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Tenant Insurance for Vancouver 2010 Renters PLUS the Vancouver Organizing Committee Homestay Program & Short Term Incentives for Rental Program (STIR) and How It Affects You
So if you are looking to rent out your home or condo during the Vancouver 2010 Olympic Games, please read below for some important news that you can benefit from. The Vancouver Organizing Committee Homestay Program is an invitation to North Shore residents and homeowners in the Sea-to-Sky Corridor who want to rent their house fully or in part to Vancouver 2010 Olympic Games volunteers. In addition, the City of Vancouver is also thinking of increasing Olympic 2010 rental stock ahead of the Winter Games.


A great article in the North Shore News talks about the importance of the proper home insurance for your Vancouver rent 2010 accommodation to tenants. With more than two hundred thousand international visitors from around the world descending on the Greater Vancouver area during the Winter Olympic Games in February 2010 and with the recent launch of the Vancouver Organizing Committee’s homestay program, many people have Vancouver 2010 home rentals on their mind. For both Vancouver homeowners and real estate investors with extra space, homes, apartments condos or basement suites, people are realizing that they can make a quick fat buck during the 2010 Winter Olympic Games by renting out their homes and accommodation. The Vancouver Organizing Committee Homestay Program is an invitation to North Shore residents and homeowners in the Sea-to-Sky Corridor who want to rent their house fully or in part to Vancouver 2010 Olympic Games volunteers. As the Homestay Program by the 2010 Vancouver Organizing committee takes off and the Winter Games approach, the Insurance Bureau of Canada is reminding Vancouver homeowners renting their rent 2010 accommodation homes who plan to rent out that they should verify they have full insurance coverage.

Both the North Shore Organizing Committee Homestay Program and the Vancouver Short Term Incentives for Rental Program (STIR) will be used to effectively increase the Vancouver 2010 rental housing stock for volunteers, tourists, media and athletes

According to Linsday Olson, IBC vice president for B.C., Saskatchewan and Manitoba, home owners need to talk with their insurance professional or their account representative for home insurance and make sure that the coverage is in place because the regular homeowner’s policies are designed for just that and not for being rented out. Vancouver homeowners should contact their insurers and Vancouver 2010 home insurance companies and explain the exact living arrangement they plan on having during the 2010 Olympic Winter Games. You will need to indicate if you are setting up a bed and breakfast or if multiple tenants will be living in your rental Vancouver 2010 accommodation. There are so many different arrangements that can be made with tenants and visitors during the Vancouver 2010 Games and with each of these situations, home insurance for homeowners and insuring tenants can be quite different. You will need to talk to your insurance rep and find out just how your home insurance policy is going to respond in your particular case(s). Vancouver Olympic 2010 homeowners need to make sure their insurance company agrees to the intended living situation. They should also discuss the issues of liability in their home and take precautions to make sure the furnished 2010 renters are safe while they are living in your home or suite. IBC also offers a free, downloadable inventory software for any homeowner, not only those renting 2010 Vancouver accommodations which serves to valuate possessions and keeps track of belongings in case a claim needs to be filed at any time during or after the Olympic 2010 tenant stay. The program is available on the IBC website at www.ibc.ca.

The Insurance Bureau of Canada recommends that Vancouver homeowners looking to rent out their fully furnished homes to seek full tenant insurance as the current insurance plans may not cover a rental problem.

Vancouver City Council Plans to Increase Rental Property Stock Ahead of 2010 Olympics
According to 24 Hours Vancouver newspaper, the city council of Vancouver is preparing to boost the city’s stock of rental property with incentive laden plans that should spark the construction of new rental housing. This plan to increase the Vancouver rental stock of apartments for rent and new condos should be attractive to developers who will get massive rebates and incentives to build these rental Vancouver apartment buildings, that the city sorely lacks and needs right now even ahead of the Vancouver 2010 Olympics which has revealed the lack of adequate rental housing in the city. But there are critics out there who ware worried that the Vancouver real estate developers won’t pass on these builders savings onto the end market, the tenants and renters looking for more affordable housing and newer Vancouver rental apartments which are non-existent at this time. The Short Term Incentives for Rental program, which is also nicknamed STIR by City Council, is meant to counter the Vancouver rental real estate market’s long term downward trend in building rental housing and thereby creating more stock and affordable apartments for rent in the city of Vancouver. The short Term Incentives for Rental Program plan would cut the costs of building Vancouver rental apartments in the city by thousands of dollars per unit or rentable apartment suite.

The Vancouver Short Term Incentives for Rental Program will provide more rental accommodations with new lock-off suites, basement rentals and much more being legalized to increase affordable housing options

The Short Term Incentives for Rental program in Vancouver will do this by reducing the parking requirements that are quite stringent right now in addition to waiving rental building development cost levies and other fees. In addition, the City of Vancouver will allow for smaller lock-off suites as well which in the end will increase the housing stock for the city. Without the incentives in place by the Short Term Incentives for Rental Program, a typical 4 floor, 100 unit Vancouver rental condo building on a major transit route would need rents of about two thousand dollars per month for a one bedroom unit to cover it’s own costs, which is not an attractive offer to developers and local builders. With the incentives through the Vancouver Short Term Incentives for Rental program, the same rental apartment building project would be built with a target of about one thousand dollars per month, a huge savings for the developer and also to the end client, the tenants and renters for these new and more affordable Vancouver rental housing units. However, some city councilors are worried that the breaks on the rental Vancouver apartment building projects for levies and fees that would normally go towards amenities like affordable housing and childcare, would be lost. This loss is measured at about seven thousand six hundred dollars of amenities per unit. In addition, there are no guarantees that the final rents for these so called more affordable Vancouver rental apartments will be cheaper than before, allowing possibly the developers to pocket the gain.


CLICK HERE for a full list of Vancouver Real Estate Developments

VISIT THE NEW VANCOUVER CONDO BUZZ BLOG

2010 Winter Game Rental Resources

VANCOUVER 2010 GUIDES AND CHECKLISTS

2010 Renters Checklist
2010 Renters Guidebook
2010 Homeowners Checklist
2010 Homeowners Guide

THE BEST FURNISHED 2010 PARALYMPIC RENTALS & AFFORDABLE CONDOS FOR MARCH 2010

PURCHASE OLYMPIC 2010 VANCOUVER TICKETS FOR SALE THROUGH VANOC

ARE YOU LOOKING FOR A VANCOUVER 2010 RENTAL?

Choose the BEST 2010 Furnished Rentals - Step 1 to 3

Find the TOP Vancouver 2010 Accommodations - Step 4 to 6

Downtown Vancouver 2010 Rental Condos, Apartments in Coal Harbour, Olympic West End Rentals, Yaletown and Gastown

Affordable 2010 Vancouver Rentals, Cheap Accommodation & 2010 Hostels

Westside Vancouver 2010 Rentals, East Side Condos and South East False Creek Olympic Housing

Best Vancouver Gay Friendly Hotels, Whistler 2010 Pride House at Pan Pacific Hotel

Kitsilano, Point Grey and UBC Vancouver Furnished Rentals

Spanish Banks and Jericho Beach now offering Kitsilano Vancouver 2010 RV Parking Lots

North Shore Furnished Rentals: West Vancouver Rent 2010 Homes & North Van Olympic Rental Suites

2010 Condos vs Hotel Suites - What's The Difference?

The BEST Downtown Vancouver 2010 Hotel Rooms & Olympic Accommodation Deals

North Vancouver 2010 Cruise Ship Rooms & Accommodations on Norwegian Star and Possible New West Cruise Line Moorings

Breakdown of furnishings & floorplans in a fully furnished Vancouver 2010 Olympic Rental

Furnished 2010 Burnaby Accommodation and Burnaby Olympic 2010 Non Venue Rental Homes

New Westminster Furnished Rentals Olympic Winter Games

2010 North Vancouver Furnished Rental Accommodation Available

Venue City RICHMOND 2010 Furnished Rental Homes & Accommodation now available

Furnished COQUITLAM 2010 Rentals, Port Coquitlam Olympic Housing and Rent 2010 Port Moody Condos

Paralympic Games and Vancouver 2010 Tickets for Sale and News on Release Dates

Vancouver 2010 Ice Hockey Tickets, Opening Ceremony Rentals near BC Place

ARE YOU RENTING YOUR HOME DURING THE 2010 OLYMPICS?

Have you considered renting your home during the 2010 Games?

Renting a Furnished 2010 Suite Yourself? Here's some advice.

Use a Professional Vancouver 2010 Property Management Company for Your Furnished Rental

PART 1 - Issues surrounding furnished 2010 rental housing including property management issues and money/rent collection

PART 2 - Other problems you may encounter if you rent 2010 Vancouver accommodations including GST524 Rental Rebate, reporting your rental income and strata bylaw restrictions for furnished 2010 condos and townhomes

PART 3 - Rent 2010 Vancouver Furnished Suite Issues including HRT and other city taxes, competition from 2010 property managers, post- 2010 Olympic rental inventory

District of West Vancouver 2010 Rentals and Short-Term Rental Bylaw Changes

Be prepared to pay the $106 business Olympic 2010 license fee for homeowners looking to rent 2010 accommodations to visitors

Vancouver Short Term Incentives for Rental Program, Olympic Homestay Program and Tenant Insurance

Short Term Vancouver 2010 Rentals and Hotel Room Taxes (BC HRT Taxes)

Dealing with Difficult Tenants and Avoiding Discrimination for your Vancouver 2010 Rentals

Here's a list of Olympic 2010 accommodation seekers for your furnished Vancouver 2010 rental suites and homes - ideal 2010 renters and tenants listed here!

RCMP 2010 Integrated Security Force that will ensure the safety of Vancouver Olympic Athletes, Visitors and Tourists

OTHER 2010 OLYMPIC INFO

Concerns over affordability of affordable Vancouver 2010 rentals and accommodations

Olympic Vancouver 2010 Travel Agents Looking for Rentals

VANOC sues 2010 ticket reseller while ICBC and BC Hydro purchase bulk Olympic 2010 Vancouver tickets

2010 Vancouver Olympic Games Resources and Articles

Vancouver 2010 Blogs and Olympic Athlete Blogging, Twitters a No-Go?


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