Rentals 2020 and BC Housing

[cb0208]

How is everyone doing for those who rent out there in the Central Kelowna and West Kelowna areas? My rent is going up now that the year is 2020. I have been treated very well for 2 years.

[GordonH]

How is everyone doing for those who rent out there in the Central Kelowna and West Kelowna areas? My rent is going up now that the year is 2020. I have been treated very well for 2 years.

According to this site rent maximum increase are inflation plus 2%.

https://news.gov.bc.ca/releases/2018MAH0117-001724

[Babba_not_Gump]

I rent out a basement suite. For years I only charged $650 and never increased it by the annual allowable amount as a 1 or 2% increase seemed like a chickensh!t way to go.
But my previous tenant left me with a couple of thousand dollars in repairs so for the next tenant the rent was $850. So the new guy is paying for the previous tenant's mess.
So far this guy is working out well after two years so I have no increases planned. Heck, 2% on $850 is $17. No, I'll leave it where it is and continue our good rapport.

[cb0208]

Wow Bb49,

That's is awesome about what you charge for rent. Sorry to hear about the past tenant about the mess he left. I am very happy to be renting from a good landlord, and having in increase isn't too bad the way everything seems so expensive and taxes and such.

[OKkayak]

We're currently renting (Metro Vancouver), we signed a 5 year lease for a 2 bed condo and we stipulated a 0% increase in rent over the lease term.

[t76turbo]

I generally do rent “adjustments” when a new tenant moves in. Lately tho I have very little turnover and will need to do rent increases as my costs keep climbing and I just can’t absorb everything. Nobody likes to have their rent raised. Unfortunately costs are ever climbing and so will rent.

When I do send out rent increase notices I never hit my tenants with max allowance determined by government. Usually it’s $20 to $25 a month given size of unit.

When I hear of gov thinking about rent increases moratorium I do get annoyed and begin thinking of doing annual increases. I get along great with all my tenants and really hate being the guy handing over the notices. Makes me feel like Ebenezer Scrooge.

[Smurf]

When we had our rentals we generally took increases and put the money back into the property. Kept our properties up and made for a nicer place for the renters. We usually tried to accommodate their wishes if they were reasonable. Tried to keep everyone happy.

[alanjh595]

Renters' expectations have changed greatly over the years. They expect so much more today than in the past, and they feel that they are entitled to their demands.
As hard as one may TRY to keep their tenants happy, but they will never be happy, the more a landlord gives, the more tenants will demand. That is why I got out of the rental game a long time ago, I have no regrets for my decision to do so. I would hate to be a landlord today.

[Staredintoabyss]

Renters' expectations have changed greatly over the years. They expect so much more today than in the past, and they feel that they are entitled to their demands.
As hard as one may TRY to keep their tenants happy, but they will never be happy, the more a landlord gives, the more tenants will demand. That is why I got out of the rental game a long time ago, I have no regrets for my decision to do so. I would hate to be a landlord today.

Renters are consumers of a product you are offering.
They are paying you for a product and signing contracts around said product.
They have a right to the minimum legal standards even though many rental units in Kelowna fail to meet those standards. If a landlord does not want to meet those standards they should not be renting their unit, just as any other business has to meet legal standards to be allowed to operate.

I get the objections a lot of landlords have, and yeah I know some tenants are horrible, but you aren't a noble and your renter is not a peasant, it is a business relationship.

[alanjh595]

Renters may be entitled to a working stove, they are NOT ENTITLED to a new, glass top, range. Same for a fridge. There is no washer/dryer/dishwasher required as a minimum, but that doesn't stop them from complaining about the landlord not supplying them.
If the renter doesn't get what he wants, he will call us slumlords or destroy our property in retaliation.

[W105]

*removed*

here's a tip...the Landlord creates the Rental Agreement..if the Landlord does put down a washer/dryer , window coverings etc then they must honor the agreement that they created and are being paid for...

*removed*

[alanjh595]

*removed*

here's a tip...the Landlord creates the Rental Agreement..if the Landlord does put down a washer/dryer , window coverings etc then they must honor the agreement that they created and are being paid for...

*removed*

I have NEVER seen "window coverings" in any rental agreement, a window covering could be an old bed sheet, problem solved.
Washer and dryer? Does it state in the rental agreement that it has to be a "top-of-the-line", latest model? NO, it could be one that was picked up at a garage sale, also there is no agreement that they have to work to the level of the renter's desires.

Here's a tip.....the renter agreed to the terms and conditions of the rental agreement that they signed. The renter had all the power and choice as to either accept or decline before signing on the dotted line.

Same holds true when buying, a used car, house, or wife. Sometimes it works out great, other times you just get someone else's old lemon.

[W105]

well my son has window coverings in his rental agreement in his apartment...they are the nice white expensive wooden blinds...friends we know that have rental condos also supply the window coverings since many strata's have rules about what type of window coverings you can have...

most smart Landlords won't put in garbage appliances because ultimately they are the ones who will have to keep replacing them when they burn out..and you can't charge a Tenant for a dead major appliance that's written into the rental agreement..

give kudos to the good Landlords in this thread that are or did ok in the business..

[alanjh595]

well my son has window coverings in his rental agreement in his apartment...they are the nice white expensive wooden blinds...friends we know that have rental condos also supply the window coverings since many strata's have rules about what type of window coverings you can have...

most smart Landlords won't put in garbage appliances because ultimately they are the ones who will have to keep replacing them when they burn out..and you can't charge a Tenant for a dead major appliance that's written into the rental agreement..

give kudos to the good Landlords in this thread that are or did ok in the business..

Putting "window coverings" in the lease means that the renter is responsible for any damage and extensive cleaning upon move out. The land lord didn't put them in for his renters, he bought the place with them already in, and would be more than happy to back-charge the tenant for cleaning.
Ever have wood blinds, I do, they are a real pain to clean. the landlord could charge easy $100/blind for cleaning. That's $800 of the deposit after move out. Even though it was his MIL that came in and cleaned them.

"Good" landlords make money on their investment. "Bad" landlords, drop their pants and grasp their ankles for the tenant.

[alanjh595]

The rental agreement might say washer, dryer, dishwasher and stove. It doesn't stipulate what colour they are or if they have to match.