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Covid-19 Time Capsule for Kids and Adults!
Check out our Covid-19 Time Capsules! Here is a great way for kids and adults to capture thoughts and memories during this unusual time in our history.
COVID-19 Summary of Financial Supports
SUMMARY OF FINANCIAL SUPPORTS
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HOUSING |
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Support |
Description |
How to Access |
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Bill deferral, payment plans, as well as crisis funding is available. |
Call 1-800-BC-HYDRO or apply online. |
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No rent increases are allowed in BC, effective April 1. |
No action needed. Contact RTB with questions. |
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Provides up to $500/month towards rent, paid directly to landlords. |
Check back for application instructions. |
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Mortgage payment deferrals available for CMHC-insured loans. |
Check with your lender. |
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Check with your lender about payment deferral options. |
Check with your lender. |
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Existing shelters still active and additional emergency options may be available. |
Call 2-1-1 or search online. |
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PERSONAL INCOME – WORKFORCE |
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Support |
Description |
How to Access |
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Employment Insurance (EI) |
Existing EI benefit continues to be available. Provides up to $573/week to people who have lost income. |
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One-week waiting period has been waived. |
Call 1-833-381-2725 or apply online. |
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Provides $2000/month to workers who lose income due to COVID-19, including contractors and self-employed people. |
Check back early April for application instructions. More info here. |
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One-time additional tax-free payment of $1000 to those on EI or CERB. |
Check back for application instructions. |
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INCOME SUPPLEMENTS FOR PEOPLE |
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Support |
Description |
How to Access |
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One-time boost of up to $600 per eligible couple, $400 for eligible individuals in May. |
Benefit is paid out according to your income tax return. More info here. |
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One-time boost of up to $564 for eligible families of 4 and $218 for eligible individuals in an enhanced payment in July. |
Children under 18 years old must be registered for the CCB to qualify. No other action is needed; benefit is paid out according to your income tax return. More info here. |
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Canada Child Benefit (CCB) |
One-time boost of $300 per child in May. |
No action if you are already registered for CCB. Otherwise, apply online. |
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Youth in care will not age out of services during the pandemic. Agreements with Young Adults (AYA) program payments will continue despite school closures and training interruptions. |
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Agreements with Young Adults (AYA) program payments will continue to former youth-in-care despite school closures and training interruptions. |
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Existing Income Assistance program continues to be available for those in need with no other resources. |
Apply online, by phone at 1-866-866-0800, or visit your local office. |
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Existing Disability Assistance program continues to be available. See also full list of additional supports here. |
Apply online, by phone at 1-866-866-0800, or visit your local office. |
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Existing programs continue to be available, including: |
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OTHER SUPPORTS FOR PEOPLE |
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Support |
Description |
How to Access |
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Hospital parking |
Parking is free of charge at all health authority owned/operated health care sites. |
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Monthly payment deferral for up to 90 days with no penalty. |
Call 1-800-665-6442 or apply online. |
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Child care providers receiving emergency government funding cannot charge parent fees for any periods of closure or for vacant spaces and must reserve spaces for families, starting April. |
Check with your provider to see if they are in this program. |
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Six-month interest-free moratorium on repayment, starting April. |
Repayment will be paused automatically. |
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Six-month interest-free moratorium on repayment, starting April. |
Repayment will be paused automatically. |
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Fare-free boarding on all buses. Enter through rear of the bus, unless accessible loading is required. |
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Minimum withdrawals from Registered Retirement Income Funds (RRIFs) has been reduced by 25% for 2020. |
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Emergency loan of $5000 available to Canadians travelling abroad. |
Dial +1 613-996-8885 or send an email. |
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Filing due date is deferred to June 1. Payments owed are deferred until after August 31. |
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BUSINESSES (GENERAL) |
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Support |
Description |
How to Access |
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⚡ BC Hydro |
Bill deferral and payment plans. |
Call 1-800-BC-HYDRO. |
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Covers up to 75% of wages for businesses, charities, and non-profits that have lost more than 30% of their revenue. Max subsidy of $847 per week per employee, backdated to March 15. |
Check back for application instructions. |
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Financing support for small and medium-sized businesses. Available mid-April. |
Speak with your financial institution. Learn more. |
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Payments owed are deferred until after August 31. |
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Payments for Employer health tax (EHT), provincial sales tax (PST), municipal and regional district tax, tobacco tax, motor fuel tax, and carbon tax are deferred until after Sept 30. Scheduled April 1 increases to provincial carbon tax and PST are deferred. |
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Cut of 50% for business and industry property classes, to be passed onto tenants on triple-net leases. |
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Payments owed deferred to June 30. |
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Payments owed deferred to June 30. |
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⚠️ See more re: Businesses. |
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BUSINESSES (BY SECTOR) |
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Support |
Description |
How to Access |
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Emergency funding is available for child care providers that stay open and that close. |
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$3-million Arts and Culture Resilience Supplement to give operating and eligible project clients a supplement of up to $15,000. Clients will receive a 50% advance on 2020-21 funding. |
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Simplified process for Canada Book Fund and Canada Periodical Fund. Journalism Tax Measures. |
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CRTC Part I licence fees waived. |
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Tourism operators in national parks, historic sites, and marine conservation areas will have payments on commercial leases and licences of occupation deferred without interest until September 1. |
Wait to be contacted by Parks Canada. |
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Seafood growers, shellfish farmers, and processors, will have access to the $5 billion Farm Credit Canada loan program. |
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Access to the $5 billion Farm Credit Canada loan program. |
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Rents paid on ground leases waived. |
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FUNDING BOOSTS TO CHARITIES FOR PROGRAM DELIVERY |
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Support |
Description |
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Funding boost to Food Banks British Columbia, who will distribute the money among food banks province wide. |
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Funding boost to Kids Help Phone, which provides young people with mental health support. |
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Funding boost to United Way Canada for local organizations to support practical services to Canadian seniors, such as: Delivery of groceries, medications, or other needed items, or personal outreach to assess individuals’ needs and connect them to community supports. |
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Check out our monthly newsletter!
March REBGV stats are here!
We offer the biggest referral fees in the Business!
We pay a 30% referral fee on all referrals, PLUS an additional 30% on any further business your referral generates within the 1st 3 years of us working together.
Yes, it's that awesome!
#StayHome Coloring Contest
#StayHome Coloring Contest
Break out your crayons, pencil crayons, felts, markers and lipstick. This contest is open to all kids & adults; no purchase necessary.
To enter, print off and colour in the page included in this package, colour however you see fit! Email us a scanned copy OR snap a picture of your final product! Don't worry if you do not have access to a printer. Use a blank piece of paper and draw your own version of our colouring page!
Email entries to frontdesk1037@kw.com.
Every entry will receive a surprise participation prize!
1st Place $500 donation to a charity of your choosing
2nd Place $300 donation to a charity of your choosing
3rd Place $200 donation to a charity of your choosing
Multiple Entries from same household welcome; limit of 1 entry per contestant.
Submissions must be received by: 5:00 PM PT on April 27th, 2020.
Entries will be judged on accuracy and creativity.
That Basement Money
There is Money Hidden in the Basement…..
When previous generations bought homes, basements were mostly used for storage or having parties (or sometimes both). It’s always worth a look, but it’s most likely there is no actual money hidden in the basement walls. But there are other opportunities down there.
Today, basements can be a beautiful long-term money source. Whether you live in the home and rent out the basement to help cover your mortgage or you rent them out as two separate units, they both make sense and dollars.
Purchasing homes with unfinished basements can provide a dual opportunity. Firstly, you can force appreciation by adding square footage to your investment by renovating the basement and converting it into a suite. Secondly, you can capitalize on rental income after the initial renovation cost.
Let's run the numbers on a home on Vancouver Island. For argument's sake, this comparison is already finished and move-in ready.
Home Number 1:
$500,000 home price
1700 square feet
3 Bedroom/2 Bathroom Rancher
Rent estimate according to Craigslist and Rentometer.com: $2000/per month
Estimated Gross Income: $24,000
Estimated Cap Rate: 3.9%
Home Number 2:
$550,000 home price
2500 square feet
3 Bedroom/1.5 Bathroom up top
2 Bedroom/1 Bathroom down
Rent estimate according to Craigslist and Rentometer.com:
Upper floor: $1772/per month
Basement: $1305/per month
Total: $3077/per month
Estimated Gross Income: $36,924
Estimated Cap Rate: 6.7%
Top 5 Concerns & Solutions for Distance Real Estate Investing
Posted in:
investment properties
Do you see the potential in the regular income stream of a rental property, but are frustrated with Vancouver's low cap rates that make positive cash flow seemingly impossible?
Investing outside of Vancouver may be your answer...
1) "But Justin, I don't want don't want to hire an expensive property manager."
You don't have to and to be honest, I don't recommend it.
Instead, create a positive relationship and establish good communication with tenants from the start. Not only will this help keep tenants long term, but it will also keep you informed about what is going on in and around your rental property.
2) "What if there is a plumbing emergency?"
Call a plumber. Most neighbourhoods have a Facebook group. Join it. These will be great spots to find recommended tradespeople. And when you do find a good contractor, keep a good relationship with them. Pay them right away. Once you have a list of tradespeople that are approved, give that list to your tenants for emergencies (this is especially true for plumbers.) Give them the go-ahead to call the plumber in the event of a midnight plumbing emergency.
3) “Who is going to meet the tradesperson to let them in?”
Keyless Entry Keypad Deadbolts are the answer. Put a master code in for yourself, one for the tenants and then a few other ones for tradespeople. They aren’t even that expensive (around $160 for a decent one.)
4) “What about collecting rent?”
There are sites that you can use that will provide your tenants with auto withdrawal. Also, e-transfers work just fine.
5) “How will I find tenants?”
Advertise on Craigslist, Kijiji or the neighbourhood Facebook group (sometimes there is one exclusively for renters.) Hold an Open House (yes, you are going to need to travel for this part.) The great thing about connecting with tenants on Facebook is that it is easy to do an initial background check on them.
Categories:
investment properties
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.