What Does Strata Property Mean in British Columbia?
If you are looking to buy a property in British Columbia, Canada, you might have come across the term "strata property." Strata property has become an increasingly popular form of ownership in British Columbia, offering a unique and affordable housing option for residents in a high-priced real estate market. But what is strata property, and how does it work?
What is Value? Part III: Selling a Business - Valuation
What is value? This is not an easy question to answer. “An amount, as of goods, services, or money, considered to be a fair and suitable equivalent for something else.” Seems like a reasonable definition, but begs the question “considered fair” by whom? The first thing that must be understood is that in general, value is wholly subjective. During the course of a transaction, the real skill of a business broker is to make the…
Real estate is divided into different property classifications. However, there are certain specialized assets or unique properties that exist in each class that require a category all to their own. These properties have features and amenities that make them truly special and stand apart from other real estate offerings. Creating specific marketing campaigns for unique properties is a specialized skills set. Buyers can be found in many walks of life, and anywhere in the world…
Deep Dive BC Commercial Real Estate Market: Reports, Trends, and Analysis
The BC commercial real estate market has been on the rise in recent years, and it's no surprise that many investors and developers are keeping a close eye on the market's reports, trends, and analyses. The Canadian commercial real estate market is a lucrative one, and the province of British Columbia is no exception.
Look Ahead Part II: Complexity of the Selling Process
When I am approached by owners seeking advice on selling their business, my first task is often to inject some reality into their expectations regarding the selling process. As the time nears to sell, business owners foresee the terms of sale including an all cash transaction, and anticipate a process that may take, at the most, a month or two. It is imperative that you talk to a business specialist when you are first considering…
How To Cash In Part I: Selling a Business - Introduction
I would like to posit the following situation. Imagine an immigrant couple, citizens for the past 30 or 40 years who initially arrived in Canada with little in their pockets, but holding a passionate belief in the limitless opportunities this land of ours offered. Over many years, with long hours of diligent work they have realized their dreams through a successful business that has enabled them to support a family and generate wealth. Perhaps ten,…
Should You Lease or Buy your Medical or Healthcare Space in Vancouver BC?
When it comes to setting up a medical or healthcare space, you have two options—lease or buy. But which one is the best option? In Vancouver, BC specifically, the decision can be complex and overwhelming. There are several elements that you should keep in mind such as location, tax incentives, and costs. That’s why Klein Commercial is here to help you understand the advantages and disadvantages of leasing versus buying medical or healthcare space in…
How To Prepare An Income Analysis On A Commercial Property
Probably the single most useful and simultaneously ill-used tool to determine the price of an investment is the capitalization rate (or “cap rate”). The term is often used to cover a range of price estimation techniques which seek to link value to an income stream by estimating the amount of capital an investor would be willing to part with to purchase that income stream.
Industry Insight: Mobile Homes an option during affordability crisis
‘Manufactured home communities’ come into their own in the midst of an affordability crisis KERRY GOLD. VANCOUVER SPECIAL TO THE GLOBE AND MAIL PUBLISHED JULY 8, 2022 Martin Hayter had planned to retire from London, Ont., to a new condo in Vernon, B.C., until he discovered a brand new manufactured home park 20 minutes away, on Okanagan Lake. The 60-year-old retired counselor rented out the one-bedroom condo in Vernon, which he bought two years ago.…
Deep Dive: Investors, homebuyers see value in manufactured homes
Manufactured homes in are selling quickly and for all-time high prices in Metro Vancouver and across B.C. this year but remain the most affordable detached houses on the market. The action is not being lost on investors, who snapped up 69 home parks during 2020-21, including five in the Lower Mainland. According to data from Royal LePage Westside Klein Group, most of the sales are taking place in the B.C. Interior and Vancouver Island, which…
Leasing vs Buying Commercial Real Estate Property in Vancouver
For many people who start a business, it can begin in a home office, a garage, or a general living space in the beginning. For most businesses starting out, there isn’t a need for commercial property. Soon, many businesses will outgrow the original location, and it’s time to start considering utilizing a commercial real estate property. Commercial real estate is a property exclusively used for businesses to manage their business and produce an income. It…
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