What Phase 1 means
Phase 1 refers to a family of rental-pool covenants registered on title. They are generally less restrictive than Phase 2 and commonly allow broad owner use while requiring the unit to be made available to visitors when the owner is away.
Why the label is not enough
There are different Phase 1 covenant wordings, and the covenant is only one layer. Municipal zoning and business licensing, provincial registration, strata bylaws, and rental-management obligations must all support the intended use.
Self-management versus a manager
Some Phase 1 properties allow an owner to select a booking platform or manager, or to self-manage. Others have practical or contractual constraints. Compare management fees, guest support, cleaning, key handling, damage procedures, owner storage, and tax reporting.
Revenue is not the same as return
Start with realistic nightly rates and occupancy, then subtract management, cleaning, strata fees, Tourism Whistler assessments where applicable, tax, insurance, maintenance, utilities, financing, and a reserve for furniture and renovations.
A Phase 1 due-diligence checklist
Obtain and reconcile the documents before relying on rental income.
- Current zoning and permitted use
- Registered rental-pool covenant
- Strata bylaws, minutes, Form B and depreciation report
- Municipal licence and provincial registration requirements
- Rental statements and complete expense history
- GST, income-tax, lender and insurer advice
From Richard’s original Phase 1 article
The management-agreement exceptions buyers should know
The original guide identifies four Phase 1 properties where the covenant alone does not describe the rental arrangement. Management contracts, bylaws, costs, and owner-use procedures must also be reviewed.
Le Chamois
A concrete building at the base of Blackcomb. The original guide notes that owners renting nightly are generally required to use the onsite manager, while penthouse suites were described as exceptions to that contract.
View the complex profileHilton Whistler Resort & Spa
A central Village hotel with a Phase 1 covenant but a hotel management structure. The original guide explains that owner stays and rental operation are controlled by the management contract and may carry owner-use charges.
View the complex profileLost Lake Lodge
Located in the Benchlands near Lost Lake. The original guide states that nightly rentals run through the onsite/front-desk management arrangement rather than unrestricted owner-selected management.
View the complex profileTantalus Lodge
Close to Whistler Village and the golf course. The original article describes an onsite rental arrangement, minimum rental-pool participation, and a meaningful monthly carrying cost for units removed from the pool.
View the complex profile
Frequently asked questions
Quick answers before you go
Can I live full-time in a Phase 1 property?
Phase 1 commonly provides broad owner-use flexibility, but the exact covenant, zoning, and property documents must be checked for the unit.
Are all Phase 1 properties good investments?
No. Location, layout, management, fees, building condition, financing, owner use, and purchase price can matter more than the label.
Sources and further reading