Rent Bank

Social, economic and environmental issues in our ever-changing world.
Even Steven
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Re: Rent Bank

Post by Even Steven »

Vacancyrate wrote: Ah yes, only college grads deserve not to be homeless!
Wouldn't know, I never went to college and I think I turned out ok.
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JLives
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Re: Rent Bank

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BC Landlord wrote:
Homelessness is just a consequence of some bad choices in life. And that rarely includes college grads, because they can usually tell right from wrong. Rent Bank is for those in between.
Just? That's a severe trivialization of lives. People matter. Homes are important. Community is important. Contribute, don't leach.
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BC Landlord
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Re: Rent Bank

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JLives wrote: Just? That's a severe trivialization of lives. People matter. Homes are important. Community is important. Contribute, don't leach.
Homes are important, indeed. Actually, one of the most important things in everyone's life. This is what Rent Bank idea is all about, .. helping those in need. The "trivialization" comes from those seeing it as some sort of tenants entrapment tool. This can't be further from the truth.

I asked this question several times, and I'll ask it again, .... If you were a tenant who can't come up with a rent or two, especially in circumstances like Covid, would you prefer an interest-free loan to get you over the thing, or get evicted?
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JLives
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Re: Rent Bank

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BC Landlord wrote:
Homes are important, indeed. Actually, one of the most important things in everyone's life. This is what Rent Bank idea is all about, .. helping those in need. The "trivialization" comes from those seeing it as some sort of tenants entrapment tool. This can't be further from the truth.

I asked this question several times, and I'll ask it again, .... If you were a tenant who can't come up with a rent or two, especially in circumstances like Covid, would you prefer an interest-free loan to get you over the thing, or get evicted?
Stop living outside your means. If you can't afford your mortgage slow down on the avocado toast. Get a better job. Go to school and improve your skills.
"Every dollar you spend is a vote for what you believe in."
"My country is the world, and my religion is to do good."
Boosted632
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Re: Rent Bank

Post by Boosted632 »

JLives wrote:
BC Landlord wrote:
Homes are important, indeed. Actually, one of the most important things in everyone's life. This is what Rent Bank idea is all about, .. helping those in need. The "trivialization" comes from those seeing it as some sort of tenants entrapment tool. This can't be further from the truth.

I asked this question several times, and I'll ask it again, .... If you were a tenant who can't come up with a rent or two, especially in circumstances like Covid, would you prefer an interest-free loan to get you over the thing, or get evicted?
Stop living outside your means. If you can't afford your mortgage slow down on the avocado toast. Get a better job. Go to school and improve your skills.
Thats funny i give renters that same advice when they're crying about rent
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

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Boosted632 wrote: Thats funny i give renters that same advice when they're crying about rent
Well why should landlords feel they are exempt from that? It's entitlement.
"Every dollar you spend is a vote for what you believe in."
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Re: Rent Bank

Post by BC Landlord »

JLives wrote:Stop living outside your means. If you can't afford your mortgage slow down on the avocado toast. Get a better job. Go to school and improve your skills.
I wholeheartedly agree with this. :up:
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Re: Rent Bank

Post by BC Landlord »

Vacancyrate wrote:No welfare for the asset class. No rent banks.
Not sure what you mean by "the asset class"? Home owners, perhaps? You sound like it's a bad thing. :135:
BC Landlord
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Re: Rent Bank

Post by BC Landlord »

JLives wrote:Well why should landlords feel they are exempt from that? It's entitlement.
Who said they are feeling exempt? You see, if they default on mortgages, they get hit with foreclosures. Similarly, if tenants default on rent, they get evicted. Everyone should bear responsibility for their (in)actions. Rent bank is actually beneficial for the later. Whose "entitlement" is that?
Vacancyrate
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Re: Rent Bank

Post by Vacancyrate »

Boosted632 wrote: Thats funny i give renters that same advice when they're crying about rent
Your over leveraged costs are not their problem. That's your problem.

Rent is tied to wages worked by workers. Always has been. Any landlord knows the rents they charge are tied to the wages worked in the city they reside in. You're either a clueless landlord of playing dumb if this is "news" to you. If your costs exceed what working people can pay then the business model is shot.

If McDonald's got over their head and had to charge 20 dollars for a Big Mac would you expect the Government to come in and provide 15 dollars in tax-dollar charity to customers so that the world wouldn't be deprived of Big Mac's and MCDoanlds could stay in business? That would be a Big-Mac bank.

If landlords are hiding behind the "charity" and "society NEEDS US" line of BS then landlords can cough up their books like a non profit getting audited and the Government will provide a rent bank to renters so long as the landlords don't turn a profit and operate like a charity.

Without landlords, landlords suggest that there would be millions on the street homeless and hundreds of thousands of empty buildings without occupants! I say call their bluff. Let's see it happen. Landlords are vastly outnumbered numerically and politically. Go right ahead. Sell off all your rentals. Get real jobs. We'll figure it out without you.

If that can't be done it's time to cut landlords right out of the game just like we cut medical insurance companies right out of the game.

Anyone that wants a house can start paying into a "Canadian mortgage program" and the Government will kick in your down-payment. CHMC holds the bag on most of the mortgages in Canada anyways, which means that taxpayers does. Just because the mortgage is at The Royal Bank doesn't mean the bank holds any risk - Canadians hold the risk! Might as well just make it easy for people to stop paying crazy rents so they can save money and buy things in the economy and go to school and start businesses.

Just like realtors (they will be replaced with a phone app), landlords know their days are numbered. Leeching productivity and wealth like a parasite while producing nothing.

You can't charge rents higher than wages.

When land prices rise 3 times as fast as wages...you all knew this was coming but ignored it. Those gains were so juicy!

Now landlords want welfare to keep their ponzi going.
Even Steven
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Re: Rent Bank

Post by Even Steven »

Vacancyrate wrote:Just like realtors (they will be replaced with a phone app), landlords know their days are numbered. Leeching productivity and wealth like a parasite while producing nothing.
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Re: Rent Bank

Post by BC Landlord »

Vacancyrate wrote:Rent is tied to wages worked by workers. Always has been. Any landlord knows the rents they charge are tied to the wages worked in the city they reside in. You're either a clueless landlord of playing dumb if this is "news" to you. If your costs exceed what working people can pay then the business model is shot.
Hmmm, ... Rents have never been "tied" to wages, not that I know of. True, many jurisdictions have rent controls (some don't), but that's usually driven by the inflation rate, as it is currently a case in BC. You are absolutely correct that if landlord's overheads exceed revenues, such business is shot. I just don't understand how do you expect such a property to be still available for rent?
If landlords are hiding behind the "charity" and "society NEEDS US" line of BS then landlords can cough up their books like a non profit getting audited and the Government will provide a rent bank to renters so long as the landlords don't turn a profit and operate like a charity.
I am not sure how many times have I repeated that landlords are NOT charities. They (myself included) do it for profit. And it's a hard work, trust me. Especially when you have to put up with characters who think that the whole world owes them something or everything. Not fun always, but if there is a mutual understanding, it could be rewarding.
Without landlords, landlords suggest that there would be millions on the street homeless and hundreds of thousands of empty buildings without occupants! I say call their bluff. Let's see it happen. Landlords are vastly outnumbered numerically and politically. Go right ahead. Sell off all your rentals. Get real jobs. We'll figure it out without you.
Seriously, who do you expect to rent from if all landlords were gone? About 95% of the rental stock is in private hands. Wherever you have governments running housing, it inevitably turns into slums. Do you really want that?
Anyone that wants a house can start paying into a "Canadian mortgage program" and the Government will kick in your down-payment.
I can only imagine where such an utopia is coming from. But, just for the sake of curiosity, could you please elaborate on how exactly are you envisioning this to work? Is this something you've come up with yourself, or is there a viable theory (a link would be helpful)? I've never heard of the "Canadian mortgage program" ...
Just like realtors (they will be replaced with a phone app), landlords know their days are numbered. Leeching productivity and wealth like a parasite while producing nothing.
An app??? I've never heard of an app that would fix your leaking faucet, for example. I know, some tenants don't like periodic inspections, thinking that it is somehow intrusion on their privacy. But from my experience, if landlords don't stay on the top of the game, they are often bound for costly disasters. Is there an app for that, too?
Vacancyrate
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Re: Rent Bank

Post by Vacancyrate »

BC Landlord wrote: Hmmm, ... Rents have never been "tied" to wages, not that I know of.
This poster says they are a Landlord but I question that given their statement. The poster may just be terrible at business or playing dumb and this is the internet after all, but that is the golden rule of being a landlord.

Rule #1 when considering being a landlord/looking at a rental business is "Consider the income of the people that will rent your property and the area in which it is located". The biggest problem landlords face is getting rent on time. Not damage, not partying but collecting rent. If you charge too high of rent you aggravate that late payment factor. When determining rents you need to look at your costs and balance that with what your tenants can actually pay - on time. Who your tenants will be. You can charge $2500 a month for a one bedroom in Penticton but you're either going to be renting to a drug dealer or getting late rent more often than not. The rent doesn't match the local incomes!

Rent costs are now exceeding what renters can pay with their wages.

Before 1982 in Canada there was no such thing as a "food bank" in Canada. Rents went up and wages didn't and over the last 30 years a large portion of the grocery bill went into the landlords pocket so they invented food banks to make up the difference. They said it was just a one time thing during hard times. They are now a permanent fixture of our "prosperous society".

Well it's gotten worse and now the tenant who is going to the FOOD BANK will also be going to the RENT BANK, which will also become a permanent fixture unless something is done.

The food bank is welfare for landlords. So is the rent bank.

Landlords are leeches on society.
Boosted632
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Re: Rent Bank

Post by Boosted632 »

Kinda sounds like renters are the leaches with the taxpayer subsidizing their food and now their rent whats next?
I wouldn't Have to manage my anger if people could learn to manage their STUPIDITY
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MAPearce
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Re: Rent Bank

Post by MAPearce »

Wouldn't know, I never went to college and I think I turned out ok.
Same here .....

I'm so busy at work , I haven't had the time to apply for all the Covid benefits..

I must have done something right , huh ?
I payed attention in High school....But I didn't need too .

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