Rent communists!

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The Green Barbarian
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Re: Rent communists!

Post by The Green Barbarian »

BC Landlord wrote: Apr 4th, 2024, 9:17 am
Catsumi wrote: Apr 3rd, 2024, 7:00 pm

^^^^^

And, with that possibility hanging over their heads like the Sword of Damocles, more rental units simply vanish from the market.
And you are absolutely right, Cats. I for one am considering downsizing my business. With the amount of work, travel and expenses, and all for mediocre returns, adding more risks just doesn't cut it any longer.
and with that...welcome to the new Canada aka Venezuela norte....all because of the unintended consequences of bleeding heart Niberal bags of turds....
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Re: Rent communists!

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Catsumi wrote: Apr 4th, 2024, 9:29 am So, it seems that we’ve gone full circle here

Renters screaming that there’s no place to rent that doesn’t cost an arm and leg

BC Govt thinks for a nanosecond and comes up with grand plan to finish off AirB+B’s, which will result in instant long term rentals. Wrong

In the meantime, the Fed Govt in its wisdom, allows a million with more to come, immigrants into the country to compete for housing.

Restrictions on Landlords and free passes granted to renters by both levels of govt, Landlord figures he can sell the rental and benefit more from investing in stock market.

The houses that go up for sale are bought by those who saved and of course, the new immigrants.

Now govt involves itself with building housing, at great cost to taxpayers and too few to make any difference

The Renters are screaming there’s no where to rent at any price
^^^
Such was the case in New York when the supposedly well-meaning yet incredibly stupid Democrats introduced rent controls. Landlords walked away from their buildings in droves because they couldn't afford to keep them up any more, and whole blocks just fell apart, leaving people living in rent controlled slums. When you declare war on landlords, you cause nothing but mass human suffering.
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Re: Rent communists!

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Catsumi wrote: Apr 4th, 2024, 9:29 am Restrictions on Landlords and free passes granted to renters by both levels of govt, Landlord figures he can sell the rental and benefit more from investing in stock market.

The houses that go up for sale are bought by those who saved and of course, the new immigrants.
And I'm pretty sure the anti-landlords crowd would be gleeful at the prospect of small landlords exiting the market by selling their rentals. For some erroneous reason, they believe that it would create some sort of a tsunami of properties flooding the market, thus driving RE prices down. Nothing could be further from the truth, though. Such properties would be very slowly absorbed by the market as primary residences, leaving the ever increasing demand for rentals with even fewer choices.

And I'll keep repeating this, .. Small landlords (1-4 units) account for about 40% of the entire rental stock. No one in clear mind would want to chase them away. And it's certainly not in renters' interest.
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Re: Rent communists!

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The Green Barbarian wrote: Apr 4th, 2024, 9:29 am and with that...welcome to the new Canada aka Venezuela norte....all because of the unintended consequences of bleeding heart Niberal bags of turds....
I believe, it's by design. The left despise free markets. What their game plan is to position themselves as the "provider of all people's needs", thus keep plebs captive to their government. And landlords as entrepreneurs are in their way.
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Re: Rent communists!

Post by The Green Barbarian »

BC Landlord wrote: Apr 4th, 2024, 5:47 pm
The Green Barbarian wrote: Apr 4th, 2024, 9:29 am and with that...welcome to the new Canada aka Venezuela norte....all because of the unintended consequences of bleeding heart Niberal bags of turds....
I believe, it's by design. The left despise free markets. What their game plan is to position themselves as the "provider of all people's needs", thus keep plebs captive to their government. And landlords as entrepreneurs are in their way.
:up: :up:
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Re: Rent communists!

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So the Liberal party of Canada basically caused all this supply and demand issue of housing and rental properties, via uncontrolled and extremely poor management of immigration, and the same that support this liberal party are now here accusing landlords as the problem?
Really, the left caused all this.
rent communists??? more like liberal communists.
"If I find out who's been running this country for the last 8.5 yrs into the ground, there will be hell to pay",,,,,,,,,Prime Minister Justin Trudeau.
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Re: Rent communists!

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liisgo wrote: Apr 4th, 2024, 8:44 pm So the Liberal party of Canada basically caused all this supply and demand issue of housing and rental properties, via uncontrolled and extremely poor management of immigration, and the same that support this liberal party are now here accusing landlords as the problem?
Really, the left caused all this.
rent communists??? more like liberal communists.
what's sad and disturbing is how many gullible fools think attacking landlords is a "good idea". It's not. Just like gullible fools want to see "investment go down" so that "more homes will be affordable". Dumb dumb dumb dumb dumb. That's not how it works. The only way to make homes affordable is to build affordable homes. There is no other way.
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Re: Rent communists!

Post by spooker »

The Green Barbarian wrote: Apr 5th, 2024, 8:00 am what's sad and disturbing is how many gullible fools think attacking landlords is a "good idea". It's not. Just like gullible fools want to see "investment go down" so that "more homes will be affordable". Dumb dumb dumb dumb dumb. That's not how it works. The only way to make homes affordable is to build affordable homes. There is no other way.
As a landlord, I don't feel attacked. We're not looking to get out of our properties. I know what we provide for our tenants and I can't trust the next owner to do the same.
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Re: Rent communists!

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The Green Barbarian wrote: Apr 5th, 2024, 8:00 am
liisgo wrote: Apr 4th, 2024, 8:44 pm So the Liberal party of Canada basically caused all this supply and demand issue of housing and rental properties, via uncontrolled and extremely poor management of immigration, and the same that support this liberal party are now here accusing landlords as the problem?
Really, the left caused all this.
rent communists??? more like liberal communists.
what's sad and disturbing is how many gullible fools think attacking landlords is a "good idea". It's not. Just like gullible fools want to see "investment go down" so that "more homes will be affordable". Dumb dumb dumb dumb dumb. That's not how it works. The only way to make homes affordable is to build affordable homes. There is no other way.
We should be able to assume that any capable government would be smart enough to understand the direct link of immigration and supply and demand for housing.
However, clearly the Niberal government of canada had absolutely no ability or understanding of it and forgot to manage it. Now, we have another embarrassing issue facing Canadians.
Landlords have nothing to do with this, the Niberal party owns all this.
"If I find out who's been running this country for the last 8.5 yrs into the ground, there will be hell to pay",,,,,,,,,Prime Minister Justin Trudeau.
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Re: Rent communists!

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The Housing Krises, caused mainly by the Niberals, is just another golden opportunity to throw more cash around in the hopes of vote buying, and will accomplish nothing of any value.

The second golden opportunity is to divest more money from the taxpayers, making us all poorer and tax-tired.

Anything that loses our funds is a win for the Niberals
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Re: Rent communists!

Post by featfan »

https://www.theglobeandmail.com/real-es ... er-tenant/

Wow, learn something new everyday.
Tenant gets charged the taxes a non resident owner didn't pay to CRA.
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Re: Rent communists!

Post by George Orwell 1984 »

The tenant was required to withhold and didn’t.

A Montreal tenant was audited and ordered to pay the tax he had failed to withhold on the monthly rent to his non-resident landlord, as required by law. As a result, he was ordered to pay six years’ worth of tax as well as the compounded interest and penalties. The Canada Revenue Agency (CRA) could not collect against his overseas landlord, so the Canadian tenant was on the hook.
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Re: Rent communists!

Post by featfan »

I just found it so weird.
Wonder if it was a relative that owned it.
Or did he not know ?
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Re: Rent communists!

Post by Catsumi »

Am baffled, totally.

Just who is the rent communist in the above story?

The owner, overseas and not touchable by CRA?

The Govt, that gets it’s pound of flesh from the tenant?

The tenant, because he paid his rent, knowingly or not, to the owner?

This is one mystery that needs Sherlock to untangle
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Re: Rent communists!

Post by GonnaMissThis »

featfan wrote: Apr 14th, 2024, 1:18 pm https://www.theglobeandmail.com/real-es ... er-tenant/

Wow, learn something new everyday.
Tenant gets charged the taxes a non resident owner didn't pay to CRA.
I couldn’t believe this. In the article that I read, even people in the related industry didn’t know about this rule, how would tenants know? Is it in bold print in the landlord/tenancy agreement that the landlord must provide a copy of their immigration status? Can you imagine what would happen to tenants if they withheld 25% of their rent just in case the taxes didn’t get paid? What the heck kind of government policy is this? If you don’t have a way to get taxes from foreign owners, then don’t let them buy property here. Or, give eviction notice to the tenant and sell the property. Otherwise, if the renter is paying taxes they should get a percentage of the property. 10% for every year they pay taxes on.

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