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Business Licensing for Residential Properties

April 5th 2021
Business Licensing for Residential properties

April 5, 2021

Do I need a business license if I rent out a residential rental property in the lower mainland? What if I use a rental management company? 

The answer is “yes and no”. Having a property management company has no bearing on licensing.

It all depends on the city/municipality that your rental property is in. In the city of Vancouver for example, you do need a business license. There are other municipalities that require it. Burnaby, Langley are just two.

This is not necessarily a money grab. This generates income for infrastructure of the city. We anticipate that this may eventually spread to other municipalities in the future. 

The cost for licensing varies with each municipality.

Remember that your property is also generating income for you, the property owner. The property itself generally increases in value. 

Coquitlam - Short term rental, with conditions https://www.coquitlam.ca/602/Business-Licences

This is just the most recent list. Please make sure you know what your municipality requires. 

Please note that Empty Home Tax and The Speculation Tax are different.

 

Disclaimer: Casa Rental Management is providing this information as a courtesy and is not responsible for the content or accuracy.