Naru Menon’s Blog

  • B.C. businesses challenging new short-term rental rules

    Arguments started in a legal challenge to new provincial short-term rental rules at Victoria Law Courts. Property owners seek to allow pre-legislation businesses to continue renting units. Premier Eby aims to prevent homes from becoming hotels. The lawsuit demands a declaration that the rules cannot be enforced retroactively. The case involves property rights group and…

  • Federal Budget’s Impact on British Columbians

    Federal Budget’s Impact on British Columbians

    British Columbians face some of the highest housing prices in Canada. The federal budget's heavy focus on housing is generally seen as positive by economists.

  • B.C. Restricts Short-Term Rentals to Boost Housing Supply

    B.C. Restricts Short-Term Rentals to Boost Housing Supply

    British Columbia is cracking down on short-term rentals (Airbnb, VRBO) to free up housing for residents.

  • BC Reveals Housing Targets

    BC Reveals Housing Targets

    BC government announces 20 municipalities to receive housing targets. Abbotsford, Delta, and Kamloops are among the members of the first group

  • Coquitlam council disapprovingly approves new housing legislation

    Coquitlam council reluctantly approved Transit Oriented Areas despite concerns about provincial housing legislation. The new rules establish density in circles around transit stations, with higher density closer to transit. Council members criticized the undemocratic legislation but emphasized the need to move forward. The bylaw must be approved by June 30 to avoid provincial intervention. The…

  • 4 crucial tips for Canadian homeowners considering renewing their mortgages in 2024

    Negotiating a mortgage renewal can be challenging due to increased rates. Canadians are facing higher payments as many mortgages are up for renewal. It's important to compare rates and read the fine print. Tips include starting early, considering life changes, opting for a new amortization, and being aware of changes in mortgage stress tests. Continue…

  • Building Boom or Bust? B.C.’s Workforce Gap

    Building Boom or Bust? B.C.’s Workforce Gap

    Canada's federal budget aims for 3.87M new homes by 2031, backed by $8.5B in housing initiatives. However, a shortage of skilled trades workers in British Columbia poses a challenge to meeting these targets.

  • BC’s Plan for 10K Middle-Income Homes!

    BC’s Plan for 10K Middle-Income Homes!

    BC plans to create 8K-10K new rental units by 2026. Rental units managed by non-profit and private developers will offer 20% below-market rates.

  • Almost Everyone Makes These 5 Home-Buying Mistakes

    Almost Everyone Makes These 5 Home-Buying Mistakes

    Neglecting maintenance costs can lead to financial strain, with unexpected repairs averaging $500 to $600/mo. Rushed purchases risk overlooking crucial factors like location noise and crime rates, causing potential regrets later on.

  • Happy Father’s Day

    Happy Father’s Day

    Approximately 2.5 billion Father's Day cards are sent each year. Neckties have become a popular traditional gift for Father's Day. "World's Greatest Dad" is a popular Father's Day phrase. Breakfast in bed is a common Father's Day treat. Wishing a fantastic Father's Day to all the dads who strive to be the best versions of…