It seems that Saskatoon has one of the most generous condo conversion policies, if you’re a landlord that is.
Saskatoon city administrators are working hard to bring about a policy change in the city of Saskatoon. They’ve recommended a number of changes that they say would protect tenants from being displaced at times when vacancy rates are exceptionally low.
Their research had them comparing the policies which exist in other Canadian municipalities that have experienced real estate booms in recent years and they found that in most areas it’s quite a bit tougher to convert apartments to condos when rental conditions are tight. Vancouver, Victoria, Ottawa, and Kelowna all prohibit conversions when vacancies fall below a minimum threshold which ranges from 2-4%. No such policy exists in Saskatoon.
The executive committee responsible for reviewing recommendations brought forward by city administrators has tabled discussion on the suggested policy changes until after a March 11 court challenge initiated by tenants of Saskatoon’s Milroy Apartments which was recently approved for conversion.
Read the Star Phoenix coverage here.
I’m always happy to answer your Saskatoon real estate questions.
All of my contact info is here. Please feel free to call or email.
Norm Fisher
Royal LePage Vidorra
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