Launch a Burnaby Nonresidential Building Lessor Business Today
This page offers a practical roadmap for starting a lessor of nonresidential buildings in Burnaby (NAICS 531120). It provides a clear overview of the six requirements you must meet, the licenses and registrations you’ll likely need, and a realistic look at setup costs and the timeline to get up and running. It also highlights the permits that may apply to property leasing and management.
You’ll learn the essentials you’ll tackle: how to register your business, obtain Burnaby’s local business license, secure any property-use or occupancy permits, arrange the necessary insurance, and set up your accounting and tax systems. The guide walks you through the six requirements, plus practical tips on permits, expected costs, and a step‑by‑step timeline from planning to your first lease.
Why Burnaby works for this business: with a central Metro Vancouver location, a growing commercial market, and a straightforward path to licensing and compliance, Burnaby offers solid demand and a friendly environment for new landlords and property managers.
Requirements Overview
BC Employment Standards Act Compliance is the most critical requirement for operating a lessor of nonresidential buildings in Burnaby. If you have employees, you must meet minimum standards for wages, hours, overtime, vacation, breaks, and leaves, and keep accurate payroll records. This is a legal obligation you cannot ignore, and you cannot operate your rental business lawfully without meeting these standards.
Beyond wages and hours, you’ll need to keep your operations safe and compliant. This includes WorkSafeBC coverage and registration, plus maintaining a safe workplace for any staff or contractors. Depending on property work you undertake, you may also need building code or safety-related permits and inspections to ensure the properties you lease meet applicable requirements.
From a business registration and tax perspective, you’ll need a Canada Revenue Agency Business Number (BN) to handle taxes and payroll. If you’re using a name other than your own, register the BC Business Name for a sole proprietorship or partnership. Consider GST/HST registration if your taxable supplies exceed the threshold (currently $30,000 in a year). If you have employees, you’ll also need to set up Payroll Deductions with the CRA.
Next steps are practical and doable. Start with a simple checklist: confirm whether you have staff, decide your business structure, and set up the required registrations. Use the online portals to apply: BC Registries for your business name, the CRA My Business Account for BN and payroll, and GST/HST registration through CRA. And if you have employees, enroll with WorkSafeBC. You’ve got this—take it one step at a time and you’ll be ready to operate confidently.
Detailed Requirements
Here are the specific requirements for starting a lessors of nonresidential buildings (except miniwarehouses) in Burnaby:
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BC Employment Standards Act Compliance RequiredEmployer compliance with BC Employment Standards Act requirements for wages, hours, and working conditions BC Employment Standards Act sets minimum requirements for all employers. Minimum wage: $17.85/hour (effective June 1, 2025). Standard hours: 8 hours/day, 40 hours/week. Overtime: time-and-a-half after 8 hours/day or 40 hours/week. 5 paid sick days required. Vacation: 2 weeks after 1 year, 3 weeks after 5 years. Contact Employment Standards Branch: 1-833-236-3700.
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Business Number (BN) Registration RequiredA 9-digit Business Number is required for most businesses operating in Canada. It is used to interact with the Canada Revenue Agency and other federal programs. Required for GST/HST, payroll, corporation income tax, and import/export accounts. Register FREE online through Business Registration Online (BRO) at canada.ca. Takes 15-30 minutes. As of November 3, 2025, online registration is MANDATORY for new BNs - phone registration no longer available. You'll need: business name, address, owner SIN, business type, and start date. BN (9-digit number) issued INSTANTLY online. Available 21 hours/day, 7 days/week (closed 3-6am ET for maintenance).
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BC Business Name Registration (Sole Proprietorship/Partnership) RequiredRegistration of sole proprietorship or partnership business names with BC Registries Register sole proprietorship or partnership at bcregistry.gov.bc.ca. Name reservation: $30 (standard) or $100 (priority 1-2 days). Registration fee: $40. Total: ~$70. Name reserved for 56 days after approval. Registration is continuous (no renewal required). No name protection for sole proprietorships. Personal names operating under own name do not require registration. Contact BC Registries: 1-877-526-1526.
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GST/HST Registration ConditionalRequired if annual taxable revenue exceeds $30,000 (small supplier threshold). Taxi/ride-share drivers must register regardless of revenue. Businesses with gross revenues over $30,000 in any single quarter or over four consecutive quarters must register for, collect, and remit GST/HST. Small suppliers (under $30,000) may register voluntarily. Register FREE online through Business Registration Online (BRO) when your revenue exceeds $30,000 in any 4 consecutive quarters (small supplier threshold). Takes 15-30 minutes. You MUST register within 29 days of exceeding threshold and start charging GST/HST immediately on the sale that made you exceed it. Need your BN (or get one simultaneously). As of Nov 3, 2025, online registration is mandatory. Voluntary registration available anytime for input tax credits.
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Payroll Deductions Registration ConditionalRequired if you pay salaries, wages, or other remuneration to employees. Must register before first pay period. Required if you have employees. You must withhold Canada Pension Plan (CPP), Employment Insurance (EI), and income tax from employee wages and remit to CRA. Register FREE online through Business Registration Online (BRO) when you hire your first employee. Takes 15-20 minutes. You'll need your Business Number (BN) or can get one simultaneously. Payroll account (RP) added to your BN instantly. Register BEFORE your first pay date. Required to deduct CPP, EI, and income tax from employee wages. For 2025: CPP rate 5.95%, EI employee rate $1.66/$100 insurable earnings.
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WorkSafeBC Coverage and Registration ConditionalRequired if you have workers in BC. Workers compensation insurance coverage through WorkSafeBC for employers in British Columbia WorkSafeBC coverage required for most BC employers. Average base premium rate: 1.55% of assessable payroll ($1.55 per $100). Register online at worksafebc.com. Apply 30 days before starting business or hiring workers. Processing: ~10 business days. Premium rates vary by industry classification (514 classification units). COR certified employers eligible for 10% rebate. Contact: 604-276-3100 or 1-888-967-5377.
Funding & Grants
Available funding programs that may apply to your lessors of nonresidential buildings (except miniwarehouses):
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MLI Select is Canada Mortgage and Housing Corporation's multi-unit mortgage loan insurance product that uses a points-based scoring system to offer enhanced financing terms to borrowers who commit to affordability, accessibility, and/or energy-efficiency outcomes. Projects earn points across three pillars — affordability (rents at 30% of median regional renter income), …
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The Housing Accelerator Fund is a $4.4 billion CMHC initiative running to 2027–28 that provides non-repayable contributions to local governments. Funding is calculated per projected new housing unit enabled by the applicant's action plan, with per-unit amounts varying by housing type (approx. $12,000–$20,000+ per unit). Payments are delivered in four …
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$300M program that ran five competitive rounds (2019-2025) through Impact Canada and CMHC, each targeting different supply barriers. Round 5 (Level-Up, $65M) focused on transforming housing production at scale via skill enhancement, automation, and supply chain improvements. All five rounds are now completed with prize recipients announced.
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The $1.5B CHDP provides up to 100% of project costs via forgivable loans (up to 1/3 of costs, forgiven over 20 years) and repayable loans (up to 2/3 of costs, amortized up to 50 years at below-market rates). First intake ran July–September 2024; additional rounds planned through 2027. Third intake …
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The FLI is a $318.9M fund that makes surplus federal properties available to eligible housing providers at below-market or no cost. The level of discount depends on social outcomes committed to in the approved proposal. Over 90 properties are listed on the Canada Public Land Bank. Budget 2024 added $112.6M …
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