Special Assessment
Additional fees charged to Victoria BC strata owners for major repairs or improvements not covered by regular strata fees. Can significantly impact ownership costs.
Contingency Fund
Reserve money set aside by Victoria BC strata corporations for unexpected repairs or emergencies. Well-funded contingency funds indicate good building management.
RE/MAX Camosun
Local RE/MAX franchise serving Greater Victoria BC. RE/MAX is a global real estate network providing agents with marketing support, training, and brand recognition.
Realtor
Licensed real estate professional in Victoria BC who is a member of the Canadian Real Estate Association and bound by their code of ethics. Helps buyers and sellers navigate transactions.
Listing Agent
The real estate professional representing the seller of Victoria BC property. Responsible for marketing the property, managing showings, and negotiating on the seller’s behalf.
Buyer’s Agent
Real estate professional representing the buyer in Victoria BC property transactions. Helps find suitable properties, arrange viewings, and negotiate purchase terms.
Dual Agency
When the same Victoria BC real estate agent represents both buyer and seller in a transaction. Requires careful disclosure and management of potential conflicts of interest.
Commercial Real Estate
Properties in Victoria BC used for business purposes, including retail, office, industrial, and investment properties. Different market dynamics and regulations than residential.
Investment Property
Victoria BC real estate purchased primarily for income generation or capital appreciation rather than personal residence. Includes rental properties and development opportunities.
Rental Income
Money earned from tenants occupying your Victoria BC investment property. Must comply with provincial tenancy laws and is subject to income tax.