More B.C. developers offering ‘lock-off’ suites that divide a unit into two for flexibility, affordability
Lock-off suites aren’t new, but their use in multi-family developments across Metro Vancouver is moving from townhomes to apartments, offering homeowners flexibility and a possible revenue stream if they rent them out.
All developments in Surrey are required to have 10 per cent of units dedicated to three-bedroom units since it’s a city with many families. But these are also more expensive to buy.
In response to this, StreetSide vice-president Jonathan Meads said they came up with the idea of offering three-bedroom units that have a lock-off suite so that one studio room can be used by a family member or rented out as a mortgage helper. The idea was approved by the city.
“There are two self-contained units, with separate keys, and we fit in two (sets of) washer and dryers,” said Meads. “It’s a way for families to rent out a room or later age in place.”
Meads said they could have doubled the number of these, considering the initial interest in them.
In Coquitlam, a proposed zoning bylaw change last fall to allow for lock-off suites in zones near SkyTrain stations sparked conversation about their impact on affordability.