Aug 30, 2026
A Victoria-area real estate agent has been suspended from the profession for six months and fined $200,000 after violating the rules of a provincially subsidized affordable homeownership program.
In an Aug. 24 consent order with the B.C. Financial Services Authority (BCFSA), Jason Alexander Leslie acknowledged he committed professional misconduct and conduct unbecoming a licensee when he purchased a one-bedroom unit in a subsidized housing development and immediately rented it out.
Subsidized units meant for primary residents
Leslie purchased the unit in February 2018 at Vivid at the Yates, a 20-storey building on Johnson Street in Victoria. The project was built under a BC Housing pilot program designed to help lower- and middle-income buyers enter the market, offering units priced an average of 12% below market rate thanks to a $53-million provincial government loan to the developer.
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To qualify for the program, buyers were required to earn a gross annual income under $150,000 and agree to live in the home as their primary residence for at least the first two years.
According to the regulatory consent order, Leslie took possession of the apartment on May 17, 2021, and immediately placed it on the rental market. He later admitted he never had any intention of living in the unit.
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Leslie, who represented himself as the buyer’s agent during the purchase while working with Camosun Properties Ltd./Re/Max Camosun, also collected a real estate commission on the deal. He is no longer listed as an agent with Re/Max.
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Penalties include returning property and income
The BCFSA launched an investigation after receiving two complaints in March 2024, including one from a strata council member at the building and another from a member of the public.
As part of the settlement, Leslie agreed to surrender the unit back to BC Housing and return the net real estate commission he earned on the transaction. He was also ordered to pay back the net rental income generated from the property, reimburse BC Housing for its legal expenses and property transfer tax costs, pay a $200,000 administrative penalty and pay $5,000 in enforcement expenses.
Upon returning to the profession following his six-month licence suspension, Leslie will be subject to one year of enhanced brokerage supervision by a managing broker.
Regulator warns against exploiting programs
Jon Vandall, senior vice-president of financial professionals at the BCFSA, said the penalty delivers a strong warning to the industry.
“The $200,000 penalty and six-month licence suspension sends a clear message: exploiting an affordable home ownership program for personal gain is serious misconduct that erodes public confidence in real estate professionals and will result in significant consequences,” Vandall said in a statement.
Leslie is not the only individual facing scrutiny over purchases in the development. The B.C. government has launched 13 separate lawsuits against other buyers accused of violating covenants at Vivid at the Yates, including income thresholds and occupancy requirements.
How to report real estate misconduct in B.C.
The BCFSA investigation into Leslie was prompted by tips submitted directly from the public and local residents.
Members of the public who suspect a real estate licensee of deceptive dealing or suspect a violation of affordable housing covenants can file an official complaint through the BCFSA online portal at bcfsa.ca or contact BC Housing directly to report suspected occupancy violations.
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Leslie Kennedy served as an editor at Thomson Reuters and for Star Media Group, followed by a number of years as a writer and editor and content manager in marketing communications, before returning to her editorial roots. She is a graduate of Humber College’s post-graduate journalism program and has been a professional writer and editor ever since.
