Housing Crunch

[Sabumnim123]

*removed
Feel free to repost without the baiting and personal attacks.

[69cutlass]

[/quote]
for every pink shirt owner story - there are 100's of tenant stories in regards to bad owners.[/quote]

You are 100% incorrect. Their are many times more bad tenants vs bad landlords. Example of this is every single landlord will have at least one bad tenant story. Whereas every single tenant out there does not have a bad landlord story.

[Sparki55]

The asset owners holds all the risk. That’s life. You might as well be trying to get rivers to run uphill.

Hmm thats odd, cuz when I rent a car from Hertz I have to buy insurance or assume all damage to the car shall anything beyond cleaning be required. When I rent a hotel room they take my credit card and if the room is damaged or I steal the microwave they will charge my card. Seems the assest holder gets their money.

[alanjh595]

The asset owners holds all the risk. That’s life. You might as well be trying to get rivers to run uphill.

Hmm thats odd, cuz when I rent a car from Hertz I have to buy insurance or assume all damage to the car shall anything beyond cleaning be required. When I rent a hotel room they take my credit card and if the room is damaged or I steal the microwave they will charge my card. Seems the assest holder gets their money.

Both scenarios require a credit card. Maybe only those with a credit card can rent? Rent plus processing charges?

Landlords are limited to the damage deposit only, anything over and above that, requires a small claims suit.

[Hassel99]

Your CC is not going to help the hotel much if you accidentally burn it down...but hey at least the risk to the microwave is Mitigated....

[alanjh595]

That kind of damage and loss is covered by insurance. As for the microwave, hotel models cost about $20 to buy, if one is stolen, one can expect a charge of $200 on their CC. The hotel has the right to charge for the labour to install the replacement.

[Hassel99]

That kind of damage and loss is covered by insurance. As for the microwave, hotel models cost about $20 to buy, if one is stolen, one can expect a charge of $200 on their CC. The hotel has the right to charge for the labour to install the replacement.

Thanks tips, that is what we are taking about.

Still a huge risk to the owner of the asset. they can chose it minimize it by buying insurance, but insurance is never 100% coverage. But keep on telling us about damage to a $50 microwave like its relevant at all to the discussion of landlord motivation and asset risk.....

[Sparki55]

Your CC is not going to help the hotel much if you accidentally burn it down...but hey at least the risk to the microwave is Mitigated....

That level of damage is protected by the building insurance, same as a homeowner. Place burns down, homeowner insurance covers it. If the building was faulty and the wiring failed or an unfortunate forest fire consumed the house that is the landlords risk. If the tenant burned down the home because their pot plant grow system lit fire or they left the stove on with a pot melting butter then the tenant should be liable for the damage; why should the landlord have to pay for an irresponsible tenant?

Property owners should assume all risk
Property owners should rent for less, they are greedy
Property owners should not be allowed to screen applicants for pets, etc, discrimination!

Tenants have a right to housing
Tenants have to be accommodated no matter how outlandish
Tenants don't have to assume any risk, not my home not my problem
Also Tenants:
Where are all the rentals?!?!?!

[W105]

beats me why somebody would choose to become a Landlord ( the choice is YOURS) and really believe that there would be zero risks involved when the only way your investment can retain it's value to you is by renting it out to complete strangers ?? and the housing crunch increased in the last decade because there was very little rental housing being built and rental housing was being torn down and replaced with high end condos etc...

the scales have tipped now and rental housing is being built everywhere...the vacancy rate is and will be increasing...there will be a lot more renters in the near future since property values are at insane prices...

[Sparki55]

...
the scales have tipped now and rental housing is being built everywhere...the vacancy rate is and will be increasing...there will be a lot more renters in the near future since property values are at insane prices...

Can you provide a link for the new rental housing? I'm curious where it is located.

If property values go up, rent will go up. There will still be people wanting to purchase.

[W105]

sure I can provide you a link Sparky...go to google and type in rental housing being built in Kelowna and voila, you'll find many current articles about rental housing being built in Kelowna..

and yes, if property values go up so will rent...exactly what Poindexter pointed out..the property prices today most definitely factor in why there's a housing crunch whether it's people being able to afford to buy homes or buy them for investment purposes...and lots of people have to go from being a Tenant to taking one on just to be able to buy..

[alanjh595]

That level of damage is protected by the building insurance, same as a homeowner. Place burns down, homeowner insurance covers it. If the building was faulty and the wiring failed or an unfortunate forest fire consumed the house that is the landlords risk. If the tenant burned down the home because their pot plant grow system lit fire or they left the stove on with a pot melting butter then the tenant should be liable for the damage; why should the landlord have to pay for an irresponsible tenant?

Property owners should assume all risk
Property owners should rent for less, they are greedy
Property owners should not be allowed to screen applicants for pets, etc, discrimination!

Tenants have a right to housing
Tenants have to be accommodated no matter how outlandish
Tenants don't have to assume any risk, not my home not my problem
Also Tenants:
Where are all the rentals?!?!?!

How dare you Sparki? Going and using rational thought and realistic analogies. Shame on you!



That is a great summary of this and many other threads, all rolled into one.

[Sparki55]

sure I can provide you a link Sparky...go to google and type in rental housing being built in Kelowna and voila, you'll find many current articles about rental housing being built in Kelowna..

and yes, if property values go up so will rent...exactly what Poindexter pointed out..the property prices today most definitely factor in why there's a housing crunch whether it's people being able to afford to buy homes or buy them for investment purposes...and lots of people have to go from being a Tenant to taking one on just to be able to buy..

Thanks! I was typing in "rental developments, kelowna" and not getting good results, your wording worked better!

[miss_sterious]

We have an empty suite in our home that we don’t use, but also won’t rent out. We have just heard too many horror stories, and also dealt with issues when we used to own a revenue property. I’m sure that there are plenty of great renters out there, but the risk is just not worth it to us. We are not wealthy and could use the income, but refuse to assume the risk.

[Mike Br.]

Property owners should assume all risk
Property owners should rent for less, they are greedy
Property owners should not be allowed to screen applicants for pets, etc, discrimination!
Tenants have a right to housing
Tenants have to be accommodated no matter how outlandish
Tenants don't have to assume any risk, not my home not my problem
Also Tenants:
Where are all the rentals?!?!?!

This kind of mindset is exactly what makes landlording very difficult. Enshrine it in law, as our governments are doing it already, and you have people investing elsewhere. Then your “housing right” becomes a fantasy.