Victoria Real Estate Agent Fined $200K for Buying, Renting Out Affordable Rental Unit
The regulator said Jason Alexander Leslie violated program rules by buying a subsidized unit, renting it out and earning a commission.
- On Monday, August 24, the B.C. Financial Services Authority suspended Victoria real estate agent Jason Alexander Leslie for six months and fined him $200,000 for misusing an affordable housing program.
- Leslie purchased a unit at the Vivid at the Yates building in 2018 and violated covenants by renting it out after taking possession in 2021, despite the property being required as his primary residence.
- Further investigation revealed Leslie represented himself as his own agent during the purchase and earned a 3 per cent commission on the first $100,000 and 1.5 per cent on the balance, which the BCFSA deemed "wrongful taking or deceptive dealing."
- Jon Vandall, senior vice-president of financial professionals at BCFSA, said the penalty sends a "clear message" that exploiting programs erodes public trust, while Leslie must complete one year of "enhanced supervision by a managing broker."
- The B.C. government has filed 13 lawsuits against other owners accused of skirting income thresholds at the Vivid, a development built with a $53 million government loan intended for moderate-income families.
11 Articles
11 Articles
Victoria real estate agent fined $200K for buying, renting out affordable rental unit
A Victoria real estate agent had his licence suspended and is facing a six-figure fine after purchasing an affordable rental unit and renting it out, despite knowing the rules against it. In a consent order released on Aug. 14, the BC Financial Services Authority (BCFSA) said Jason Alexander Leslie admitted to purchasing a unit at the “Vivid at the Yates,” which was developed as part of a pilot project between the private sector and the B.C. gov…
Sooke News Mirror
Victoria real estate agent fined $200K for buying and renting out affordable housing
Victoria real estate agent Jason Leslie was handed a $200,000 fine and a six-month licence suspension after the BC Financial Services Authority (BCFSA) found he committed professional misconduct and conduct unbecoming of a licensee under the Real Estate Services Act. According to a decision from the authority on Aug. 14, Leslie bought a one-bedroom apartment in the Vivid at the Yates building on Johnson Street in 2018. The development was part o…
B.C. real estate agent fined $200K, suspended after buying and renting out affordable housing unit
A Victoria real estate agent has been fined $200,000 and had his licence suspended for six months after he bought an affordable housing unit and rented it out, according to a consent order posted by the B.C. Financial Services Authority.
B.C. real estate agent suspended, fined $200K for buying and renting out affordable housing
A Victoria-area real estate agent has been suspended from the profession for six months and fined $200,000 after being found to have violated the rules of an affordable homeownership program. The B.C. Financial Services Authority stated Aug. 24 that, under a consent order, Jason Alexander Leslie agr...
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