Question: "What is a Phase 2 Property" ?

Phase 2 properties typically refer to hotel condos. You might see them in the listings online for $100,000, $150,000 or even $200,000, and you think "WOW, that looks AMAZING! ... Why is it so cheap?" 

Well, the reason is that with a Phase 2 restricted condo you are only allowed owner use of 28 days in the winter and 28 days in the summer and there are a host of other factors that play into it as well. See the full list here

For the remainder of the year, you can have the property management company (ie: the hotel) run it for you. However, for their use they take on average, around 40% of the gross revenue as a management fee. 

Also, keep in mind that you still have to pay for things like: 

  • Property taxes, 
  • Strata fees, 
  • Homeowner association dues,
  • Tourism Whistler fees

As the hotel occupancy rate have risen in Whistler over the past few years, these condos have begun to return in the 2-4% ROI range lately depending on the building. In the past you would have been lucky to break even after all the above expenses were paid.

If you have any questions regarding Phase 2 Properties in Whistler, certainly give me a call, I'd be happy to help you out! 

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