The short answer: before you buy a rental property in BC, ask the realtor who they represent (dual agency is banned in BC except in remote areas), what the sitting tenants actually pay and since when, what the permit history shows, how much of the price depends on future rent growth, and how the three-business-day cooling-off period works on your offer. The answers tell you more about the deal, and the agent, than the listing does.
A first meeting with a realtor is usually framed as the agent interviewing you. For an investment purchase, it should run the other way. The questions below are the ones that separate an agent who knows rental property from one who sells houses and happens to have a rental listed.
They're grouped by what they protect you from. Each one says why it matters, and where there's a number to check, the number.
Questions about the agent
1. How many rental or income properties have you helped buyers purchase in the last two years?
Income property is a niche. Duplexes, triplexes and suited houses come with tenancies, rent rolls and lender rules that a typical home sale doesn't. You want someone who has been through a few of those recently, in your city, and can tell you what went wrong on one of them.
2. Will you represent only me in this purchase?
In BC, a real estate professional can't represent both the buyer and the seller in the same deal. BCFSA, the provincial regulator, prohibits dual agency, with one narrow exemption for remote and under-served areas where separate representation isn't practical. So if you call the listing agent directly, they can't act for you as well. Ask how the brokerage handles it, and make sure you know whose interests your agent is protecting before you share your maximum price.
Questions about the income
3. What do the current tenants actually pay, and when did their tenancies start?
This is the most important question on any tenanted property. BC caps rent increases for a sitting tenant: 3% for 2025, 2.3% for 2026 and 2.2% for 2027. A unit rented at $1,350 since 2020 can't be brought to market rent by the new owner. It moves up by the cap each year until that tenancy ends.
For a sanity check on market rent, CMHC's October 2025 survey put the average purpose-built rent in Kamloops at $1,347 for a one-bedroom and $1,679 for a two-bedroom. Basement suites and houses aren't in that survey, so ask the agent for recent rental comparables for the exact unit type.
4. Are the tenancies fixed-term or month-to-month, and is anyone on notice?
If you plan to live in one unit, ending a tenancy so you or a close family member can move in takes a three-month notice in BC (since June 2025), generated through the Residential Tenancy Branch's web portal. The tenant gets one month's rent as compensation, and you have to actually live there for at least 12 months. If you're buying, the seller serves that notice for you once all subjects are removed and you ask in writing, so the timing has to work with your completion date. Find out early.
5. How much of this price is based on today's rent, and how much on rent growth?
An agent who sells investment property should be able to answer this straight. Many rentals only work if rents rise. Here's the arithmetic to check it against.
A property bought at a 3.8% cap rate (net operating income ÷ price) earns 3.8% on what you paid in year one. If net income grows 2.5% a year, roughly the pace of the rent cap, it's earning about 4.5% on your purchase price by year seven. At 5% a year it's about 5.3%. That faster path mostly needs tenants to turn over, because the cap holds sitting tenants back. If the price only makes sense at 5%, you're betting on turnover. My cap rate post shows how to rebuild a listing's numbers from scratch.
Questions about the property
6. What does the permit history show, and how old are the roof, furnace, water heater and electrical?
The City of Kamloops can tell you what permitted work has been done on an address. A 1970s duplex with no permits in 20 years is a question; one with a recent roof, furnace and panel upgrade is a different property at the same price. Ask the agent what the seller has disclosed, then confirm it at inspection.
7. If it's a strata, can I see the depreciation report and two years of minutes?
Since July 2024, BC stratas with five or more lots must get a depreciation report every five years and can't vote to skip it. The minutes show what the council has been discussing, such as a roof or a special levy, before it becomes formal. And note: since November 2022, strata bylaws can't stop you renting long-term, but they can still ban short-term rentals. Strata vs freehold covers the rest.
8. Do you hear about income properties before they're listed?
Some sales happen between agents and investors they already know, before a listing goes public. There's no published figure for how many, so treat any percentage you're quoted as one person's view. What you can do is ask whether the agent keeps a list of buyers for off-market income property, and what they need from you to be on it: usually a pre-approval and a clear set of criteria.
Questions about the money
9. Which mortgage brokers do your investor clients use?
Financing changes the deal more than most buyers expect. On a $455,000 mortgage at 4.22% (the Bank of Canada's average for a new uninsured 5-year fixed in March 2026), stretching the amortisation from 25 to 30 years lowers the payment by about $227 a month. A rate 0.65 points lower saves about $160 a month on the same loan. Lenders also treat rental income very differently, so a broker who works with several lenders can change what you qualify for. My pre-approval guide goes through the rules.
10. What comparable sales support this price?
Ask for recent sales of similar properties, not just active listings. For context, the Association of Interior REALTORS® put the Kamloops and District single-family benchmark at $664,400 in April 2026. A duplex or suited house prices off the rent it can earn as well as its size, so the comparables that matter are other income properties.
11. How does the cooling-off period work on this offer?
Since January 2023, buyers of most residential property in BC have a three-business-day rescission period after their offer is accepted. To back out, you notify the seller in writing within that window and pay a fee of 0.25% of the price: $1,500 on a $600,000 purchase. Neither side can waive it. It doesn't apply to leasehold property, property on leased land, auctions or court-ordered sales. Ask the agent how it fits with your subject conditions, which are a separate protection. How to make an offer on a BC investment property explains subjects.
Red flags in the answers
- Vague answers on the tenancy. If the agent doesn't know what the tenants pay or when they moved in, the rent roll in the listing isn't evidence.
- Pricing on "market rent". A cash-flow figure built on rents the current tenants don't pay is a forecast, not a fact.
- Pressure to waive inspection on an older property in a balanced market. In April 2026, Kamloops had about six months of inventory on AIR's figures. There's usually time.
- No broker names. An agent who works with investors will know who finances them.
Common questions
What should I ask a realtor before buying an investment property in BC?
Who they represent, what the tenants pay and since when, whether tenancies are fixed-term or month-to-month, what the permit history shows, how much of the price depends on rent growth, which mortgage brokers their investor clients use, and how the three-day rescission period works on your offer.
Can a realtor represent both the buyer and the seller in BC?
No, except in narrow cases. BCFSA prohibits dual agency, with an exemption only for remote and under-served areas where separate representation is impractical.
Can I back out of an accepted offer in BC?
Usually, within three business days of acceptance, by notifying the seller in writing and paying 0.25% of the price. The right can't be waived. It doesn't cover leasehold property, property on leased land, auctions or court-ordered sales.
Do I need an agent who specialises in rental property?
It helps. Tenancies, rent rolls and lender rules for rentals are their own skill set, and an agent who has handled several recently will spot problems in the rent roll that a general agent might miss.
Sources: BCFSA — Home Buyer Rescission Period · BCFSA — use of the dual agency exemption · Province of BC — types of evictions · Province of BC — rent increases · Province of BC — strata depreciation report requirements · CMHC — Rental Market Survey data tables · Bank of Canada — interest rates for new lending by chartered banks
Written by Jagatjeet, as part of a public BC Interior real estate learning journey. Published 10 May 2026. Updated 7 October 2026. Jagatjeet is working toward a BC real estate licence and is not a licensed realtor. Nothing here is financial, legal or tax advice.