Wealthy Landlord wants sympathy

[BC Landlord]

I think this landlord is owed an apology. It's been determined that he has been accused of being not very smart for:
- not relying on luck with tenants changing every year or two.
- based on gut instinct
- for not planning for market extremes not seen in the last 40 years
- for not utilizing a process that doesn't make financial sense

Other than your mockery of my points, I would agree that the landlord in question is not the smartest cookie in the jar. Otherwise, he would not be appealing to media for help in his business matters.

[BC Landlord]

Respect. Thank you for the debate and for your positive attitude.

Likewise

[BC Landlord]

I have seen one of BCLLs rental properties, absolutely gorgeous. Had I rented from him and not bought instead, I’d be his worst nightmare as I’d stay for a decade!

Hey Cats, that would be a challenge ..

[Catsumi]

I have seen one of BCLLs rental properties, absolutely gorgeous. Had I rented from him and not bought instead, I’d be his worst nightmare as I’d stay for a decade!

Hey Cats, that would be a challenge ..

Skunks are wonderful tenants to have. Super clean. Super quiet.

[BC Landlord]

Hey Cats, that would be a challenge ..

Skunks are wonderful tenants to have. Super clean. Super quiet.

And you would always make inwards here. I always get good tenants, because I have a good method for picking them. None of these "greedy landlord" theorists ever get even close to my properties.

[countmeout]

Losing 6 months of rent to re-rent at a 20% increase would take 2.5 years just to break even.

I don't think it would take that long, but I do not like people taking advantage of me. Pay rent as it's worth, or leave.

He clearly doesn't grasp the math, starting to doubt they are even a successful landlord.

[fluffy]

Building a dedicated rental building is somehow better than buying a property and dedicating it to rental purposes?

Yes. Building a new rental unit does not weaken the sales inventory which is in short supply as well. This is not higher math.

[fluffy]

Again in the same way I would suggest a renter who cant afford to live here move to somewhere they can.

Gentrification. Who is going to pour your coffee and flip your burgers if low wage earners cannot afford to live there. A well balanced economy has people from all wage classes, but not if they have to live in their cars.

[countmeout]

Yes. Building a new rental unit does not weaken the sales inventory which is in short supply as well. This is not higher math.

There isn't a difference... Building a dedicated rental means
a dedicated for sale isn't being built...

If the mission group looks at their next build, has enough money to start one project, and they choose to build for rent only, now they aren't building for sale stock.

It's no different than if the mission group built for sale units and investors bought them to rent. The same reduced for sale to owners happens.

I suppose you're angry at the government for removing rental restrictions in condo buildings? So many more sales inventory now can go to rentals...

[countmeout]

Gentrification. Who is going to pour your coffee and flip your burgers if low wage earners cannot afford to live there. A well balanced economy has people from all wage classes, but not if they have to live in their cars.

The solution isn't to subsidize their housing. The solution is to figure out why the work they perform (pouring coffee) isn't valued and paid more.

I suspect the lack of manufacturing jobs and other things we send off shore leave a larger pool of people who have to work in service. Bring back some better jobs and landlords won't seem so greedy since there will be higher wages.

[fluffy]

There isn't a difference... Building a dedicated rental means a dedicated for sale isn't being built...

With new construction unit is being added to existing inventories, not so with a simple conversion of sale to rental. You're robbing Peter to pay Paul so to speak.

[fluffy]

The solution isn't to subsidize their housing. The solution is to figure out why the work they perform (pouring coffee) isn't valued and paid more.

I suspect the lack of manufacturing jobs and other things we send off shore leave a larger pool of people who have to work in service. Bring back some better jobs and landlords won't seem so greedy since there will be higher wages.

Agree to a point, but take a quick scan through the minimum wage thread to see what the sentiment is on better pay for low income earners.

The decimation of our manufacturing sector is yet another symptom of profit over people. Since the early 70's when Freidman style economics gained momentum (Reaganomics, Thatcherism, etc.) the guiding principle has been the bottom line, and the the human element became a ledger entry under "expenses".

It's the same with Mr. Kochhar's complaint, the human factor takes second place for his need to turn a profit. Sure, profit is what business is all about, but what do we do about the increasing number of individuals and young families being left in the lurch ? Simply telling them to move or get a better job is an extremely uniformed and short-sighted viewpoint, right in there with telling an addict he should just quit.

[countmeout]

It's the same with Mr. Kochhar's complaint, the human factor takes second place for his need to turn a profit. Sure, profit is what business is all about, but what do we do about the increasing number of individuals and young families being left in the lurch ? Simply telling them to move or get a better job is an extremely uniformed and short-sighted viewpoint, right in there with telling an addict he should just quit.

We turn to our government to open opportunities for us to employ people with good salaries.

We don't strangle those with assets to provide them to people, subsidized by the asset owner. That creates nothing, doesn't promote investing in providing more rentals.

[fluffy]

We turn to our government to open opportunities for us to employ people with good salaries.

How's that been working out ?

We don't strangle those with assets to provide them to people, subsidized by the asset owner. That creates nothing, doesn't promote investing in providing more rentals.

Housing is a basic human need and right, it never should have been lumped in with traditional investments as a wealth producing vehicle. What is happening now is that people are still jumping in to the buy-to-rent game, even though the rents required are ridiculous. Call me idealistic, but shouldn't a responsible society offer a better life for all its members ? How are we going to achieve that by catering to just a few ?

[BC Landlord]

Housing is a basic human need and right, ...

No, it's not. Only ACCESS to it is a right. You still have to pay the market rent.