REVscene - Vancouver Automotive Forum

Hondaracer · 01-13-2021, 10:31 AM

Jesus 1bt for 1900 fuck.

When I first started renting out my basement suite I thought $1600 was at the limit but now it seems like for a 700 sq ft 1 br with the little yard I have I could ask another 200-300 and have ppl lined up..

Traum · 01-13-2021, 10:33 AM

and I thought the rental market got quieter and rent dropped?

The Producer · 01-13-2021, 11:15 AM

Quote:

Originally Posted by Gerbs

Just tested Joyce Collingwood area for $1,900/1BR and had over 40 - 50 inquiries. I felt like they were higher risk tenants and maybe 2 - 3 solid applications from couples with good-paying jobs.

you're posting totally fake ads for rental properties? it never occurred to me that was a thing. when I rented I made every application expecting to actually get the place.

that's not cool at all. I feel for renters - just trying to find a place to live, wasting their time and resources to further your personal research.

correct me if I'm wrong...

JDMDreams · 01-13-2021, 11:48 AM

^^ you are wrong cuz I also see renters flake last min for showings. And stop replying cuz they probably found a cheaper place.

The Producer · 01-13-2021, 12:08 PM

how is that relevant?

if Gerbs said that he applies for rentals with no intention to actually rent them that would also not be cool - but that's not what he said.

GGnoRE · 01-13-2021, 01:51 PM

Quote:

Originally Posted by JDMDreams

^^ you are wrong cuz I also see renters flake last min for showings. And stop replying cuz they probably found a cheaper place.

two wrongs dont make one right. when you see someone litter, do you go: oh imma treat this place like crap too and litter?

Sw0op · 01-13-2021, 02:02 PM

Quote:

Originally Posted by The Producer

you're posting totally fake ads for rental properties? it never occurred to me that was a thing. when I rented I made every application expecting to actually get the place.

that's not cool at all. I feel for renters - just trying to find a place to live, wasting their time and resources to further your personal research.

correct me if I'm wrong...

this happens all the time...landlords test the market for prices...sometimes its just to see what they can get if they were to rent it out and move somewhere else...others its to see what the market is if their current tenant is moving out soon

for every "fake ad" there is..there's like 10x the amount of tenants "window shopping" for units that dont even get back to you for further infromation

Teriyaki · 01-13-2021, 02:07 PM

Quote:

Originally Posted by Sw0op

this happens all the time...landlords test the market for prices...sometimes its just to see what they can get if they were to rent it out and move somewhere else...others its to see what the market is if their current tenant is moving out soon

for every "fake ad" there is..there's like 10x the amount of tenants "window shopping" for units that dont even get back to you for further infromation

Sure reasons, but still a dickish thing to do IMO. Id imagine the same people to complain when they find fake car ads and whatnot on Craigslist.

xxxrsxxx · 01-13-2021, 02:18 PM

question for landlords: do you perform credit checks and if so, which companies/website are you using? Do you pay for it or do the potential tenants do?

Hondaracer · 01-13-2021, 02:32 PM

I do not but if it was Somone that was a complete stranger I would ask for employment verification.

Funny enough if you state that you require payment via cheque, that seems to automatically weed out a lot of losers because they don’t have cheques or chequing accounts lol..

Not to say I ever take payment in cheques but generally the people who accept that fact and then discuss e-transfer etc in person are already more trust worthy seemingly lol

Gerbs · 01-13-2021, 05:39 PM

Quote:

Originally Posted by Hondaracer

Jesus 1bt for 1900 fuck.

When I first started renting out my basement suite I thought $1600 was at the limit but now it seems like for a 700 sq ft 1 br with the little yard I have I could ask another 200-300 and have ppl lined up..

Basement suits usually command way less. I think it's the lack of sunlight or loud upstairs? Our 1BR basement at family's house is renting for about $1,100 utilities in. But this is a solid tenant we found after months of searching during Covid. It's probably below market price.

Quote:

Originally Posted by The Producer

how is that relevant?

if Gerbs said that he applies for rentals with no intention to actually rent them that would also not be cool - but that's not what he said.

I'm creating fake rental listings to test the market before I buy the unit, not as a rental applicant. Doesn't matter though, it's a dick move on both sides.

I'd say out of everybody who sets up a time. 50%, if not more will ghost the showing. I've had one person just flake the day after credit, background and income check. It's a 2-way street haha.

Gerbs · 01-13-2021, 05:45 PM

Quote:

Originally Posted by xxxrsxxx

question for landlords: do you perform credit checks and if so, which companies/website are you using? Do you pay for it or do the potential tenants do?

It's against bc tenant laws to charge tenants for application costs. The Naborly app has treated me well for $25/application. Get ready to light up $100 - 300 on fire for flaky tenants though.

Fafine · 01-13-2021, 05:48 PM

Quote:

Originally Posted by xxxrsxxx

question for landlords: do you perform credit checks and if so, which companies/website are you using? Do you pay for it or do the potential tenants do?

Nope didn't do credit check.
Just asked for proof of employment and their supervisor / managers contact for a brief chat.

Though, if we were to do a credit check, it'd be out of my pocket.

RiceIntegraRS · 01-13-2021, 05:49 PM

Quote:

Originally Posted by The Producer

you're posting totally fake ads for rental properties? it never occurred to me that was a thing. when I rented I made every application expecting to actually get the place.

that's not cool at all. I feel for renters - just trying to find a place to live, wasting their time and resources to further your personal research.

correct me if I'm wrong...

Ive been on both the renting side and the landlord side and i can tell u now that my time was wasted more when potential renters would pull no shows or they suddenly ghosted me when things got serious. Hours could be wasted.

As a renter, all the emails i sent are basically exactly the same, just hit copy, paste and send. Takes a minute and its no secret that renting in vancouver is a super competitive market. When I rented i sent out every email not expecting to actually get the place. And as Gerbs post indicates, people have a 2-3% shot at getting it.

The Producer · 01-13-2021, 06:08 PM

you guys are still saying it's OK to create a completely fictitious for rent post just to see what the value of the area is. not even a hypothetical post for your own existing unit (if you were unsure about an existing tenant or something) but a fake listing altogether. what do you use for pics? via gettys?

it seems like you're justifying wasting people's time because other unrelated people have wasted yours, in what is at best a semi-related fashion

(btw i've rented 4 apartments and one house in my life as a renter - 5 total. I've also only ever applied for 5 places. I didn't realize 5 for 5 was abnormal. you don't copy paste, you write a short but compelling specific personal story about why a place is the right one for you)

i could never be a landlord

Gerbs · 01-13-2021, 06:09 PM

I agree that the renting side is way easier. I use a standard copy and paste introduction with my job, amount of people, and answering questions in the ad.

On the landlord side, you get 50 - 100 messages with "hey is this available?" or an I'm interested. Of that 50%, you might get an introduction. After that, you'll have about 20% of that pool with a reasonable income to rent ratio, low risk, references.

Gerbs · 01-13-2021, 06:11 PM

Quote:

Originally Posted by The Producer

i could never be a landlord

It's not fun, the rate of return on your investment at the current housing prices and rental income isn't worth it. Better off in a REIT or other asset class. I don't mind being a landlord if returns were solid though. It'll treat it as a second job.

RiceIntegraRS · 01-13-2021, 06:28 PM

Quote:

Originally Posted by The Producer

i could never be a landlord

Its worse than selling your car on Facebook because if u rent to a shit tenant ur basically screwed for a long time.

You seem like a straight shooter, probably in ur late 30s or 40s trying to do everything the "right" way. Unfortunately it seems as if everyone is transitioning out of that way of thinking and into a dog eat dog, who can i use/rip off to further myself type of world for themselves.

twitchyzero · 01-13-2021, 07:02 PM

always run a credit check, but allow them to be transparent (ie should I expect anything when I run credit?)

The Producer · 01-13-2021, 09:52 PM

i've derailed this thread - back to your scheduled programming

donk. · 01-13-2021, 10:37 PM

Quote:

Originally Posted by Gerbs

It's not fun, the rate of return on your investment at the current housing prices and rental income isn't worth it. Better off in a REIT or other asset class. I don't mind being a landlord if returns were solid though. It'll treat it as a second job.

Being a landlord is worth more, than any investment investment bruda

DA9ve · 01-14-2021, 02:17 PM

Quote:

Originally Posted by Gerbs

Just tested Joyce Collingwood area for $1,900/1BR and had over 40 - 50 inquiries. I felt like they were higher risk tenants and maybe 2 - 3 solid applications from couples with good-paying jobs.

how much sq ft?

cafe22 · 01-14-2021, 03:57 PM

There's a landlord in my condo who owns 3 of the 1BR units (600-650 sq feet). she said on average she receives 20-30 requests from young couples and will be able to rent it out within a month.

listing price unfurnished = $2200.

lowside67 · 01-14-2021, 04:58 PM

Quote:

Originally Posted by DA9ve

how much sq ft?

It's a made up suite... so probably like 2000sft with floor to ceiling windows and a generous veranda.

Quote:

Originally Posted by Gerbs

BI'm creating fake rental listings to test the market before I buy the unit, not as a rental applicant.

It's a douche move is what it is. If you want to see what a place would rent for, you spend some time on Craigslist and other sites looking at comparables. It's not like people list fake houses on the MLS to see "what their house is worth"... they look at what other people are asking. Just like everything else. A complete douche move.

-Mark

mikemhg · 01-14-2021, 06:46 PM

Quote:

Originally Posted by lowside67

It's a made up suite... so probably like 2000sft with floor to ceiling windows and a generous veranda.

It's a douche move is what it is. If you want to see what a place would rent for, you spend some time on Craigslist and other sites looking at comparables. It's not like people list fake houses on the MLS to see "what their house is worth"... they look at what other people are asking. Just like everything else. A complete douche move.

-Mark

I agree with this, it's a bit of a douche move.

There are enough fake listings on CL in terms of rental suites, to add to that sea of garbage is somewhat repugnant.