Under the new rules, homes that are not occupied for at least six months of the year are subject to a tax of one per cent of the property’s assessed value. The deadline to rent out empty dwellings was July 1.
Fazli said many of the people he has talked to are thinking of renting or selling their properties. He recently met with a woman who owns three empty properties in Vancouver — and says one of them is now listed for rent, another will be listed shortly and she is thinking of selling the third.
“This is a scenario of someone who is kind of in a panic now and needs to rent them out,” he said. […]
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Vancouver property owners ‘panic’ to rent as vacancy tax implemented
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