Isn't this like everything in life. LOL

"Literally across from him is a house with a hot model trophy wife and they have a full sized pool parties, so they can technically host playboy mansion type parties if they wanted.

It's a cost thing though. The guy across across the street makes more than him" LOL

Had a tandem with a parking pad for a few years - I wouldn't consider buying a home with a tandem garage and no parking pad.

With townhouses and garages, you need to pay attention to the actual strata lot plan to make sure that your garage is part of your strata lot.

If your plan lists your garage as limited common property, the strata's bylaws technically apply to it, including any restrictions on car maintenance.

So, the lesson of life is.... Make more money? lol

Does money really buy happiness?

^ yes, I rather cry in lc Corolla than real Corolla

Money can buy happiness, but happiness is a short-term emotion. It won't buy you contentment, which I think is what most people refer to when asking that question. I remember someone relating a wealthy person's relationship with money to our relationship to clean water - it's readily available whenever it's needed.

would the hyundai /bmwthing that moves the car forward nad back with the remote solve this?

Real Corolla is better than LC corolla.

https://www.stancenation.com/wp-cont...-1500x1000.jpg
https://www.stancenation.com/wp-cont...-1500x1000.jpg
https://www.stancenation.com/wp-cont...-1500x1000.jpg

I never had experience with that Gen, I thought they were known for burning oil and the engine self destruct? I just know they were real ugly compared to eg civic.

Whether it burns oils and self destructs, you have to give it to Toyota for building such robust engines of that era. They likely ran without oil perfectly fine. :pokerface:

That's the gen after which came with the 1ZZ which would burn oil. Even then it's still a reliable engine.

next time i drive my dad's '96 i'm going to close my eyes and imagine it's this :lol SeemsGood

You won't need to, cause I bet you that green one has such a poor ride you won't see anything anyways.

There's a guy on here with a champagne coloured one of those corollas

Biege Corolla is best Corolla.

So I have an investment condo that the current Tennant is paying 3-400 less than market rates. Through the BC tenancy act you can ask your Tennant to voluntarily pay more. We are considering doing this at the moment as we’d like refinance to pull some cash out of the property to do some Reno’s in our main property. The other idea is selling the property.

Has anyone ever asked there tenant to voluntarily pay more ? Any thoughts on the ethics of it? Feels a little sleezy to me but at the end of the day it’s an investment.

They’re just going to say no… why would they? You can’t force them out through any legit means.

Expect them to say no.
Then when you go to sell, expect the buyer to request that you pay the tenant to leave before occupancy date.

Ethics? Its your unit, not theirs. Go for it.

As 68 said, they will probably deny the request, then you tell them your selling. Then they will cry to all their friends they need to move PLUS pay market rent somewhere else.

If you are looking at selling, dont forget to pay 1 month tenant fee, or they will come after you for 12 months.

Also the tenant needs 3 FULL months notice AFTER you have a buyers contract, talk to your realtor. Unless the tenant agrees to move sooner.

My buddy does that, the tennant always agrees to pay more. I've never tried it myself because I think it's a dick move, but I'm sure if I tried I'd be able to negotiate a voluntary increase. If they move they pay more, the hassle and stress of moving. They will pay more.

"money is tight, I may have to sell this unit as it doesn't make sense to keep since interest rates went up. Plus strata fees, property taxes and insurance are all up. I'd love to keep you living here but there's about a $500 gap preventing this from making sense..."

^ yeah i was given that advice too.

It's a dick move. I told myself, I rather they be good tenants and don't bother me than to try this. will 300 bucks really kill me? SO i sucked it up.
Now, my tenant is below market value by 800 right now - oh well.
We pulled 400k to reno and i rather have a good tenant.
Keep in mind, the interest rates are not going up so you can't use that.

Yah shes been a great tenant but at the end of the day its a investment. I've been hoping she'd leave but the condo is near the VGH where she works so that's unlikely. I don't love the idea of giving her a "pay more or else" but really that is what its coming to.

I'd like to pull more money out of the property but the rent has to come up to support that.

What if you split the difference since you like tenant? If it is $300-400 below market, ask for voluntary $150-200. If rent really is that below market, I think tenant should be reasonable and agree.

If you get a dick tenant in next ... it may not be worth the $3-4000 you get annually. One incident or damage and it could be 2x that to fix.

How did this situation come to be? Has tenant been there for like 8-10 yrs? Long term tenancy is the only way that someone might be in this position.

Shes been a great tenant for 5-6 years and yes i'm not going to try and juice her all the way to "market" rate. When she first took tenancy we were trying to rent i out over December and January. Kind of a slow time in the rental market and we had to drop the rent $100 or something from what we were asking as we just weren't getting good interest.

I totally understand the "devil you know" vs the "devil you don't". I've been renting this unit and a basement suite for 14-15 years so I definitely have spidey senses on who to rent to and who not. I mean some of these people that show up ...and really all you have to do is let them talk and they will reveal themselves real quick.

But ive also prided myself on not being a scumbag landlord and so ...its not really my prefered method of going about things give her a ultimatum. But as i said push is coming to shove as we need/want to do some stuff at our main residence.

Does an extra $300 in rent a month make that much of a diff in the amount of money you can pull out of your condo? Is it a make it or break it for the renovations you want to do? If it's the difference maker does that mean you're running things a bit tight?

Yes in general we are running a bit tight on things. Kids are 7/9 and we justify "running it a bit tight" by this being the golden time where they still like us etc. Lol. We do one trip at spring break to Hawaii ( Mexico this year and no USA for a while). and a few small trips in the summer to friends places , maybe a summer vacation rental in osoyoos etc. One kid started hockey this year as well as doing lacrosse ( Box in the summer , field in the winter). So life in general right now is expensive.

That being said we clear the credit cards monthly and no debt beyond mortgage(s) . I just don't want to put ourselves much further past "tight" . At the same time we want to redo the back yard a bit with the deck and few odds and ends on the house ( painting , maintenance , etc) .

My investment advisor also suggesting we take some capital out of the condo to invest at the same time which makes sense on paper but I'm a little hesitant . I personally don't see huge gains coming on the condo market in the next 3-5 years ( but what do I know) so maybe keeping the condo at all makes no sense.

At the end of the day I'm trying to see this condo purely as a investment vehicle and not someone's home. If you had a investment that was underperforming by $300 month would you not look to rectify that or would you say "Does an extra $300 in rent a month make .." .
Anyway thanks for the replys..always good to get other perspectives.