NDP tackle fixed term leases loophole

[maryjane48]

https://globalnews.ca/news/3777657/hous ... -imminent/


ndp get the job done while the bclibs ignored it .

[LordEd]

Robinson wasn’t able to say exactly when legislation targeting the so-called loophole would be tabled, save to say that it was “imminent.”

Yeah... Looks really done doesn't it.

[The Green Barbarian]

Not sure what the *removed* are going to do here, but really they only have one "go to" when it comes to rental issues and that's the implementation of rent controls. This act serves two purposes for them, they get to punish those evil greedy capitalist landlords who are making money and so therefore are evil, and the second more important purpose, they get to hire hundreds more needless government drones to administer said controls. Win win in the tiny mind of the New Dumb. Of course rent controls really just end up punishing renters, as landlords stop spending money on their buildings they do have, and stop building new buildings, which means that there is no place to rent anything. In short, they don't work.

So if the NDP is "brain-trust" is just dreaming up some idiotic rent control "solution", then once again they are blundering stupidly into an imagined "problem", and making a fake problem into a real one. Again. What else is new with these people.

[seewood]

I suspect this will backfire, but what else is new with the NDG..
I have no doubt there are landlords that use the lease system to keep bumping up the rental rates. However I'd also believe there becomes a point when the rental price for a particular unit becomes so unaffordable and no one will rent it. Better drop the price. If a realistic rate of return cannot be made through long term rentals then switch to Air B&B is likely.
What would happen if landlords decided to cash out and the units are now being lived in or torn down for more expensive condo's or estate type houses? More rental units are out of the available pool is the first thing that happens.
What person would build rental units when some one else ( government) dictates to what the rental rates are and terms of rent.
The system today with the RTB are swayed to the tenant and have in my opinion, created more Air B&B's showing up than long term rental units. For example I cannot fathom why after giving a legal eviction and the tenants move out but cannot find anything, the landlord has to pay for the rental of a storage unit for the tenants stuff. The RTB will make the tenants problems the landlords problems. Hate that.
Personally, I would use a 6 month lease to see what the tenants are like regardless of references, before considering anything longer.

[Smurf]

When we owned rental properties I would likely have sold them if to many restrictions hindered our business. There is a fine line between rentals and other investments and it would not take many problems for a lot of landlords to drop out or change how they do things. The NDP could find out it is not as easy as they think it is.

[maryjane48]

only the rent gougers will have a problem as it is tge classic if no one can afford your service you are out of a income from rent. the bclibs gutted the rental rules in favour of the land lords and now a correction will be implemented. dont like then stop renting as no one will care if greedy folks are upset . vancouver and i suspect the rest of bc will have empty suite taxes put in place . so they will pay one way or the otherc .

[Rider59]

https://globalnews.ca/news/3777657/housing-minister-says-legislation-to-end-fixed-term-lease-loophole-imminent/


ndp get the job done while the bclibs ignored it .

[seewood]

only the rent gougers will have a problem as it is tge classic if no one can afford your service you are out of a income from rent. the bclibs gutted the rental rules in favour of the land lords and now a correction will be implemented. dont like then stop renting as no one will care if greedy folks are upset . vancouver and i suspect the rest of bc will have empty suite taxes put in place . so they will pay one way or the otherc

Do you honestly believe an owner of a property that is being used for long term rentals do not have other options to generate revenue from said property?
It sounds like you believe if the unit is not rented then some government jurisdiction will impose an empty suite tax???? Hint MJ, take a look at the map of the world, we are in Canada and if an owner of a property does not rent a suite, house or condo they DO have the option to sell to just about whom ever they want to.
In Whistler not many years ago and perhaps even today, the wages paid are not enough to rent suitable accommodation so the " 4 million $$ cabins" would have 10+ people in there. Basically closets were being rented out. I believe the media reported on this. Greedy landlords? Perhaps. Some owners just wanted someone else to pay the mortgage.
How is a empty suite tax going to work? You own a house for example that may be worth 3 million( Vancouver price), no fault of your own, so to rent it out at a 5% return.....$12,500 month rental.... 25 people in the house at $500.00 each.. By-Law is going to be busy. I have a difficult time believing the city will make or stipulate the owner rent it out for say $2000.00 a month with the chance it will get trashed from a lousy tenant. That would be an interesting news cycle with corresponding law suits.

[The Green Barbarian]

the bclibs gutted the rental rules in favour of the land lords : .

really? Did they? Are you sure? This constant mantra of "the Liberals favoured the greedy business people" really sounds like communist dogma, and pure made up nonsense.