Rent Bank

Social, economic and environmental issues in our ever-changing world.
User avatar
JLives
Buddha of the Board
Posts: 18620
Joined: Nov 27th, 2004, 10:53 am

Re: Rent Bank

Post by JLives »

BC Landlord wrote: And, what exactly is "sustainable profit"? I've never heard of such thing. But for all I know, it can't be something good for me, because every time I hear that "sustainable" shtick, I have to hold tight onto my wallet.
That's for individual landlords to decide at this point. We can't keep overextending people who just need homes when the wages aren't keeping up. What kind of community do you want to be part of?
"Every dollar you spend is a vote for what you believe in."
"My country is the world, and my religion is to do good."
User avatar
OKkayak
Walks on Forum Water
Posts: 14241
Joined: May 14th, 2018, 11:10 pm

Re: Rent Bank

Post by OKkayak »

BC Landlord wrote:$15/hr is a minimum wage. It's never been that this alone could support a living.
Sure it has, back when minimum wage was $5/hr, my rent was $320/month for a 1 bedroom up on Alexis Park.

There used to be a time when housing was exactly that, housing and after 25 plus years, when you paid your mortgage off, you made some money off it as a long term investment. Now, it's nothing more than a business like any other business, make as big of a profit as you can in the shortest time as possible.
User avatar
normaM
Admiral HMS Castanet
Posts: 28273
Joined: Sep 18th, 2007, 7:28 am

Re: Rent Bank

Post by normaM »

KNow what else would help Renters? People being taught how to be financially responsible. Learning about budgeting, cost saving measures, etc
Don't need a $150 a month cel phone plan when you can get a landline dirt cheap.. and yea yea, I know cells are now a vital part of daily existence, the Carriers are delighted about that.
47 Ads on Cnet, shared and room mates, mainly 750 a month
I know people who share a house ( 4 pay for the rent) Nice places, tons of room, all expenses shared
We need to give people the tools to learn to live within their means, even if that is unpleasant.
You can try and dirty my name, but I'll wear your hate like war paint
Even Steven
Guru
Posts: 5959
Joined: Mar 24th, 2015, 7:20 pm

Re: Rent Bank

Post by Even Steven »

JLives wrote:That's for individual landlords to decide at this point. We can't keep overextending people who just need homes when the wages aren't keeping up.
Let's say I figure out (somehow, perhaps by asking very personal and inappropriate questions about people's financial wellbeing) that tenant #1 can afford quite a bit, and tenant #2 can't. So, here I am choosing the first that can pay me normal rental rates if I have a choice. Everybody wins!

It's not really helping the second one, does it?
BC Landlord
Übergod
Posts: 1879
Joined: Jul 15th, 2019, 2:18 pm

Re: Rent Bank

Post by BC Landlord »

OKkayak wrote:There used to be a time when housing was exactly that, housing and after 25 plus years, when you paid your mortgage off, you made some money off it as a long term investment. Now, it's nothing more than a business like any other business, make as big of a profit as you can in the shortest time as possible.
I agree Kayak, but there is also another side of the story. Rental places have always been a business, small or large. In the same retrospect, back then a single rental property could make a small landlord a decent buck, and 2-3 would make you a living. Nowadays, the same small landlord would be happy if he breaks even at the end of the year, hoping that his property would appreciate enough some time down the road, which is an uncertainty itself.
And yet, they call landlords "greedy" or "mean" for not willing or being able to further lower rents to someone's liking. It's not landlords who created social problems, it's governments. And now they call on landlords to fix them, and that with their own money.

added:
Speaking of governments, I think this (rent banks) is at least a step in the right direction, and I'm pleasantly surprised. Providing, of course, that there are some checks and balances preventing people from abusing this. Here, I am skeptical.
BC Landlord
Übergod
Posts: 1879
Joined: Jul 15th, 2019, 2:18 pm

Re: Rent Bank

Post by BC Landlord »

JLives wrote:
BC Landlord wrote: And, what exactly is "sustainable profit"? I've never heard of such thing. But for all I know, it can't be something good for me, because every time I hear that "sustainable" shtick, I have to hold tight onto my wallet.
That's for individual landlords to decide at this point. We can't keep overextending people who just need homes when the wages aren't keeping up. What kind of community do you want to be part of?
Oh, ... I missed this one. So, at which point it won't be for landlords to decide any longer? Is it when "comrades" start running the show? Is that a community anyone (other than a few misguided kids) would like to be part of?
Vacancyrate
Banned
Posts: 3581
Joined: Mar 15th, 2018, 1:42 pm

Re: Rent Bank

Post by Vacancyrate »

BC Landlord wrote:$15/hr is a minimum wage. It's never been that this alone could support a living.
Minimum wage was 8/hour late 90's and you could rent a 4 bedroom house anywhere in the interior of BC for under 1000 a month. $750/850 was the normal price to rent a HOUSE with a yard, double garage etc.

My rent in 1998 was 175 dollars a month splitting a 4 bedroom home(luxury home, sauna, Jacuzzi) with 2 other people.

My one bedroom apartment in 1997 cost 450/month (utilities included) in 1997.

Minimum wage was paying about 1500/month around that time.
User avatar
bb49
Lord of the Board
Posts: 4185
Joined: Jul 16th, 2019, 2:38 pm

Re: Rent Bank

Post by bb49 »

JLives wrote:
BC Landlord wrote: I’m still not getting your point. Every rental place is priced to what the market can bear. Don’t blame landlords for that. There are many factors in that equation. But you can‘t just come with a magic wand, and voila ... let rents go down! Doesn’t work that way.
Sure you can. As long as costs are covered, you just charge less for rent while maintaining a sustainable profit. Market, schmarket.
I have a basement suite in my house, $950/ mo. Why on earth should I charge a lower price then what the market will bear just to satisfy someone's bizarre thoughts?
Tell me this, would you charge substantially less then the market simply because your costs are covered?
NO BEIJING 2022

THE TWO MICHAELS. Never forget them.

CHINA. Never forgive them.
Even Steven
Guru
Posts: 5959
Joined: Mar 24th, 2015, 7:20 pm

Re: Rent Bank

Post by Even Steven »

Let's flip the issue and look at wages.

Should we also pay wages based on someone's needs? Like, if somebody broke pay him more, but if somebody is well off - pay them peanuts?

Sounds dumb.
User avatar
JLives
Buddha of the Board
Posts: 18620
Joined: Nov 27th, 2004, 10:53 am

Re: Rent Bank

Post by JLives »

bb49 wrote: Tell me this, would you charge substantially less then the market simply because your costs are covered?
Not only would I, I do. :smt045
"Every dollar you spend is a vote for what you believe in."
"My country is the world, and my religion is to do good."
User avatar
normaM
Admiral HMS Castanet
Posts: 28273
Joined: Sep 18th, 2007, 7:28 am

Re: Rent Bank

Post by normaM »

Is it a legal suite?
You can try and dirty my name, but I'll wear your hate like war paint
User avatar
JLives
Buddha of the Board
Posts: 18620
Joined: Nov 27th, 2004, 10:53 am

Re: Rent Bank

Post by JLives »

normaM wrote:Is it a legal suite?
PMd. I'm not going to post anything too personal on main board.
"Every dollar you spend is a vote for what you believe in."
"My country is the world, and my religion is to do good."
User avatar
normaM
Admiral HMS Castanet
Posts: 28273
Joined: Sep 18th, 2007, 7:28 am

Re: Rent Bank

Post by normaM »

Either legal or not. You took the cause on so prolly should say which it is to keep creed
You can try and dirty my name, but I'll wear your hate like war paint
User avatar
JLives
Buddha of the Board
Posts: 18620
Joined: Nov 27th, 2004, 10:53 am

Re: Rent Bank

Post by JLives »

Legal.
"Every dollar you spend is a vote for what you believe in."
"My country is the world, and my religion is to do good."
User avatar
bb49
Lord of the Board
Posts: 4185
Joined: Jul 16th, 2019, 2:38 pm

Re: Rent Bank

Post by bb49 »

normaM wrote:Is it a legal suite?
As far as the CRA is concerned, yes, mine is legal.
As for that other one, [icon_lol2.gif]
NO BEIJING 2022

THE TWO MICHAELS. Never forget them.

CHINA. Never forgive them.

Return to “Social Concerns”