Blog posts labelled: covid-19

Coronavirus Activity Book

Posted on April 3, 2020 by BC HOME GROUP

PLEASE FIND THE LINK TO THE ACTIVITY BOOK *****HERE*****

Covid-19 & Tenanted Properties

Posted on April 1, 2020 by BC HOME GROUP

Posted in covid-19, covid-19, tenanted properties

As promised, we are providing industry related updates as the COVID-19 situation unfolds in our community.

The provincial government has just announced that they will restrict owner access to tenanted properties. This means that landlords will now need consent of the tenant to show properties (or for routine maintenance). If you have a tenanted property currently listed be aware access to the property for showings can only occur with the consent of the tenant. The prior notice provisions for access in the legislation are not enforceable for property viewings.

The government has also announced a halt to evictions. Sellers under existing contracts of purchase and sale for tenanted properties should be advised to seek legal advice concerning the enforceability of any existing Notices to End a Residential Tenancy served upon their tenants, or that are scheduled to be served upon tenants as per existing contracts of purchase and sale. Any seller of a current listing of a tenanted property should be advised to seek advice as to their ability to provide vacant possession at completion. We will have more updates for you as they are available.

These measures are temporary and are intended to keep our community safe and healthy.

From the Province:

The Province is implementing a number of additional measures to keep people housed and protect their health. The full list of immediate measures includes:

The new temporary rent supplement will provide up to $500 per month, paid directly to landlords.

Halting evictions by ensuring a landlord may not issue a new notice to end tenancy for any reason. However, in exceptional cases where it may be needed to protect health and safety or to prevent undue damage to the property, landlords will be able to apply to the Residential Tenancy Branch for a hearing.

Halting the enforcement of existing eviction notices issued by the Residential Tenancy Branch, except in extreme cases where there are safety concerns. The smaller number of court ordered evictions are up to the courts, which operate independently of government.

Freezing new annual rent increases during the state of emergency.

Preventing landlords from accessing rental units without the consent of the tenant (for example, for showings or routine maintenance), except in exceptional cases where it is needed to protect health and safety or to prevent undue damage to the unit.

Restricting methods that renters and landlords can use to serve notices to reduce the potential transmission of COVID-19 (no personal service and allowing email).

Allowing landlords to restrict the use of common areas by tenants or guests to protect against the transmission of COVID-19.

You can find the full release here .

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The Impact of Covid-19 on Realtors

Posted on March 27, 2020 by BC HOME GROUP

Posted in BC HOUSING, Covid-19, Market, Real estate

Episode 3 of Open House by BCREA focuses on the impact of COVID-19 on REALTORS®. Hear from BCREA Chief Economist Brendon Ogmundson about the new Market Intelligence Report exploring the impact of COVID-19 on the BC housing market, and Manager of Professional Services Jennifer Lynch about the changes to Realtors' day-to-day lives and business.

Listen Now

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Real Estate Clause for Covid-19 Corona Virus

Posted on March 18, 2020 by BC HOME GROUP

Posted in Corona Virus, Covid-19, Pandemic, Real Estate

Real Estate Clause for Covid-19 Corona Virus

Hi Global Family !

Hoping everyone out there is safe and secure with their families. I just wanted to share with my colleagues and web friends that are in the middle of a real estate transaction a Corona Covd-19 clause you could use as part of your contract. This was shared with me by my managing broker and I thought it would be very useful for everyone out there. If i can help support you in any way, please feel free to reach out to me. I am positive this will all pass and this is a good time for us to self reflect and appreciate our blessings as well as our families.

Kind Regards,

1-778-678-5626 Shirin Purewal.

"The parties agree and acknowledge that in the event that either the Buyer, Buyer’s lender, the Seller, or either of their respective legal counsel, the Land Title Office or other necessary government agency becomes the subject of a voluntary or mandatory COVID-19 virus quarantine or closure prior to the Completion Date that results in the Buyer’s or Seller’s inability to perform their obligations on the Completion Date, the Completion Date shall be extended to the day that is ten (10) business days following the day that the quarantine or closure order is lifted by the applicable government authority or authorities as the case may be (the “Extended Completion Date”). Provided however that if the Extended Completion Date is greater than sixty (60) business days from the original Completion Date then unless the parties otherwise agree in writing, this contract will be at an end, and neither party will have any further obligations to the other, and any deposit being held shall be forthwith released to the Buyer. In the event that the original completion date is extended pursuant to this provision the parties agree that adjustment and possession dates will be extended to the same date as the extended completion date.

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