“We keep trying to pay up in rent to get a bigger, nicer place. They are invariably listed for sale.”

“We keep trying to pay up in rent to get a bigger, nicer place. They are invariably listed for sale. I’m talking three in the last week that my unsuspecting wife finds on craigslist. Pretty soon this is going to piss her off. I’m scared.
All I can say is thank God we’re not forced to move yet. That was three out of three by the way.”

Thomas Holloway (Zerodown) at VREAA 23 Aug 2012 11:37am

The mania has made renting less stable and more of an inconvenience than in more normal market environments.
– vreaa

46 responses to ““We keep trying to pay up in rent to get a bigger, nicer place. They are invariably listed for sale.”

  1. Agree it’s frustrating. This is an example of where market speculation amplifies, rather than corrects, the desire to buy at high prices.

  2. Joe_blown_away_by_high_housing_costs

    “The mania has made renting less stable and more of an inconvenience than in more normal market environments.”

    Thank you for recognizing this. Renters are constantly living under threat of renoviction. I’ve already told this blog how I was renovicted from my apartment in New West. I know one lady from that building was renovicted from her next apartment too, just a few months after moving there.

    When you find a place that is somewhat stable you tend to overlook a lot of deficiencies. After I was renovicted, we moved to a two bedroom in a large apartment building in Burnaby owned and managed by Pinnacle International. The heat and hot water would stop working for several weeks at a time during winter. Other tenants in the building told us this had been going on for years. Most put up with it because there were simply no other affordable vacancies–and if you do get lucky and find an affordable vacancy chances are you will be renovicted shortly after moving in. Also most places don’t allow cats. This place allowed cats so it’s a trade off– no heat or hot running water but at least I can have my cat (which causes no damage by the way, I’ve had her for 12 years, she is a sign of my stability, if I was a crack addict who doesn’t pay the rent I wouldn’t be able to keep a cat alive for 12 years). People just used open stoves to heat their apartment. There were also squirrels running in the roof in that building. You’d hear them scratching above your head.

    My parents live with this too. They’ve worked all their lives and they are still poor. They are lucky to have a very affordable rental of half a house in surrey. The deal is the landlord agrees to never raise the renter renovicted them as long as they don’t bug him for maintenance. So my parents are on their own for maintenance. Everything in their house is outdated: the washing machine, the oven is from the 50s, the electrical. Everything is very old and finicky and risky. It’sby the grace of god none of the deficiencies in the house have led to serious injury. But if they didnt have this affordable, decrepit rental my parents would have been run out of this province years ago. But if they start tolling the Pattullo that will be the final kicker that will drive my parents to Alberta. My dad’s job on the north side of the river doesn’t pay enough to afford a toll everyday.

    • I know of similar stories. I’ve sometimes opined, and heard others opine, that finding a long-term good rental is more work than finding a property to buy.

      • Where there is a will, there is a way. Frankly right now there isn’t a will for a serious discussion about housing ,quality of housing, affordable housing solutions, etc. There is meaningless talk about helping the poor, homeless, and addict with solutions that aren’t optimal for anybody. For everyone else, while they complain about housing, there is no political will for real reform, politicians are being bought by developers and work for the developers, and most people are still clinging to the dream of making it rich in RE and don’t want to change anything.

      • Renters Revenge

        Space889, well said. Couldn’t agree more.

      • Joe_Blown_Away_By_High_Housing_Costs

        Space889 said: “There is meaningless talk about helping the poor, homeless, and addict with solutions that aren’t optimal for anybody.”

        Exactly right! The only social housing we are getting is in the form of supportive housing for drug addicts and the mentally ill. Politicians, including the NDP, and most housing activists just don’t care about affordable rental housing for non-addicted working class families and individuals. It’s all about getting the drug addicts and the homeless of our streets.

        So what are working class folks supposed to do? No wonder so many of them overextend themselves with 40 year mortgages with 5% cash back down payments? There are only so many decrepit vacancies around that people can rent in. If you don’t want to be renovicted or put up with abysmal slum living conditions, you are forced to buy. The renters who are left are the ones who don’t even qualify for the easy credit we’ve had over the past few years.

      • ” there is no political will for real reform”

        When is there ever? Home ownership rates are high, owners outside the City can vote in civic elections, and raising the spectre of increasing property taxes is like talking about STDs with teenagers. 1/4 of the City’s revenue comes from RE-related activities, and that’s simply too big a cut to hope to focus discussions towards the proverbial elephant.

        I’m all for “reform” but one must consider where the money’s going to come from.

      • “finding a long-term good rental is more work than finding a property to buy”

        This is why you don’t have a ton of people lining up to sell their PR so they can “just rent”… nearly all owners have rented before, we know what its like.

      • “nearly all owners have rented before, we know what its like”

        Which is fine but, on a related front, this has nothing to do with marginal pricing. The exercise is logic taught in any (well-taught) first year university economics course:
        A large group of those demanding housing are willing and able to pay more because of intangible benefits (stability, control, etc.) and drive up the marginal price. Another large group — those demanding housing for investment purposes only — do not reap these intangible benefits and are focused entirely on ROI.
        1) Why would the latter group compete on price with the former?
        2) Explain the level at which the marginal price settles

      • Well said everyone! This is also why I really dis-agree with the argument that everyone who buy now is a speculator and deserves to suffer and burn for enjoyment as some bearshave posted. If you have two young kids and don’t want to raise them in a damn mouldy basement, have some stability, there really aren’t a lot of good rental choices. The ones that are good aren’t cheap either. So you are either face with paying high rent or buy something. Neither choices are really good for the family, it’s just a choice between pain #A and pain #B. If you have to choose, buying generally become the preferred choice. This is especially tough for lower to middle income families.

      • WOPR [aka Joshua] knows the score, Dr. J… Sometimes, the only way to win is to refuse to play…

        Speaking of Play…. It’s like this…

  3. Can’t buy a place because they’re stupid expensive.
    Can’t rent a NICE place cause you’ll get renovicted.
    But hey, you can ski and smoke pot on the seawall on the same day!
    BPOE indeed.

  4. Joe_Blown_Away_By_High_Housing_Costs

    i want to make one more point. Savvy renters who have survived the Vancouver rental market during this bubble know not to rent from a property speculator. I’ve been around the rental merry-go-round many times. I move every year or two, either due to renoviction or moving away from poor conditions hopefully to something better. I actually have a pretty good place right now because I am a savvy renter. I actually rented from this guy in the past and he re-rented to me in a heartbeat because he knows I am a good tenant (so one trick for survival is keep good contacts with your previous landlords, you never know when you might want to rent from them again; another trick is what my parents do: agree to assume maintenance responsibilities in exchange for never getting a rent increase).

    I know how to size up a landlord. I would NEVER rent from someone who I thought was a property speculator who was forced to rent the apartment because they couldn’t sell it. That screams eviction all over it. As soon as they sell, the new owners may very well evict you for landlords’ use. I would only rent from a landlord who I felt was a landlord by occupation–someone who owns a lot of properties specifically for renting them out. You can feel out where they are coming from based on what they say when you meet them. You also google the address and look it up on craigslist to see if they have been trying to sell it recently. In future, I will also get friends who have access to mls to look it up that way. The point is, all these speculators out there who think if they can’t sell, they can just turn around a rent: GOOD LUCK FINDING A GOOD TENANT LIKE ME! We know what to watch for and we know not to rent from amateurs who are going to sell the place and get us evicted. It’s also can be good to rent from a property management company–but that only works if you don’t have a cat. Currently, virtually all purpose-built rentals that are run by property management companies do not allow cats. Also, not all property management companies are good. I’ve had terrible experiences in a building run by Pinnacle International and Transglobe Property Management. Also, the Aquilinis for own the Canucks are also slum lords who own Bristol Estates in Surrey–total ghetto building. I would never rent from the Aquilinis.

  5. File this one under, “Could be worse?”… It’s all there… Renovictions, OffShoreMoney, FeudalEstates… and NationalisticAttachments (NoteToEd: Nope, we’re not talkin’ Scotland… C’est la Bourgogne! Sacré Bleu!)….

    But first… Your Quote ‘O TheDay!

    “I forget the name of the place; I forget the name of the girl; but the wine was Chambertin.” – Franco-British humourist and writer Hilaire Belloc (1870-1953) on the best day of his life.

    [UK Independent] – Quelle horreur! Famed Burgundy château goes to Chinese buyer

    A Chinese gambling tycoon has infuriated Burgundy wine producers by buying a château carrying one of the most prestigious names in French wine. The unnamed businessman, who owns casinos in Macao, has paid €8m, twice the locally estimated value, for the 12th century château de Gevrey-Chambertin and five acres of vines.

    Although his purchase represents only a tiny fraction of the 1,000 acres of vines allowed to use the Gevrey-Chambertin title, local wine producers are stunned. Burgundian vineyards are divided into a mosaic of family ownerships going back for centuries. They are seldom sold to outsiders. Chinese investors have snapped up dozens of châteaux in Bordeaux in recent years but none with names as prestigious as Gevrey-Chambertin. They have never previously bought more than a few small plots in Burgundy.

    “It is a despoliation. Our heritage is going out of the window,” said Jean-Michel Guillon, president of the union of Gevrey-Chambertin wine producers. “How would the Chinese feel if a French investor bought 10 metres, or 50 metres, of the Great Wall of China?”….

    http://tinyurl.com/crvgr8g

  6. Sorry to keep saying it but this should be shouted from the rooftops:

    If you sign a lease, you cannot be evicted for any reason unless you are in breach of the terms or of BC tenancy law. So if you pay your lease on time and don’t trash the place, your tenancy is guaranteed by law.

    No reno-victions.

    No flip-victions

    No MyMomsMovingIn-Victions

    You just get to live there, and are legally guaranteed Quiet Enjoyment, period. I view it as *more* secure than ownership.

    Sign leases people! Specuvestor Renovictor amateur landlords who are trying to scam you probably do not know about this. Just sign a nice long, legal lease and don’t worry about it again.

    • Joe_Blown_Away_By_High_Housing_Costs

      Burnabonian: Leases only protect renters from eviction during the term of the lease–typically one year, sometimes two years. Very few landlords enter into long-term 5 year+ leases.

      The Residential Tenancy Act actually makes no mention of “leases”. There are two kinds of tenancy agreements in BC: month-to-month tenancies and fixed-term tenancies. Fixed-term tenancies are commonly refered to as leases.

      If you have a fixed-term tenancy, you must specify an end date for the tenancy. When you enter into a fixed term tenacy, at the time you sign the rental agreement, you have two options for what to do when the end date arrives (this is straight from RTO rental agreement PDFs: http://www.rto.gov.bc.ca/documents/RTB-1.pdf):

      1.) the tenancy may continue on a month-to-month basis or another fixed length of time (NOTE: “another fixed length of time would require a new rental agreement to be signed upon the arrival of the end date, ie. both landlord and tenant must agree to extend the end date)

      2.) the tenancy ends and the tenant must move out of the residential unit

      I would never agree to option #2. I do have a fixed-term tenancy with my landlord. It was for one year. That one year has now passed. The tenancy automatically converts to a month-to-month. Yes, I was safe from renoviction during my first year here but now that I am into my second year my landlord is free to renovict me any time. I suppose I could ask him to sign another fixed term rental agreement for another year or multiple years. I guess I haven’t done that because he is hard to get ahold of and I don’t like to bother him. Part of being a good tenant is not bugging your landlord for things and getting them to sign paperwork. I feel like I don’t want to be too much of a nuisance because then he will evict me.

      In the beginning, we wouldn’t have wanted to sign up for a multi-year fixed term tenancy agreement because as a tenant you may not want to make a five year commitment going in. You never know how the apartment will turn out. You could get neighbours from hell and want to move after one year. So that’s why I would never sign a five year lease and I think very few landlords would agree to that anyways.

      These are the factors as to why very few tenants have long-term security of tenure.

      • Joe_Blown_Away_By_High_Housing_Costs

        Residential Tenancy Act fact sheet on “Selling a Tenanted Property”

        In the case of tenants with fixed-term tenancies/”leases”:

        “If the tenancy agreement requires the tenant to move out at the end of a fixed term (option #2 in my post above), the landlord does not need to give the tenant any notice to end the tenancy. The tenant must vacate the premises on the end date and is not entitled to any financial compensation. The landlord cannot require the tenant to move before the end date.

        Where the tenancy is for a fixed length of time, the Notice to End Tenancy cannot take effect before the end date specified in the tenancy agreement. The tenant also cannot end the tenancy earlier than the end date. However, the landlord and tenant can come to an agreement to end the tenancy earlier.

        If the tenant is not required to vacate at the end of the fixed-term (option #1 in my post above), the landlord must give a full two-month’s notice. The tenant is also entitled to financial compensation equal to one-month’s rent.

        If the two-month notice takes effect after the end of the fixed term and the tenancy converts to a month-to-month tenancy, the tenant can give a 10-day notice that is effective after the fixed term’s end date. The tenant is also entitled to financial compensation once the tenancy is month-to-month.”

        http://www.rto.gov.bc.ca/documents/Fact%20Sheets/RTB-125.pdf

    • Agreed. Leasing for 1-2 year periods (and renewing) also suggests a stable arrangement to the landlord. With so many people doing goofy things, this influence might matter.

  7. Renters Revenge

    I’ve rented 2 different houses, in both cases from accidental landlords, absolutely no hiccups and no stress. Annoying that minor things never get fixed but when 30% of your housing costs are being paid by the landlord it doesn’t seem right to complain.

    • Agreed. I’ve been on month-to-month rental for 12 years. No problems, I think I’ve seen the landlord once. Just maintain your own place and pay the rent. Christ, it’s easy.

      • Where are you folks renting (Ray and Renters Revenge)? Your situations would be unusual in my part of Vancouver at this point. Glad you’ve had no problems yourselves, but there are definitely dire problems out there that can’t and shouldn’t be dismissed.

  8. Speaking of ‘political will’… is it FridayAfternoonZen time yet?… File this one under CivicPride and HumungousErections…

    As BeleagueredFitnessFreaks everywhere lament the impending demise of Penticton’s IronMan Triathlon… [NoteToEd: to be replaced next year with an event curiously entitled, “Family Challenge” – which same would appear to be either a highly dubious misnomer or, alternatively, an official endorsement of ‘plural marriage’ along the lines of Bountiful]… it’s India to the rescue!

    [AlArabiya] – Burj Khalifa firm eyes another record by building world’s tallest statue

    “The management firm that built [the] world’s tallest building, Burj Khalifa, is eying another record by planning to erect the world’s tallest statue.

    The U.S.-based firm, Turner Project Management, signed a $450 million-contract on Tuesday to build the 182-meter-high Statue of Unity in the middle of Narmada River and opposite of one of world’s biggest dams in Western India, The Times of India reported.

    The statue will be of Sardar Patel, one of founding fathers of modern India, also named as “Iron Man of India.”… The statue which, will be almost four times the size of the Statue of Liberty in New York, will be 54 meter higher than the current record holder, the Spring Temple Buddha statue in China.”…

    http://tinyurl.com/cek5yc9

    [NoteToEd: Perhaps we could outdo India’s tribute to the patriarch of SouthAsianGrocerdom and MangoChutneys with a truly ginormous architectural folly of our own… Hmmm… Nem proposes we go them one better with… The Kolossus ‘O Kitsilano, a 500-meter-tall LululemonClad, iPhoneClutching Realtress™ PropertyVirgin bestraddling the entrance to FalseCreek – possibly with a revolving restaurant strategically situated in her HeadBand?]

    • PoliticalWill afterthought….

      [ChinaDaily] – Vice Premier Li Keqiang stresses fair distribution of low-income homes

      …”The government vowed to start construction on more than 7 million low-income housing units this year as part of its plan to build 36 million such units between 2011 and 2015 to stabilize runaway property prices.”…

      http://tinyurl.com/cbuhctq

    • Yikes! I almost forgot… re: Kolossus ‘O Kitsilano… One arm, held high, [like LadyLiberty] to incorporate a 10 GigaWatt UVA/B light source to combat SeasonalAffectiveDisorder and otherwise vitalize those poor unfortunates for whom TanningStudios are an extravagance too far…???

  9. We rent in Langley (from an amateur landlord), and even with a lease, I am always concerned about having to move at lease end. I recently found out that the owner has a mortgage on our rental SFH for about 80% of recent peak price, i.e. once it drops 20%, owner will be underwater on the mortgage. We have been here 3.5 years, and lease is coming up again soon. We will again request another 1-year lease (2 year lease would be better!) but hope the owner doesn’t figure out that selling now would be the wisest course of action. Yes, I believe that we could not be removed during the term of our lease (except for suddenly becoming bad tenants), but I assume that the place could be put up for sale during our lease and that a future buyer would have to honour the remaining lease term before booting us out?

    I have wondered how to handle a possible “I’ve decided to sell” announcement from the owner – try to leave ASAP? Endure endless showings? Think the best option would be to stay and endure showings etc. – in this market, chances are there would not be a lot of sales activity, and it may take months to sell, or it could even be pulled from the market after it drops through the “underwater” line, “to wait for the market to recover” 🙂

    Langley price change so far: meaningless HPI (YOY +0.3%), median YOY -0.9%, avg YOY -2.0%. Price:monthly rent about 277 previously, presumably less now. (I feel positively ripped off compared to other renters getting 300-400 or more ratios 🙂 🙂

    Had been tracking the monthly price changes in the Langley Walnut Grove detached HPI for the last few years, very annoying that it became meaningless and non-comparable as of Jan 2012. Also, they stopped reporting WG and other sub-areas individually. Anyone have a better method of comparing prices over time using currently supplied FVREB stats? I’m now going back and filling in the old average and median numbers, but still not so useful and I’m just not sure how to interpret changes to them.

    • Joe_Blown_Away_By_High_Housing_Costs

      “I assume that the place could be put up for sale during our lease and that a future buyer would have to honour the remaining lease term before booting us out?”

      Exactly correct. You have security of tenure until the end date of your fixed-term tenancy agreement, as discussed in my post above.

  10. Allow me to clarify:

    If you sign a lease, you are protected from eviction *for the duration of the lease*.

    Not sure why some thought I was implying that you’d be protected until the return of Christ

  11. This is what happens when government’s subsidize owners at the expense of renters. Sad reality is there’s nothing wrong with renting. In many European countries, people rent. For some reason here, they keep pushing for ownership. Hello? Not everyone wants to own, especially at today’s prices.
    More purpose rentals are need and fast. We’re losing all our young families and talent to other cities/provinces/countries.

  12. This phenomenon is an example of the destabilization of the market caused by an out of whack rent/price ratio

    Professional landlords get replaced by “people waiting to sell”

  13. People need to decide if they want to consume their home or purchase it as a store of value. The days of having both is over. If you want an example of what is likely to happen with RE (like very major asset bubble), just look at the S&P 500 Index trying to get passed its two peaks; if you purchased at any top, you’d still be down today, while its heading lower.

    This is not a housing bubble; it’s a global crises that will take decades correct.

    If you enjoy your home and are willing to consume it (like a car that depreciates), then buying is good. If you’re thinking it’s a good store of value that will in time, appreciate with inflation and retain purchasing power, then you’re wrong, cause it won’t.

    Think in decades, not years.

  14. 1 – Never, ever, rent from a known property speculator, or, for the most part, an individual property owner, unless you personally know them and have a solid read on their mindset towards RE.

    2 – Always rent from the many large professional RE management companies that are in the rental accomodation business, ” Boardwalk Equities” comes to mind as does “Realstar Management”,,,,,,,,,,those are two of the largest players here in Alberta anyways.

    I have rented m entire life and never had any issues of any kind whatsoever as described by people on this blog, merely by following these two simple rules.

    What is so hard about that ?

    • Joe_blown_away_by_high_housing_costs

      Carioca:

      You’ve never had any problems renting because you are in Alberta. Things started going crazy in the Vancouver rental market around 2005 and really crazy by 2007. I rented from1998 to 2006 with no problems in Vancouver. My parents rented in the 80s and 90s with no problem.

      Renovictions started in Vancouver around 2005. This timing is partly because thebc liberals changed the laws to allow renovictions a few years before that. Then with the Olympics coming in 2010 a lot of landlords started getting greedy. There were stories of people hoping to rent out their homes and apartments for tens of thousands of dollars per month during the Olympics. It was something to do with the speculative mania of the real estate bubble as well. I believe we have a far tighter supply of rental housing in Vancouver compared to Alberta cities. Vacancy rates are lower here. So all these factors have combined to create rampant problems for renters in Vancouver over the past few years. I mean, there used to be a time when a large number of rental buildings allowed cats. That is becoming fearless frequent. I remember a time the rental market in Vancouver was not this crazy.

      I disagree that property managemnt companies are always better landlords than individual property owners. Most of the renovictions in Vancouver have been done by the large property management companies. I was renovicted by transglobe property management. Also, the large companies are the ones with blanket no pet policies. At least with an individual owner you can negotiate with them and try to convince them to accept a cat.

    • Sound advice, but lemme tell you what’s so hard about that in certain Vancouver neighbourhoods over the past several years:

      Based on my own experience and the experience of other people I knew who rent or were trying to, 9 out of 10 landlords on Vancouver’s west side were speculators.

      That’s just one of the reasons why it’s called a speculative mania.

      As for the lack of political will to change the situation — there’s no political will partly because citizens here aren’t standing up and demanding changes. Hey, folks, it’s a democracy!

      • Agree in spirit.
        But, practically, I think you’ll agree, epte, that the whole Vancouver RE exercise demonstrates how peculiar challenges can arise in a democratic system.
        What happens when a very large herd/majority stampedes in an unwise direction? Can the very small dissenting minority do anything other than allow the stampede to play out?
        Attempts to educate come to mind as one possible intervention; but these almost have to be guerrilla in nature. Trying to use mechanisms within the system to turn the herd will almost universally result in failure. You’ll be voted down, for instance.

        PS Good to hear from you; pleased you’ve sorted out the technical issues regarding being able to comment here.

      • Thanks, Host.

        I do believe that measures such as higher property taxes and taxes for absentee owners need to be discussed at least vigorously. I’m working with some other people on ways of publicizing these issues and will update the blog as I can.

        I can’t have a conversation on the West Side without the issues of what’s happening with housing come up — introduced just as often by the other person as by me, including total strangers. I simply can’t understand the disconnect between the dismay many people feel about housing here (even people who are comfortably situated) and the lack of stronger political action.

        If we think of more dire situations in history, small dissenting minorities have actually, eventually, accomplished a great deal. Though I understand much more about the tidal movements of markets and manias now, thanks to this website, one never knows what is possible if one tries.

  15. Carioca Canuck

    Calgary has been thru a couple of housing booms since I have been here (1973 – present accept for a couple of years in YVR during the mid 80’s)……..we had a string of renovictions back in 2005-2007 when private individuals who owned apartment buildings turned them into condos. It made the news and action was taken by the government to change the rules. We had greedy landlords during the 1988 Olympics as well. Doesn’t matter where you are, things are not different here, and Vancouver is not different than Calgary as well. Pets are always as issue for all landlords, and the condo we rent at present requires a one month “equivalent to rent ” non-refundable pet payment.

    So, having said all that, if you chose your landlord carefully you minimize your risks. The key is to have time on your side. Landlords lie just as bad as realtors do, always remember that. You hold the cards and time is the biggest asset you have. Making sure that you have time puts you in the drivers seat. Before we moved in 2010, we had been living in a purpose built luxury rental high rise in an area of Calgary called Mission. The landlord tried to increase our rent in 2008 and we said no, we’ll move if you do, so they backed down, in 2009 we negotiated a $100 a month rent reduction…….and in 2010 when they wouldn’t budge and wanted to renew at the same amount, even though 25+ realistic comps showed they were $200+ a month higher than anyone else, ergo, we gave our notice and moved out. The look on the resident manager’s face was priceless. I even drove by every month for 6 months and the place was vacant for 4 before it was re-rented. So they lost $500 a month in annual revenue by letting us walk ($6K of no rental income for 4 months)……and all we were asking for was another $100 a month less. Many landlords are also stupid.

    A guy who moved here works at our company. I gave him some advice while looking for a rental. Basically repeated my advice in the aforementioned post but told him to set the prospective landlord up, bait them with htis excellent creit and cash inhand deposit, and then tell them that a condition of his 24 month lease was that if the place got listed for slae the lease was nulll and void and he could move out on 30 days notice with no penalties. He figures this approach saved him from renting off of property speculators 3-4 times. Now someone will post here saying that “blah, blah, blah” if you have a lease you can’t get kicked out, etc, and that is true, but it’s also not the point of the exercise.
    Moral of the story…………..do your due diligence, always have time on your side, and choose your partners wisely.

    • Joe_blown_away_by_high_housing_costs

      I really think things have been exceptionally difficult for renters in Vancouver over the past few years.

      ” It made the news and action was taken by the government to change the rules.”

      Wow! You mean Alberta actually has a government that listens to citizen feedback! Renovictions have made the news in BC too but the BC Liberals are far too stubborn to change their laws. The BC government response was to renovict their own tenants out of BC Housing so it can be turned into condos. Our only hope to change the tenancy laws in BC to put a stop to renovictions is if the NDP is elected. The Alberta conservatives actually sound more left wing than the BC Liberals. As an NDPer, I would rather have an Alberta conservative govt than a BC Liberal govt. the BC Liberals are pure rotten.

      • Joe_blown_away_by_high_housing_costs

        One more thing. The Calgary Olympics did not happen during a time when we had 40 year mortgages with 5% down payments. Vancouver Olympics coincided with a period of historically cheap credit. This combined to make one helluva epic speculative frenzy that has just pummeled working poor renters.

    • Joe_blown_away_by_high_housing_costs

      Okay one more thing.

      “Pets are always as issue for all landlords, and the condo we rent at present requires a one month “equivalent to rent ” non-refundable pet payment.”

      If you’re paying a non-refundable pet payment that means you are allowed to have a pet, you just have to pay extra. What I am saying is the vast majority of purpose built rental buildings in Vancouver do not allow pets period, end of story, no exceptions. BC tenancy law allows landlords to charge a pet deposit. My individual landlord charged me a pet deposit, for which I am grateful, because it means I am one of the lucky few renters who is allowed to have a cat in metro Vancouver.

      I know pets have always been issue. I remember it was always hard to find a place that accepts pets. But what I am saying is it is worse now in Vancouver. I am not exaggerating, the vast majority of rentals in Vancouver, ESP. Purpose built rentals run by property mngmtco panties, simply have completely banned pets from their buildings. It doesn’t matter if you offer a million dollar pet payment, the pets are not allowed period. It’s not negotiable, unless you are dealing with an individual property owner.

      • Wow. That explains a lot, Joe… I was wondering why Henri has been in such a FelineFunk lately…

  16. Good tips, CC!

  17. Joe_Blown_Away_By_High_Housing_Costs

    Gordon Nelson Investments, Hollyburn Properties, Amacon Properties, Transglobe Property Management = all property management companies that have renovicted their tenants. There are many more examples.

    The idea that property management companies make better landlords and that you are less likely to be renovicted than compared to a private individual landlord is simply wrong in the milieu of Vancouver in early 21st century.

    We can talk about how we would never rent from specuvestors-forced-landlords all we want but the reality is many renters in Metro Vancouver have no choice but to rent from these amateurs. There is a dire shortage of purpose-built rentals and the conditions in these old buildings are often attrocious. Individual property owners who rent out houses, townhouses, condos make up a crucial part of our rental supply that some of our renters are now dependent upon.

    My experience is that it is better to rent from an individual landlord (but someone who owns several units as a business renting them out…not a pure specuvestor who just wants to flip) than a big property management company.

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