definition, freehold means, " ... The owner of the freehold interest has full use and control of the land and the buildings on it, subject to any rights of the Crown, local land-use bylaws, and any other restrictions in place at the time of purchase". 


Confused? Don't worry, to put it in layman's term, freehold land or property simply means the owner has full use and control. Also, the owner could own the land or property for an unlimited period of time


The two most important takeaway concepts about freehold are the idea of, full use and control and ownership for an unlimited period of time. Now let's look at the concept of leasehold and see how leasehold is different from freehold.


Leasehold


What are leaseholds? And what does leasehold mean? According to the Real Estate Council of British Columbia's (RECBC) Leasehold definition, leasehold means "... the right to use a residential property for a long, but limited, period of time. The owner of this right of use has a type of ownership called a leasehold interest."


In the simplest term, the Leasehold title property means the owner DOES NOT have full use and control, and ownership is for a LIMITED period of time.


What does it mean when the leasehold property owner does not have full use and control of the land?


The use of a leasehold property is generally spelled out in a document called the Head Lease or Ground Lease. The Ground Lease documents set out the terms and conditions for the use of the land between the lessor (owner of the land) and lessee (user of the land). One good example is that the lessee (person who owns the right to the use of the land) cannot build a building on the leasehold land without prior approval from the lessor (owner of the land).


If you like a sample copy of UBC Ground Lease, please contact me.


How long is the lease period?


Leasehold interests are usually set for 99 years. All of the UBC Condos and Townhouses are set for 99 years. Some leasehold interests have a shorter time period. For example, many False Creek Leasehold properties in Vancouver have a lease period of 64 years.


What is a Strata property or Strata Apartment or Townhouse?


BC had strata legislation since 1966. On July 1, 2000, the Strata Property Act replaced the former Condominium Act. A strata development is a way of subdividing land and buildings into parts for separate ownership with common features. In a strata development, individuals can own separate parts of the same development, but share common areas and related expenses. The part of the property that an individual owns is called the "strata lot." Informally, we often call this part of the strata a "unit." The remainder of the property is called the "common property."


Types of Leasehold


There are many different types of leasehold real estate. We'll be looking at the various types of leasehold real estate in detail.


  • Leasehold Prepaid - Non-Strata

This is non-strata, property, meaning the ownership of the property or land is not divided. The property sits on Leasehold land, and the use of land has been prepaid. Because the lease (use of the land) has been prepaid, the sale price is higher than the non-prepaid leasehold. An excellent example of this leasehold prepaid non-strata is 4114 Yuculta Crescent, Vancouver. It is a house with a prepaid lease until 2073.


  • Leasehold Not Prepaid - Non-Strata


This is non-strata property, meaning the ownership of the property or land has not been divided. The property sits on a Leasehold land, and the use of land has not been prepaid. An example of this Leasehold prepaid non-strata is 10 Sennok Crescent, Vancouver.


  • Leasehold Prepaid-Strata


This is a strata property where the lease has been prepaid. A good example of this is 307-5835 Hampton Place, Vancouver. This condo in UBC has a lease period of 99 years. It is a property with a prepaid lease until 2073. All the UBC leasehold condos and townhouses are prepaid and have 99 years lease period.


  • Leasehold Not Prepaid-Strata


This is a strata property where the lease has not been prepaid. An example of this is 47-1425 Lamey's Mill Road, Vancouver. The monthly lease is $770.61/month until 2040.


  • First nations lease


If the leasehold is on First Nation's Land, we often call it a First Nation Lease or First Name Leasehold. In the examples above, 4114 Yuculta Crescent, Vancouver, and 10 Sennok Crescent, Vancouver, are both on the Musqueam Band Reserve Land. There's a whole set of laws in BC and Canada that deals with First Nation's Land. Banks in Canada typically requires at least 50% down payment from the buyer for the purchase of a First Nations Leasehold property.


TYPES OF DWELLING


There are many types of dwelling a buyer may encounter when searching for a real estate in Vancouver. A residential dwelling can be broadly divided into two categories: detached or attached.


Detached House or Single Family home is a type of dwelling where there are no shared walls with any other residential property. The detached house has its front, rear, and side yards. The detached house is the most expensive type of dwelling in Vancouver.


Attached dwelling generally refers to a property with a common wall attached to another property. Townhouses and Apartments (or commonly referred to condos) are examples of the attached dwelling.


Thus, when you hear people talk about a "leasehold condo" or "leasehold property," it means the title to the condo or property is in the form of leasehold, and the dwelling type is a condo.


Is leasehold property common in BC?


Leasehold property is a very common type of real estate in British Columbia and Vancouver. Lessor (person or entity owning the land) can be a government entity (e.g., City of Vancouver), education institution (e.g., UBC and SFU), or private corporation.


Many condos in the Vancouver False Creek area are leasehold properties. As well, there are quite a few leasehold properties in the Vancouver West End area. Both 1251 Cardero Street and 1850 Comox Street are leasehold condos.


Why most condos & townhouses in UBC are leaseholds? 


The reason that many condos & townhouses in UBC are leaseholds is that when the University of British Columbia was established in 1908, the Provincial Government stipulated that UBC cannot sell the land that was given to them.


In 1988, UBC Properties Trust was established to develop and bring out the untapped potential of its real estate holdings. Using the leasehold development model, UBC Properties Trust was able to circumvent the law that prohibits the university from selling free title to the land. Since 1988, UBC Properties Trust has generated over $1.6 billion in revenue to the UBC Endowment Fund.


Why do all UBC leasehold properties have a 99 years lease period?


The idea of the 99-year term was only an arbitrary period beyond the life expectancy of any possible lessee or lessor.


What happens to the UBC lease after 99 years?


At the end of the 99-year term, the lessee will have to surrender the Strata lot to the lessor unless the lease is renewed.


What will happen to the value of the leasehold property when I want to sell it ten years later?


It is generally hard to predict the future value of real estate prices. I generally tell my clients that leasehold property usually depreciate in value when there are less than 25 years left on the lease term. The reason is that banks do not want to lend money to a buyer buying a leasehold property when the term of the lease is less than the term of the mortgage.


The first leasehold property was built in 1992, and this means it has 71 years left on the lease. If a buyer bought the condo that was built in 1992, and owns the condo for ten years, by the time he or she sells the condo, the condo will have 61 years of lease remaining. The value of the leasehold property will be on par with a freehold property of the same age, size, and condition.


In my experience, UBC leasehold properties maintain excellent value because of the superb location in Greater Vancouver.


What is a leasehold property? 


A leasehold property is any type of dwelling property built on leasehold land. 


Is leasehold property easy to sell?


The sale of any real estate is contingent on the price, condition, location, supply, and demand. Thus, any of the above factors will affect the saleability of real estate. If a leasehold property is not priced well and not in good condition, it will take longer to sell.


What is the resale value of a leasehold property vs. freehold property?


As mentioned earlier, real estate is contingent on the price, condition, location, supply, and demand. The resale value of a leasehold property will start to decline when the lease term remaining is less than the term of a mortgage (usually 25 years). 


Freehold vs. Leasehold


It is hard to say which one is better. When I work with a buyer looking to buy a property in UBC, I usually advise them to find a property that best suits their needs. Some buyers I have worked with could never get over the emotional hurdle of owning a leasehold property. In that case, I tell them a freehold property suits them best.


On the other hand, I have worked with buyers who value location more than leasehold properties. These are buyers who are suitable to buy leasehold properties.


Do I still need to pay property tax for a UBC Leasehold property?


UBC leasehold property owner is still required to pay property tax. The property tax in UBC is different than that of the City of Vancouver. 


Leasehold properties in UBC do not pay Vancouver property tax. UBC property owners only pay UBC Servies Levy and Rural Tax.


If I want to buy a UBC Leasehold property, can I get a mortgage from the bank?


From the bank's perspective, UBC leasehold is generally considered as solid as a freehold property. Buyers can apply for the first mortgage from major banks such as RBC, Bank of Montreal, and TD Bank. Leasehold property value starts to depreciate when the term of the lease is less than the term of the mortgage. The average mortgage term is 25 years amortization period.


I have worked with many buyers and helped them obtain mortgages for buying a home in UBC. If you need any help getting mortgage finance, we have a team of mortgage brokers who can help you.


More Homes & Real Estates for Sale MLS Listings


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About UBC Homes Property Tax

About the UNA


The University Neighbourhoods Association (UNA) acts as a municipal council for the residential areas on campus, promoting a vibrant, sociable, safe and diverse community at the University of British Columbia (UBC).


When you own or lease a property in BC, property taxes must be paid yearly. The money raised from the property taxes you pay is used to fund local programs and services. Homeowners in the UNA pay a Rural Tax to the BC Government and a Services Levy to UBC.


What is the UBC Services Levy?


The UBC Services Levy is a charge collected annually from homeowners at UBC to fund local programs and municipal-like services. The Services Levy is like the municipal portion of property taxes. It is called a levy rather than a tax because UBC is on unincorporated land and is not a municipality.


What is the UBC Services Levy used for?


Services Levy funds are collected by UBC and deposited into the Neighbours’ Fund which funds the University Neighbourhoods Association. The Neighbours’ Fund goes towards the UNA Operating Budget and Reserves.


The Operating Budget is used by the UNA to provide municipal-like services to UNA residents. The annual budget is developed by the UNA Board of Directors and approved after public consultation. Money the UNA generates is also put towards the Operating Budget.


The Neighbours’ Fund Reserves are held to meet the future needs of the community. Reserves are best practice and are required planning for the replacement of infrastructure and to guard against surprise costs.


How is my Services levy Calculated?


The Services Levy Rate equals the difference between the BC Rural Tax Rate and the City of Vancouver Residential Tax Rate. Your invoiced Services Levy amount is based on the value of your property, as determined by BC Assessment. For more information on the assessed value of your property, you can contact the BC Assessment Authority at 604-739-8588 or visit www.bcassessment.ca


When will I receive UBC Services Levy Notice?


UBC Services Levy notices are mailed out by UBC in mid-June annually. You can also access your account balance online or get more information by visiting https://finance.ubc.ca/tax-services-levy/services-levy


What is the Rural Property Tax?


If your property is not located in a city, town, district or village, it is in a rural area. UBC is unincorporated land so it is considered rural.


The BC government collects taxes on properties in rural areas to fund provincial services. The BC government also collects taxes on behalf of other organizations, such as Translink and the Greater Vancouver Regional District.


Rural tax is paid directly to the BC Government.


When will I receive Rural Property Tax if live in UBC?


Rural Property Tax notices are mailed out by the BC Government in early-June annually. You can also access your account balance online or get more information by visiting www.gov.bc.ca/ruralpropertytax


How do my taxes and services levy charges compared to residents in Vancouver?


UBC is required to ensure that the total property taxes paid by UNA homeowners is the same as the property taxes of a comparable property in the City of Vancouver. While homeowners in the UNA pay a Rural Tax to the BC government and the Services Levy to UBC, the two added together are the SAME as the City of Vancouver municipal tax for a property with the same assessed value.


I still have questions, who can I contact?


For questions on the UBC Services Levy:


UBC Department of Financial Services
T: 604-822-3596
E: levy@finance.ubc.ca
www.finance.ubc.ca/revenue/services-levy


For questions on the BC Rural tax:


Surveyor of Taxes Office
T: 604-660-2421
E: ruraltax@gov.bc.ca
www.gov.bc.ca/ruralpropertytax

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Buying Your First Home - Costs To Be Aware Of

Buying your first home is not only an exciting time, but it can also be a busy time with many deadlines and dates.  Unfortunately, there are also many hidden or unexpected costs that are part of the overall home buying experience.  As the premier real estate agent for UBC homes, I would like to offer you the following list of some of the hidden costs that you will incur as a first time home buyer.


Prepare for the Unexpected


The initial down payment of your home is not the only cost that you will incur as a first time home buyer. It is always a good idea to have a contingency fund that will cover costs such as:

  • Homeowner’s insurance – you will want to insure your new home as well as your belongings against fire, natural disasters and theft.
  • Closing costs – costs such as lender fees, lawyer transfer fees, appraisals fees.  Sometimes these fees are part of the closing cost, but make sure that you know how much each fee is and that you have the funds to cover these costs.

Before purchasing a home, make sure to hire an inspector.  Although this is another cost, it may save you considerable money in the long run.  A home inspector will be able to tell you if there is any damage to the foundation or structure of the home, rot or poor electrical wiring.  If any serious problems are found, you can either renegotiate the purchase price or walk away from the house.


Services and Hook Ups


Keep in mind that once you move in, you may have to pay for connection fees for many of the services that you will want in your home such as cable, electricity and internet.  If you are moving from the rent world your utility bills are going to be far higher.  You are responsible for heating your home now as well as paying for water and garbage pickup.


Remember:


As a homeowner, you will also be paying property taxes to your local municipality.  This cost can be broken down over the course of 12 months or paid as one lump sum. 


Look Ahead


When you are factoring the costs into your home purchase budget, do not forget to look past the initial home cost and factor in all the costs of improvements, upgrades or renovations.  If you know that your dream home will need to be landscaped, make sure that you properly budgeted for that yard work.  There is nothing worse than buying a home and hot having the funds to cover general upkeep or improvement projects.  You do not want to be house poor, so budget accordingly. 


There are many factors to keep in mind when you are buying your first home.  That is why the right real estate agent is important.  They can help you and offer advice as well as help you plan a budget so that the hidden costs of a first time home are fully understood. 


If you would like any more information on the hidden costs associated with a first time home or would like to see some of the new and exciting listings that are available in and around UBC, please call me today.  I look forward to working with you soon.

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Preparing Your UBC Home For Summer

After a long a dreary winter and spring, summer has finally arrived at UBC.  I am sure that you are ready for the season, but is your house?  To fully enjoy the summer months, it is important that your home is ready for the season.  As the premier real estate agent for UBC homes, I would like to offer the following tips on how to prepare your house for the summer.


Indoors


Check Your Air Conditioning


Nothing can ruin your summer faster than a broken air conditioner.  Ensure that your air conditioning unit is running smoothly this summer by getting it regularly serviced.  Every three months, it is suggested that you:

  • Check and replace the filters.
  • Flush out drain lines with a cup of bleach.
  • Trim and remove any vegetation around the outdoor unit to ensure that your air conditioner has room to breathe.

Rotate Ceiling Fans


Your ceiling fan may have a directional switch.  It is important that your ceiling fan runs in a counterclockwise direction so that it is pushing air down and not up.


Upgrade or change your Thermostat


If you haven’t already, think about replacing your thermostat with a “smart” version.  This type of thermostat will not only save you money on your monthly energy bills, it will also allow you far more flexibility on how you cool your home.  A “smart” thermostat will allow you to cool only certain rooms if you choose and run your air condition during the hottest times of the day.  You can also operate your thermostat from your phone giving you ultimate flexibility and control over your home’s cooling.


Outdoors


Fix Your Lawn


After a long and wet winter and spring, now is the time to reseed your lawn to fill in any bare patches.  A reseeded lawn will also make it harder for weeds to grow, which will alleviate the dreaded job of weeding. 


Here’s the deal:


When reseeding your lawn, also spread a thin layer of topsoil to protect the grass seed.  It is a good idea to irrigate for at least two weeks.


Lawnmower Maintenance


Before cutting your newly seeded lawn, make sure that your lawnmower and other yard tools are in peak working order.  To properly maintain your lawnmower, make sure to:

  • Change the oil and clean or replace the air filter.
  • Check and change the spark plug, if necessary.
  • Sharpen the mower blade and make sure that it is at the desired height.

Inspect all Downspouts


While you are outside preparing your home it is a good idea to check your downspouts and gutters for debris.  Make sure that all gutters are securely fastened to your home and seal any gaps or cracks with silicone.  While you are on your ladder, inspect your roof and replace or repair any broken or missing shingles.


By following these simple home preparation tips, you will be ready for summer in no time.  A well prepared home will free up time for you and your family to enjoy your favourite summer activities.  If you would like any more tips on how to get your home ready for the season or would like to see some of the new summer homes that are available in the UBC area, please contact me today.

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Setting a Renovation Budget

A home renovation is a great way to increase your home’s value, especially if you are thinking about taking advantage of the summer market.  However, figuring out how much a renovation should cost and staying within that budget can be a bit tricky.  As the premier real estate agent for UBC homes, I would like to share the following advice on how to set a renovation budget.

 

Estimate the Costs as a Percentage


Here’s the Deal:

 

You should spend no more in each room than the value of that room as a percentage of your overall house.  For example – A kitchen generally accounts for 10-15% of your home’s value, so if your home is valued at $200 000, you will want to spend $30 000 or less on a kitchen renovation. 

 

Another key piece of advice:

 

Kitchen renovations offer some of the lowest rates of return in terms of a renovation.  For every dollar you spend, your home’s value increases by 50 cents. 

 

The highest rate of return on a renovation – a mid-range bathroom remodel.

 

Consider Loan Options


Once you have decided what type of renovation you want to do and have come up with a rough estimate for that renovation, it is time to think about how you are going to finance your renovations. 

  • Refinancing – depending upon what your interest rates are on your mortgage, you may be able to refinance or add term to your loan lowering your monthly payments allowing you to save for the renovation. 
  • Line of credit – A line of credit may be a great way to finance your renovation, talk to your lender or bank to see what type of term and rate they are willing to provide you.
  • Home Equity Loan – this type of loan is also known as a second mortgage and allows you to borrow a percentage of your home’s assessed value.

Get Quotes


Make sure that you are very specific about what you want done in your renovation and get it written out in a contract.  Make sure to get a quote and include even the materials that are going to be used for the job.  Take your time to talk to a few different contractors and ask lots of questions, especially about the overall timeframe.  Don’t be afraid to ask for references and look at past jobs and customer satisfaction before making your final decision.

 

Stick to the Plan


Do not change the overall outlook of your renovation by adding side projects or changing your mind part way through a job.  This is the fastest way to add costs and time to any project.  Strive to stick to the original plan regardless of how tempted you may be. 

 

A renovation can breathe new life into any room and is a great way to add intrigue and interest to your home if you are thinking about selling.  By following these simple steps, you should be able to enjoy a newly renovated home without breaking the bank.  If you would like any more information about how a renovation can add value to your home or to see some of the new listings in the UBC area, please call me today. I'm Sam Huang. 778-991-0649

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Have you received your 2018 Rural Property Tax and UBC Services Levy Notice? Click here for more info.
 

UBC and BC government have sent out the annual Rural Property Tax Notices and UBC Services Levy Notices. The BC government collects taxes on properties in rural areas to fund provincial services.


If you have not received Rural Property Tax Notice and UBC Services Notice, please see below on how to pay your Property Tax online and contact information.


About Rural Property Tax


The BC government also collects taxes on behalf of other organizations, such as Translink and the Metro Vancouver Regional District. Rural Property Tax is paid directly to the BC government.


Rural Property Tax applies to residents living in the following neighbourhoods: Hampton Place, East Campus, Hawthorn Place, Chancellor Place, Wesbrook Village.


If you have not received your Rural Property Tax Notice, please see below Rural Property Tax Contact Information.


Surveyor of Taxes: +1 (250) 387-0555

Toll free: +1 (888) 355-2700

Email: ruraltax@gov.bc.ca


Rural Property Tax is due July 20, 2018


To pay your 2018 Rural Property Tax Notice online, please visit their website at


gov.bc.ca/etaxbc/logon


To apply for 2018 Rural Home Owner Grant Application online, please visit


gov.bc.ca/ruralpropertytax


About UBC Services Levy


The UBC Services Levy is a charge collected annually from homeowners at UBC to fund local programs and municipal-like services. It is called a levy rather than a tax because it is collected under the terms of your lease with UBC.


UBC Services Levy applies to residents living in the following neighbourhoods: Hampton PlaceHawthorn PlaceChancellor PlaceWesbrook Village.


The UBC service levy does not apply to properties within the jurisdiction of the UEL. Be sure to check the jurisdiction of the property in question. Click here to view a map of UEL.


UBC Services Levy is due July 18, 2018


For details, Frequently Asked Questions and on line access to your property statement showing your levy amount and payments received, go to the UBC Services Levy website at


www.finance.ubc.ca/tax-services-levy/services-levy.


You will need the access code from your statement to view your balance. Further details can also be found at the University Neighbourhoods Association website at


www.myuna.ca.


If you have questions about the Services Levy, please see below Revenue Accounting contact information:


Phone: +1 (604) 822-3596

Fax: +1 (604) 827-2668

Email: levy@finance.ubc.ca

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Budget Friendly Exterior Boosters
If you have been thinking about listing your UBC home and taking advantage of this summer’s real estate market then this is the blog for you. The fastest way to attract potential buyers and get full market value is by cleaning up and transforming the exterior of your home. As the premier real estate agent for UBC homes, I would like to offer you the following tips on how to improve the exterior of your home.

Clean Up

Perhaps the easiest and most cost-efficient method of improving house is by putting in some time and cleaning the exterior and yard. An attractive exterior begins with trimming the bushes, mowing the lawn and raking the leaves in your yard. Once you have completed these tasks, take the time to wash and scrub your driveway, walkway, your home’s exterior and the fence. Finally, make sure to wash and scrub the windows with a glass cleaner or with diluted detergent and warm water.

Paint

A freshly painted home is sure to turn heads. Not only does paint offer a protective barrier against the elements, it is also a great way to attract potential buyers. If painting your entire home is not in your budget or just seems too overwhelming, focus your attention on the trim, doors and shutters.

Shutter it

Another quick way to transform the exterior of your home and make it more appealing is by adding shutters. Shutters give the illusion of making your windows look larger and disrupts an otherwise bland wall. Make sure to choose a colour that contrasts the exterior colour of your home to make them stand out.

Change those numbers

Changing your house numbers is another quick way to create maximum exterior appeal. Replace or add bronze or chrome house numbers to give your home a more sophisticated and updated look. Other creative ways to use house numbers include:
  • Paint your address on a large planter at the foot of your entrance or at the end of your home’s walkway.
  • Add house numbers to a post near your front porch or at the end of your driveway.
  • Place numbers on your front gate or fence.

Other quick changes

Other quick budget friendly changes that can make a huge difference to your home’s exterior include:
  • Upgrade or paint your mailbox. A new design or colour may add a whole new flair to the outside of your home.
  • Add a tree, new flowers or bushes. A few strategically placed planters with trees or flowers will add to the ambiance of your front porch or walkway.
  • Hanging baskets full of lively flowers will brighten-up your patio or front walkway.
These budget friendly exterior boosters are sure to attract a wide range of clients to your home. If you would like any more tips or advice on how to transform the exterior of your home and make it more appealing to prospective buyers, please contact me today. I look forward to being a part of your sales team.
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