BC Eviction Rate

[Patron]

I think you also forgot about the Spec/Vac taxes and what you have to declare on your income taxes if you live in a region where are imposed.

Sorry I don't understand how those taxes/processes results in an inability to pay/use a PM company if the LL isn't claiming the income. Could you elaborate a little?

If you aren't living in the property full time it is then subject to the tax, so if you are renting it to prevent the spec/vac tax then the CRA already knows your a LL, you've told them so or you can pay the other taxes. So why as a LL would you not want to claim every single expense that you can when getting caught with fraud is way more easier now. Government wants to now know what each and every person owns and if it's property what it's being used for. ( google the spec/vac and transparency act)

Anyways we were told to go back to Topic 37% of the Eviction Rate is from selling, that number should lower because of the higher rates, less people not selling due to the lower house prices and hopefully that means more Rentals or more people staying put.

[rustled]

37% of the Eviction Rate is from selling, that number should lower because of the higher rates, less people not selling due to the lower house prices and hopefully that means more Rentals or more people staying put.

That 37% figure is from a Canada-wide survey, pre-2022.

Different provinces had different controls in place.

We don't know how the questions were worded.

Without any data showing what has actually been happening in BC vis a vis evictions, relying on this sort of out-of-context data may lead to inaccurate conclusions AND support for inappropriate policy responses.

[Sparki55]

If you aren't living in the property full time it is then subject to the tax, so if you are renting it to prevent the spec/vac tax then the CRA already knows your a LL, you've told them so or you can pay the other taxes. So why as a LL would you not want to claim every single expense that you can when getting caught with fraud is way more easier now. Government wants to now know what each and every person owns and if it's property what it's being used for. ( google the spec/vac and transparency act)

Using a PM costs more money than you get back in expenses, you don't make extra money from using a PM...

The BC government and the CRA are separate government departments, they don't talk. The BC government is only interested if someone is renting your unit, a written agreement is not required, and nowhere is it recorded how much the renter is paying. The CRA would have a heck of a time finding the amount to charge and therefore will not bother. Going after a landlord for about $15,000 profit (average mom and pop rental) will only net around $4,000 in taxes and is not a good use of taxpayer's money.

Anyways we were told to go back to Topic 37% of the Eviction Rate is from selling, that number should lower because of the higher rates, less people not selling due to the lower house prices and hopefully that means more Rentals or more people staying put.

[BC Landlord]

Anyways we were told to go back to Topic 37% of the Eviction Rate is from selling, that number should lower because of the higher rates, less people not selling due to the lower house prices and hopefully that means more Rentals or more people staying put.

And you were told that that number is bogus, and explained why. The whole purpose of the article was to paint landlords "mean" for mostly evicting tenants on manipulative basis. This can't be further from the truth. In reality, most tenants are evicted for serious breaches of contract, non-payment of rent being at the top of that list.

[Patron]

If you aren't living in the property full time it is then subject to the tax, so if you are renting it to prevent the spec/vac tax then the CRA already knows your a LL, you've told them so or you can pay the other taxes. So why as a LL would you not want to claim every single expense that you can when getting caught with fraud is way more easier now. Government wants to now know what each and every person owns and if it's property what it's being used for. ( google the spec/vac and transparency act)

Using a PM costs more money than you get back in expenses, you don't make extra money from using a PM...

The BC government and the CRA are separate government departments, they don't talk. The BC government is only interested if someone is renting your unit, a written agreement is not required, and nowhere is it recorded how much the renter is paying. The CRA would have a heck of a time finding the amount to charge and therefore will not bother. Going after a landlord for about $15,000 profit (average mom and pop rental) will only net around $4,000 in taxes and is not a good use of taxpayer's money.

Anyways we were told to go back to Topic 37% of the Eviction Rate is from selling, that number should lower because of the higher rates, less people not selling due to the lower house prices and hopefully that means more Rentals or more people staying put.

The BC Government and the CRA don't talk has got to be the dumbest thing I have read in awhile, lol.

[Patron]

*removed*

[BC Landlord]

*removed*

[Sparki55]

The BC Government and the CRA don't talk has got to be the dumbest thing I have read in awhile, lol.

The CERB and EI departments don't even chat with each other unless there is a dollar amount to submit.

They don't, call them up and ask if you want tho. The spec tax can be for a numbers of reasons, the CRA isn't going to audit spec claims for lost taxes from landlords. If they were planning this, it would already be in the news.

[Catsumi]

So a LL would pay 10+% to a PM and not want to claim that expense on their taxes ?? sorry i don't think you are correct about that

You really don't understand how this works. To elaborate on what BCLandlord has highlighted:
If they're not paying the taxes associated with the rental income, then there is no way to claim (AKA "write off") the cost of a PM company. Furthermore; It's way cheaper to not claim the income (and not pay the tax on that income) than it is to claim the income, then apply to write off SOME of that tax by claiming expenses. In other words, the LL will ALWAYS come out ahead if they don't claim the income AND not claim the expenses. Assuming they're not caught of course ;)

Speaking of taxes - that could be a way to incentivize folks into becoming landlords, decrease evictions, AND reduce income tax fraud. Tax rental income at a lower rate than they tax other/general income.

You might be onto something there Tyler that might help increase the rental units available.

But then, of course, you will have opposition from the whiners crying that it’s unfair. And they’ll find a thousand reasons more to keep them shooting their feet off.

[TheBanHammer]

Bc it turns out has the highest eviction rate compared to every other province. Not only that , BC has the easiest way to evict people compared to the other provinces .

https://vancouversun.com/news/local-new ... -evictions

Yet there is a 4 month waiting list to get a sheriff to preform one, weird.

[BC Landlord]

Yet there is a 4 month waiting list to get a sheriff to preform one, weird.

Go to the nearest chapter of Hells Angels and buy them a case of beer.

[TylerM4]

Yessir. Super easy to evict in BC.
https://www.castanet.net/news/Kelowna/3 ... ord#383009

Turns out you can have the Bylaw, fire dept, and RCMP on your case and threatening to fine or take matters into their own hands for not evicting... meanwhile the RTB still won't allow the eviction.

Let's see where this landlord is now at:
- 1st attempt at evicting April 1 2022
- Hearing recently delayed until Jan 12 2023
- Really doubtful tenants will leave of their own accord. Needs to go to court for a possession order. 3 months is fastest anyone can expect for this. April 12 2023.
- 4 month wait for sheriff services after getting the protection order. August 13 2023.

In other words: Best case scenario is that this landlord has them out 1 year from now. 16 months after his 1st attempt. And let's be honest - how often does the best case scenario manifest?

Meanwhile we have a crowd in this thread who still thinks more needs to be done to protect tenants, they refuse to see the risk of this exact scenario as a big reason for why people aren't investing in rental properties, and their position is "Landlords fault for not screening tenants better".

Information right there in front of eyes, yet refusal to see/believe it. No wonder society is falling apart.