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Real estate transactions: Pot-friendly buildings in the future?

With the advent of legal marijuana on the horizon, a few Albertans are thinking about cannabis-friendly buildings. It will make some real estate transactions interesting. Canada is set to legalize pot this summer, and some building owners who already use marijuana are thinking about allowing their tenants to smoke weed in their buildings -- and going a step further and actually seeking tenants who are cannabis users.

A landlord in Calgary, who has been in the residential real estate business for about 20 years, has gone on record saying he would be interested in laying out money for buildings where his tenants could freely smoke marijuana once it is legalized. The man already has properties in Grand Prairie and Calgary. Currently, the investor's building are all nonsmoking, despite the fact tenants in one of his units continues to smoke, aggravating neighbours. Alberta landlords have the right to tell their tenants they can't smoke as long as it's stipulated in the lease agreement. 

Looking at it as a businessperson, the landlord said he believes many people will want to smoke pot in their homes and is thinking about having a building or two where tenants will be allowed to do just that. Those who use pot won't want the hassle of neighbours who disapprove or landlords who give them grief and will actually be looking for accommodations that welcome their cannabis use, the investor believes. He is keeping his eye open for a smaller building to purchase where tenants will be free to smoke pot.

This investor may not be the only one in Canada looking to get involved in real estate transactions of this sort. Those who are intrigued by investing in these types of buildings may wish to get legal counsel on the laws that go along with such purchases and how they might affect tenants. A lawyer might be able to offer some enlightening information. 

Source:, "Alberta real estate investor stoked on idea of weed-friendly buildings", Travis McEwan, Feb. 11, 2018

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