The fundamentals are skewed profoundly in favour of renters. But ownership has the advantage of stability, and, thus, despite the financial disadvantages, still lures many. Patience and inconvenience will be rewarded. -vreaa
BCite at vancouvercondo.info 4 July 2010 1:14 pm – “I’m so discouraged with renting at the moment and I certainly don’t want to buy right now. I do wish this bust would hurry up and happen already. Can anyone else out there identify?”
scoop at vancouvercondo.info 4 July 2010 4:02 pm – “I can identify. Recently received notice requiring us to vacate our current rental home. For a single person, moving from one generic one br condo to another may be no big deal. But moving with young kids is not my idea of fun. Neither is trying to find a decent 3-4 br family-friendly rental house in Vancouver. There’s just a lot of crap out there. Sometimes I wonder, should we just bite the bullet and buy a place, even though the prices make me sick? I’m definitely on the fence at times.”
On the flip side of the coin, the people who lived next to me in my childhood (with children my age) rented their house for over 15 years before the ended up buying it around 2002.
I dont know their financial situation but I assume buying didnt make sense at the time so they continued to rent. They were great tenants so the only reason they would be forced to leave is if the landlord decided to sell. (which eventually happened, and they bought it).
I had no idea they rented the place and their lives seemed the same as ours.
Just goes to show that renting can last for more than 3 years.
I didn’t think a landlord could force you out???
We have rented for 3.5 years and our landlord just decided to sell. Same story -we have two kids and a dog plus we’ve done some work to the place (mainly cosmetic – and put in a veggie garden). I feel like I have let my children down – they have friends in this community, they are attending school and preschool nearby. Now we are unsure of what to do – wait to see if the new owners want tenants? Wait to move until the house sells? Give notice and move now? There are not many full house rentals in our price range in this neighbourhood. I saw one rant posted on Craigslist by this crazy landlord who wants only, “fanatically clean” tenants (in all caps no less). You certainly aren’t the master of your own domain if you are a renter.
What is the lease situation? If you are in a lease the new owner has no choice but to either buy you out of your lease (2 months rent + moving expenses I believe) or let it run its course. The lease continues even if the house changes hands.
i can understand some of these people finding a hard time to get good places. i have friends that live in the worse apartments /suites because they have no choice…qualifications not strong enough etc.
sometimes it’s who u know that helps too. sometiems u can get a place because u know the landlord and at a discount too.
What qualifications? You arent applying to be a pilot.
I got the place I rent now with no references (lived at home before) other than my boss at work.
All I had to do was show that I had a well paying job and it was stable.
Other than that it is all just a matter of judging character.
Davers, if you are in a fixed term lease the landlord (old or new) cannot force you out before the term is up. They can buy you out, at whatever your price is. If you have no price they have no choice but to honour the rental agreement, but lets face it we ALL have a price. If you are on a month to month a landlord can give you 60 days notice and must pay you one months rent.