Launch a Nonresidential Property Manager Business in Burnaby Today
This page gives you a practical, friendly roadmap to starting a nonresidential property manager business in Burnaby. You’ll find a clear six-step framework, quick checks for permits, and a realistic picture of costs and timeline so you can move from idea to action with confidence.
What you’ll learn: the six requirements you’ll need to meet for NAICS 531312 compliance and Burnaby setup, including business registration, a Burnaby business licence, essential insurance, the right licensing or credentials for property management, client trust accounting readiness, and solid contracts for clients and vendors. We’ll also cover the permits you may need, typical start-up costs (licensing, insurance, software, and marketing), and a practical timeline from planning to first client.
Why Burnaby works for this: a business-friendly climate near Vancouver, a growing commercial property market, and a supportive local ecosystem for service-based firms like nonresidential property managers to thrive.
Requirements Overview
The most critical requirement for operating a business in Burnaby is the BC Strata Property Manager Licence (BCFSA). This licence is legally required to manage strata properties in British Columbia, and you cannot legally operate as a property manager without it. It is non-negotiable and must be in place before you begin offering management services to strata corporations or related clients.
Beyond that, your day-to-day operations need to meet essential health and safety and compliance standards. Ensure you have WorkSafeBC coverage and registration for yourself and any staff or contractors, and follow applicable safety rules so workers and tenants are protected. If you have employees, you’ll also need to set up Payroll Deductions Registration and handle the related payroll obligations. Depending on the work you perform, verify any local permits or approvals required by Burnaby for specific property projects to avoid delays or penalties.
On the business side, you’ll need proper registration and tax setup. Obtain a Business Number (BN) registration to run as a business in Canada, and register a BC Business Name if you operate as a sole proprietorship or partnership. Plan for GST/HST registration once your revenue meets the threshold, and align with payroll deductions as soon as you hire staff. These registrations ensure you’re compliant with federal and provincial tax rules and employer obligations.
You’re taking the right steps to get set up. Start by confirming the BC Strata Property Manager Licence, then line up WorkSafeBC coverage and your payroll setup, followed by BN and BC Business Name registrations, and GST/HST planning. If you tackle these in order, you’ll move from regulatory essential to confident, compliant operation—one practical step at a time.
Detailed Requirements
Here are the specific requirements for starting a nonresidential property managers in Burnaby:
-
BC Strata Property Manager Licence (BCFSA) RequiredLicence to provide strata management services in British Columbia, regulated by BC Financial Services Authority under the Real Estate Services Act Complete UBC Strata Management Licensing course and exam. Apply to BCFSA via IRIS portal. Requires criminal record check (within 90 days), English proficiency (ELPR), and sponsorship by licensed brokerage. Must be 19+. Brokerage must have managing broker. Renew every 2 years. Contact: BCFSA at 604-660-3555.
-
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).
-
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.
-
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.
-
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.
-
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 nonresidential property managers:
-
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), …
-
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 …
-
$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.
-
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 …
-
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 …
Ready to Launch Your Business?
Starting a business can be complex, but you don't have to do it alone. Our AI-powered business matcher can help you understand exactly what you need for your specific situation.
Try Our AI Business Matcher Get Expert Help
No credit card required • Takes 2 minutes
Browse Other Business Sectors
Explore business requirements in other industries: