Downhill Skiing Delights:

Are you ready to carve your way through some of the most breathtaking slopes in the world? Look no further than the Bow Valley, home to premier downhill skiing destinations like Nakiska, Norquay, Sunshine, and Lake Louise.

• Nakiska Ski Area: Host to the 1988 Winter Olympics, Nakiska offers 79 runs for all skill levels and a tube park, set against the stunning backdrop of Kananaskis Country.

• Mount Norquay: Located near Banff, Mount Norquay boasts challenging terrain across four mountain faces, along with panoramic views of Banff National Park.  Norquay offers tubing for those not looking to hit the slopes but want a quick adrenaline hit and night skiing on weekends.

• Sunshine Village: With abundant snowfall and vast terrain, Sunshine Village promises unforgettable powder days and thrilling chutes.  Sunshine also offers some great ‘slack-country’ skiing so if you have Avalanche training & equipment, bring your skins & beacon to head out of bounds when safe to do so.

• Lake Louise Ski Resort: Nestled in Banff National Park, Lake Louise features diverse terrain across 4,200 acres, making it a favorite among skiers and snowboarders alike.

Cross-Country Skiing Serenity:

While the Bow Valley is renowned for its downhill skiing, it also offers a haven for cross-country skiing enthusiasts, with the crown jewel being the Canmore Nordic Centre.

• Canmore Nordic Centre: Situated just minutes from downtown Canmore, the Canmore Nordic Centre is a world-class facility that hosted the Nordic events during the 1988 Winter Olympics. Boasting over 65 kilometers of meticulously groomed trails, the Centre caters to skiers of all abilities, from beginners to elite athletes. With its stunning mountain backdrop and variety of terrain, the Canmore Nordic Centre provides a picturesque setting for a day of cross-country skiing.

• Banff National Park: For those seeking a wilderness experience, Banff National Park offers an extensive network of track-set trails that wind through pristine forests and meadows. From easy loops to challenging routes, there's something for everyone to enjoy amidst the breathtaking scenery of the Canadian Rockies.

• Peter Lougheed Provincial Park (PLPP): Venture into the heart of Kananaskis Country and discover the beauty of Peter Lougheed Provincial Park. With well-maintained trails that traverse a diverse landscape of forests, lakes, and alpine meadows, this park offers an ideal setting for cross-country skiing adventures.

• Mount Shark: Located south of Canmore, Mount Shark is a hidden gem for cross-country skiers. With its remote location and stunning mountain vistas, Mount Shark provides a peaceful escape from the crowds, allowing you to immerse yourself in the beauty of the backcountry while exploring its groomed trails.

Whether you're gliding through the manicured tracks of the Canmore Nordic Centre or exploring the pristine wilderness of Banff National Park and beyond, cross-country skiing in the Bow Valley offers a serene and rejuvenating experience amidst some of the most spectacular scenery in the world. Nordic Pulse is a great resource to see current grooming and trail conditions.

Backcountry Bliss (with Caution):

For those seeking a more adventurous skiing experience, the Bow Valley and Canadian Rockies offer unparalleled opportunities for backcountry ski touring and splitboarding. However, it's essential to remember that venturing into the backcountry requires advanced skiing abilities and a thorough understanding of avalanche safety.

Before embarking on any backcountry adventure, be sure to familiarize yourself with avalanche awareness and practiced rescue knowledge, proper equipment, and always check the Avalanche Forecast & Weather Conditions before heading out. With the right skills and precautions, backcountry skiing in the Bow Valley can be an exhilarating and rewarding experience, allowing you to explore untouched powder and breathtaking landscapes far from the crowds.  AST1 is a must and AST2 is recommended, click here for current course offerings.

Whether you're drawn to the adrenaline rush of downhill skiing, the serenity of cross-country skiing, or the thrill of backcountry exploration, the Bow Valley offers something for every winter enthusiast. So grab your skis or snowboard, and get ready to discover the winter wonderland that awaits in this spectacular corner of the Canadian Rockies.

Please note for Nakiska, the Canmore Nordic Center, PLPP & Mount Shark, a Kananaskis Conservation Pass is required to park your car at any of these locations.  For Norquay, Sunshine, Lake Louise and any cross-country trailheads in Banff National Park (including the Town of Banff & Lake Louise Village & Lake), a Discovery Pass is required to park in any of these locations.  Passes for both Kananaskis and the National Parks can be purchased ahead of time or on the way to your location.  At the time of publishing this blog post, a daily family National Park pass is $22 or annual is $151.25 so if you are going to go into any of the National Parks (Banff, Kootenay, Yoho, etc.) more than 7 days in a 12 month period, it’s best to buy the annual pass and the Kananaskis Pass is $15 for the day or $95 for the year so again, you only need to go 6 days in a 12 month period to make it worthwhile just to buy the annual pass.  If you are visiting both areas, you need both passes - the Kananaskis Conservation pass and the National Discovery Pass are independent of each other - which is especially fun if you’re hiking to Assiniboine via Sunshine to Mount Shark and you car drop at both locations.. and have to have both park passes.

Hey Canmore neighbors! Let's talk trash—literally! Living in the mountains is a dream, but managing our waste can sometimes feel like navigating a maze. Fear not, for today we're diving into the world of municipal garbage, recycling, and compost collection in our beloved town, along with some cool tidbits about the Large Item Pick-Up program and the Boulder Crescent Recycling Depot.

Sorting Out the Basics: Garbage, Recycling, and Compost Collection

Canmore takes its waste management seriously, and for good reason. We all want to keep our little slice of mountain paradise pristine - not to mention, a fed bear is a dead bear! The town operates a comprehensive system for garbage, recycling, and compost collection. It's all about separating the goods to ensure they get the proper treatment they deserve.

First and foremost, there is no such thing as curb-side pick-up.  Which means you never have to worry about forgetting to put your bins out the night before!  Instead, bear-proof garbage, recycling (paper, glass & metals) and compost bins are strategically placed throughout residential neighbourhoods and you just walk (or drive ;)) your full bags or bins whenever they fill up. This ensures both convenience for residents and mitigates the risk of attracting wildlife where it’s not safe for them to be.  There is a larger recycling center between SaveOn Foods & Canadian Tire too - here you will also find donation bins for lightly used clothing and household items.  If those daily Amazon deliveries are adding up and you’re going to overload your neighbourhood bin, please consider driving it down to the larger bins which are also emptied more frequently #neighbourly.

Large Item Pick-Up Program: Out with the Old!

Got an old couch that's seen better days or a mattress that's begging to be replaced? Say hello to Canmore's Large Item Pick-Up program! It's the perfect solution for those bulky items that just won't fit in your regular bins. You simply need to fill out the form on their website to schedule the large item pick up service. It's like a mini furniture rescue mission right at your doorstep! And better yet, it’s FREE once a year! (Learn from my mistake: Mattress collection is only on Mondays so book early for mattress pick up).

Boulder Crescent Recycling Depot: Where Recycling Gets Serious

Now, let's talk about the hidden gem of waste management in Canmore—the Boulder Crescent Recycling Depot. This place is a recycling enthusiast's paradise!  Need to drop off more than your standard recyclables?  They accept items like electronics, household hazardous waste, bike tires, car batteries, used oil & antifreeze and more. It's a one-stop-shop for all things recycling!

Pro tip: Before heading over, check out the guidelines on the town's website to ensure you're bringing in the right stuff. Let's keep it green, folks!

Canmore Bottle Depot: A Little Extra Change in Your Pocket

Just up the road from the Boulder Crescent Recycling Centre is the Canmore Bottle Depot.   In Alberta, eligible drink containers take a refundable deposit whenever you purchase one and you need to take the empty bottles/cans to a bottle depot to get the deposit back.  The Canmore Bottle Depot ensures a seamless process for residents eager to redeem their refundables.  So, the next time you finish that refreshing drink and they start piling up, check out the Canmore Bottle Depot to make your contribution to a greener community while enjoying the added perk of a refundable return. Cheers to recycling made easy!  Open 9:30am-4:30am Tuesday-Saturday.

So, there you have it, Canmore pals! Managing our waste doesn't have to be a headache, even if we do it a little different than you’re probably used to to keep our wildlife safe. With the town's efficient garbage, recycling, and compost collection system, coupled with the awesome initiatives like the Large Item Pick-Up program and the Boulder Crescent Recycling Depot, we can all do our part in keeping our mountain haven clean and green. Happy recycling!

If you haven’t bought a condominium before, or any property for that matter, you’ve probably never seen a purchase contract.  It’s a pretty important piece of the puzzle when you’re looking to buy a property so let’s not wait until you’re ready to write an offer to start getting familiar with it.  Here is a brief overview of the general terms and conditions: 

The first bit of information we will need to include is the legal names of anyone going on the offer, who will also be on title assuming you go firm on the purchase.  This means what it says on your ID has to match - spelling and all - not an alias or preferred name, including your parents or anyone else who needs to be on it need to be on it for financing purposes, or if you are buying it under your business/corporation name/number (which will require proof of signing authority so we know that you have the right to act on behalf of the company).

1. THE PROPERTY

• 1.1(a): Describes the specific details of the condo unit, including address, project name, and legal information.  I '(or your Realtor) will fill this out, referencing the Title, ensuring accuracy.

• 1.1(b): Outlines parking and storage details - might be titled or assigned, your Realtor will fill this out

• 1.1(c): Mentions any unattached goods - this includes any appliances, window coverings, keys, furniture, electronics, anything you expect to stay with the property on moving day and is negotiable (meaning the seller could strike or add certain items they intend on keeping or leaving).  If there is any gray area with attached vs. unattached goods (common ones are TV & wall mount, garage shelving, etc.), it’s better to itemize it out if you have strong feelings one way or the other to make sure there is no confusion or disappointment on moving day

• 1.1(d): Specifies excluded attached goods - this is often left blank, it could include something like a light fixture (ie. chandelier) that is a family heir loom and the seller plans on taking & may offer to replace with something else that matches the rest of the decor. If there is something intended to be excluded that is typically left behind on move out, the seller usually discloses that at the showing stage so we can prepare the offer properly, or if there is something you very specifically want removed, we will include it here and follow up with verbal communication to the Seller’s Agent to make sure they don’t miss it since it’s commonly left empty.

2. PURCHASE PRICE AND COMPLETION DAY

• 2.1: States the purchase price - this is ‘the number’ that matters the most, it’s what you’re offering and the seller may counter before hopefully coming to an agreement and moving forward to an accepted offer.

• 2.2: Confirms if the price includes taxes - most residential re-sale does not need to acknowledge GST in the price.  Only new construction, a ‘flipped’ property that has been extensively renovated to sell, short term rentals (looked at as commercial properties by CRA) and commercial property does assess GST in the sale.  Only condominiumized short term rental properties (Airbnb/VRBO style rentals) use the contract we are currently breaking down, the others will be on a different contract which we are not looking at right now.  Feel free to reach out if you wanted to talk more about GST and when it does and doesn’t apply, the above is an overly simplified ‘list’. 

• 2.3: Specifies the completion day - aka moving day.  Your Lawyer will need to have all your down payment funds + lender instructions by today at the latest and you will get keys and can start moving in that afternoon… assuming all goes to plan.  The Seller could counter this if they have a specific date in mind.  It has to be a business day where the banks & lawyers are working.

• 2.4: Ensures the property's condition remains the same on completion day and all goods (attached or unattached) must be in good working order - this term is my favorite term to point out.  It is what protects Buyers but also sets expectations. The property DOES NOT have to be in BETTER condition than when you achieve an accepted offer.  It is not a new build (or it wouldn’t be on this contract) so it will have a little wear and tear; it can’t be in worse condition but it doesn’t have to be in better condition either.  If you are concerned about the cleanliness or negotiate that the seller will replace something like the carpet or re-paint a damaged wall, these things need to be included under 9.3) Other Terms or there is little recourse on the completion day if the property is, for better or worse, in substantially the same condition as it was on acceptance.  That being said, the appliances, as the included unattached goods, need to be in good working order so if we show up on the completion day and the fridge is not working, we can expect a remedy to that because of this term. 

3. GENERAL TERMS

• 3.1: Lists general agreements, including the use of agents, applicable laws, time sensitivity, and mutual responsibilities.

• 3.1(f): Requires the seller to disclose significant known defects (the word ‘known’ is key, if a seller isn’t aware of an issue, they can’t disclose it.  This is a big reason a home inspection is a good idea, you might find something the seller had no clue about before you brought it to their attention.  Once they know about it, there are requirements for remedy or we negotiate a term to ensure the seller addresses the issue prior to closing or a price reduction but all these things require it being or becoming a known/disclosed issue).

• 3.1(h) and 3.1(i): Outlines due diligence responsibilities for both parties.

• 3.1(l): Emphasizes the importance of reading and seeking advice before signing.

• 3.1(m): Allows brokerages and listing services to use transaction information.

• 3.1(n): Establishes who will provide contract and related documents/information to the Lawyers.  This is typically the Seller’s brokerage unless they are unfit to do so or there is some other reason to assign it to the Buyer or a Law Firm.

4. DEPOSITS

• 4.1: Establishes terms for deposit trust.

• 4.2 to 4.8: Details deposit-related procedures, responsibilities, and disbursements. 

  • The Seller’s Brokerage typically holds the deposit funds unless they are unfit to do so (like in a For Sale by Owner deal) and we assign it to the Buyer’s Brokerage or a Law Firm.

  • The Deposit is held in trust and is typically around 5% of the purchase price to show capacity - over simplifying here, but if you can’t come up with 5% you can’t get a mortgage so showing the Seller you have that ready to go is a show of confidence.  

  • The Deposit typically needs to be guaranteed funds (bank draft or wire transfer), personal cheques, e-transfers and global money transfers are not guaranteed so most brokerage policies won’t accept those forms of payment.

  • The Deposit is returned to the Buyer if they are unable to waive conditions by the specified date.  If you are successful at waiving conditions and proceed with the purchase (go firm), the funds are forwarded from the holding brokerage to the Lawyers to make up part of the purchase funds on the completion day.

5. LAND TITLE

• 5.1: Ensures the property title is free of certain encumbrances.

6. REPRESENTATIONS AND WARRANTIES

• 6.1: Seller assures legal right to sell, non-resident status, and truth of representations.

• 6.2: Specifies the timeline and enforceability of representations.

7. DOWER

• 7.1: Addresses potential dower rights and the need for specific documentation.  Dower Rights are only applicable if there is only 1 seller on title and that person is legally married and their spouse has spent the night in the property at some point throughout their marriage.  The Seller will determine if Dower Rights apply and if they do, the non-titled spouse will be included in the sale.

8. CONDITIONS

• 8.1: Requires reasonable efforts to fulfill conditions.

• 8.2 to 8.4: Outlines buyer's and seller's conditions and the process for satisfaction or waiver.  Condo doc review, home inspection and financing are typical but additional conditions could be relevant depending on your situation.  If you have a financing condition the ‘typical’ condition period is 2 full weeks, if you don’t need financing, you can generally shorten that as home inspectors and condo doc review specialists generally have availability within a few days of reaching out to them.  A shorter condition period is more attractive to Sellers and a way to ‘strengthen’ your offer in a competitive marketplace but you need to make sure you have enough time to do your due diligence and feel comfortable moving forward or not.

9. ATTACHMENTS AND ADDITIONAL TERMS

• 9.1: Lists attached documents forming part of the contract - This is often not needed, it would be typical if you are assuming tenancy or have a Sale of Buyer’s Home Condition and need to include a property schedule.

• 9.2: This is the amount for the condo fee & any additional known fees.  Your Realtor will fill it out and is generally disclosed in the listing.

• 9.3:  Other Terms - we can include any extras that aren’t already covered with the general terms and conditions.  One standard one is a include a walkthrough term on the morning of the completion day to confirm the property is in at least the same condition as when the offer was accepted and all the included goods are in good working order.  If we need a professional cleaning term or anything else, we will add it as appropriate.

10. CLOSING PROCESS

• 10.1 to 10.12: Details the closing process, including document delivery, payments, costs, and potential delays.

11. INSURANCE

• 11.1: Addresses the party responsible for property insurance until the purchase price is paid.

12. REMEDIES

• 12.1 to 12.3: Describes potential remedies in case of contract default.

13. NOTICE AND DOCUMENTS

• 13.1 to 13.4: Clarifies notice procedures and the use of electronic signatures.

14. AUTHORIZATION

• 14.1 to 14.3: Authorizes representatives for notice purposes.

15. CONFIRMATION OF CONTRACT TERMS

• 15.1: Confirms the completeness and exclusivity of the contract.

16. LEGAL OBLIGATIONS BEGIN

• 16.1: Specifies when legal obligations begin and their binding nature.

17. OFFER

• 17.1: Formalizes the buyer's offer and its acceptance timeline.  The offer has to have a timeline for response so we will give the seller usually around 24 hours to respond and if they don’t reply in that timeframe, the offer automatically becomes null and void.  If they counter, they will generally extend the time so you have time to reply back after receiving the new contract terms back.

18. ACCEPTANCE

• 18.1: Confirms the seller's agreement to the terms.  If the Seller counters (changes) anything, the Buyer will have to initial off on those changes to confirm acceptance.  The offer is not accepted until all parties agree to all terms by way of written (initialed) acknowledgement. 

This breakdown should help the buyer, with the guidance of their Realtor, understand the key aspects of the condominium purchase contract before signing. It's important to seek legal advice and clarification on any terms that may be unclear.  As always, I am happy to dive deeper into any of the topics brought up in this blog post or anything else you have questions about in regards to the Buying and Selling process in Alberta.

British Columbia (really most of Canada) is grappling with a severe housing crisis, marked by a shortage of affordable long-term rentals and attainable housing options. This crisis is significantly exacerbated by the rise of short-term rentals, where over 16,000 entire homes are being used for this purpose, making it increasingly challenging for residents to secure affordable housing. In response, the BC government has introduced the Short-Term Rental Accommodations Act to alleviate the housing crisis by returning valuable housing inventory to the long-term rental market. These new regulations have the potential to ripple into Alberta, as investors may seek opportunities beyond BC's borders and international visitors may look for more stable and affordable rental opportunities when planning a trip to Canada.

BC's Housing Crisis

The scarcity of affordable housing, including long-term rentals, has become a pressing issue in British Columbia. Short-term rentals, particularly entire homes, are viewed as a major contributor to the problem, occupying housing units that could otherwise serve residents seeking stable accommodations. Local governments have taken steps to regulate short-term rentals, but enforcement of these bylaws remains a challenge, prompting a call for additional resources and tools.

Primary Goals of the Legislation

The newly introduced regulatory measures have three key objectives:

1. Returning Units to the Long-Term Rental Market: The most critical goal is to return short-term rental units to the long-term rental market. By achieving this, British Columbia hopes to mitigate the housing shortage, ensuring that more affordable housing options become available to residents through existing dwellings with new construction and development opportunities not keeping up with current demand.

2. Empowering Local Governments: These regulations aim to provide local governments with the tools needed to enforce short-term rental bylaws effectively. This empowerment allows local authorities to address the housing crisis at the community level.

3. Provincial Oversight: These regulations establish a provincial role in the oversight of short-term rentals, ensuring that standards and compliance are consistent across the province.

Scope of the Regulations

The new rules encompass all short-term rentals offered to the public, including various platforms like Airbnb, VRBO, Expedia, and other web listings such as Facebook Marketplace, Kijiji, and Craigslist.  However, specific exemptions include reserve lands, Nisga’a Lands, Treaty Lands of a Treaty First Nation (unless a coordination agreement is established with the Province), hotels, and motels.  The new legislation doesn’t apply to any municipalities with a population of less than 10,000 that aren’t immediately adjacent to larger municipalities (ie. greater Vancouver area), any of the 14 designated resort communities (Fernie, Golden, Harrison Hot Springs, Invermere, Kimberley, Osoyoos, Radium, Revelstoke, Rossland, Sun Peaks, Tofino, Ucluelet, Valemount, and Whistler) or are an Agri-tourism business. 

Key Changes and Implications

The new regulations introduce several significant changes, including:

1. Strengthened Enforcement Tools: Regional districts will witness a substantial increase in the maximum fines for bylaw violations, rising from $2,000 to up to $50,000. This aligns with municipalities under the Community Charter, equipping local governments with more robust enforcement capabilities.

2. Business Licensing Authority: Regional districts will gain the authority to regulate and license short-term rentals, similar to municipalities, under amendments to the Local Government Act. This ensures a uniform approach to regulation.

3. Display of Business License: In areas where a business license is required, short-term rental hosts must display a valid business license number on their listings, enhancing transparency.

4. Platform Accountability: Listings without a valid business license, where required, must be removed by the short-term rental platform at the request of the local government.

5. Data Sharing: Short-term rental platforms are obligated to share listing information with the Province, which is then shared with local governments to facilitate effective bylaw enforcement.

Returning Units to Long-Term Rental Market

To fulfill the goal of returning units to the long-term rental market, the regulations implement a provincial principal residence requirement. This requirement limits short-term rentals to the host's primary residence, along with one secondary suite or accessory dwelling unit. The principal residence requirement applies province-wide in municipalities with a population of 10,000 and over, and adjacent communities.

Exemptions for specific areas or accommodation types may be defined in future regulations. Local governments can also request to "opt in" to or "opt out" of the principal residence requirement, depending on local vacancy rates.

Provincial Oversight

To ensure compliance with the new rules, the Province will establish a short-term rental registry. Hosts will need to include a provincial registration number on their listings, along with their business license number if required. Short-term rental platforms must validate these numbers against the provincial registry data.

Additionally, a provincial compliance and enforcement unit will be established to track compliance, issue orders, and administer penalties for violations.

Implications for Alberta

The introduction of these regulations in BC has sparked discussions about potential implications for Alberta's real estate landscape. As investors in BC navigate the changing regulatory environment, Alberta may emerge as an attractive destination for those seeking new opportunities in the short-term rental market. The possibility of a more stable regulatory environment in Alberta, combined with the potential for increased demand in this sector, could lead to investors selling their BC properties and venturing into Alberta or other parts of Canada.  The stringent limitations on short-term rentals in BC may divert tourism dollars to other regions in Canada, like the Bow Valley, where a wider range of more affordable accommodation options are available, potentially attracting more visitors and bolstering local tourism economies.

If you are looking to purchase a vacation rental property in Canmore, you may want to secure a purchase sooner than later in the event that we do see an influx of BC investors looking to move their for profit housing investments to other markets. 

For prospective homebuyers in Canmore, the impact of BC investors shifting their focus to the Bow Valley should be minimal. Canmore has been proactive in addressing short-term rentals long before online platforms like Airbnb and VRBO became popular. The town's Land Use Bylaws have already established clear guidelines for short-term rentals – a property must have "Visitor Accommodation" or "Tourist Home" designated as a permitted use. Licensing requirements, much like those soon to be introduced in BC, have been in place for years. These regulations are aimed at preserving existing residential inventory from being converted into short-term rentals and safeguarding long-term renters from potential displacement by landlords seeking higher profits through short-term rentals. While tackling the housing crisis is crucial, Canmore's unique challenges are driven by various factors, including residential properties that remain vacant and a focus on Visitor Accommodation developments rather than residential ones, which does not effectively address the town's supply issue or provide affordable housing for its residents. Adopting a similar approach to BC's Short-Term Rental Accommodation Act wouldn't provide a viable solution to Canmore's housing crisis, as the town has already implemented similar control mechanisms to prevent or discourage the conversion of long-term rentals into short-term ones.

Conclusion

BC's new regulations for short-term rentals represent a concerted effort to address the housing crisis by returning valuable housing inventory to the long-term rental market. While the impact on BC's real estate and tourism industries is evident, the implications for Alberta may include an influx of investors looking for more favorable conditions. As these regulations unfold over the next two years, it's essential to stay informed about how they shape the real estate landscapes in both provinces, working toward a balance that benefits residents, investors, and the broader community.