Investing in Kamloops Real Estate: Changes to the BC Strata Property Act
Buyers are investing in Kamloops residential properties as rentals. This has been going on for many years. The BC Government recently changed the rules for strata properties in BC. They removed the age and rental restrictions from the bylaws by changing the Strata Property Act.
In Kamloops we have a number of very desirable strata developments that investors often want to consider as a purchase. These properties have always been off limits to those buyers due to the rental restrictions in place. With the recent changes to the Strata Property Act this allows investors to consider nearly all strata developments in the Kamloops area. There are a lot of great properties that would make great investments and homes for tenants. We have a very low inventory of rentals in many areas of Kamloops so hopefully this will open up more options for those renters looking for a place to call home.
Below is a list of several strata developments in Kamloops that previously had a rental restriction and are seen as a great place to invest due to their price point. Keep in mind that this does not apply to those properties that are age restricted to 55+ and this also doesn’t open properties up to short term rentals such as Air BnB or VRBO.
South Shore Strata Development Properties with Previous Rental Restrictions
411 Aberdeen Drive: Forest Hills. This complex consists of split-level walk up designed homes which back on to a green belt and two storey style homes. They range in size from just over 1,300 square feet to around 2,100 square feet. The complex was built in 2006/2007.
1970 Braeview Drive: Braeview Place. This complex was built between 2005-2008. They are nicely oriented walk-up style homes with single or double garages. These homes makes great rentals as they are very efficient living with no yard maintenance at all. Located minutes to Aberdeen Mall and transportation.
1990 Pacific Way: Pacific Ridge. This strata development sits alongside Pacific Way just minutes from the main Aberdeen/Dufferin shopping district. The units range in size from around 1,000 square feet to over 2,000. The strata is divided into two sections, the older section built in the mid 1990’s and the newer section built around 2008.
1155 Hugh Allan Drive: Glendevon. Built in the 1980’s these townhomes have nice architectural features in their layouts. They all have a carport for covered parking and are centrally located to transportation and shopping.
1160 & 1170 Hugh Allan: Highland Vistas. This condo development has nice units that are often two bedrooms and one bathroom. They are not huge units making them great for rental properties due to the size. They are located close to transportation making it easy for students or seniors to get around.
1120 Hugh Allan: Highland Ridge. The majority of the units in this condo development have sweeping views of the city of Kamloops and the North and South Thompson Rivers. These units range in size from one bedroom units to larger two bedroom, two bathroom condos.
To view all homes for sale in Aberdeen click here.
1570 Freshfield Drive: Summit Gardens. Located across the street from 1605 Summit Drive this strata development was built in the mid 1970’s however the units are larger than the Summit Drive units. The development has had a number of upgrades to the outside and a lot of owners have updated the inside of units.
1750 McKinley Court: McKinley Gardens. This strata townhouse development, built in the early 1990’s is nearly identical to the one located at 1775 McKinley Court. The units are a nice size, often over 1,500 square feet and all include a single car garage. There is a two-storey layout and level entry rancher layout in this development.
481 Monarch Court: Monarch Villas. Built in the late 1990’s Monarch Villas are nestled close to an elementary school, trails, and transportation. They are similar in size to the McKinley units but are just a bit newer.
1469 Springhill Drive: Springhill Gardens. These units were built in the early 1970’s and are very close to the Springhill/Summit intersection allowing for easy access to transportation and shopping. These townhomes all include covered parking and a bonus inground pool for those summer months.
1810 Springhill Drive: Gleneagles Manor. These units built in the early 1980’s have had a number of upgrades over the past few years (2020’s). Most units are the walk-up style however there are a few two-storey styled units. They are steps from the public bus stop and not far from city amenities.
1605 Summit Drive: Riverview Village. This strata development was built in the mid 1970’s. The units tend to be a bit smaller than those on Springhill, McKinley and Freshfield however they are often 2-3 bedrooms and are even 4-bedrooms in some cases. Located steps from the public bus stop and walking distance to TRU and shopping.
To view all homes for sale in Sahali click here.
South Kamloops, Downtown Kamloops
629 Lansdowne Street: Riviera Gardens. Located across the street from Lansdowne Village and the public bus loop this condo development is in a great location for those that want quick access to downtown amenities. The units range in size from a one to two bedroom unit. They all have secure parking.
436 Lorne Street: The Courtyard. 490 Lorne Street: Plaza Suites at the Station. 510 Lorne Street: Station Plaza. These condo buildings are all very similar. Located close to downtown amenities they all feature nice sized units ranging from one bedroom to larger two bedroom, two bathroom units. They often make a great home for those who are a bit older and want to be close to the hospital and downtown amenities.
900/950/970 Lorne Street: Park Place. This sought-after strata condo and townhouse development is one of the few in Kamloops with a number of amenities such as an indoor pool and hot tub, fitness room, meeting room/party room, sauna, dock on the river, workshop and more. The gardens are often very beautiful at Park Place and each unit has at least one underground parking stall.
683 Victoria Street: Monarch Place. This condo development is located close to downtown amenities with the majority of downtown shopping and transportation within a block or two of the development. The units have secure parking, and they are all above commercial space making them secure.
To view all homes for sale in South Kamloops Downtown click here.
1980 Glenwood: Glenwood Gardens. Located across the street from the newly renovated and built Valleyview Secondary School and minutes to the local elementary school. This development is great for families. It includes covered carport parking and an outdoor pool.
To view all homes for sale in Valleyview click here.
North Shore/North Side of Kamloops
1697 Greenfield Ave: Glenwood Townhouses. These homes are located in a quiet Brock neighborhood and feature a smaller footprint with fenced yards and carports. Each unit is just over 1,000 square feet and are two and three bedrooms.
800 Southill Drive: Southill Gardens. The units in this development range from two bedrooms to four bedrooms. Each unit has 3 levels of living space. They all have small yards and a single carport. They are located steps to transportation and the Brock Shopping Center.
800 Valhalla Drive: Valhalla Place. These townhome units are known for their nice sized square footage and fenced yards. They offer good space for those who reside in them. Located steps to transportation and an elementary school. They are also walking distance to the North Shore shopping district.
To view all homes for sale in Brock click here.
North Kamloops (North Shore)
249 Kitchener Cres: Shoreline Place. This strata development is located beside the Rivers Trail and beach volleyball courts. There is easy access to the river year-round, steps to transportation and minutes to downtown Kamloops. This strata complex also includes an outdoor inground pool.
To view all homes for sale in North Kamloops North Shore click here.
There are a number of other properties throughout Kamloops that are suitable for an investor or buyer. A lot of these properties did not have rental restriction in place before the BC Strata Property Act amendment.
There are a lot of investors and buyers looking to purchase in around Thompson Rivers University (TRU). There are some great options in that area that range in age, size and location.
If you would like more information about all of the properties for sale contact us.
To search for Kamloops properties for sale click here.