Investors Violate Bylaws

Some CREW readers have been showing compassion to a group of investors who have been banned from renting out their units to other people. An investor made a comment withregards to the story about the Court of Appeals in Vancouver lately keeping to the strata rule that allows just one unit within a Vancouver condo building to be rented at any one time. He said “Anyone making an investment without appreciating the bundle of rights attached to the investment is not being duly diligent. This applies no less to purchasers of condos than to purchasers of any other investment.”

In that said building in Vancouver, there is a total of 158 units that is included in 1445 Marpole Avenue, Hycroft Towers. From those units, despite an appeal, only one unit can be rented out for a specific period. About four family member investors who are owners of three units in the building brought forth an appeal. The strata council rejected their proposal of renting out their units; however, that didn’t stop them from renting one of their three units out.

They went against the strata bylaws and violated the terms and agreement that were meant to be upheld. Nevertheless, the investors think that they did the right thing and do not regret doing it one bit. An anonymous CREW reader wrote that “They knew the bylaws, or should have when they bought the unit(s). If they did not, or chose to ignore these bylaws, that’s on them. I have zero sympathies for the owners in this case.”