Inflation, rising interest rates create caution across Metro Vancouver’s housing market VANCOUVER, BC –…
For CTV News
A Vancouver company is trying to grow its business by offering a unique workaround for homeowners who don’t want to pay the city’s Empty Homes Tax on their unoccupied properties.
Asheya Accommodations says it will enter into long-term tenancy agreements with the owners of vacant properties then sublet the homes to renters.
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“Depending on the property, we’ll either sublet it to another tenant who’s going to actually occupy it,” said owner and operator Asheya Kassner. “If it’s a larger property with multiple rooms, we might provide individual furnished rooms for people who are looking at more of a collective housing or shared housing—more affordable option.”
By making sure a home is tenanted at least 180 days a year, the owner no longer has to pay the one-per-cent vacancy tax. Asheya also makes sure the owner is complying with the city’s short-term rental regulations by subletting the space for no less than 30 days at a time.