Landlords by necessity – “They are basically in a rent out or die scenario”.

One of the results of the housing price run-up has been people becoming landlords out of necessity. After buying a house for over $1 Million they end up tippy-toe-ing across their living room floors every day so as not to disturb the tenants in their basements. This from ‘Tony Danza’ at Rob Chipman’s Blog 05.15.2008 at 8:17am

“FWIW I have noticed a lot more new basement suites in my hood (PG near Byng) and from some of the convos I’ve had with my neighbours and acquaintances who’ve put in new suites they are basically in a rent out or die scenario (one guy on my soccer team said if he misses more than a months rent from his two suites he’ll be screwed). A lot of these folks received early inheritances or no interest loans from their parents to get into their places in the early 2000’s.”

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