Following the rising cost of property in the real estate industry of North Vancouver, more and more residents are opting for the more affordable strata living in condos.
Home developers have invested heavily in condos, high rise and low rise buildings designed to suit most city dwellers’ needs. Some buyers are too eager, and ignore or dismiss strata bylaws and restrictions laid down for the residents of the particular condominiums.
Different buildings have different bylaws and restrictions regarding different situations. Before buying a condo, here are some five major restrictions you should check to help you decide on which property offers the best living solution depending on your lifestyle.
Tips For North Vancouver Condos For Sale
1) Age Restrictions
Under the current B.C legislation strata corporation are at liberty to set the minimum and maximum age restriction for condo residents. The accepted restrictive limit is between 19 and 55 years. If the strata council pass an age restriction bylaw, current condo residents are exempted from the new law until they are no longer occupants of the building.
Before buying in an age restrictive building, you should have a clear plan on the expected length of stay and number and ages of expected occupants. This will save you the time and effort of having to relocate should you have an addition to the household in future, who doesn’t fall into the age bracket.
2) Rental Restrictions
Condo residents may at one time wish to rent out their condo partially to boost their finances, or rent out the entire space, for instance, while traveling or after owning another home. There are municipalities bylaws that govern such accommodation cases. However, before any long-term or short-term renting of your condo, it is best to check with the strata to see if it is allowed.
Different complexes will have different bylaws for dealing with rental cases. Their main concerns are security, damage, and insurance coverage. The renting party is considered a guest, and as such, may not be accountable or responsible for damages or covered by the insurance.
3) Pet Restrictions
In many cases, buyers overlook pet restrictions before buying. Only to find out their pet isn’t welcome, and have to deal with hefty fines, and eventually having to get rid of the pet or relocating. Pet restriction bylaws vary significantly from strata to strata. Some go to the extreme of completely prohibiting pet ownership.
Stratas that allow pets have strict restrictions regarding the pet’s size, weight, breed, and number of pets allowed one can keep. Some restrictions are obvious; vicious, unsanitary and noisy pets are not allowed in apartments. Most condos will allow one or two pets, no taller than a man’s waist and weigh 30 pounds or less.
Pet bylaws can change over time in some strata, to either become more lenient towards pet owners or increase restrictions. If changes in pet restrictions are made, current pets residing in the building remain unaffected by these changes.
4) Noise Restrictions
While living in condominiums, quite a fair amount of noise can be expected. Especially if the building is made of a sound porous material such as wood. Loud and distracting noise, particularly during the quiet hours normally set from 11 pm to morning hours is not tolerated. Loud noises can be parties, playing children, fights or screaming. Some may include pet noise which may also fall in pet restrictions bylaws.
The strata council sets the noise restrictions. They also act on noise complaints and serve warnings to noisemakers and in some serious cases even warrant eviction. Most buildings will not allow high levels of noise at any time of day from the residents.
5) Visitor Parking Restrictions
Residents are not allowed to pack in the visitors’ parking stalls unless under special conditions. Persons found to be parking in visitors’ parking spaces are fined and in the worst case have their vehicles towed away.
These parking spaces are strictly reserved for visitors. Most condos allocate or rent out parking spaces to its resident depending on the location of the building and the buyer’s agreement.
Before deciding on which property to buy, check every one of these bylaws and make sure your choice is convenient for your lifestyle. Other bylaws probably worth checking on are, smoking restrictions, maximum occupancy restrictions and renovation restriction.
Thanks for reading and please contact me if you are thinking of buying or selling in The Verve