Luxury Suites

Nicholas Meyer and Lisa Taylor discuss the fees and services for luxury suite management.

Tenanted Suites

Many owners of investment property may be unaware of the ins and outs of the new BC Residential Tenancy Act, which has been recently updated. If your suite is currently rented to a tenant, this information should help you understand the tenant rights written into the current legislation.

The new rules for residential tenancy apply to the many suites here in Vancouver that are held as investments and currently occupied by tenants. When owners wish to sell the suite, they find that tenants are not simply expendable, to be evicted upon sale of the suite.

Here in BC, tenants have many rights, upheld by law. It may come as a surprise to owners to discover that when tenants are in a lease situation, that lease takes precendence over the sale. Unlike other countries, an owner here cannot evict a tenant for the purposes of selling. In fact, it is only if the new owner wishes to live in the suite that a tenant may be evicted. This new owner is referred to as an “owner-occupier”.

This is important legislation. At Downtown Suites, we help the owners understand the ramifications of this legislation when they decide to sell their investment property.

(This is an important Evergreen Resource article, revisited from our archives.)

Responsibility for Maintenance

In this video, Nicholas Meyer of Downtown Suites in Vancouver goes over the responsibilities for suite maintenance – for both owners and tenants.

Terminus- Sleek and Sexy Design

      Adaptive Integration of Historic Elements into Modern High Style

212 – 36 Water Street

    Monthly Rent: $1600 1 Bedroom, 1 Bathroom, 700 sq. ft

Killer design sets the bar at an all time high for urban habitats.
Brand new heritage conversion building by Salient Group is a unique blend of old and new. This building features a historical brick facade and sleek modern cosmopolitan loft interiors make this living space very unique.
Excellent finishings include strand style maple hardwood flooring, solid maple cabinetry, European appliances, stone tiling, and built in space saving cabinetry.
Great use of space and lighting makes this modern and stylish suite perfect for individuals with a taste for modern styling and functionality.

This linear style suite features:
* Fully Panelled Kitchens=Sleek, Custom Very Sexy
* Boshe Oven and glass
* Built in Liebeherr refrigerator
* Front loading energy efficient washer and dryer
* Built in storage in the bedroom area and throughout suite
* Philippe Starck linear bathroom, frosted glass separate tub/sink and toilet- sliding glass doors
* Strand Maple hardwood flooring,
* Geothermal heating & air conditioning.
* Fabulous roof top deck with BBQ & outside eating area
* Lighting is an integral part of the design.
* Includes one parking stall
* Bike room

Downtown Suites Ltd.

Views in the Heart of the City

1006-822 Seymour
Monthly Rent: $1700 2 Bedrooms, 2 Bathrooms, 800 sq. ft.

The apartment is located in the heart of the city on Robson and Seymour Street. Close to business district, restaurants, shopping, transit and grocery stores. You are within walking distance to the Vancouver Public Library, cinemas and theatres.

* This is a 2 bedroom, 2 bathroom and den corner apartment
* Northeast facing with city and mountain view
* Exotic 2-layer bamboo flooring in living area
* Electric fireplace with natural wood mantle
* Kitchen has stainless steel appliances including a gas stove and built in microwave/hoodfan, granite slab countertops and mosaic glass tile backsplashes
* Bathrooms have polished Italian marble countertops and ceramic tile floors
* In-suite laundry
* Totally wired for internet and security
* In-suite TV monitored entry system
* Secured underground parking for 1 vehicle and bike storage
* Building amenities include a fitness centre, a meeting/social room, and landscaped gardens
* No Smoking
* Sorry No Pets

For additional information on this suite please contact:
Downtown Suites Ltd.

More than Just Collecting the Rent

Tenant screening is the first step in good property management. We thought this recent article was worth repeating.

It seems a building water leak caused a contactor to need to get into several strata lots to mop up the leak. When he went to one unit, the door wasn’t answered, so a locksmith was called. When the contractor stepped inside, he found that the unit had been converted to a fully equipped meth lab!

Police and fire departments arrived, the building had to be evacuated, the HAZMAT team dismantled the lab, and the city advised that the entire strata lot had to be deconstructed and rebuilt. The lot could no longer be occupied, and the owner would be facing a cost est. of $100,000 for a rebuild. Not to mention fines from the strata corporation and other legal consequences. The non-resident owner was shocked. He knew little about his tenant, other than that he paid cash for rent and security deposit.

This cautionary tale reinforces the reality that non-resident owners need to do more than simply collect monthly rent.

At Downtown Suites we handle all aspects of non-resident rental and keep informed on all regulations and updates. For example, there was a very significant court case (Supreme Court of BC) involving insurance claims, which was summarized as follows; “If an occupant of a strata lot is responsible for the cause of an incident and the insurance of the strata corporation has a deductible, the owner is responsible for paying the deductible.” This would mean the non-resident owner, if the tenant is responsible.

Our services involve the screening of tenants, including background credit checks, and we have many balances in place to ensure the good maintenance of your investment.