“Victoria Real Estate Agent Fined $200K for Affordable Housing Violation”

A Victoria real estate agent faced a $200,000 fine and a six-month license suspension for purchasing an affordable housing unit at the Vivid condominium building in downtown Victoria in 2021 and subsequently renting it out, as revealed in a consent order released by the B.C. Financial Services Authority (BCFSA). The agent, Jason Leslie, acquired a 505-square-foot one-bedroom property at the Vivid without meeting the qualifications set for buyers, which mandated that units be sold below market rates to primary residents only. The Vivid development, supported by a $53-million loan from the province, aimed to assist individuals with gross annual incomes below $150,000 in owning affordable homes. Leslie eventually sold his unit back to B.C. Housing after being notified by B.C. Housing in March 2022 that he was ineligible to purchase the property. The BCFSA found Leslie guilty of professional misconduct for representing himself in the transaction and not intending to use the unit as his primary residence. As a result, his real estate license was suspended for six months, with a subsequent 12-month period under the supervision of another licensed broker. Despite attempts to contact Leslie for comments on the matter, his office staff stated uncertainty regarding his availability for an interview.