B.C. Real Estate Agent Fined $200K, Suspended After Buying and Renting Affordable Housing Unit

Lucas Tremblay

8/26/20262 min read

A Victoria real estate agent has been fined $200,000 and had his licence suspended for six months after buying an affordable housing unit he was not eligible for and subsequently renting it out.

According to a consent order issued by the B.C. Financial Services Authority, Jason Leslie purchased a unit at the Vivid condominium development in downtown Victoria despite not meeting the program’s eligibility requirements.

He later rented the unit for more than eight months, even though the development was designed for qualifying buyers who intended to live in their homes and rentals were prohibited under the applicable restrictions.

Unit Part of Below-Market Housing Program

Leslie initially purchased a 505-square-foot, one-bedroom unit at Vivid in February 2018 and took possession in May 2021, according to the agreement.

The 135-unit development was supported by a $53-million low-interest provincial loan intended to help make units available at below-market prices to buyers who otherwise might not be able to afford a home.

An affordable home ownership covenant attached to the property required purchasers to have gross annual incomes below $150,000 and to use their units as their primary residences.

Leslie rented his unit to a tenant the month after taking possession.

B.C. Housing Audit Found Buyer Ineligible

In March 2022, B.C. Housing informed Leslie that an audit had determined he was not eligible to purchase the unit.

The BCFSA agreement states that Leslie also acted as the real estate agent on the sale of three units within the Vivid development, including his own purchase.

Regulators determined he committed professional misconduct by representing himself in the transaction and buying the affordable unit despite having no intention of living there as his primary residence.

Leslie sold the unit back to B.C. Housing in September 2022.

He also returned the net rental income he received from the property and the real estate commission he earned from the transaction.

Licence Suspended and Supervision Required

In addition to the $200,000 fine, Leslie’s real estate licence has been suspended for six months.

Once that suspension ends, he will be required to work under enhanced supervision from another broker for 12 months.

The disciplinary action follows broader scrutiny of purchases at the Vivid development.

In 2024, Peazzi reported that more than a dozen people had been accused by B.C. Housing of purchasing units in the affordable development despite owning other properties, in some cases worth millions of dollars.

Peazzi contacted Leslie’s office for comment, but a staff member said they did not know when he would be available for an interview.

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