Housing Crunch

[Even Steven]

It would probably never shut down completely, but the over-regulation does negatively affect the supply. As evident.

Abso-fruitly. No, landlords will never disappear. But even if their number comes down by 10% it will put huge pressure on rental availability - and guess what - rental rates. What happens when there's a high demand but low supply? Prices go up thus making housing even less accessible.

The solution to the housing crunch isn't trying to regulate the prices. It's opening the tap wide open and letting more rental units onto the market. Make it more appealing, less restrictive, more profitable due to fewer regulations - and people will put more rentals online. Only then the prices will slow down - not when the gov't goes after the evil landlords and forces them into keeping the rental rates down.

[alanjh595]

Exactly, instead of the government placing restrictions on landlords/homeowners, they should be making it easier for them, the market will correct itself by demand and supply.
Landowners can self regulate based upon changing market conditions much faster than government intervention and control can.
That gives the renters more control about what they are willing to pay, and the landlords can either adapt or die.

[Mike Br.]

But even if their number comes down by 10% it will put huge pressure on rental availability - and guess what - rental rates.

I would add, 10% would be cataclysmic. Every fraction of a percent hurts a lot.

[John Crawford]

https://globalnews.ca/video/5661496/oka ... out-renter

this is why you have an housing crunch, and it will continue, whilst you have the RCMP and the RTB doing NOTHING

THE LIST OF LANDLORDS THAT THIS PERSON HAS STOLEN FROM CONTINUES TO GROW. THERE ARE NOW SEVEN (7) CONFIRMED LANDLORDS THAT HAVE HAD DISASTROUS DEALINGS WITH THIS MAN. WITH NO ACTION WHATS SO EVER FROM THE RCMP. AND ONLY OUTDATED BUREAUCRATIC PROCEDURES FROM THE RTB.

Here is a person we do not need in Kelowna, or the Okanagan, he has been scamming people in Vernon, Kelowna and West Kelowna. He is an artist of the first degree, at manipulating the system to his advantage and taking advantage of people, he has something like ten civil cases against him and 25 Criminal (source BC Courts) this is the same person who conned people in the bottle drive some years ago, he had the audacity to start a go fund me page (since removed) asking for money stating he had been ripped off by a landlord, he claimed that his son had died, that was why he could not pay his rent, this is the same son he threw out two years ago and thankfully living with his mother., the Face Book page Kelowna Scammers and thieves is been inundated with comments from people who have had dealing with him.

[John Crawford]

These would decrease risk on landlords, but how would it increase supply?

Supply would increase with less interference from beauracrates, see "Okanagan landlords speak out about renter"
why would anyone want to rent when you have people like *name removed*, abusing the system, his record is public knowledge, just search his name in court records and the internet, we know of 7 landlords who have sold their units due to this man, one unit cost the owner 100K to put right and was sold to offset the debt.

[John Crawford]

Would not adding a clause to the lease, that disallowed subletting, change in co-tenants, or visitors staying more than 3 nights given you the right to evict based upon breech of the contract?
If you allowed the contract to be changed, even by verbal agreement, you have nothing to stand on.

if you use the RTB, RTA which I recommend, there is provision to add an addendum page to the lease agreement (RTA), how many addendums is upi to you, all of my included no AirBnB, no room mates, unless named on lease, the list goes on.

[John Crawford]

1) Remove all rent controls. As evident in Alberta (no rent controls), the market is doing just fine. Rent controls are actually counter productive, as they give landlords a "command" to hike rents, no matter if needed, or not. Also, this would eliminate "renovictions".

2) Mandatory tenant's liability insurance. Talk with insurance providers and come up with a universal tenant's liability insurance, say $200k, against excessive damages and revenue losses caused by tenants. Premiums could start with something symbolic, then prorated based on the amount of claims. Just like car insurance.

3) Streamline disputes/evictions. There should be no need for endless hearings and wait times. It should be on a first come, first serve basis, all within a couple of hours. Just like when you go to a walk-in clinic.

4) Set up and maintain a database of delinquent tenants and landlords, publically accessible.

Any other suggestions?

could not agree more on all of these points, dealing with an habitual Liar and Thief at the moment who has stolen from seven landlords, it wasn't until a landlord, got tired of his lies, (informed her his son had died, that's why the rent was late), that rightly or wrongly she locked him out, and after locking him out seven other landlord, eventually came forward. and that brings us to Streamlining the system, he has worked the system since 2006 and knows it inside and out and uses it to his advantage with the assistance of the RTB, they know of the man, however, you are stilled required to jump through their archaic, bureaucratic, rules just to obtain access to your own property.

[burnedatstake]

removed

[Silverstarqueen]

On the other hand, as long as regulations make it less and less apealing for landlords, more will just put their homes on the market rather than rent out, this will ease housing prices. More people can then buy a home instead of being stuck in rental trap forever. I don't think there is really a shortage of homes, there is a shortage of affordability. Prices having been inflating for years, they need to come down.

[AlienSoldier]

On the other hand, as long as regulations make it less and less appealing for landlords, more will just put their homes on the market rather than rent out, this will ease housing prices. More people can then buy a home instead of being stuck in rental trap forever. I don't think there is really a shortage of homes, there is a shortage of affordability. Prices having been inflating for years, they need to come down.

As prices fall, more people enter the market as you stated, but that in turn keeps the prices high. Until interest rates increase, or their is further restrictions on mortgages the price will not decrease considerably. Or, you have wages increase much quicker.

Already we have 37% of the population severely in debt, I don't think buying more housing is the issue. Its people needing to get comfortable with renting as long term solution and building wealth, through savings.

[Silverstarqueen]

A couple could easily spend close to $2000 a month renting, That's $24,000 a year, after 20 years $480,000. With a mortgage, they would have spent close to the same, but at least have a home at the end of 20 years, no more monthly payments. It is an investment, savings vehicle.

[Glacier]

A couple could easily spend close to $2000 a month renting, That's $24,000 a year, after 20 years $480,000. With a mortgage, they would have spent close to the same, but at least have a home at the end of 20 years, no more monthly payments. It is an investment, savings vehicle.

It's impossible to save for a down payment when you're paying $2000/month in rent.

[Mike Br.]

It's impossible to save for a down payment when you're paying $2000/month in rent.

A couple making $40k each would be able to save at least $500 a month, easily. Providing, they cut on drugs, booze, cigarettes, and such. So, it is NOT impossible.

[alanjh595]

The problem lies within the attitudes of this generation. They want to be able to buy the home of their dreams without giving up any of the lifestyle that they have become accustomed to.
The peer pressures that they face today and their desires to keep up with the Jones, are huge, especially when they all are squeezed so close together and are subjected to constant oversight by their friends.
Just look at the number of cars they drive and their current age.
It must suck to be a young person in this day and age in an area like Kelowna.

[Sparki55]

The problem lies within the attitudes of this generation. They want to be able to buy the home of their dreams without giving up any of the lifestyle that they have become accustomed to.
The peer pressures that they face today and their desires to keep up with the Jones, are huge, especially when they all are squeezed so close together and are subjected to constant oversight by their friends.
Just look at the number of cars they drive and their current age.
It must suck to be a young person in this day and age in an area like Kelowna.

You're 100% wrong lol.