Thursday, January 8, 2009

Gabriola Island Rentals…

Gabriola Island, has nearly a 0% vacancy rate, rentals are hard to come by, when it comes to year round rentals… However, in the past few months there has been an increase in the rentals currently available on the island - which is good news to tenants seeking rental accommodations on the island.

In comparison to Nanaimo, the rental rates on the island seem to offer far more for tenants, in the size of properties, potential for gardens, the wide variety of styles of homes, and the rental rates. For tenants seeking accommodations the best place to search for available homes is in the classified section of the Sounder, the Rental tab on , the bulletin boards around the island, as well as local islanders (who may know of some).

An example of a rental that is currently available on the island is… South end character home (wood floors & slate tile) of 3 bedrooms/2 bathrooms. A detached studio ideal for artists, and detached garage. Walking distance to the beach & Degnen Bay. Fenced in garden area with raised beds. (No pets/no smokers), references required $1,000/mo.

For home owners, there are property management agencies available to hand the rental aspects of the property, should you not want to handle it on your own. Brenda Gilroy of Coast Realty offers property management services for Gabriola, and can be contacted through the Nanaimo office at #250-758-7653. The typical tenants for the island may include; young families, daily commuters to Nanaimo, Boat Building School students, & Timber Frame School students, Retirees, and trades people, to give some examples.

In regards to short term rentals, of less than 30 days, also known as Vacation rentals, these are permitted on Gabriola but only if a temporary use permit is obtained. The temporary use permit involves an application to the Islands Trust with a fair amount of information required and an $800.00 application fee. There is no guarantees that a permit will be granted. The islands trust also does due diligence in looking through the area of how many are already in existence, if there are concerns of any neighbors, septic, water capabilities, and so much more. Because of the time line for going through the full application process, one would not be able to make this a condition of purchase, so you would be purchasing a property with no guarantees of receiving the permit. Mostly the vacation rentals tend to be centered around waterfront properties & or properties with relatively easy beach accesses, although the companies sometimes take on other homes that fit additional criteria.

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