Rent communists!

[fluffy]

Today new landlords are entering the rental market because they see the potential for great returns. That is the basic flaw in this whole mess, housing is a basic need and right, and should never have been financialized to its current state. Converting existing properties to rental units is especially sinister.People before profits. If looking to provide a better life for Canadians in general is communism then sign me up. People before profits.

[Patron]

this makes no sense to me ? how is the rental rate history going to protect a renter ?

the idea of paying rent on time helping your credit history is great, but it will not get you a lower interest rate or give you the ability to purchase your own home- the only thing that can make that happen is your employment income and if you have a down payment

[George Orwell 1984]

Jt flailing away in a feeble attempt to get a couple votes back from millennials, nothing more . This will create zero ability to qualify for a loan and even less rentals on the market . FAIL

[Hurtlander]

If renters are to be given all these rights by the Trudeau government, there should be a trade off to make it justifiable to landlords. For example, since Justin thinks that rent payments should be used to help build equity and a credit rating, renters should then be made to help cover some of the costs involved with the risk of home ownership that landlord’s are forced to deal with, things like emergency roof or plumbing issues, furnace repairs, appliance repairs etc..

[liisgo]

Today new landlords are entering the rental market because they see the potential for great returns. That is the basic flaw in this whole mess, housing is a basic need and right, and should never have been financialized to its current state. Converting existing properties to rental units is especially sinister.People before profits. If looking to provide a better life for Canadians in general is communism then sign me up. People before profits.

That's a lot to say there.
This I gotta see, can you provide the example supporting this opinion.
Please include the financials that all contribute to the great investment.
Tax's, strata, insurance, damages from tenants, normal maintenance, legal fee's, etc.

why do they see the potential for great returns? The floor is yours.

[Patron]

If renters are to be given all these rights by the Trudeau government, there should be a trade off to make it justifiable to landlords. For example, since Justin thinks that rent payments should be used to help build equity and a credit rating, renters should then be made to help cover some of the costs involved with the risk of home ownership that landlord’s are forced to deal with, things like emergency roof or plumbing issues, furnace repairs, appliance repairs etc..

lol- now you want renter's who are already paying a LL's entire mortgage costs, which the LL can write off the interest on and all the expenses you mentioned to pay even more ? sorry but that's just as ridiculous as this idea is-

if this Government wants to actually do something about our housing crisis start building income based rentals immediately , which will create much needed competition on market rental rate and slow down immigration until this housing issue is under control

[fluffy]

why do they see the potential for great returns? The floor is yours.

Why would they enter the market as an investor landlord if there wasn't some money to be made ? I'd like to see a regulatory climate that makes being an investor landlord less attractive. Like tying rental rates to actual expenses. Today you have landlords with properties bought when the market was a lot lower using "market rates" as an excuse to reap double digit returns on the tenants' dime.

[fluffy]

if this Government wants to actually do something about our housing crisis start building income based rentals immediately , which will create much needed competition on market rental rate...

Bingo. The start of the run-up in rental rates began with government getting out of social housing.

[rustled]

why do they see the potential for great returns? The floor is yours.

Why would they enter the market as an investor landlord if there wasn't some money to be made ? I'd like to see a regulatory climate that makes being an investor landlord less attractive. Like tying rental rates to actual expenses. Today you have landlords with properties bought when the market was a lot lower using "market rates" as an excuse to reap double digit returns on the tenants' dime.

The objective of socialism is for the government to take full control of supply. Ensuring there are no investors is a means to that end: ensuring the government controls housing supply.

This has never worked to benefit "the people" anywhere else - it has always resulted in worse outcomes for people. But this time... this time it will benefit the people!

Explain these "double digit returns", please. TIA.

[Gone_Fishin]

why do they see the potential for great returns? The floor is yours.

Why would they enter the market as an investor landlord if there wasn't some money to be made ? I'd like to see a regulatory climate that makes being an investor landlord less attractive. Like tying rental rates to actual expenses. Today you have landlords with properties bought when the market was a lot lower using "market rates" as an excuse to reap double digit returns on the tenants' dime.

Is making a good investment a bad thing in this country now?

Perhaps since the NDP Liberals have blown money willy-nilly for the past 8 years with nothing to show for it, that mindset is engrained in the pea-brains of their supporters: people who make money are evil and should be shot and pizzed on.

Trudeau's stupid announcement is further evidence of the complete lack of awareness about the consequences of his actions. Housing starts will dwindle to nothing if the people building and providing housing are forbidden to make a living at it.

[normaM]

ya people before profit not viable. If it was we'd not pay mark ups on essentials
Social Housing has been a Provincial responsibility since the 90s
The Fraser Institute published a good article re the housing crisis saying there are no solutions only trade offs
https://www.fraserinstitute.org/article ... trade-offs

[Hurtlander]

If renters are to be given all these rights by the Trudeau government, there should be a trade off to make it justifiable to landlords. For example, since Justin thinks that rent payments should be used to help build equity and a credit rating, renters should then be made to help cover some of the costs involved with the risk of home ownership that landlord’s are forced to deal with, things like emergency roof or plumbing issues, furnace repairs, appliance repairs etc..

lol- now you want renter's who are already paying a LL's entire mortgage costs, which the LL can write off the interest on and all the expenses you mentioned to pay even more ? sorry but that's just as ridiculous as this idea is-

if this Government wants to actually do something about our housing crisis start building income based rentals immediately , which will create much needed competition on market rental rate and slow down immigration until this housing issue is under control

Bull.. From the article https://www.castanet.net/news/Canada/47 ... udeau-says
“ The federal government wants to support those who rent their homes with a protection fund, a bill of rights and a plan to give reliable renters credit when they step up to buy a home.

Prime Minister Justin Trudeau says there's something fundamentally unfair about paying $2,000 a month for rent, while those paying the same for a mortgage get equity and build their credit score.”
———————————————
The LL has to carry the risk of being responsible for all emergency home repairs, as well as regular upkeep and maintenance to keep the equity in their property, and also make certain that the mortgage is paid on time to maintain their credit score.. So why exactly should a renter suddenly be given the privilege of building their credit score simply because they pay their rent on time to a private individual, but don’t have to assume any of the risk of homeownership to build their credit score. If the same renter has a car loan and pays it on time, they build a credit score, but at the same time they are also fully responsible for all maintenance on their car, not the financial institution that they borrowed the loan from.

[The Green Barbarian]

Why would they enter the market as an investor landlord if there wasn't some money to be made ? I'd like to see a regulatory climate that makes being an investor landlord less attractive.

The only people who would propose this kind of insanity are those that want a government-manufactured house-building shut down. Which would only further exacerbate the housing crisis, and cause even MORE human suffering. It's stupidity like this (all borne out of some kind of moronic jealousy that someone, somewhere, might be making money, how dare they!) that further exemplifies why the NDP and their evil minions have to be kept as far away from the corridors of power as possible. Their bad "regressive" ideas are tired, old and have failed everywhere they have been tried. Of course they fail. Because it's always always about screwing over those that take all the risk and do all the work.

[monilynno]

Could the Boy Blunder have come up with a bigger disincentive for rental real estate developers, I think not. It's like he want's more Trudeau Towns all over the nation. https://www.youtube.com/watch?v=zFSLcv-B0oc

[BC Landlord]

I'd like to see a regulatory climate that makes being an investor landlord less attractive.

What you are describing here are small landlords (1-4 units) who invested in their rentals, the vast majority of whom have put in a tremendous amount of hard work and sacrifices to make it happen. To most of them, it is their retirement plan. And now, you would like to see that "less attractive". I hope you realize, small landlords account for about 40% of the rental stock. Do you really want them out?