Whistler is consistently ranked as the top ski resort in North America, and for good reason: year-round recreational activities, spectacular scenery and glacial lakes, world-class dining, events and activities, and a vibrant village with all the amenities you need for daily life – all conveniently located less than two hours from Vancouver International Airport.
If you're considering buying Whistler real estate as an investment opportunity and for rental purposes, you'll encounter unique real estate contracts designed to enhance Whistler's supply of tourist accommodations. Two important designations to know are the differences between Phase 1 and Phase 2 properties. And most importantly, what type of property makes the most sense for you? Do you plan on using the property a few times a year? Would you like the option to live in it full time and rent it out nightly when you're not using it? These are all things to consider before searching for your Whistler real estate haven.
While there are some general rules that apply to Phase 1 and Phase 2 property types, there are always nuances and exceptions to those rules, so it's important to work with a local agent to stay on top of the situation.
Whistler Phase 1 Properties
Phase 1 properties in Whistler allow owners unlimited use. Generally, this means that owners can choose to occupy the property year-round or rent it out long-term or nightly. Phase 1 properties are typically townhouses and some condominiums in the larger condo buildings in Whistler Village and Benchlands. Based on the details of the contract, if the property is not owner-occupied, it may need to be offered for rental. Another thing to consider in this situation is that strata rules may require you to use a specific rental management company.
Phase 1 Property Overview
– You can occupy the property full time
– You can rent the property on a monthly basis
– You can rent out your property on a nightly basis (e.g. Airbnb)
Whistler Phase 2 Properties
Use of Phase 2 properties is much more restricted than use of Phase 1 properties. Owner use is limited to 28 days in the summer and 28 days in the winter. How and when the property will be used, including potential additional use by the owner, is detailed in the contract. Owners own the entire property but must reserve their personal use in advance and place the property into a consolidated rental pool for the remainder of the year that is managed according to the zoning and the rental management company selected. Phase 2 properties are typically located within hotel complexes. Examples include Four Seasons Resort Whistler, Westin, Whistler Village Delta Inn and Suites, and Pan Pacific Hotel.
Phase 2 properties are generally considered commercial businesses and are taxed at commercial rates. Each property should be reviewed to see if revenues are pooled (for the entire property) or paid individually. Similar properties can vary greatly in price depending on the terms of the lease and the amount of revenue remaining for the owner at the end of each year.
Phase 2 Property Overview
– More restrictive than Phase 1
– The basic allocation for personal use of the property is a maximum of 28 days in the summer and 28 days in the winter.
– When not in use by the owner, the unit must be available for commercial rental
Whistler Investment Property Search
To navigate the complexities of the Whistler real estate market, it's important to seek out the advice and expertise that can only be found by working with a local real estate agent. With over 150 years of combined knowledge, our full-time Whistler Real Estate agents have handled a wealth of investment real estate transactions and can help you purchase the right property to fit your needs and wants.