Real Estate

B.C. homeowners way more likely to rent out part of their property

By Felicity Stone /

The Mendoza Lane House by Lanefab Design/Build was the first one in Vancouver
Mendoza Lane House

THE#BCBIZDAILY
Plus, Bill Bennett heads north to Alaska and Vancouver Island floats an LNG project

Renting to own
Way more homeowners in B.C. rent out part of their property than those elsewhere in Canada, according to a survey by Vancouver-based Square One Insurance, which operates in B.C., Alberta, Saskatchewan, Manitoba and Ontario. After talking to 4,000 homeowners over six months, the company found that 26 per cent of B.C. homeowners have a rental suite or laneway home compared to 7 per cent in Ontario, 6 per cent in Manitoba, 5 per cent in Alberta and 3 per cent in Saskatchewan. Square One warns that having a tenant can affect a homeowner’s insurance coverage. (via Canadian Underwriter)

Spilling effect
B.C.’s energy and mines minister, Bill Bennett, is in Alaska trying to reassure concerned residents that a Mount Polley-type spill would not affect them. He plans to meet with state officials, tribal groups and representatives from commercial fishing, tourism and environmental organizations to strengthen relationships and discuss ways B.C. and Alaska can work together to ensure the protection, conservation and enhancement of the shared environment. The groups say what is needed is not information but concrete measures to protect Alaska’s water and fish, including bonds to cover another Mount Polley-type accident, compensation if Alaskan interests are harmed and a study on the long-term effects of mining. They also want regulations enforced by the International Joint Commission, a Canadian-American organization working to protect shared waters. (via Globe and Mail) 

Island LNG Part 2
About that LNG project between Malahat First Nation and Steelhead LNG—turns out, it will be a “floating liquefaction facility” moored off the land “formerly known as Bamberton” south of Mill Bay on Vancouver Island. The project is expected to generate up to 30 years of revenue for local, provincial and federal governments during construction, operation and decommissioning, plus up to 200 high-paying long-term positions once it’s up and running, according to a release posted Thursday. The industrial-zoned land has hosted a cement manufacturing facility for more than 100 years and is currently being used as a rock quarry and for other industrial uses.