B.C. real estate agent fined $200K, suspended for exploiting affordable housing program
Jason Alexander Leslie bought a subsidized unit meant for lower-income buyers and immediately rented it out, violating program rules designed to create homeownership pathways.
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A Victoria-area real estate agent has been suspended from the profession for six months and fined $200,000 for deliberately circumventing rules designed to create affordable homeownership pathways in B.C.
Jason Alexander Leslie purchased a one-bedroom unit at the Vivid at the Yates building on Feb. 13, 2018 — a complex specifically built as part of B.C. Housing's Affordable Home Ownership Program. The $53 million government loan to the developer allowed units to sell at an average of 12 percent below market rates. Buyers were required to earn no more than $150,000 annually and live in the unit as their primary residence for at least two years.
Leslie took possession on May 17, 2021 and immediately rented out the unit. He later admitted he had no intention to live there. As the buyer's agent, he earned a three percent commission on the first $100,000 of the purchase price and 1.5 percent on the balance.
The B.C. Financial Services Authority, acting on complaints filed in March 2024 by a strata council member and a member of the public, determined Leslie committed "professional misconduct and conduct unbecoming a licensee." Under a consent order, he returned the unit to BC Housing and repaid all net commission earnings, rental income, property transfer tax, and legal fees incurred by the housing authority.
The regulator imposed a $200,000 penalty — close to the $250,000 maximum — plus $5,000 in enforcement expenses. Beyond the suspension, Leslie must undergo enhanced brokerage supervision for one year after his license is reinstated.
"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," said Jon Vandall, senior vice-president of financial professionals at the BCFSA.
Leslie is not the only person accused of breaching the program's covenants. The B.C. government has filed 13 lawsuits against other Vivid at the Yates owners it claims skirted income thresholds and residency requirements.
The facts
Who was fined for exploiting B.C.'s affordable housing program?
Jason Alexander Leslie, a Victoria-area real estate agent, was fined $200,000 and suspended for six months after deliberately circumventing rules of B.C. Housing's Affordable Home Ownership Program.
What was Leslie required to do under the consent order?
Leslie returned the unit to BC Housing and repaid all net commission earnings, rental income, property transfer tax, and legal fees incurred by the housing authority.
When did Leslie take possession of the subsidized unit?
Leslie took possession of the one-bedroom unit at the Vivid at the Yates building on May 17, 2021, and immediately rented it out despite program rules requiring primary residence for at least two years.
How many other Vivid at the Yates owners has the B.C. government sued?
The B.C. government has filed 13 lawsuits against other Vivid at the Yates owners it claims skirted income thresholds and residency requirements.
