Suites

We help you rent your property. At Downtown Suites we are always looking for new inventory, as seen in this video with Nicholas Meyer.

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Nicholas Meyer and Lisa Taylor discuss high end rental suites in Vancouver BC, June 2009.

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Councillor Suzanne Anton sent out this info in her recent newsletter, with links to download PDFs of the proposals from the City of Vancouver. We thought we’d share these with you here.

Bigger basements, suites within suites, and laneway housing:  EcoDensity is making an impact

• EcoDensity Action item C-6:  More Options for Rental Secondary Suites (basements):

Those of you with tiny crawl space basements will appreciate that the city has been needing to change the zoning around basement space for some time now.  Well, coming from the EcoDensity initiative, this has now been accomplished.   In return for a slightly smaller area above ground, the basement can be significantly bigger and higher out of the ground in new homes.  Renovations to existing homes can accommodate bigger basements, with some qualifications.  If you are thinking basements, have a look here: PDF Download

• EcoDensity Action item C-6:  More Options for Rental Secondary Suites (suites within suites):

You may have been hearing about the tiny suites. This proposal, for public hearing in July, would allow all townhouses and condos to be built with a lockable separate suite within the main unit.  Mortgage helper for new condo owners, baby’s bedroom later on. Have a look here: PDF Download

• EcoDensity Action item C-5:  Laneway housing:

And the famous laneway housing proposal (your garage could be a home for a person instead of a car) is also coming up for public hearing in July.  One of the big decision points is (a) 2 parking spaces, 1.5 stories or (b) 1 space, 1 story.

Public hearing is coming up – send in your comments to mayorandcouncil@vancouver.ca.

And for inspiration, be sure to check out Smallworks, the Vancouver design-build company that developed the prototype laneway house shown at the BC Home Show February 09.

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We have experienced several tenant issues with mold, currently one of the most litigious situations that the landlord can face.  At Downtown Suites, we take mold very seriously and deal with it as promptly and efficiently as we can with recognized mold professionals.  Unfortunately, oftentimes the property has to be evacuated and this results in loss of rent and possible arbitration for health issues with the tenants.  Take it seriously!

Frequently check for evidence of mold and be cautious of any minor leaks in humid locations that can foster mold.  Be careful to ensure that ventilation outlets are opened so the basement areas can “breathe”.  One
issue we had in a very expensive town home was caused partly by the vents being closed so there was no adequate venting.

We are including a link to the extensive CMHC information page for you to review:

Fighting Mold — The Homeowners’ Guide

Understanding mold

• Mold can be harmful or helpful — depending on where it grows.
• Mold needs moisture to grow.
• Mold does not grow on dry materials.
• Mold growing inside a home can affect the occupants.
• Occupants can learn to recognize mold.

Molds are microscopic fungi, a group of organisms which also includes mushrooms and yeasts. Fungi are highly adapted to grow and reproduce rapidly, producing spores and mycelia in the process.

You encounter mold every day. Foods spoil because of mold. Leaves decay and pieces of wood lying on the ground rot due to mold. That fuzzy black growth on wet window sills is mold. Paper or fabrics stored in a damp place get a musty smell that is due to the action of molds.

Molds can be useful to people. The drug penicillin is obtained from a specific type of mold. Some foods and beverages are made by the actions of molds. The good kinds of molds are selected and grown in a controlled fashion.

Molds are undesirable when they grow where we don’t want them, such as in homes. Over 270 species of mold have been identified as living in Canadian homes. Molds that grow inside may be different from the ones found outdoors.

What makes molds grow?

Molds will grow if we provide them with moisture and nutrients. If we keep things dry, molds do not grow.

High moisture levels can be the result of water coming in from the outside, through the floor, walls or roof; or from plumbing leaks; or moisture produced by the people living in the home, through daily activities like bathing, washing clothes or cooking. Water enters the building when there is a weakness or failure in the structure. Moisture accumulates within the home when there is not enough ventilation to expel that moisture.

Different kinds of molds grow on different materials. Certain kinds of molds like an extremely wet environment. Other kinds of molds may be growing even if no water can be seen. Dampness inside the material can be enough to allow them to grow.

Why are molds a concern?

Damage to materials is one concern. Materials get stained or discoloured, and over time they are ruined. Moldy paper and cardboard disintegrate over time. Fabrics are damaged. Continued mold growth can be indicative of moisture conditions favourable for growth of fungi that cause wood rot and structural damage.

When molds are growing inside the home, there may be health concerns. Molds release chemicals and spores.

Health experts indicate that, depending on the type of mold present in a home, the amount and degree of exposure, and the health condition of the occupant, the health effects of mold can range from being insignificant to causing allergic reactions and illness.

Pregnant women, infants, the elderly and those with health problems, such as respiratory disease or a weakened immune system, are more at risk when exposed to mold. Consult your family physician if you believe there is someone who may be at risk.

Is there a mold problem?

Molds are always found in the air outside and in all buildings. They come into the home in many ways — through open windows or doors, on clothing, pets, food or furniture. The problem starts when mold grows inside the home.

Some mold growing, for example on the window sill but not elsewhere, is not a cause of concern. You can clean the mold yourself. The presence of mold is a sign that there is too much moisture in your home — a situation which must be corrected.

Inspect the home to find the extent of the mold.   (….read more here at the CMHC site….)

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The holiday season is upon us and we have had a good turn out this week. There are people still apartment hunting during the cold and treacherous weather!

Just a reminder to everyone applying to view our suites that we will be closed on December 24th at 3pm and will reopen on Friday January 2nd and resume showings on that day.

This week at Downtown Suites the outcome of all viewers for each suite are as follows:

In the $1000-$1500 per month price range: 2 people
In the $1600-$2000 per month price range: 20 people
In the $2100-$3000 per month price range: 9 people

In the $3100+ per month price range: 1 Person

Wishing everyone a Merry Christmas and a Happy New Year!

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Many years ago when travelling in Egypt, I was staying in the home of a devout Coptic Christian in Luxor. My travel companion was a woman, a completely platonic friend. When the Coptic gentleman had to go on a journey, he kindly let us stay alone in his home, but he was quite concerned, surprisingly, not for any of his possessions but that we might defile the place by an illicit sexual act.  Of course we assured him of our chaste relationship and he left trusting us.

At the time his attitude seemed quaint, but all these years later it now makes much more sense to me. In our modern hectic life, there is so little understanding of energy, and the reactions the various forces have on our lives.

I recalled that time in Luxor yesterday when I had the unfortunate duty of serving a breach notice to a tenant. Tanja Milosevic, our senior Property Manager, and I met with the tenant to warn her that an outbreak of disorderly conduct in the suite by her new husband’s friends was cause for termination.

On behalf of our clients, we do not tolerate any infractions or unreasonable conduct. We believe, however, that everyone deserves a warning before termination of the tenancy so I personally went to the suite to talk with the woman. It was an embarrassing and unfortunate moment for us all. While we talked the TV blared on in the background and her cell phone rang several times.

We didn’t talk only of regulations. I reminded her that her home was really her sanctuary and her place of refuge. I felt she understood, even though I must have sounded as old fashioned to her as the generous Copt in Luxor had sounded to me, years ago.

Remembering Luxor

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I was just doing some research for a client and I noted that there are currently 35 listings actually active already in this new building on MLS!

It appears the much vaunted and waited for Shangri La building is suffering along with the rest of the market.

It will be about 75% rental from what I understand.

The only sale on MLS was a 26th floor (that is a few floors below the view kicking in) one bedroom of 595sq ft which had been listed at $458k but sold the last week of November 2008 for $410k or $689psf.

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This week at Downtown Suites the outcome of all viewers for each suite are as follows:
In the $1000-$1500 per month price range: 15 people
In the $1600-$2000 per month price range: 17 people
In the $2100-$3000 per month price range: 8 people
In the $3100+ price range: We have listings in this price range but we have yet to show them because the units have not been closed.

There are many people who are still on the hunt for the perfect suite for rent in Vancouver, and they have a lot more options out there now. One of the other reasons that our viewing numbers are down is that it is getting close to the holidays. From the turn out for each viewing it is evident that most people do not want to move during the holiday and the new year.

Update on our suites in H&H and the Shangri La

H&H

As far as rentals go, we have had a few of our H&H suites rented. This is a wonderful brand new building with high end finishings and top of the line appliances. All the suites have a generous amount of space for you to cook in, hang your clothing, and have a bubble bath.

On top of all that, there is a common area roof top garden is very peaceful and serene when you get up there. We still have a few suites available and they are definitely ones that people should add on their list of places to view.

Shangri La

The Shangri La is another building that has been getting a lot of buzz. The suite has amazing views of the city with an open layout and wonderful details in the kitchen and bathroom.

The hotel is due to complete in mid January with all the amenities including the spa up and running in the new year. Located just right next door is the Burberry retail store that showcases some of the most well made and classic pieces. The new Urban Fare is already extremely busy with people either enjoying a bite, sipping on a cuppa joe, or picking up some gourmet ingredients.

This is a great address to live and people should definitely make an appointment to view it today.

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Vancouver is given a big boost in today’s New York Times, in the Great Homes, Lifestyles and Destinations section, outlining many of the reasons why investors and second-home buyers worldwide choose to invest in Vancouver real estate.

The article:

Preening for the Olympics, Vancouver Is Building Up

By DAVE CALDWELL Published: December 4, 2008

EVEN when it rains hard in Vancouver, British Columbia, the host city for the next Olympic Games, big yellow backhoes at construction sites near Coal Harbour.…(view full article here)

Those involved in local real estate estimate that about 20 percent of those second-home buyers will be Americans. “We’re really livable, which is why America likes us,” said Bob Rennie, whose company, Rennie Marketing Systems, promotes several developments in Vancouver.

Click the link to view the stunning slide show “Building Vancouver’s Olympic Future” from today’s New York Times. It shows through spectacular photography the beauties of the city of Vancouver.

At Downtown Suites, we manage the properties of many non-resident investors who own in Vancouver.

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