The Landlord Guide to Empty Homes Tax

Here’s what you need to know about Vancouver Empty Homes Tax, as a property owner.

If you own a residential property in Vancouver, chances are you’ve heard of the Empty Homes Tax program, introduced to address the city’s housing shortages. This vacancy tax initiative by the City of Vancouver aims to encourage homeowners to either live in their properties or rent them out for extended periods.

What do I need do to know about the Empty Homes Tax?

As a registered homeowner in Vancouver, it’s mandatory to submit your property’s status via a Empty Homes Tax declaration annually, usually due in early February. Missing this deadline will incur a $250 bylaw fine, and your property will be marked as vacant, subjecting you to an additional tax of 3% of its assessed value.

Additional fines may be imposed, including a late penalty of 5% of the vacancy tax levy; while providing a false Empty Homes Tax declaration could result in fines of up to $10,000 per day.

Deadline for Empty Homes Tax Declaration: February 2, 2024

Final deadline without penalty: July 3, 2025

How do I complete the Empty Homes Tax declaration?

Submitting your declaration is made simple and accessible through the City of Vancouver’s website, with only one declaration required per property each year.

Who is exempt from this vacancy tax?

Principal residences and rental properties are not subject to the Vancouver Empty Homes Tax, if the properties were occupied for at least six months of the vacancy reference year and rented for periods of 30 or more consecutive days.

Certain exemptions on vacant homes also exist. For example, properties undergoing significant renovations or redevelopment may qualify for exemptions, and secondary property owners obligated to spend a specific number of days in Vancouver for work or medical reasons can apply for exemptions by providing appropriate documentation. A comprehensive list of exemptions is available on the City of Vancouver website (vancouver.ca/eht).

How can I avoid the tax?

For homeowners looking to avoid the Empty Homes Tax in Vancouver, enlisting the expert services of a property management company to manage your vacant home is a practical solution.

At Birds Nest Properties, our licensed team of property mangers can help you maximize your rental potential with reliable rental income, and relieve you of the responsibilities associated with independently managing your property.

Learn more about Birds Nest Properties Property Management services.

Additional Resources

The Empty Homes Tax continues to evolve on a yearly basis. Also note this tax is separate from the Government of Canada’s Underused Housing Tax and the Government of BC’s Speculation and Vacancy Tax. If you have questions about how these taxes may apply to your investment property, call us at 604.260.9955.

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Birds Nest Properties is a boutique rental property management company that specializes in serving owners of condos and houses in and around Vancouver.

Thinking about renting out your property?
Call us 604.260.9955 to learn about how we work.