New rules for rent inceases,

[GrooveTunes]

https://www.theglobeandmail.com/real-estate/vancouver/the-push-for-rental-only-zoning-in-vancouver/article37112481/

[hobbyguy]

http://marketurbanism.com/2008/06/01/rent-control-part-4-conclusion-and-solutions/

SNIP

"Not only does rent control cause huge distortions in the housing market, but the burdens fall disproportionately on the poor and underprivileged people it was intended to benefit. Although particular people are able to live with the comfort of low rent payments, even those renters will see their living conditions deteriorate as landlords neglect repairs and maintenance. As the situation gets worse, middle class residents are able to move away, leaving behind the poorest residents who have become reliant on the reduced rent.

"In effect, rent control grants property rights to renters, that originally belonged to the original property owners. Rent control becomes a redistribution of wealth to rent control tenants away from apartment owners, market apartment renters, and newcomers to the area. Nonetheless, over time the quality of life decreases for all residents of a city where rent control is imposed."

There are consequences to all moves to take away property ownership rights from landlords.

I won't rent out in BC. It is a nightmare if you get a bad tenant, or one that goes bad.

Dear renters: it ain't your house! It ain't your apartment! It belongs to someone else. If the market rent price is too much for you, that isn't the landlord's problem, that's your problem. Privately owned rentals are NOT social housing.

Ever wonder why there is so little purpose built rental housing being built? Because with all the renter's rights nonsense and controls it is a bad investment.

It used to be really quite easy to find reasonably priced rental apartments in BC cities, including the lower mainland. Why is rental housing being torn down and replaced with "for sale" condos? In part because that is a better investment than renting the units out.

If private wont build it which they havent been anyways. The govt will. You want a dam theres,going to be trade offs,like i said .this is going to be one of them.

Carefull what you wish for .now good news for ndp is the renter population is double the land lord scammer population so think of it as, votes. And dealing with social issues at same time .

I expect alot more is going to change and if the bckibs think a winning stratagy will be reversing it well hope you like the opposition seats

MJ - so you state that private landlords won't build rental housing. Yup, that's the point.

Private investors used to build purpose built purpose built rental accommodation.

My father used to own a small apartment building. It wasn't super profitable. Not by the time you accounted for proper maintenance etc. It was steady income though, kind of like you would view a GIC as part of an investment portfolio, lackluster returns, but year in, year out steady. Not a lot of turnover in the units because the building was well maintained and rents were reasonable, which the market dictated because (if memory serves me correctly) the vacancy rate was 3-4%. You had to treat your tenants fairly as they had choice, they were your customers. If a tenant played loud music and was rowdy - out the door because they were annoying your other customers. Then along cam the "tenants rights stuff" and the rent controls. No longer was managing the building a simple and straightforward low cost thing. It drove costs up, even getting rid of bad tenant cost lawyer's fees etc. - not to mention often months of hassle and lost rent. My dad lost a couple of good tenants because of a bad one he couldn't get rid of, which cost even more money. Increase the rents to cover those costs and lost revenue? Couldn't do it - the rent controls wouldn't allow for it. Answer - dump the building to a developer - long torn down and replaced by "for sale" condos.

The whole "renters rights" thing and rent controls forced solid landlords who weren't looking to gouge folks out of the market. That degraded the quality of landlord, and slowly but surely as "tenant's rights" and rent controls get harder and harder to deal with, only the shysters remain - the folks who will use every loophole to dump good tenants for a few $$. So the "renter's rights" nonsense and the rent controls had the perverse effect of driving the kind of landlord you want in the market out! It created a "race to the bottom" for landlords.

That's where the NDP and "renter's advocates" have it completely wrong. They are the ones who have created the rental shortage through myopic and simplistic thinking. Yes, there needs to be a balance. But there was a balance, and the bad tenants created the mess that others now are stuck with. It was bad tenants, the folks that nobody wanted to rent to or keep as tenants, who were behind the whole thing. Yah, there were a few bad landlords, but when you have a real vacancy rate around 3-4% the market punishes them, they can't get good tenants.

Stop and ask yourself? Who owns the property? The tenants certainly don't. Yet the tenants advocates would like to think so. Is it a "right" that a building owner should have to put up with destructive, deadbeat, bad actor tenants? Nope. But those are exactly the people who scream the loudest. Yet those people are the ones driving up costs and rents for others.

Is it any wonder that very, very few investors will touch purpose built rentals?

[GrooveTunes]

Interesting the link above makes a lot more sense then blaming tenants, lol.

[countrypines26]

What our the addresses for encouragement letters to MLA's or local government bodies that may have influence

[JLives]

Why is it it greed for a landlord to get as much as the market demands? If I have a place renting for $1200 and the market goes up and a year later the going rate for said rental is $1600.....damn right I’m going to increase the rent. Is that greed....no it’s called good business. And trust me, there is always a way to get new tenants...

Yes that is greed. Everything doesn't need to have a profit motive. People need somewhere to live. These are homes not businesses. I think we should ban foreign ownership of properties and limit the number of residences people can own to 2 with you living in one of them. Greed is putting people in the streets. We can do better.

[Buckeye19]

Yes that is greed. Everything doesn't need to have a profit motive. People need somewhere to live. These are homes not businesses. I think we should ban foreign ownership of properties and limit the number of residences people can own to 2 with you living in one of them. Greed is putting people in the streets. We can do better.

Remove the motive and you reduce the amount of available housing anyways which is what you guys always fail to see. That in turn will drive rental cost up. You can try and limit what people can own/charge until the cows come home but your ideas fail when put to the test every time.

The bottom line is people can and will charge whatever the market allows. There are always ways to get around silly regulations. They own the home, not the renter.

[vegas1500]

Why is it it greed for a landlord to get as much as the market demands? If I have a place renting for $1200 and the market goes up and a year later the going rate for said rental is $1600.....damn right I’m going to increase the rent. Is that greed....no it’s called good business. And trust me, there is always a way to get new tenants...

Yes that is greed. Everything doesn't need to have a profit motive. People need somewhere to live. These are homes not businesses. I think we should ban foreign ownership of properties and limit the number of residences people can own to 2 with you living in one of them. Greed is putting people in the streets. We can do better.

Why would a private individual own places and rent them out....now pay attention, it’s for a profit! It is not up to me as a private individual to supply affordable housing. And yes, it is a business. What do you think it is, a not for profit organization? Rental places need to be profitable or what’s the point.....I’ll stop now because clearly landlords and bleeding hearts have differnt opinions.

[Gone_Fishin]

Yes that is greed. Everything doesn't need to have a profit motive. People need somewhere to live. These are homes not businesses. I think we should ban foreign ownership of properties and limit the number of residences people can own to 2 with you living in one of them. Greed is putting people in the streets. We can do better.

Good idea. Renovate your basement and let the homeless use it for free. If it works out, maybe others will follow your example. If it doesn't, at least it shows your willingness to put your money where your mouth is. Your use of "we" shows that you include yourself in the solution, so fly at 'er.

[maryjane48]

Like i said if you want to not rent fine.prove you had it renovated to not be a suite and pay a tax for conversion

No one cares
But social housing will be provided and there is zero any of us,can do about it as its right thing to do

[LTD]

Why is it it greed for a landlord to get as much as the market demands? If I have a place renting for $1200 and the market goes up and a year later the going rate for said rental is $1600.....damn right I’m going to increase the rent. Is that greed....no it’s called good business. And trust me, there is always a way to get new tenants...

Yes that is greed. Everything doesn't need to have a profit motive. People need somewhere to live. These are homes not businesses. I think we should ban foreign ownership of properties and limit the number of residences people can own to 2 with you living in one of them. Greed is putting people in the streets. We can do better.

omg that's priceless spoken like someone whos never owned a home and clearly never rented one out and while we're at lets go full communism and restrict how many homes you can own ahahahahahaha that's a really good one

[CapitalB]

Yes that is greed. Everything doesn't need to have a profit motive. People need somewhere to live. These are homes not businesses. I think we should ban foreign ownership of properties and limit the number of residences people can own to 2 with you living in one of them. Greed is putting people in the streets. We can do better.

omg that's priceless spoken like someone whos never owned a home and clearly never rented one out and while we're at lets go full communism and restrict how many homes you can own ahahahahahaha that's a really good one

I just wanted to point out that communism would mean the government owning all the homes. What JLives proposed is just a very heavy sanction on the free market, and while I'm usually all for bringing the balance back to real people from businesses this is not the way. For one thing it would just force people who want to own multiple properties to form or joint a real estate owning company. Which ultimately would just concentrate properties into the hands of fewer and fewer people.

I don't think theres an easy solution to this problem. Regulating middle class homeowner/property renters isn't effecting the real problem in any way. In all likeliness the real estate market isn't the real problem since the problem is that the amount of money people make and the amount they pay on necessities are getting closer and closer together for many people. Sure the government could make it better by regulating property prices, or creating social housing projects but those are just bandaids and ultimately will have little long term effect.

[hobbyguy]

Like i said if you want to not rent fine.prove you had it renovated to not be a suite and pay a tax for conversion

No one cares
But social housing will be provided and there is zero any of us,can do about it as its right thing to do

YOU gonna' pay for it? Or does money magically appear with a wave of Dumbeldor's wand?

[hobbyguy]

https://www.theglobeandmail.com/real-estate/vancouver/the-push-for-rental-only-zoning-in-vancouver/article37112481/

Yup, I have been saying for a looong time that two measures needed to be put in place for Vancouver:

1) IF the site was rental housing, only rental housing can replace it.
2) Define and set up areas where multi-story buildings are NOT currently zoned, plan transit to them, and zone such that multi story can be built there, but only rental housing with a small percentage of mixed use at ground level to service the rentals.

That's not rocket science. Why?? Has the NDP junior varsity Vision party and bicycle Gregor Robertson and his henchman Geoff Meggs been ignoring the obvious? Are they that stupid? Methinks not... which leaves open some very interesting questions...

[maryjane48]

By allowimg site c john will have to try and win back his base .you havent seen anything yet

But facts are. Housing will be socialised. As private route didnt work .bssic income will.also be introduced .
If cambie st thought they were being bullyed which they werent but. They to dense to figure it out just wait things get worse for you here on in

[alanjh595]

Those are not facts, those are just your dreams. Just like all dreams, they are not real.