The Power of Sunwise Property: Saving Owner $104,500 on Vacancy and Repairs

Are you an owner of a property in need of a quick rental? Or maybe you're looking to demolish your home but need to avoid vacancy and speculation taxes. If so, then you'll want to read about the success story of this Vancouver demo property.

This house, located in the Hastings Sunrise area, was in a tough spot. The owner had purchased the 1950’s property with the intention of demolishing it, but before doing so, they needed a quick rental for less than a year while organizing building permits. To avoid paying over $104,500 in vacancy and speculation taxes, the owner needed tenants for at least six months. But with the house in its current condition, it was unrentable.

The interior of the house was in a sorry state, with the hardwood floors trashed and the basement looking like the backdrop of a horror film. The downstairs bathroom was practically destroyed, and the entire house was in dire need of a fresh coat of paint. The previous owner had lived with lots of cats and pets, leaving an unpleasant odour that permeated the house.

Enter Sunwise Property. As their tenant, Sunwise Property pays upfront for all current and future expenses, giving the owner peace of mind knowing exactly when their property would become vacant for demolition. The team got to work restoring the house, making a long list of significant improvements that included fresh paint in the entire house, electrical updates, refinished hardwood floors, lighting fixture updates, new carpeting, patio repairs, and even adding an additional bedroom.

The team also updated the washer and dryer, made repairs to the furnace and roof leaks, and renovated the bathroom with new toilet, sink, flooring, lighting, and shelves. These improvements were all made with the intention of making the property more attractive to potential tenants and helping the owner avoid costly repairs and maintenance costs in the future.

Once the restoration was complete, Sunwise Property reached out to their network of tenants and subleased the house to a group of young professionals. The result? The new owners saved on vacancy tax, and an amazing group of people found a lovely and renovated home.

The benefits for the owner of the Point Grey House were substantial. Not only did they avoid paying over $104,500 in vacancy and speculation taxes, but they also saved over $30,000 in property repairs. Plus, they had the peace of mind of knowing that their property was being taken care of by trained and dedicated professionals, who were repairing and managing the integrity of their property 24/7.

At Sunwise Property, problematic vacant properties are their specialty. No matter your timeline or the condition of the house, they are committed to helping you get a clear picture of savings and rental income for your property. If you're looking for a solution to your property problems, consider reaching out to Sunwise Property today.