Quote:
Originally Posted by Great68
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This list works well for a house with multiple bedrooms, washrooms, and kitchens
But if you own a condo, it's a golden ticket to kick out your tenant
Bathroom reno? > no shitter or shower for the tenant
Kitchen Reno? > no cooking appliances for the tenant
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Or, just "move back in" to your unit for 6 months. Then re list.
Seems like rent in Vancouver was 2k/1bed about 2 years ago.
2k x 12 mo = 24k.
Rent now is 3k/1bed.
2 options:
Keep tenant at 2k for next 2 years = 48k income
Kick out tenant "because your moving in", lose 6 months. Relist at 3k. 3k x 1.5 years = 54k income.
Not to mention the numbers above, magnified for the next 2-5-10 years.
People that pay 800-1500$ in rent because they have been living there for 5-10-30 years, are a charity case, and should be THANKFUL the landlord has his hands tied at 2% rent increases. Or as some here, don't even raise rent.
The grocery store does not sell me groceries at 2005 prices.
My mechanic does not repair my car at 2010 prices.
The government takes my taxes at 2023 rates, not what I was making when it was 2005.
Why should a tenant get half price rent?
Some tenants think landlords are scummy greedy people?
That's fine, go work for 5-10 years, save 50-200k, put all that money into a unit, hold a 400k mortgage, take the responsibility, liability, and (some)headache renting the unit, get paid LESS than the unit is costing you, don't forget a side of deadbeat squatters if your lucky. Then tell me I'm a greedy scummy person.
Quote:
Originally Posted by Great68
Also don't forget, the more these sort of bad faith evictions happen, the more likely legislation will be introduced to make the process more difficult, onerous, and with more compensation to the displaced tenants.
Reap what you sow.
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Unfortunately for the tenants, this is just going to raise rents even more. And many fail to realize that