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Vacation Rentals Simplified

Delivering the Ultimate Owner and Guest Experiences

TURN YOUR PROPERTY INTO A VACATION RENTAL

We are ready to assist you if you choose to make your property available for rental for a minimum of 4 consecutive months per annum

We serve the City of Victoria as well as the districts of Saanich, North Saanich and Central Saanich, Sidney, View Royal and Langford

Victoria Prime

For the Ultimate Guest Experience

Victoria Prime provides the ultimate experience for your guests through a super clean and well-maintained accommodation combined with a state-of-the-art guest communication platform for seamless guest communication.

Why Choose Victoria Prime?

1. TRANSPARENCY

We use state-of-the-art reservation software which includes an owner portal for full transparency on rental income and charges.

2. SPECULATION AND VACANCY TAX REQUIREMENTS

We are highly focused on ensuring your property is exempt from the requirements of British Columbia’s Speculation and Vacancy Tax.

Our goal is to ensure that your property is exempt from the requirements of British Columbia’s Speculation Tax. Most of our owners are exempt whereby the property is occupied for a period of 180 days in a calendar year. In 2021, 95% of our eligible properties were exempted from the requirement to pay the speculation AND VACANCY tax.

3. FLEXIBILITY

Make use of your property whenever you wish! Through our reservation software’s owner portal, we make it easy for you as the owner to book your own stays.

4. PERSONALIZED CARE OF YOUR PROPERTY

We vet guests carefully and your property is provided with a deep clean and sanitization after each guest stay by our own cleaners on staff.
Our team of professional technicians ensures that maintenance problems are dealt with same day or within 24 hours for the highest maintenance standards.

5. NO LONG-TERM CONTRACTS

Victoria Prime is very confident that our service is unsurpassed. Therefore, we do not lock our property owners into a long duration contract. We only ask that you give us 60 days’ notice should your circumstances change and you wish to terminate the agreement with Victoria Prime.

COMMISSION AND FEES

No complicated fee structures
$0 hidden fees

Victoria Prime Commission:

 

20%

On all stays 28 days and longer *

 

30%

All stays shorter than 28 days *

$ 0

Property Set Up Fees

$ 0

Annual Recurring Fees

* The commission rates shown above apply to rental availability of the property for 6 consecutive months or more per annum. For consecutive rental availability of less than 6 months with a minimum of 4 months, the commission rate of 20% applies to stays of 32 days or more with 30% for stays of 31 days and less.

WHAT IS INCLUDED?

Victoria Prime’s Responsibility

  1. Photoshoot for listing
  2. Deep clean after each guest stay
  3. Basic maintenance of the suite that takes shorter than 1 hour to resolve

Victoria Prime’s Responsibility

  1. Initial deep clean at the start of the rental
  2. Restock for guest stay: Victoria Prime supplies the restock prior to each guest stay with a nominal charge to the owner.
  3. Internet and Cable TV package: Victoria Prime provide the owner the opportunity to join the bulk account for a discounted rate on Internet and cable TV.
  4. Maintenance of the suite that takes more than one hour to resolve or which needs special technical expertise to resolve.
  5. Maintenance of outdoor areas such as patio floors, garden features and gardens. Victoria Prime however provides services to maintain the outdoor areas at a charge to the owner.

OCCUPANCY RATES

Based on Available Time for Rental (Excluding Owner Stays)

Low Season

(Oct ‘21 – May ‘22)

83%

High Season

(June – Sept 2022)

81%

SPECULATION TAX COMPLIANCE

2021 Tax Compliance

95%

In 2021, 95% of our eligible properties were exempted from the requirement to pay the Speculation and Vacancy tax.

SPECULATION AND VACANCY TAX
REQUIREMENTS

If the property is your Principal Residence:

Generally, an owner is exempt from the tax if the residential property is their principal residence. A principal residence is the place where an individual lives for a longer period in the calendar year than any other place.

There are no requirements in regards rentals to meet the Speculation and Vacancy Tax requirement.

If the property is not your Principal Residence:

If a renter or non-arm’s length tenant occupies an owner’s home for at least six months in the calendar year, the owner may be exempt from the tax.

To be eligible for exemption, the following must be met:

The property must be rented for 6 months in a calendar year under the following conditions:

  1. The rental period should consist of minimum periods of 30 days. Note that periods shorter than 30 days do not count towards the six-month minimum requirement.
  2. The rental period should not have to be consecutive.
  3. Owner stays do not count towards the minimum rental period requirement.

How may the Speculation and Vacancy Tax affect you?

If the Speculation and Vacancy Tax Requirements are not met, then Vacancy and Speculation Tax applies. 

The applicable Speculation and Vacancy Tax rate varies depends on the owner’s tax residency, i.e. foreign ownership. In addition, the tax rate varies based on whether the owner is a Canadian citizen or permanent resident of Canada, or a Satellite Family.

A foreign owner is someone who is not a Canadian citizen nor permanent resident of Canada. A satellite family (also known as an untaxed worldwide earner) is an individual or spousal unit who earns the majority of their worldwide income outside of Canada, regardless of citizenship status. This means that if you are a Canadian citizen or permanent resident earning the majority of your income outside of Canada, you would be classified as a satellite family for the purposes of BC speculation tax and you would be taxed at the satellite family rate.

The tax rates are as follows:

2% of the assessed property value for foreign owners and satellite families

0.5% of the assessed property value for Canadian citizens or permanent residents of Canada and who are not members of a satellite family

The Speculation and Vacancy Tax applies based on ownership as of December 31 of each year.

A Speculation and Vacancy Tax year is the same as a calendar year. Tax levied on December 31 is due the following July. For example, for a property owned by a Canadian citizen as of December 31, 2022, the 2022 tax rate of 0.5% applies and the tax is due on July 2, 2023.

BUSINESS LICENSE REQUIREMENTS

In the different districts such as Langford, Sidney, Saanich, View Royal as well as the City of Victoria apply different bylaws in regards to Vacation Rentals as well business license requirements to operate a vacation rental.

We will be able to advise you on any bylaw and business license requirements.

City / District Primary Residence Non – Primary Residence
Victoria (Condo)

Short-term rental cannot occupy an entire self-contained dwelling unit, except occasionally while the operator is away.

Can rent entire home 3-4x/year short term (under 30 days). Or up to 2 beds in home while owner is living in the home. Long term (30+) days are permitted.

30+ days rentals are permitted but subject to strata approval for condos.

Business license required

Short term rentals permitted but only for legal non-conforming buildings. 30+ days rentals are permitted but subject to strata approval for condos.
Victoria (Home)

Short-term rental cannot occupy an entire self-contained dwelling unit, except occasionally while the operator is away.

Can rent entire space 3-4x/year short term (under 30 days). Or up to 2 beds in home while owner is living in the home.

Long term (30+) days are permitted.

Business license required

Only long term (30+ days) permitted.

Business License Required

View Royal

No short-term rentals permitted
Only long term (30+ days) permitted.

No business License required

Langford

You can rent out your entire home for short or long term.
If home has a “Legal suite”, then owner has to occupy either unit (suite or main floor) to rent out other unit.
Owner can also rent out bedrooms in the home if owner resides in the home, which would be considered a bed and breakfast and would require a B&B License.
Must also provide 1 onsite parking space if renting a suite. 2 if renting an entire home.

No Business License required for short- and long-term rental

Saanich

No short-term rentals permitted
Only long term (30+ days) permitted
If property has a suite, attached or detached, owner to occupy either unit to rent other unit.

Business License required

North Saanich

No short-term rentals permitted
Only long term (30+ days) permitted
If property has a suite, attached or detached, owner to occupy either unit to rent other unit.

Business License required

Central Saanich

No short-term rentals permitted
Only long term (30+ days) permitted
If property has a suite, attached or detached, owner to occupy either unit to rent other unit

Business License required

Sidney

Short Term and Long Term permitted if property does not have a suite, detached or attached.
If property has a suite, owner is to occupy either unit for short term and long-term rental in other unit.

No Business License required

PROPERTY MANAGEMENT

Give Us A Call At:

877-736-4250 See what our owners have to say about us

Free Rental Evaluation

Discover Your Property’s True Potential


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