A real estate agent in Victoria has been penalized with a $200,000 fine and a six-month suspension of his license for purchasing an affordable housing unit and renting it out, as stated in a consent order released by the B.C. Financial Services Authority (BCFSA). The agent, Jason Leslie, acquired a unit at the Vivid condominium building in downtown Victoria in 2021 without meeting the necessary qualifications. Despite the property being designated for below-market sales to residents and not allowing rentals, Leslie proceeded to rent out the unit for over eight months.
An investigation by CBC News in 2024 revealed that multiple individuals, including Leslie, were accused by B.C. Housing of purchasing units at the Vivid while owning other high-value properties. Leslie purchased a 505-square-foot one-bedroom unit at the Vivid in February 2018. The development, funded with a $53-million loan from the province, aimed to provide affordable homeownership opportunities to those with lower incomes.
Under the affordable home ownership covenant, only individuals earning less than $150,000 annually and willing to make the unit their primary residence were eligible to purchase a unit at the Vivid. Leslie took possession of his unit in May 2021 and rented it out the following month. B.C. Housing notified him in March 2022 that he was not eligible to own the unit after conducting an audit.
Leslie acted as an agent for the sale of three units in the Vivid development, including his own. He later sold his unit back to B.C. Housing in September 2022, along with the rental income and commission earned from it. The BCFSA determined that Leslie engaged in professional misconduct by representing himself as an agent and purchasing the affordable housing unit without the intention of residing there.
As a result, his real estate license has been suspended for six months, and upon reinstatement, he will be under the supervision of another broker for an additional 12 months. CBC News attempted to contact Leslie’s office for comments but was informed by a staff member that his availability for an interview was uncertain.