Rent Bank

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BC Landlord
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Re: Rent Bank

Post by BC Landlord »

Bsuds wrote:It is sometimes really difficult to catch the true intent of some posts which is why I try to use an emoticon when being sarcastic. :smt045
You might be right. In real life, a person's face expression speaks volumes. Emoticons mimic that.
BC Landlord
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Re: Rent Bank

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Here is the latest stats on Canadian rent prices. Before dismissing Rent Banks as a bad idea, please note that this year Kelowna for the first time has made top five cities in Canada. There are a lot of people in need of such help out there.

https://blog.padmapper.com/canadian-rent-trends
Vacancyrate
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Re: Rent Bank

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BC Landlord wrote:Here is the latest stats on Canadian rent prices. Before dismissing Rent Banks as a bad idea, please note that this year Kelowna for the first time has made top five cities in Canada. There are a lot of people in need of such help out there.

https://blog.padmapper.com/canadian-rent-trends
Hey everyone look at the landlord begging for a welfare cheque.

He has to charge more than people can afford and he knows it - so time to hit up the taxpayer to make his business profitable.
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alanjh595
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Re: Rent Bank

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Overall, 9 cities experienced a downward monthly rent price change, 12 upward, and 3 remained flat.

Vancouver overtakes Toronto as the most expensive city

While Toronto one-bedroom rent dropped 5% to $1,900 last month, Vancouver one-bedroom rent slightly dipped 1.5% to $1,950, crowning Vancouver as the new priciest city in Canada.
Top 5 Most Expensive Markets

1. Vancouver, BC moved up a spot to become the most expensive city in the nation with one-bedroom rent priced at $1,950. On a year-over-year basis, both one and two-bedroom rents are down over 11%.

2. Toronto, ON was dethroned as the priciest market with one-bedroom rent falling 5% to $1,900. Notably, one-bedroom rent in this city has fallen over 17% since this time last year.

3. Burnaby, BC continued to rank as 3rd though one-bedroom rent dropped 2.9% to $1,670.

4. Victoria, BC was the 4th priciest market with one-bedroom rent decreasing 1.2% to$1,630.

5. Kelowna, BC jumped up one position to become the 5th most expensive with one-bedroom rent climbing 4.1% to $1,510. On a year-over-year basis, one-bedroom rent is up nearly 12%.
Therefore, the top 4 dropped and 5th place moved up from 6. Kelowna rent is still cheaper than the other 4.

BIG DEAL.
Bring back the LIKE button.
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bb49
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Re: Rent Bank

Post by bb49 »

Vacancyrate wrote:
BC Landlord wrote:Here is the latest stats on Canadian rent prices. Before dismissing Rent Banks as a bad idea, please note that this year Kelowna for the first time has made top five cities in Canada. There are a lot of people in need of such help out there.

https://blog.padmapper.com/canadian-rent-trends
Hey everyone look at the landlord begging for a welfare cheque.

He has to charge more than people can afford and he knows it - so time to hit up the taxpayer to make his business profitable.
*removed*
A landlord charges what the market will bear.
They only charge what SOME people can afford.
They only need ONE person to knock on their door saying I'll pay that rent.
Who cares about all the others?
Those that can't or won't pay his rate are irrelevant.

*removed*
Last edited by ferri on Dec 19th, 2020, 3:58 pm, edited 1 time in total.
Reason: Don't make this personal please.
I_am_a_Canadian
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

Vacancyrate wrote:Hey everyone look at the landlord begging for a welfare cheque.

He has to charge more than people can afford and he knows it - so time to hit up the taxpayer to make his business profitable.
I don't think any landlord is in a position to "beg" for rents due. It's usually the "one-two-three" rule, and delinquent tenants are out. Nobody wants that. You also have to understand that most small landlords run their business on razor-thin margins already. Overheads are huge. Many cannot afford a rent being late. They have their own families and retirement plans.

However, I don't see how this Rent Bank idea is about landlords, as much as it is about helping some tenants keep a roof over their heads. It needs some refinements, but I think generally it's a very good idea.
Last edited by BC Landlord on Dec 19th, 2020, 9:26 pm, edited 2 times in total.
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

alanjh595 wrote:Therefore, the top 4 dropped and 5th place moved up from 6. Kelowna rent is still cheaper than the other 4.
BIG DEAL.
Making the top five nationwide is a quite a big deal under any circumstance. Remember, we are not talking here about high-paying jobs, but rents $$.
Last edited by BC Landlord on Dec 19th, 2020, 9:27 pm, edited 1 time in total.
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alanjh595
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Re: Rent Bank

Post by alanjh595 »

It's also the top 5 BEST places in Canada to live.
Bring back the LIKE button.
BC Landlord
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Re: Rent Bank

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alanjh595 wrote:It's also the top 5 BEST places in Canada to live.
Probably right, ... but if you can't make a rent payment on time, beaches and sunshine don't help. Rent Bank would.
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

Let's be honest, .. Other than packing up and leaving, what option is currently available for tenants who for whatever reason can't make it on the rent? Perhaps, loan shark places? How is that better than interest-free Rent Bank loans, as proposed?
Vacancyrate
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Re: Rent Bank

Post by Vacancyrate »

Pretty amazing to read the pro real estate crowd who revel in humiliating renters that they're wasting their money, that are now trying to steer renters towards longterm debt without ownership to pay rent.

I can't imagine the levels of insults and bragging on this forum should renters get into longterm debt to pay rents.



Pretty hard to save up for a down payment when you're going into long-term debt to pay your rent!

Rent banks ensure the creation of a permanent economic under class of people in Canada.

Eliminate all landlords. Leeches on society.
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

Vacancyrate wrote:Pretty hard to save up for a down payment when you're going into long-term debt to pay your rent!

Rent banks ensure the creation of a permanent economic under class of people in Canada.

Eliminate all landlords. Leeches on society.
Vacancy, no one is proposing "long-term" loans. From what I read, it is for people who and if they slip out on a rent or two, but for no longer than 24 months repayment term. That's not a long-term, mortgage-like thing. And it's interest free. There is no such thing as a conspiracy to "enslave tenants" whatsoever. Not sure where you are getting that from.
Both landlords and tenants need each other. I have no ideas how would an "elimination" (whatever that means) of one work for the other.
Boosted632
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Re: Rent Bank

Post by Boosted632 »

Vacancyrate wrote:Pretty amazing to read the pro real estate crowd who revel in humiliating renters that they're wasting their money, that are now trying to steer renters towards longterm debt without ownership to pay rent.

I can't imagine the levels of insults and bragging on this forum should renters get into longterm debt to pay rents.



Pretty hard to save up for a down payment when you're going into long-term debt to pay your rent!

Rent banks ensure the creation of a permanent economic under class of people in Canada.

Eliminate all landlords. Leeches on society.
All the more reason to pack up and go some where more affordable i certainly wouldn't stay here if it was a constant struggle.
I wouldn't Have to manage my anger if people could learn to manage their STUPIDITY
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JLives
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Re: Rent Bank

Post by JLives »

BC Landlord wrote:
Vacancy, no one is proposing "long-term" loans. From what I read, it is for people who and if they slip out on a rent or two, but for no longer than 24 months repayment term. That's not a long-term, mortgage-like thing. And it's interest free. There is no such thing as a conspiracy to "enslave tenants" whatsoever. Not sure where you are getting that from.
Both landlords and tenants need each other. I have no ideas how would an "elimination" (whatever that means) of one work for the other.
It creates a cycle of never being able to catch up on that loan. The very idea of it is horrible. We can do better than this. This shouldn't even be an idea let alone one taken seriously.
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Vacancyrate
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Re: Rent Bank

Post by Vacancyrate »

BC Landlord wrote: Vacancy, no one is proposing "long-term" loans.
Yet.

If real estate values continue to rise the "payday loan" rent bank turns into a permanent poverty cycle and the loans get longer and larger.

And everyone gets "interest free" loans moreless. Money is as cheap as it's ever been. It's not some gracious gift to offer no interest on a couple thousand dollar loan. You'd have to be some kind of evil to think that the act of *allowing* a renter to not have to go to a loanshark is a good thing. Do these people also feel good about themselves that they don't push old ladies into the ditch when they pass them, and instead, allow them to pass without harm? How gracious of you!

There is a system problem right now in Canada with real wages and hyperinflated asset prices (houses).

Offering credit cards to people to pay their rent is insanity.

The real problem must be addressed.

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