Topic: Property Management

Update for our Residents & Community | April 30, 2020

Hello Duttons Residents, We hope that you and your loved ones are well in these unprecedented times. This week’s blog has a maintenance-related theme. Since we are not conducting routine maintenance inspections, we encourage you to check all the smoke alarms in your home. Plus we are offering FREE smoke alarm batteries. Our maintenance coordinator, Faye

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Taxes, utilities to push Victoria rents to 3.7% higher in 2017

British Columbia’s maximum residential rental rate increase will jump to 3.7% next year, a 28% surge over 2016’s 2.9% limit. The rate is set each fall by the province and is tied to the Consumer Price Index plus a 2% base allotment. Between 2014 and 2016 increases were capped below 3% while 2004, 2006, 2007 and 2012 saw rates at or above 4%.

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Vacancy Rates in Victoria

Late last month, the Times Colonist reported that there’s “little relief in sight for renters” in Victoria. Vacancy rates in Victoria for renters have been very low, sitting at just 0.6% according to the Canadian Mortgage and Housing Corporation (CMHC). Our internal statistics at Duttons confirm these statistics. We manage more than 550 condos, houses, townhomes and our internal vacancy rate has been near 0% the last 12 months.

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