Vancouver's Real Estate Market

[donk.]

Originally Posted by Hondaracer

Our 700sq ft basement suite has generated almost $150,000 in 7 years

The renters of vancouver thank you for providing one more rental unit to the market for 7 years

The reddit inbreds of vancouver say fuck you for being a greedy slumlord, "profiting" off them for a service they desperately need

[Hondaracer]

I mentioned in a Reddit thread that maybe my tenant, instead of paying below market rate, would prefer to pay market rate + utilities, TV, Internet etc. themselves and see how that feels absorbing those increases

People there then said I shouldn’t be allowed to own a home period

The Reddit Canadian housing subs are fucking grossssss

[SSM_DC5]

Originally Posted by Hondaracer

Building a basement suite was one of the best financial decisions I’ve ever made. It’s obviously not for some nor is it a good use of space if you have kids etc. but for us, our portion of 1500sq ft or so is more than enough.

Our 700sq ft basement suite has generated almost $150,000 in 7 years

How much you spend to make the suite?

[Simplex123]

Originally Posted by Hondaracer

I mentioned in a Reddit thread that maybe my tenant, instead of paying below market rate, would prefer to pay market rate + utilities, TV, Internet etc. themselves and see how that feels absorbing those increases

People there then said I shouldn’t be allowed to own a home period

The Reddit Canadian housing subs are fucking grossssss

I had a client that couldn't afford his mortgage so we were telling the tenant that it's going to be listed on the market soon. The tenant actually offered to sign a new lease and pay $700 more per month to stay for another year.


On another note.. TIL my uncle's tenant passed away in his condo's bathroom..

Today when he didn't show for work his coworker filed a report for the cops to do a wellness check on him.. We showed up with the keys, the cops opened the door and a huge stench came blowing out of the unit. There wasn't much we could do so we left shortly after.

The coroners had the body removed after 3 hours and strata called restoration to bring in scrubbers to clean the air. Cops told us there's bodily fluids and SKIN??? around in the bathroom so we need to find someone to go in and clean it.. Probably need to let the unit air out via patio door/scrubbers before even taking a look at it.

Anyone know if there are specialized cleaning companies that would take care of something like this? I would assume regular cleaners won't take these jobs.

Interestingly enough, the cops said my uncle would not be given a report or any results of the investigation even though it happened in his property. If it is something the insurance company requires, he would have to submit a request at the coroners office. Sounds like there's a big chance he probably won't be able to find out what happened.

He's gonna have to check tomorrow to see what insurance requires though - I wonder what the policy would cover in a case where your tenant passes away in the unit.

There seems to be a load of follow up work to be done in this situation: cleaning/sanitizing, clearing his belongings/furniture and storing them until his family (from out of town) calls us to discuss what to do with it, and he even has his truck in the parkade..

Hopefully his family calls sooner rather than later to collect everything because by law all his stuff needs to be stored for like 6 months as per the tenancy act..

[donk.]

If you want a large "biohazard" bill from a proper company, go ahead

Other option is drive by Ontario and 3rd in vancouver, you can hire illegals for 20$/hr + lunch, and they will make sure you can eat off that bathroom floor. Usually a dozen of them in mornings, a few in afternoons.

[donk.]

What are peoples thoughts on this?

https://www.rew.ca/properties/560680...5D=1018+e+24th

1mil for a standalone alley home WITH garage, gonna have to check back on zealty in a few weeks when its sold. 1018 e 24th vancouver

[EvoFire]

Originally Posted by donk.

What are peoples thoughts on this?

https://www.rew.ca/properties/560680...5D=1018+e+24th

1mil for a standalone alley home WITH garage, gonna have to check back on zealty in a few weeks when its sold. 1018 e 24th vancouver

It would be helpful if Rajinder didn't feel like they need to SCREAM EVERYTHING IN THE DESCRIPTION

[Hondaracer]

Originally Posted by SSM_DC5

How much you spend to make the suite?

Between 35-45 depending how you look at it

Some stuff was preemptive for the entire home, other stuff like installing a sub panel and re-wiring a bunch of shit made it so the sub panel and main panel now controlled the basement and the rest of the house etc.

It’s kind of hard to say how much the suite cost exclusively

[lowside67]

Originally Posted by donk.

What are peoples thoughts on this?

https://www.rew.ca/properties/560680...5D=1018+e+24th

1mil for a standalone alley home WITH garage, gonna have to check back on zealty in a few weeks when its sold. 1018 e 24th vancouver

Pretty interesting to see how this plays out as the city allows more 2-unit stratas. Going to be really fun when the owner of the main house wants to do something and cannot get buy in from the laneway house owner seeing as they are equal 'votes' and can end at a stalemate forever. Sure wouldn't be interested in that arrangement myself.

-Mark

[sonick]

Originally Posted by Hondaracer

I mentioned in a Reddit thread that maybe my tenant, instead of paying below market rate, would prefer to pay market rate + utilities, TV, Internet etc. themselves and see how that feels absorbing those increases

People there then said I shouldn’t be allowed to own a home period

The Reddit Canadian housing subs are fucking grossssss

I'd like to see badhobz unleashed on these folks

[Badhobz]

i got banned from reddit and fecesbook.

i have to use my moms account on fecesbook to access the market place.

[JDMDreams]

Is that gonna be a stigmatized property now?

And how do those divided titles work. Since you have your own pid you should have your own lot and be able to do whatever the fuck you want on it. Start hoarding cars, put up a China farm, paint the house Vancouver special Pink

[Gerbs]

Originally Posted by Simplex123

On another note.. TIL my uncle's tenant passed away in his condo's bathroom..

Today when he didn't show for work his coworker filed a report for the cops to do a wellness check on him.. We showed up with the keys, the cops opened the door and a huge stench came blowing out of the unit. There wasn't much we could do so we left shortly after.

The coroners had the body removed after 3 hours and strata called restoration to bring in scrubbers to clean the air. Cops told us there's bodily fluids and SKIN??? around in the bathroom so we need to find someone to go in and clean it.. Probably need to let the unit air out via patio door/scrubbers before even taking a look at it.

Anyone know if there are specialized cleaning companies that would take care of something like this? I would assume regular cleaners won't take these jobs.

When I worked a short stint in a property management company. This happened to my friend 4x over 8 years.

One death had so much bodily fluid / acidity that they decided to redo floors / walls to get rid of the death smell. Apparently they held another dudes stuff until no one claimed it, and no estate and they tossed/donated it all.

[Gerbs]

The buddy guy duplex on the corner of 49th and Tyne sold.

[Traum]

We already have duplexes for the longest time -- more so in Burnaby than CoV -- so is getting buy-in from strata property members really a new problem?

Furthermore, with a laneway homes + main house situation, given how the 2 buildings aren't even attached to one another, I don't see how most renovation type of work should get denied by one home owner or the other, unless one of the home owners is intentionally going out of his way to act like a dick. For example, if the main house needs to redo its roof, it is none of the laneway home's business. This isn't the case with duplexes since the 2 homes are integrated, so things should in fact be easier with main + laneway homes.

Originally Posted by lowside67

Pretty interesting to see how this plays out as the city allows more 2-unit stratas. Going to be really fun when the owner of the main house wants to do something and cannot get buy in from the laneway house owner seeing as they are equal 'votes' and can end at a stalemate forever. Sure wouldn't be interested in that arrangement myself.

-Mark

Originally Posted by JDMDreams

And how do those divided titles work. Since you have your own pid you should have your own lot and be able to do whatever the fuck you want on it. Start hoarding cars, put up a China farm, paint the house Vancouver special Pink

[68style]

I have some friends who just bought into a self-managed townhouse project, I think there are 6 or 8 units in total and they're done in pairs... so you share a wall with 1 other person, and your little 2-some shares water bills, but electricity is separate...

Sounds like a fuckin nightmare to me. All it takes is 1 crazy owner and the whole thing goes to shit.

[6793026]

^ there is a huge profit to be made.
Turns out even apartments, in a typical size living room, (that's why trades are in demand)... a living room has been converted to 3 suites for the refugees to live in... renting at $1k each... i'm was shocked on how these people living in are cramped together.

[Great68]

When I think duplex living, I think of this one I saw over the christmas break:

https://www.google.com/maps/@49.1407...8192?entry=ttu

One owner obviously cares about their unit, the other, not so much. And I guess there's not much the one side can do about it...

[68style]

^ Jesus that's scary... I'm saving that photo for reference for friends/reminder for my future self if I get any ideas lol

[GS8]

Originally Posted by Great68

When I think duplex living, I think of this one I saw over the christmas break:

https://www.google.com/maps/@49.1407...8192?entry=ttu

One owner obviously cares about their unit, the other, not so much. And I guess there's not much the one side can do about it...

I wonder if Duplo guy was waiting for developer buyout, considering the activity on that street.

Soooo close

EDIT: It's for sale!

https://www.rew.ca/properties/556762...ad-richmond-bc

[Great68]

I'm sure that's the likely scenario.
But the nice half was last sold in 2017 for $958,000. How motivated is that half to sell? If it's a family who bought in 2017 to actually live, what is out there that they could easily move into?

[Gerbs]

Damn, not livable, so can't even slumlord while you wait for buyout.

[underscore]

how the heck would you build or redevelop townhouses on half a duplex?

[winson604]

Originally Posted by Great68

When I think duplex living, I think of this one I saw over the christmas break:

https://www.google.com/maps/@49.1407...8192?entry=ttu

One owner obviously cares about their unit, the other, not so much. And I guess there's not much the one side can do about it...

I know in the older days a common path for new owners might be getting a condo then a house. Now a days if you're lucky enough maybe condo > townhouse > duplex > house. I'm in a townhouse or sorry townhome as they call it because I don't have a garage but man if I can't make the leap to house I don't think I would jump to a duplex for this very reason.

[sonick]

Originally Posted by Badhobz

i got banned from reddit and fecesbook.

i have to use my moms account on fecesbook to access the market place.

Are you catfishing old divorced white dudes trying to hit on your mom?