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Corporations and Realtors
One of the biggest industries in B.C. is real estate development, and many leading-edge real estate companies are based here. Lohn Caulder has enjoyed excellent market share in this particular aspect of the economy. In fact, this industry was one of our first “market niches” when we were established in 1981.
Real Estate professionals were among the last to be approved for incorporation, via the “personal real estate corporation” rules, prescribed by the Real Estate Council of B.C.
Previously, independent agents were denied the benefits of incorporation, which is a curiosity, given that one of the ‘acid’ tests of “independent contractor” status (generally needed, if you wish to be incorporated) is uncertainty as to profit or loss. We would humbly observe that any realtor who fails to sell any real estate is almost certain to realize a loss!
For real estate professionals, suffice to say, the low-tax rate benefits of corporations discussed elsewhere in this section of our website apply equally to real estate professionals.
Types of real estate activity that Lohn Caulder deals with:
Lohn Caulder has many real estate professionals in our clientele.
They do some of the following things:
- Development of real estate for sale or lease.
- Sell real estate for third-party vendors.
- Operate a real estate brokerage.
- Manage the rental of real estate on behalf of owners.
- Manage the operation of strata corporations, for properties subject to the strata title act.
- Locate (as finders) real estate opportunities for developers, and otherwise consult to developers.
- Conduct feasibility studies and consult generally with retail and commercial property and shopping centre owners.
- Finance the construction of, and long-term investment in, real estate via mortgages or other hybrid instruments.
- Assemble properties under contract for rezoning and development approval.
- Design and build to client specifications.
- Landscape architects and ‘green building’ consultants.
- Manage the construction phase of a building and co-ordinate all contracts, and sub-trades, including cost control and budgeting.
Trust Account Audits
Some of the activities of real estate professionals involve trust accounts. When such is the case, the trust activities must be audited. Lohn Caulder is well experienced in performing such audits – we’ve performed hundreds of them over the years.
