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Vancouver Off-Topic / Current EventsThe off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.
__________________ There's a phallic symbol infront of my car
Quote:
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
bcrdukes yray fucked bcrdukes up the nose
dapperfied yraisis
dapperfied yray so waisis
FastAnna you literally talk out your ass
FastAnna i really cant
FastAnna yray i cant stand you
I mean there are a lot of rich people here but unlike the Chinese people don't make themselves a target. What do you expect you are dress in Gucci, Dior, Canada Goose tiffiany etc etc from head to toe and drive some nice super cars but can't park if their life depended on it. Not to mention their attitude others who aren't as rich as they are (They will treat you as a lower class).
White people, Asian people, brown people do the exact same things to white people, Asian people, brown people. Races and origins have nothing to do with being a xenophobe.
So only applies to chinks and gooks? So specific! I guess any Asian other than Chinese and Koreans are welcome?
Gooks can pretty much apply to every other non-Chinese East Asian ethnicity like Vietnamese. Except Japs, they are distinctive enough to get their own slur.
Steering this back towards real estate issues -- what is RS' take on the recently proposed changes to rent hike formula so that the max rate hike can only be tied to the rate of inflation?
IMO, those people on the BC Rental Housing Taskforce -- Vancouver-West End MLA Spencer Chandra Herbert (who also serves as the Premier’s Advisor on Residential Tenancy), MLAs Adam Olsen and Ronna-Rae Leonard -- are idiots. Put that rate hike limit in place, and watch how the supply of rental properties dry up even more.
I am also surprised by how many people among the general public can't see that these changes will only lead to reduce rental supply.
I swear the media is so short sighted, like i guess when it goes "viral" they are obligated to report it, but i feel like this sort of thing does more damage than good
You've got the social justice warriors triggered to ruin somones life
You've got the right leaning non-asian groups looking at it and having a chuckle and agreeing
Have dummies getting ideas in their head of imitation
media outlets consciously promoting division?
__________________
Dank memes cant melt steel beams
Steering this back towards real estate issues -- what is RS' take on the recently proposed changes to rent hike formula so that the max rate hike can only be tied to the rate of inflation?
IMO, those people on the BC Rental Housing Taskforce -- Vancouver-West End MLA Spencer Chandra Herbert (who also serves as the Premier’s Advisor on Residential Tenancy), MLAs Adam Olsen and Ronna-Rae Leonard -- are idiots. Put that rate hike limit in place, and watch how the supply of rental properties dry up even more.
I am also surprised by how many people among the general public can't see that these changes will only lead to reduce rental supply.
It's already gone, rent hikes are like irrelevant, 2/3/4%
the people who are already paying 1800 for a 1br can probably absorb the increase, the people on the fringes who are dealing with rental companies and landlords that are taking advantage of the yearly increases are fucked. They were already fucked before this new standard. It's not sustainable for people who are living cheque to cheque to try and live in situations like that regardless of the increase.
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Dank memes cant melt steel beams
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Quote:
Originally Posted by Traum
Steering this back towards real estate issues -- what is RS' take on the recently proposed changes to rent hike formula so that the max rate hike can only be tied to the rate of inflation?
IMO, those people on the BC Rental Housing Taskforce -- Vancouver-West End MLA Spencer Chandra Herbert (who also serves as the Premier’s Advisor on Residential Tenancy), MLAs Adam Olsen and Ronna-Rae Leonard -- are idiots. Put that rate hike limit in place, and watch how the supply of rental properties dry up even more.
I am also surprised by how many people among the general public can't see that these changes will only lead to reduce rental supply.
Simple new landlord will just set the intial price higher to offset this. Instead of listing their one bedroom at $2000/mo they will just list it at $2400/mo. And you still have people lining up to rent it off your hands.
Just found out the person who purchase my apartment just rented it out $2400/mo. Is a one bedroom. Sure is nice is new is got A/C near metrotown. But still is only a one bedroom. My friend who currently rented her one bedroom out 2 years ago furinshed for only $1800. When her current tenant was going to move out then realize how cheap his rent is and now he is not moving. Even if she increase his rate every year is still far cheaper for him to stay.
A friend of mine who also rented out his one bedroom near metrotown around Aug listed for $2200/mo for a 490sq sutido had people lining up ready to sign the lease on the spot. Apartment was rented out the same day ad was posted up.
All I say is if rental increase is to inflation you are going to see a lot of place listed much much higher than current rate and some people might even use loopholes to kick their current tenant if the rent is too low.
It's already gone, rent hikes are like irrelevant, 2/3/4%
Currently, the maximum allowed hike is inflation + 2%. It isn't much, and a smart landlord with a good tenant may or may not even increase it by that much anyway since it is probably a better idea to keep a good tenant than to price them out.
Quote:
the people who are already paying 1800 for a 1br can probably absorb the increase, the people on the fringes who are dealing with rental companies and landlords that are taking advantage of the yearly increases are fucked. They were already fucked before this new standard. It's not sustainable for people who are living cheque to cheque to try and live in situations like that regardless of the increase.
Uhhh that’s pretty clearly dumb white politicians reacting 20 years too late to closing loopholes and outdated laws and/or allowing it to happen to profit off it personally
Many of the things you mentioned simply can't happen. New landlords (for a particular unit) can set their initial rental price to whatever they want, but they'd at least generally look into what the going rate for similar units in similar locations that are being rented right now as reference. So if they arbitrarily pick a high number out of the hat, it probably wouldn't generate too much traction.
Existing landlords do not have this option to set an initial high price -- they'd be bounded by whatever the current maximum rent increase percentage is in effect. If they find the rent to be too low, their only real and viable option is to sell that unit, and buy again somewhere else with the money. You can't do renoviction anymore because new legislation makes it:
1) tougher on what qualifies as renovations that are significant enough to evict the tenant, and
2) significantly longer advanced notice of eviction is required
3) the existing tenant has the first right of refusal to rent the renovated unit again
Quote:
Originally Posted by Mr.HappySilp
Simple new landlord will just set the intial price higher to offset this. Instead of listing their one bedroom at $2000/mo they will just list it at $2400/mo. And you still have people lining up to rent it off your hands.
Just found out the person who purchase my apartment just rented it out $2400/mo. Is a one bedroom. Sure is nice is new is got A/C near metrotown. But still is only a one bedroom. My friend who currently rented her one bedroom out 2 years ago furinshed for only $1800. When her current tenant was going to move out then realize how cheap his rent is and now he is not moving. Even if she increase his rate every year is still far cheaper for him to stay.
A friend of mine who also rented out his one bedroom near metrotown around Aug listed for $2200/mo for a 490sq sutido had people lining up ready to sign the lease on the spot. Apartment was rented out the same day ad was posted up.
All I say is if rental increase is to inflation you are going to see a lot of place listed much much higher than current rate and some people might even use loopholes to kick their current tenant if the rent is too low.
reads most threads with his pants around his ankles, especially in the Forced Induction forum.
Join Date: Mar 2004
Location: Vancouver
Posts: 10,645
Thanked 2,191 Times in 1,131 Posts
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^^ I am aware of the new policy (I mention this a few pages back) and I still don't get it. The gov wants more people to rent out their property/basement but put in place to prevent landlord kick trouble tenants. It makes no sense. You don't even have to be a good tenant just don't cause trouble and most likely your landlord wants you stay. My parents have rented out their basement since 1991 and never had any issue with forcing tenants outs. Every time it is the tenants that move on(bought their own place, moving away etc etc). And they don't increase the rent at all. Coz the tenants were good.
Giving more power to tenants only prevent people from renting their place out. Is no easy being a landord there are so many risk it almost makes renting out as an invesement not worth it.
Breaking into Vancouver’s real estate market is increasingly challenging, and many have simply given up on the dream of owning a home.
A B.C. startup, though, says it has come up with a way to offer people a piece of the market.
IMBY — which stands for In My Backyard — is an app-based service that lets investors buy shares in a home or condo.
IMBY’s Michael Stephenson says buyers can get in for as little as $1.
“Our first development property on the IMBYx platform is sold out — there are 200 investors in this house,” Stephenson said as he stands outside a home in Vancouver’s Trout Lake neighbourhood.
A developer owns 51 per cent of the home and the rest was open to the public who bought in as shareholders.
After rezoning and redevelopment, the expectation is a 35 per cent return on investment.
“Real estate has been the best performing asset class in the world,” Stephenson said.
One resident told Global News that the idea of buying shares in a Vancouver house is “symptomatic of the speculative nature of Vancouver real estate.”
While some say buying shares in a house is still far off from owning a home, Tom Davidoff of UBC’s Sauder School of Business says in principle it could be a stepping stone.
“When we were kids we were all told, ‘Don’t put all your eggs in one basket,'” he said.
“So if you want to invest in real estate, being able to own part of a property or multiple properties instead of owning a lot of one property makes a lot of sense.”
__________________ There's a phallic symbol infront of my car
Quote:
MG1: in fact, a new term needs to make its way into the American dictionary. Trump............ he's such a "Trump" = ultimate insult. Like, "yray, you're such a trump."
bcrdukes yray fucked bcrdukes up the nose
dapperfied yraisis
dapperfied yray so waisis
FastAnna you literally talk out your ass
FastAnna i really cant
FastAnna yray i cant stand you
Easier and quicker to get cash from a pool of retails rather than going to a bank.
This increases liquidity but there are risk with development being delayed or abandoned. Mom and pop ends up holding the bag. There are enough of these in Ontario that they came down hard July this year and imposed a dollar limit on how much you can put in.
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