Five Metro Vancouver mansions being rented for (relatively) cheap, cheap, cheap

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An $8 million home renting out at $4,000 a month gives the owner a rate of return of just over one half of one per cent — but it’s better than paying hundreds of thousands in vacancy taxes.

It’s being reported that dozens of multi-million dollar homes on Vancouver’s westside have come up for rent as a result of the provincial Speculation and Vacancy Tax and the city’s Empty Homes Tax.

As Postmedia reported last month, there are two Twitter handles that have been making hay by highlighting the losses some Vancouver homeowners are taking as the property market drops.Here’s a list of five mega homes up for rent, or just rented, in Metro Vancouver that are relatively cheap. 2: 4473 West 5th Avenue, Vancouver. This home is a new build, and even comes with a laneway house. The Point Grey property was purchased in Sept. 2017 for just over $4 million and is now for rent for $6,800 a month. It has six bedrooms and bathrooms and the laneway house has one bedroom. It’s absolutely new and looks it. I doubt it will go to a group of Irish youth, who are coming to Vancouver more often now , but at seven rooms that’s still less than $1,000 per person. The listing is here.

 

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