Understanding Whistler’s Phase 1 and Phase 2 Property Covenants

Whistler is consistently ranked one of North America’s top ski resorts for a reason. With endless year-round recreational activities, stunning views and glacier lakes, world-class dining, events and activities, with a vibrant Village with all your daily-living amenities – all conveniently located within 2 hours of Vancouver’s International airport.

If you are considering purchasing a property in Whistler as an investment opportunity with the intention of renting it out, you will encounter some unique property covenants designed to bolster the supply of tourist accommodations in Whistler. Two key designations you will need to know and understand the difference between are Phase 1 and Phase 2 properties, and most importantly which type of property makes the most sense for you. Are you looking to use the property a few times a year? Would you like the option to live in it full-time and rent it out nightly when it’s not in use? These are all things to consider prior to searching for your slice of Whistler real estate heaven.

While Phase 1 and Phase 2 property types have some general rules that apply to them, there are always nuances and exceptions to those rules, so it is important to work with a local agent to help you navigate the landscape.

Whistler Phase 1 Properties

With a Phase 1 property in Whistler, the owner has unlimited use. Generally speaking, this means the owners can occupy the property year-round or can choose to rent it out either long-term or on a nightly basis. Phase 1 properties are typically townhouses and some condos found in larger condo buildings throughout Whistler Village and the Benchlands. Based on the details of the covenants, if the property is not owner-occupied it may need to be made available for rental. Something else to consider in this situation is that the Strata rules may also require you to use a particular rental management company.

Whistler Phase 2 Properties

Phase 2 property usage is much more restrictive than the use of Phase 1 properties. The owner is restricted in usage to 28 days in summer and 28 days in winter. How and when the property can be used, including the potential for additional owner use, is detailed in the covenants. The owner owns the full property but must book their personal use days in advance and place the property in the integrated rental pool which is managed according to the strata and chosen rental management company for the rest of the time. Phase 2 properties are typically located in hotel complexes for example: The Four Seasons Resort Whistler, The Westin, Whistler Village Delta Inn and Suites, and the Pan Pacific hotels, to name a few.

Phase 2 properties are generally considered commercial ventures and are taxed at a commercial rate.  You will need to check with each individual property to find out if the revenues are pooled (all the property) or individual.  Similar-looking properties will have a large variation in price depending on how the rental contract works and how much revenue is left at the end of each year for the owners.

Whistler Investment Property Search

When it comes to navigating the complexities of Whistler real estate market, it is important you seek out the advice and expertise that can only be found when using a local real estate agent. With over 150 years of combined knowledge, our full-time Whistler Real Estate Company agents handle an abundance of investment real estate transactions and can help ensure you’re purchasing the right property that suits your needs and wants.