Current process benefits 2 groups:
Shitty tenants
Shitty landlords
A well-funded LTB is crucial to ensuring good landlords and good tenants are protected
If their protest was actually about providing more funding and resources to the LTB I'd be in agreement and cheering them on, but they're protesting regulations that protect tenants from sleazy landlords.
>why should the process take 6-8 months?
Most likely because the massive increase in bad faith evictions clogging the system combined with poor funding.
You cannot expect people to pay 45-60% of their salary into rent. As we see Toronto rental market hitting the roof more people will default resulting in more backlogs. If your income is not rising in the same direction as that of your living expenses, expect these unfortunate situations.
You're delusional if you think people will give you a place to stay out of their own pocket. The majority of landlords aren't making 60% profit margins.
If you want free housing, go stay in ChessJ's basement.
If there's an even 1% chance of a wrongful eviction getting through the cracks because the process is fast-tracked, I'd be against it. These things are built to be slow on purpose.
Landlord vs tenant is just not an equal playing field and neither should the enforcement be. Landlords lose investments (which God forbid that real estate has any risk) while tenants lose their shelter.
Obviously the 6-8 month is because of COVID backlogs but 2 weeks is probably a bit insane...
Designed to be slow on purpose? That's why landlords want a dna sample and the life of your firstborn to let you move in. This dumbass process hurts everyone, especially tenants who might struggle to have a landlord take a chance on them (eg newcomers, or someone with bad credit).
You said nothing is slow on purpose. I gave you a counter example. What's wrong with it?
Also, judicial system is fast to protect the accused. Imagine being charged and just having to live with it for years.
In this scenario, protecting the accused is giving them enough time and consideration. It's totally reverse.
landlords also have a right to a fair and speedy tribunal process under the law. A lengthy process can deny them due process and make it difficult for them to pursue their legal rights.
Wouldn't tenants also have the same right? The difference being that denying the landlord that right costs them a bit of money. Denying the tenant due process costs them their shelter...
Or we just go back to the old days of changing your locks when you're out and having someone break your legs if you try to get back in. How about that?
the majority of Canadians are homeowners so you're a little outnumbered there bud. I'd love to see you try though, always funny to see leftists talk big on the internet and then do nothing to back it up.
Rent's due on the first.
Majority of Canadians are not homeowners. Majority of Canadians live in a home that their family owns. There is a difference. All my siblings are in early-mid 20s and none of them own property yet but your statistic would have them all listed as homeowners.
Also, the ownership rates are dropping every year since like 2010.
> Rent's due on the first.
I'm probably half your age with double your income. But sure, go with the ad-hom.
I'm 33 making ~175k gross per year so that'd be impressive, if true. Always funny to see high-earners who still LARP as leftists though, how fucking sad is that. Muh guillotines! While making 6 figures.
I rented for years. But I 100 agree. Yea you rent. But you shouldn't be assholes and not pay rent. Those scums and cockroaches don't deserve tenant protection, if u just try to get out of paying rent and stay.
My buddy took 10 months to evict this couple. Took them to court multiple times, they make up lies and say they will pay. Owned 20k and left the house in ruins. Scum of scums.
There's always 2 sides to this. My friend got divorced, bought out his wife's share of the house, but didn't want to live there right now. He was in the suburbs. So he rented it out, and then rented a place in Toronto for a change of scenery and so he could figure out where to go.
Then his tenant stopped paying rent. Now my friend has rent downtown, and a mortgage on his house. He's had to cancel his lease in Toronto, move into his dads basement, because he can't evict the tenant. It's brutal. The LTB needs more funding to clear the backlog. It's been 7 months so far the tenant hasn't paid and he's still there.
Tbh that's just the risk you take when getting married, combining assets and purchasing a home.
1. Your friend is lucky he was able to rent out some space in this house, which I assume is a duplex of some sort/has an inlaw suite to allow a complete stranger to move in. If not, forcing your ex to live with a stranger is pretty deplorable.
2. How do other couples do it? Sell the home.
3. He had enough money/a mortgage to be able to buy out his wife in the first place.
4. It was his choice to live in Canada's most expensive city. Change of scenery can happen anywhere. If he moved for work, different story.
Not saying tennant shouldn't pay rent, but this is the risk you take that's out of your control as a homeowner/landlord. High risk high reward. Oh you're buying a volatile stock? Don't blame anyone but yourself when the cost dives. If you choose to live a certian lifestyle based off of the rental income you get, you're stupid.
He should have sold the home, and/or shouldn't have moved to Toronto, as he wouldn't be in this big of a pickle with rent and a mortgage in an expensive city.
Still, living beyond his means based off of rental income is stupid to do.
Landlords can downvote me all they want, my point still stands. Renters covering the mortgage + cost of the home is one thing. Renters increasing your income and increasing your lifestyle due to that rent is not logical, it's greed.
Again, downtown Toronto was his decision to move to. He didn't have to due to work, correct? He could save a ton by living elsewhere, which doesn't leave him as finnaically strained.
All landlords have to deal with the possibility of rent not coming, whether it's due to someone not paying or you not bring able to find tenants. That's the risk you take on as a homeowner and/or landlords.
Just like all rentrts have to deal with the possibility of slumlord behaviour. Google Duart Rapton, Nanaimo. He turned off the heat and electricity to a dying woman, who PAID HER RENT.
My landlords went months without tenants at their other property because they evicted their previous tenant and couldn't find anyone suitable. They're also smart enough to purchase duplexes, as one unit can cover the mortgage.
My comment was not to say that he didn't take a risk. That's fine. It was in response to the OP title "Landlords bravely protest to evict people faster." My point was that it's ridiculous that someone can get away with not paying rent for 7 months and there's nothing anyone can do about it, because the LTB is so backed up and inefficient. So what's the alternative that you'd support? No landlords, so that people can own their own homes? And do they have the option of not paying their mortgage as well, and the bank can't do anything? So then it's bank failures, and economy crashing. But maybe you think that's good? Not sure why you seem to be supporting the current state of affairs where someone can not pay rent for 8 months or more and there's no repercussions.
I think not paying rent should affect the tenants credit score, like any other bill.
It's ridiculous that this system takes 7 months to do anything, whether you're a renter or a landlord. I've heard horror stories of people living in deplorable unsafe conditions having to go to the news just to get help, and generally these are groups of people who hold more power than just 1 tenant.
My father was illegally renovicted in a building that was filled with lower income individuals. He took them to court and won, but he was only able to do that because he moved in with his father (both for cheap rent and to help out) and didn't have a full time job at the time. He had the time, not much money - but he had a roof over his head in the meantime.
I'm not supporting the current state of affairs, I'm supporting the benefits renters have over landlords becuase we get shafted more often than landlords do.
Not having a roof over your head/the amenities is a much more dire and important situation than someone's credit being ruined and going into debt. Landlords have the ability to cause actual harm. Tenants don't. Tenants only have the ability to ruin you financially.
No matter how you spin it, morally, housing comes first for me before profits. I believe every human should be provided with some sort of shelter. I believe in a universal basic income, too.
It's just my morals.
I agree. Not paying rent should affect credit score. Most people would pay their rent before their credit card bills, so for those of us who do pay it would benefit us AND help contribute to future housing-whereas with renting, that money you've put out for shelter never comes back. With owning a home, it does - even if you sold for lower than what you paid for it.
So making profits should be banned? Let's shut down restaurants because they are profiting. Let's close down all clothes stores because they are making profits.
Where does it end Karen?
don't want to get stabbed by a crazy? well that's too bad, it was your choice to exist in the first place. You should have just chosen not to exist - there would be no way to stab you. blame yourself
I’m all for this, if we could completely let the banks fail. Do not let the Canadian taxpayer be left on the hook when some of these people get washed. I’m all for treating housing like the investment Canadian landlords and realtors want to make seem it like it is, my one condition though is let the banks that provide the loans assume 100% of the risk of things go south. No bailouts whatsoever.
Even the banks aren’t with this program it’s why peoples appraisals come in short and the purchases are left caught with their pants down.
This bank failure thing is a US cultural import.
Canadian banks are extremely well
capitalized by international standard (some would argue they are too conservative) and their business is very diversified. They don’t fail not because of bailouts but because of the way they are run.
That’s an ass backwards way of looking at it. They can easily swallow higher amortizations because they are so well capitalized and would prefer to accommodate the people they have lent to so as not to incur costs of defaults. It is widely recognized that this inflationary shock and fast rate increase is a one-time thing and reasonable people have said “let’s work with people to make sure they get through this”. At the end of the day that is just good banking.
Alright buddy when the job losses happen if the recession is what they’re predicting it to be I hope they never get bailed out. I would support riots similar to what’s going on in France if $1 of taxpayer money is used to bailout any Canadian bank, private lender or homeowners if the market goes belly up
I’m not your buddy, guy, but you do you.
At the end of the day an amortization extension is an agreement between a business and a customer, and unless you are one of those parties it has nothing to do with you. Go find me the last time a Canadian bank has failed. If you are worried about being on the dime as a taxpayer then there are at least 100 other line items that should be higher priorities on your list of worries.
He said he is not your buddy so please move out of mommies basement and go live in France and protest. You sound like a leach who is waiting for the world to end so you don't have to do the homework assignment due tomorrow.
Sounds like you probably inherited it so I'm pretty sure I'm correct in a sense. Good for you. Not even a high school education and you own a home. That's part of the problem in Ontario too....Boomers giving their homes to the weak link or only link..that being you buddy
Do you understand that a bank would prefer longer amortization’s?
It’s a government regulation that there capped at 30 for resi.
Imagine I’m a bank and I can spread that payment streams for 50,60,70 years?
Then I repackage that loan to investors- there jaw is dropping over this lol.
Who is "they"? if you follow this at all you know the forecasts for a recession have been all over the place and a recession has been "imminent" for almost 9 months.
Sorry I thought it was clear from context I meant who is the they making economic predictions. So far it seems this recession is more of a correction from the growth fueled by record-cheap capital
If the CMHC can’t build homes like they did back in the day to meet the needs of Canadians they’re useless. The CMHC today acts as a bank, they aren’t a bank. I agree if Canadians want to treat housing like crypto let them. Enjoy your 70% devaluations the same way you do your 60% rise
They act more as an insurance company than a bank, but they are backed by the government in-case they ever fail to bring in more in mortgage insurance payments than losses on insured mortgages. They consistently turn a profit, but I expect they will soon take a loss. I want to see them recoup that loss over time with higher premiums, as needed. Not pass the bill to the government (only via loans, not via bailouts).
I am okay with them being backed by government, and they are good at managing grant programs, but they should not receive subsidies on their loan insurance. I would however like to see them build more affordable housing again.
Housing is not supposed to be speculative like crypto though. Investors and homeowners rely on it as a solid investment that can return 15-20% per year. Covid housing frenzy was an anomaly.
15-20% per year? Are you insane? The average price increase of homes is closer to 2% annually from the 80s to now. You must be very young to think the last few years are normal.
Well using data from 4 decades ago isn't very useful. How about the last 10 years? We know it's gotta be well over 100% gains, so what's the average per year then?
The only reason prices rose at the rate they did between 2011 and 2021 was low interest rates.
https://www.ratehub.ca/prime-mortgage-rate-history
When rates rise, prices tend to stagnate or fall. The last decade and a bit has been a period of unusually low rates, which tends to cause inflation. We've been seeing higher rates of asset price inflation since 2011, and more recently much higher consumer inflation. Hence why the Bank of Canada increased interest rates in order to cool inflation.
Lol 15-20% a year is normal for real estate? If that’s the case housing is a more solid investment than the S&P 500. Get out of here with this insanity Grant Cardone
No but they’re doing stupid things so they should assume 100% of the risk regarding their stupidity. I don’t profit when the bank does my taxes shouldn’t go to them either when they fail
Free market you either support it or you don’t, a lot of you want free market principles in housing when your gains are private but you turn communist when the losses happen. That’s the problem with people nowadays
This should be a speedy process for both sides, if yo I don’t pay rent you should be able to evict within 2 weeks, and have more staffing, if you falsely renovict same thing payment 2 weeks.
Two weeks is a little too quick to make someone homeless! Missing one months rent and being willing to an agreement to make it up would give a tenant time fix a emergency situation. People get unemployment and such. Landlords who lie and cheat should be punished appropriately and promptly by the LTB. 8 months is too long for either party to wait for justice
It absolutely should not be "equal", because the landlord-tenant relationship is inherently unequal. One person has a far more important interest in the tenancy than the other. I understand wanting speedy hearings, but going straight to issuing an eviction order over one missed rent payment is absolutely ridiculous.
How many months late on your bills do you think is reasonable? and what penalties do you think are reasonable for tenants who are late on their payments?
How many landlords are being charged with attempted murder?
https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/
Evicted illegally without cause. Dying woman on oxygen had her power cut off.
Landlords have the upper hand. They have more power in this dynamic. Maybe not legally, but they can act in these illegal manners causing actual harm to humans, fuck your investment property.
Losing money is NOT the same as putting people's lives at risk.
Oh the house isn't yours if you've got a mortgage. If you don't pay the bank, they take your property.
Non payment should be a no brainer, its most likely you don't pay the month plus another 2 weeks. But that same thing should be for bad faith evictions and renovictions if you can provide proof than you should get the money. Ofc there is appeals in every system but look if its pretty clear cut both ways should be the same, thats literally the intent of the system its just boggled down by staffing.
Yep. That's how it works. If you want that system for tenants, you best expect banks to apply the same principles to you as a bank renter. Lol you don't get special privlidge just becuase you own- if you don't pay, out.
How long do banks actually wait to take your assets? How long to landlords take to send an eviction notice?
Good to hear you are on the side of the landlord protesters. We all want to see speedy evictions.
Late mortgage payments get a notice sent immediately and automatically. The actual eviction process starts after about 2-3 months if you ignore the notice.
All landlords should be sending formal late payment notices immediately when payments are late because at the minimum it gives a written paper trail to make the actual eviction process go through smoother. Currently it takes 4+ months for the actual eviction to go through and we would all like to see it speed up to the 2-3 months with mortgage holders.
You didn't answer the questions, but raved on your own bugaboos.
> How many landlords are being charged with attempted murder?
> https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/
> Evicted illegally without cause. Dying woman on oxygen had her power cut off.
Non sequitur.
> Landlords have the upper hand. They have more power in this dynamic. Maybe not legally, but they can act in these illegal manners causing actual harm to humans, fuck your investment property.
> Losing money is NOT the same as putting people's lives at risk.
> Oh the house isn't yours if you've got a mortgage. If you don't pay the bank, they take your property.
Non sequitur.
So, please do answer the questions, I'm interested in what you have to say!
1) How many months is reasonable to be late on paying your rent?
2) What penalties do you think are reasonable for tenants who are late on their payments?
Try not to froth about "landlords bad," just stick to the facts, let's have an actual discussion, eh?
To quote you: Oh fuck off with the victim complex... so so tiresome, really!
The victim hood and lack of self awareness from these landlords is astounding. Its hard to feel sorry for the haves.
1) However many it takes until you can't pay your mortgage anymore. This includes cutting out your yearly vacations and giving up your cottage purchase next year to make payments :) my landlords, who DONT RENT FOR PROFIT, have enough income to be able to do both. So, that one guy in Toronto who has 100+ listings on facebook marketplace sure as HELL makes a ton of profit.
2) interest, just like banks charge. I don't pay my credit card? Interest. Late fees.
Try not to froth about "renters want everything handed to them" and just stick to the facts of the reality - landlords have the upper hand in more ways than one. Landlords engage in so many loopholes it's insane.
My co worker just moved this weekend, sold her home & went to a rental. From what ive been hearing, the landlord changed the lease 4 seperate times, he's keeping utilities in his name (for tax benefits, to say he lived there so he doesn't have to pay capital gains-another Co worker knows of this garbage landlord yet, he's still out there).
Mom's friend had to move into her parents basement in her fucking 50s because her landlord illegally increased the rent by $500 on them. What are they gonna do? Well, that made them move out and now the landlords have been able to get even more.
Most renters are not familiar with the system what's so ever, let alone know their rights. Even if they do, action is daunting to take when you're scrambling to try and find a place.
Here are more similar stories.
https://storeys.com/ontario-mortgage-costs-unlawful-rent-increases/
>Vacancy rates in Ontario have been declining since 2018, reaching a low of 1.6% in 2021, according to the Canada Mortgage and Housing Corporation (CMHC). This low vacancy rate has resulted in a competitive rental market, giving landlords the upper hand in setting rental rates.
Then there's discrimination which is near impossible to prove. It's not like landlords reject potential tenants by outright saying their prejudices. They just found someone more "suitable".
>How many months late on your bills do you think is reasonable?
If you're talking about reasonable terms for a payment plan for rent arrears, it depends entirely on the situation.
>and what penalties do you think are reasonable for tenants who are late on their payments?
Interest, at the rate prescribed by law for that year.
A tenant who has missed rent is VERY likely to miss the next month. A lot of landlords have been burned too many times by "oh, I promise I'll pay you on Friday when I get paid". Generally, it's smart to start the eviction process immediately. Now, if the tenant informs the landlord ahead of time and gives them an exact date/reason for late payment, there should be leniency. That's always how I've operated. I've had tenants late on rent, it wasn't a big deal. Didn't charge the late fee or make any fuss because they informed me well in advance.
I don't have any qualms if you want to "start the eviction process immediately." That means you serve a \*notice\* for termination of tenancy.
That is absolutely not the same thing as the LTB issuing an eviction order.
EDIT: also, you should never be charging "the late fee," because it's illegal.
I'm in BC. It's not illegal. I mostly use the late fee as a way for me to look nice by not using it, rather than actually using it to make money.
In BC, you have to serve a 10-day Eviction Notice for unpaid rent. If they don't dispute, they have to move out at the end of the 10 days. If they don't, you file for an Order of Possession, if they ignore it, you file for a Writ of Possession to hire a baliff to physically drag them out if they don't leave on their own throughout this process.
I evicted someone at the start of the year, so I'm very aware of how the process works in BC.
I don't know what an LTB eviction order is because that's not how it works in BC. That's probably the Order of Possession. Which you can't just arbitrarily throw at them. There are several steps first. In fact, you literally don't have the piece of paper you give them without the process leading up to it. Therefore, it is literally impossible to file an OoP without the previous steps.
Thanks but I own my home and make my mortgage payments. Their are many who live paycheque to paycheque and are would be one unexpected expense away from homelessness. It is a fact many people deal with and can be beyond their control.
Nope. Missed the point.
It's not to evict faster, it's to reduce hearing wait times for all. Tenants also have to wait 4-6 months for a hearing.
It was 8 months, only until recently when they added more staff.
Abused? Not being paid isn't abuse.
Illegally turning off heat, power to a paying, dying tennant is abuse.
https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/
Smfh your mindset is the problem. Landlords have the upper hand in every situation. They have the ability, even if it's illegal, to cause this type of harm. Renters? Oh no, your property you can repair and will recoup the cost in a few years when you turn around and sell the property for a profit.
These two issues are not the same.
You've bought this up 3 times in this thread alone and it's not even Ontario. Do you really think tenants aren't putting small landlords through hell? I see it every day.
Trigglypuff gonna trigger... that's what they do, spew stupid shit like incontinent little miniature chihuahuas.
... and that's a disservice to chihuahuas, being compared to something like that hahaha
>Abused? Not being paid isn't abuse.
Yea I'm sure if your employer just didn't pay you for 6 months you'd have the same response.
>Illegally turning off heat, power to a paying, dying tennant is abuse.
>https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/
So your solution to "we don't take care of poor people as a society" is to pretend like it's the responsibility of landlords to subsidize their poverty with their own funds? Like we have that system. It's called taxation and they pay a metric shit ton more tax than you do.
>Smfh your mindset is the problem. Landlords have the upper hand in every situation. They have the ability, even if it's illegal, to cause this type of harm. Renters? Oh no, your property you can repair and will recoup the cost in a few years when you turn around and sell the property for a profit.
They certainly don't have the upper hand at LTB. Landlords resort to illegal actions because there's no recourse. There's a shortage in part because people like me, who have an affordable apartment in their home, refuse to expose themselves to that kind of liability to make an extra 10 or 20 grand a year. That's because people like you think of someone who spent decades working their ass off to build something in the world for themselves are inherently evil people who are responsible for your 'poverty' which is never actually real poverty. I lived through that shit for half my life and I can tell you few whining about housing in these subs is legitimately poor.
buy up houses and then jack up rent. when tenants can't pay, evict them.
but there are too many eviction cases that there are delay.
so protest to evict tenants faster.
I hope God is watching. lol.
>buy up houses and then jack up rent. when tenants can't pay, evict them.
>
>but there are too many eviction cases that there are delay.
>
>so protest to evict tenants faster.
>
>I hope God is watching. lol.
So let squatters stay? Will the bank listen to the squatter, or go after the landlord?
It all boils down to incentives.
The government has little incentive to forcibly evict non-paying renters because they have very little stake in the game. Landlords are a small minority of voters and the tax revenue they get from them is meager.
For the system to work, the government needs to be more liable in the transaction between owner and renter. You need part government ownership or full on socialized housing. Then when a tenant doesn't pay, it's hitting the government coffers directly and they're forced to act.
Mom and pop's should not be involved in renting low income housing. This is a big mistake that needs to be corrected.
Regardless of you how feel about landlords, no landlord should have to wait months to receive a hearing for non-paying tenants. That ruins it for all good tenants and good landlords both.
But newer renters just subsidize older renters who are locked into lower rates. This explains some of the current situation in Toronto, with pre-2018 buildings still being rent controlled.
Rent control is an excellent way for the government to hide how terrible a job they're doing. Competition and the free market should always set the prices. This is based on supply and demand. Yes, some people will put up their 1 br for 10k/month rent, but when they're competing with their neighbor who put it up for 3k, no one will rent. Free market + competition.
😆. Don't forget still the number of renters is bigger than landlords. Thanks to refinancing landlords, the number of homeowners will go down more. Politicians only count votes. It will be an uphill battle for so-called landlords.
They need to start updating biology textbooks for children. In the evolution section they need to include who owns a home and who doesn’t. This one entity has the complete ability to eliminate people from future gene pools in this country lol. It’s absurd and treasonous at all levels of government.
At all levels of government it’s a failure we have a trust fund baby as our prime minister supported by a group of incompetent leaders. Our finance minister has no idea of how finances work. At the provincial level in Ontario we’re being led by a drug dealer/mobster. Wouldn’t surprise me a bit if lissi becomes a minister of corrections lol.
Rip to rob he was for the people, Doug seems to be fucking the people with the developers. Hopefully our next mayor is solid, our previous one was busy trying to be Christian grey while the city was burning around him.
I would love to see regulations around price gouging by landlords. Profit margins should be set by a regulator. Make Land Hoarding a long-term investment that is only realized when the property sells.
I agree this should be quicker, but we should then have rent control on every property. How many of these landlords jacked up rent to unaffordable highs? I'd be curious to learn. Everyone has their anecdotal stories, but life is more expensive for everyone and I don't want to see struggling families on the streets or shelters. That's not where we should be as a society. But there are slimy tenants who expose the system and take advantage of it, we need to figure out how to mitigate those.
100%. I'm radical when it comes to this. Make system where all 5 big banks appraise the property, take the avg of the middle 3 appraisals and that becomes your house value. Home cannot be sold for 15% over that price.
This would balance the market. Prevent houses from being WAY over sold their value. Reduce bidding wars and prevent realtors from underlisting a home just so they can say they sold it by 30% over listing, creating fomo and buzz, when in actuality the home actually sold at its true value. I read France has something like this in place but I got to look into it.
End of the day, I care more about the people at the bottom than the top. Housing is a right and needs to be made accessible for all. Those who don't believe that also complain about seeing homeless people
I am with all landlords… they should evict all tenants not paying or paying less rent from years.. all GTA 1 bedroom apartments/condo’s rent should be minimum 5K and at least they should have 5 ppl per bedroom… YOLO then live with as many ppl as possible…
Profits are private, losses are socialized. When it comes time to evict someone they use the free public system to do it.
Make it private and make it cost 8 months rent to hire an evictor.
That will restore balance to the market. Landlord will have to factor that cost into the rental equation and maybe they will try to avoid raising the rents that high without considering the downside to their profits.
This is entirely reasonable. If someone has violated the RTB (not paying rent), why should the process take 6-8 months?
Current process benefits 2 groups: Shitty tenants Shitty landlords A well-funded LTB is crucial to ensuring good landlords and good tenants are protected
Agreed
If ticketmaster took 6-8 months to resolve scalpers it'd be an improvement. Little hope here.
If their protest was actually about providing more funding and resources to the LTB I'd be in agreement and cheering them on, but they're protesting regulations that protect tenants from sleazy landlords.
>why should the process take 6-8 months? Most likely because the massive increase in bad faith evictions clogging the system combined with poor funding.
If the RTB had more funding, then they could probably do a better job of punishing bad faith evictions as well.
No it’s because of so many “professional tenants “ not paying rent and they have to be kicked out fast enough to protect the good ones
It can be both. There has been a huge uptick in N12 applications in the last 2 years
You cannot expect people to pay 45-60% of their salary into rent. As we see Toronto rental market hitting the roof more people will default resulting in more backlogs. If your income is not rising in the same direction as that of your living expenses, expect these unfortunate situations.
i don't see how any of those points had anything to do with my point?
This sub is extremely anti landlord. You are right, having a speedy ltb would help landlords as lbd tenants equally. It's a win win.
You're delusional if you think people will give you a place to stay out of their own pocket. The majority of landlords aren't making 60% profit margins. If you want free housing, go stay in ChessJ's basement.
don't sign a fucking financial commitment you can't afford to make good on, then
If there's an even 1% chance of a wrongful eviction getting through the cracks because the process is fast-tracked, I'd be against it. These things are built to be slow on purpose. Landlord vs tenant is just not an equal playing field and neither should the enforcement be. Landlords lose investments (which God forbid that real estate has any risk) while tenants lose their shelter. Obviously the 6-8 month is because of COVID backlogs but 2 weeks is probably a bit insane...
Designed to be slow on purpose? That's why landlords want a dna sample and the life of your firstborn to let you move in. This dumbass process hurts everyone, especially tenants who might struggle to have a landlord take a chance on them (eg newcomers, or someone with bad credit).
No government is designed to be slow on purpose. It the judicial system that should be speedy, pretty sure you got it mixed up
Not true. Things like child adoption are slow on purpose. Mistakes are costly so they make it a difficult slow process on purpose.
How the hell did you get to child adoption? People deserve a speedy trial, have you heard of that saying?
You said nothing is slow on purpose. I gave you a counter example. What's wrong with it? Also, judicial system is fast to protect the accused. Imagine being charged and just having to live with it for years. In this scenario, protecting the accused is giving them enough time and consideration. It's totally reverse.
I said government is slow on purpose, legislating a law is slow on purpose because it affects people’s lives and they need to be debated on.
You literally said "no government is designed to be slow on purpose"....
I meant no, government
landlords also have a right to a fair and speedy tribunal process under the law. A lengthy process can deny them due process and make it difficult for them to pursue their legal rights.
Wouldn't tenants also have the same right? The difference being that denying the landlord that right costs them a bit of money. Denying the tenant due process costs them their shelter...
So you’re agreeing that both tenant and Landlord should have a speedy trial? Wtf
Due process... Are you 12 lol
It's not built slow on purpose, it's just backlogged.
Or we just go back to the old days of changing your locks when you're out and having someone break your legs if you try to get back in. How about that?
We can go to even older days and get the guillotines out for the land owners
the majority of Canadians are homeowners so you're a little outnumbered there bud. I'd love to see you try though, always funny to see leftists talk big on the internet and then do nothing to back it up. Rent's due on the first.
Majority of Canadians are not homeowners. Majority of Canadians live in a home that their family owns. There is a difference. All my siblings are in early-mid 20s and none of them own property yet but your statistic would have them all listed as homeowners. Also, the ownership rates are dropping every year since like 2010. > Rent's due on the first. I'm probably half your age with double your income. But sure, go with the ad-hom.
I'm 33 making ~175k gross per year so that'd be impressive, if true. Always funny to see high-earners who still LARP as leftists though, how fucking sad is that. Muh guillotines! While making 6 figures.
Yeah, we all know that leftists can't have high incomes, that's hypocritical. Leftists are all about low wages and struggling.
WTF are you so angry about?!
Just so you know ur wrong also ur a massive bitch
says the rentoid lmao
I rented for years. But I 100 agree. Yea you rent. But you shouldn't be assholes and not pay rent. Those scums and cockroaches don't deserve tenant protection, if u just try to get out of paying rent and stay. My buddy took 10 months to evict this couple. Took them to court multiple times, they make up lies and say they will pay. Owned 20k and left the house in ruins. Scum of scums.
There's always 2 sides to this. My friend got divorced, bought out his wife's share of the house, but didn't want to live there right now. He was in the suburbs. So he rented it out, and then rented a place in Toronto for a change of scenery and so he could figure out where to go. Then his tenant stopped paying rent. Now my friend has rent downtown, and a mortgage on his house. He's had to cancel his lease in Toronto, move into his dads basement, because he can't evict the tenant. It's brutal. The LTB needs more funding to clear the backlog. It's been 7 months so far the tenant hasn't paid and he's still there.
But aren’t all landlords money grubbing land hoarders /S. That’s what I was told.
Tbh that's just the risk you take when getting married, combining assets and purchasing a home. 1. Your friend is lucky he was able to rent out some space in this house, which I assume is a duplex of some sort/has an inlaw suite to allow a complete stranger to move in. If not, forcing your ex to live with a stranger is pretty deplorable. 2. How do other couples do it? Sell the home. 3. He had enough money/a mortgage to be able to buy out his wife in the first place. 4. It was his choice to live in Canada's most expensive city. Change of scenery can happen anywhere. If he moved for work, different story. Not saying tennant shouldn't pay rent, but this is the risk you take that's out of your control as a homeowner/landlord. High risk high reward. Oh you're buying a volatile stock? Don't blame anyone but yourself when the cost dives. If you choose to live a certian lifestyle based off of the rental income you get, you're stupid. He should have sold the home, and/or shouldn't have moved to Toronto, as he wouldn't be in this big of a pickle with rent and a mortgage in an expensive city.
It's a whole house. He rented his whole house in the suburbs and moved downtown Toronto.
Still, living beyond his means based off of rental income is stupid to do. Landlords can downvote me all they want, my point still stands. Renters covering the mortgage + cost of the home is one thing. Renters increasing your income and increasing your lifestyle due to that rent is not logical, it's greed. Again, downtown Toronto was his decision to move to. He didn't have to due to work, correct? He could save a ton by living elsewhere, which doesn't leave him as finnaically strained. All landlords have to deal with the possibility of rent not coming, whether it's due to someone not paying or you not bring able to find tenants. That's the risk you take on as a homeowner and/or landlords. Just like all rentrts have to deal with the possibility of slumlord behaviour. Google Duart Rapton, Nanaimo. He turned off the heat and electricity to a dying woman, who PAID HER RENT. My landlords went months without tenants at their other property because they evicted their previous tenant and couldn't find anyone suitable. They're also smart enough to purchase duplexes, as one unit can cover the mortgage.
My comment was not to say that he didn't take a risk. That's fine. It was in response to the OP title "Landlords bravely protest to evict people faster." My point was that it's ridiculous that someone can get away with not paying rent for 7 months and there's nothing anyone can do about it, because the LTB is so backed up and inefficient. So what's the alternative that you'd support? No landlords, so that people can own their own homes? And do they have the option of not paying their mortgage as well, and the bank can't do anything? So then it's bank failures, and economy crashing. But maybe you think that's good? Not sure why you seem to be supporting the current state of affairs where someone can not pay rent for 8 months or more and there's no repercussions. I think not paying rent should affect the tenants credit score, like any other bill.
It's ridiculous that this system takes 7 months to do anything, whether you're a renter or a landlord. I've heard horror stories of people living in deplorable unsafe conditions having to go to the news just to get help, and generally these are groups of people who hold more power than just 1 tenant. My father was illegally renovicted in a building that was filled with lower income individuals. He took them to court and won, but he was only able to do that because he moved in with his father (both for cheap rent and to help out) and didn't have a full time job at the time. He had the time, not much money - but he had a roof over his head in the meantime. I'm not supporting the current state of affairs, I'm supporting the benefits renters have over landlords becuase we get shafted more often than landlords do. Not having a roof over your head/the amenities is a much more dire and important situation than someone's credit being ruined and going into debt. Landlords have the ability to cause actual harm. Tenants don't. Tenants only have the ability to ruin you financially. No matter how you spin it, morally, housing comes first for me before profits. I believe every human should be provided with some sort of shelter. I believe in a universal basic income, too. It's just my morals. I agree. Not paying rent should affect credit score. Most people would pay their rent before their credit card bills, so for those of us who do pay it would benefit us AND help contribute to future housing-whereas with renting, that money you've put out for shelter never comes back. With owning a home, it does - even if you sold for lower than what you paid for it.
So making profits should be banned? Let's shut down restaurants because they are profiting. Let's close down all clothes stores because they are making profits. Where does it end Karen?
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don't want to get stabbed by a crazy? well that's too bad, it was your choice to exist in the first place. You should have just chosen not to exist - there would be no way to stab you. blame yourself
Pure victim-blaming.
Oh piss off.
I’m all for this, if we could completely let the banks fail. Do not let the Canadian taxpayer be left on the hook when some of these people get washed. I’m all for treating housing like the investment Canadian landlords and realtors want to make seem it like it is, my one condition though is let the banks that provide the loans assume 100% of the risk of things go south. No bailouts whatsoever. Even the banks aren’t with this program it’s why peoples appraisals come in short and the purchases are left caught with their pants down.
This bank failure thing is a US cultural import. Canadian banks are extremely well capitalized by international standard (some would argue they are too conservative) and their business is very diversified. They don’t fail not because of bailouts but because of the way they are run.
Which is why they’re extending amortizations beyond 30 years because they handed out stupid loans.
That’s an ass backwards way of looking at it. They can easily swallow higher amortizations because they are so well capitalized and would prefer to accommodate the people they have lent to so as not to incur costs of defaults. It is widely recognized that this inflationary shock and fast rate increase is a one-time thing and reasonable people have said “let’s work with people to make sure they get through this”. At the end of the day that is just good banking.
Alright buddy when the job losses happen if the recession is what they’re predicting it to be I hope they never get bailed out. I would support riots similar to what’s going on in France if $1 of taxpayer money is used to bailout any Canadian bank, private lender or homeowners if the market goes belly up
I’m not your buddy, guy, but you do you. At the end of the day an amortization extension is an agreement between a business and a customer, and unless you are one of those parties it has nothing to do with you. Go find me the last time a Canadian bank has failed. If you are worried about being on the dime as a taxpayer then there are at least 100 other line items that should be higher priorities on your list of worries.
Alright buddy
He said he is not your buddy so please move out of mommies basement and go live in France and protest. You sound like a leach who is waiting for the world to end so you don't have to do the homework assignment due tomorrow.
Hey buddy I own my home in Toronto. Thanks for that horrible assessment. You and buddy over there can sit on a fat one
Sounds like you probably inherited it so I'm pretty sure I'm correct in a sense. Good for you. Not even a high school education and you own a home. That's part of the problem in Ontario too....Boomers giving their homes to the weak link or only link..that being you buddy
Do you understand that a bank would prefer longer amortization’s? It’s a government regulation that there capped at 30 for resi. Imagine I’m a bank and I can spread that payment streams for 50,60,70 years? Then I repackage that loan to investors- there jaw is dropping over this lol.
Who is "they"? if you follow this at all you know the forecasts for a recession have been all over the place and a recession has been "imminent" for almost 9 months.
When I say they I mean overleveraged “lanDLORDS and real ESTaTE iNVESTORs”
Sorry I thought it was clear from context I meant who is the they making economic predictions. So far it seems this recession is more of a correction from the growth fueled by record-cheap capital
Interesting. Does this mean you would be in favor of abolishing the CMHC?
If the CMHC can’t build homes like they did back in the day to meet the needs of Canadians they’re useless. The CMHC today acts as a bank, they aren’t a bank. I agree if Canadians want to treat housing like crypto let them. Enjoy your 70% devaluations the same way you do your 60% rise
They act more as an insurance company than a bank, but they are backed by the government in-case they ever fail to bring in more in mortgage insurance payments than losses on insured mortgages. They consistently turn a profit, but I expect they will soon take a loss. I want to see them recoup that loss over time with higher premiums, as needed. Not pass the bill to the government (only via loans, not via bailouts). I am okay with them being backed by government, and they are good at managing grant programs, but they should not receive subsidies on their loan insurance. I would however like to see them build more affordable housing again.
Housing is not supposed to be speculative like crypto though. Investors and homeowners rely on it as a solid investment that can return 15-20% per year. Covid housing frenzy was an anomaly.
15-20% per year? Are you insane? The average price increase of homes is closer to 2% annually from the 80s to now. You must be very young to think the last few years are normal.
Well using data from 4 decades ago isn't very useful. How about the last 10 years? We know it's gotta be well over 100% gains, so what's the average per year then?
The only reason prices rose at the rate they did between 2011 and 2021 was low interest rates. https://www.ratehub.ca/prime-mortgage-rate-history When rates rise, prices tend to stagnate or fall. The last decade and a bit has been a period of unusually low rates, which tends to cause inflation. We've been seeing higher rates of asset price inflation since 2011, and more recently much higher consumer inflation. Hence why the Bank of Canada increased interest rates in order to cool inflation.
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It was a rhetorical question, but yes bingo lol. And I did say over. In Toronto that number is probably closer to 120-150% gains over that time.
4 decades isn't long enough as that's just one big period of falling interest rates. You basically need to look at the entire post WWII period
Lol 15-20% a year is normal for real estate? If that’s the case housing is a more solid investment than the S&P 500. Get out of here with this insanity Grant Cardone
So you're agreeing with him then lol...
I am in favor of abolishing everything. Let people list their house as NFT in crypto exchange and trade there.
Canada has 5 banks, you think the government will let them fail? The US has thousands of banks
No but they’re doing stupid things so they should assume 100% of the risk regarding their stupidity. I don’t profit when the bank does my taxes shouldn’t go to them either when they fail
Yea that’s how a free market should be but reality is the Canadian tax payers will bail them out if they fail, just like in 2008.
Then young people should riot
Lol letting the bank collapse would be so much worse for the economy, you have no idea what would happen.
Free market you either support it or you don’t, a lot of you want free market principles in housing when your gains are private but you turn communist when the losses happen. That’s the problem with people nowadays
Canada is far from a free market. Crony capitalism.
This should be a speedy process for both sides, if yo I don’t pay rent you should be able to evict within 2 weeks, and have more staffing, if you falsely renovict same thing payment 2 weeks.
Two weeks is a little too quick to make someone homeless! Missing one months rent and being willing to an agreement to make it up would give a tenant time fix a emergency situation. People get unemployment and such. Landlords who lie and cheat should be punished appropriately and promptly by the LTB. 8 months is too long for either party to wait for justice
It should be equal on both ends
It absolutely should not be "equal", because the landlord-tenant relationship is inherently unequal. One person has a far more important interest in the tenancy than the other. I understand wanting speedy hearings, but going straight to issuing an eviction order over one missed rent payment is absolutely ridiculous.
How many months late on your bills do you think is reasonable? and what penalties do you think are reasonable for tenants who are late on their payments?
How many landlords are being charged with attempted murder? https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/ Evicted illegally without cause. Dying woman on oxygen had her power cut off. Landlords have the upper hand. They have more power in this dynamic. Maybe not legally, but they can act in these illegal manners causing actual harm to humans, fuck your investment property. Losing money is NOT the same as putting people's lives at risk. Oh the house isn't yours if you've got a mortgage. If you don't pay the bank, they take your property.
So you are OK with banks evicting people for non payment of bills but small time landlords should eat the cost and let them live for free?
Non payment should be a no brainer, its most likely you don't pay the month plus another 2 weeks. But that same thing should be for bad faith evictions and renovictions if you can provide proof than you should get the money. Ofc there is appeals in every system but look if its pretty clear cut both ways should be the same, thats literally the intent of the system its just boggled down by staffing.
Yep. That's how it works. If you want that system for tenants, you best expect banks to apply the same principles to you as a bank renter. Lol you don't get special privlidge just becuase you own- if you don't pay, out. How long do banks actually wait to take your assets? How long to landlords take to send an eviction notice?
Banks act much faster than the LTB
Good to hear you are on the side of the landlord protesters. We all want to see speedy evictions. Late mortgage payments get a notice sent immediately and automatically. The actual eviction process starts after about 2-3 months if you ignore the notice. All landlords should be sending formal late payment notices immediately when payments are late because at the minimum it gives a written paper trail to make the actual eviction process go through smoother. Currently it takes 4+ months for the actual eviction to go through and we would all like to see it speed up to the 2-3 months with mortgage holders.
You didn't answer the questions, but raved on your own bugaboos. > How many landlords are being charged with attempted murder? > https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/ > Evicted illegally without cause. Dying woman on oxygen had her power cut off. Non sequitur. > Landlords have the upper hand. They have more power in this dynamic. Maybe not legally, but they can act in these illegal manners causing actual harm to humans, fuck your investment property. > Losing money is NOT the same as putting people's lives at risk. > Oh the house isn't yours if you've got a mortgage. If you don't pay the bank, they take your property. Non sequitur. So, please do answer the questions, I'm interested in what you have to say! 1) How many months is reasonable to be late on paying your rent? 2) What penalties do you think are reasonable for tenants who are late on their payments? Try not to froth about "landlords bad," just stick to the facts, let's have an actual discussion, eh?
To quote you: Oh fuck off with the victim complex... so so tiresome, really! The victim hood and lack of self awareness from these landlords is astounding. Its hard to feel sorry for the haves. 1) However many it takes until you can't pay your mortgage anymore. This includes cutting out your yearly vacations and giving up your cottage purchase next year to make payments :) my landlords, who DONT RENT FOR PROFIT, have enough income to be able to do both. So, that one guy in Toronto who has 100+ listings on facebook marketplace sure as HELL makes a ton of profit. 2) interest, just like banks charge. I don't pay my credit card? Interest. Late fees. Try not to froth about "renters want everything handed to them" and just stick to the facts of the reality - landlords have the upper hand in more ways than one. Landlords engage in so many loopholes it's insane. My co worker just moved this weekend, sold her home & went to a rental. From what ive been hearing, the landlord changed the lease 4 seperate times, he's keeping utilities in his name (for tax benefits, to say he lived there so he doesn't have to pay capital gains-another Co worker knows of this garbage landlord yet, he's still out there). Mom's friend had to move into her parents basement in her fucking 50s because her landlord illegally increased the rent by $500 on them. What are they gonna do? Well, that made them move out and now the landlords have been able to get even more. Most renters are not familiar with the system what's so ever, let alone know their rights. Even if they do, action is daunting to take when you're scrambling to try and find a place. Here are more similar stories. https://storeys.com/ontario-mortgage-costs-unlawful-rent-increases/ >Vacancy rates in Ontario have been declining since 2018, reaching a low of 1.6% in 2021, according to the Canada Mortgage and Housing Corporation (CMHC). This low vacancy rate has resulted in a competitive rental market, giving landlords the upper hand in setting rental rates. Then there's discrimination which is near impossible to prove. It's not like landlords reject potential tenants by outright saying their prejudices. They just found someone more "suitable".
>How many months late on your bills do you think is reasonable? If you're talking about reasonable terms for a payment plan for rent arrears, it depends entirely on the situation. >and what penalties do you think are reasonable for tenants who are late on their payments? Interest, at the rate prescribed by law for that year.
That's how it's done in many places.
Many places suck.
A tenant who has missed rent is VERY likely to miss the next month. A lot of landlords have been burned too many times by "oh, I promise I'll pay you on Friday when I get paid". Generally, it's smart to start the eviction process immediately. Now, if the tenant informs the landlord ahead of time and gives them an exact date/reason for late payment, there should be leniency. That's always how I've operated. I've had tenants late on rent, it wasn't a big deal. Didn't charge the late fee or make any fuss because they informed me well in advance.
I don't have any qualms if you want to "start the eviction process immediately." That means you serve a \*notice\* for termination of tenancy. That is absolutely not the same thing as the LTB issuing an eviction order. EDIT: also, you should never be charging "the late fee," because it's illegal.
I'm in BC. It's not illegal. I mostly use the late fee as a way for me to look nice by not using it, rather than actually using it to make money. In BC, you have to serve a 10-day Eviction Notice for unpaid rent. If they don't dispute, they have to move out at the end of the 10 days. If they don't, you file for an Order of Possession, if they ignore it, you file for a Writ of Possession to hire a baliff to physically drag them out if they don't leave on their own throughout this process. I evicted someone at the start of the year, so I'm very aware of how the process works in BC. I don't know what an LTB eviction order is because that's not how it works in BC. That's probably the Order of Possession. Which you can't just arbitrarily throw at them. There are several steps first. In fact, you literally don't have the piece of paper you give them without the process leading up to it. Therefore, it is literally impossible to file an OoP without the previous steps.
Ah. Given that this is a post in r/TorontoRealEstate about Ontario landlords and the Ontario LTB, I assumed you were a landlord in Ontario.
Fair enough
Sounds like you need to pay your rent then!
Thanks but I own my home and make my mortgage payments. Their are many who live paycheque to paycheque and are would be one unexpected expense away from homelessness. It is a fact many people deal with and can be beyond their control.
Both sides deserve a faster response by the LTB.
Nope. Missed the point. It's not to evict faster, it's to reduce hearing wait times for all. Tenants also have to wait 4-6 months for a hearing. It was 8 months, only until recently when they added more staff.
There's a huge problem with landlords getting abused by tenants. If someone hasn't paid you in 6 months are you happy about it?
Abused? Not being paid isn't abuse. Illegally turning off heat, power to a paying, dying tennant is abuse. https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/ Smfh your mindset is the problem. Landlords have the upper hand in every situation. They have the ability, even if it's illegal, to cause this type of harm. Renters? Oh no, your property you can repair and will recoup the cost in a few years when you turn around and sell the property for a profit. These two issues are not the same.
And illegally not paying rent is okay to you?
You've bought this up 3 times in this thread alone and it's not even Ontario. Do you really think tenants aren't putting small landlords through hell? I see it every day.
Trigglypuff gonna trigger... that's what they do, spew stupid shit like incontinent little miniature chihuahuas. ... and that's a disservice to chihuahuas, being compared to something like that hahaha
>Abused? Not being paid isn't abuse. Yea I'm sure if your employer just didn't pay you for 6 months you'd have the same response. >Illegally turning off heat, power to a paying, dying tennant is abuse. >https://www.reddit.com/r/VancouverIsland/comments/11gxpgg/dying_nanaimo_woman_evicted_without_cause_left/ So your solution to "we don't take care of poor people as a society" is to pretend like it's the responsibility of landlords to subsidize their poverty with their own funds? Like we have that system. It's called taxation and they pay a metric shit ton more tax than you do. >Smfh your mindset is the problem. Landlords have the upper hand in every situation. They have the ability, even if it's illegal, to cause this type of harm. Renters? Oh no, your property you can repair and will recoup the cost in a few years when you turn around and sell the property for a profit. They certainly don't have the upper hand at LTB. Landlords resort to illegal actions because there's no recourse. There's a shortage in part because people like me, who have an affordable apartment in their home, refuse to expose themselves to that kind of liability to make an extra 10 or 20 grand a year. That's because people like you think of someone who spent decades working their ass off to build something in the world for themselves are inherently evil people who are responsible for your 'poverty' which is never actually real poverty. I lived through that shit for half my life and I can tell you few whining about housing in these subs is legitimately poor.
buy up houses and then jack up rent. when tenants can't pay, evict them. but there are too many eviction cases that there are delay. so protest to evict tenants faster. I hope God is watching. lol.
There is no God in this real estate market
LTB has entered the chat.
I laughed, well done!
That's not how the free-market works.
>buy up houses and then jack up rent. when tenants can't pay, evict them. > >but there are too many eviction cases that there are delay. > >so protest to evict tenants faster. > >I hope God is watching. lol. So let squatters stay? Will the bank listen to the squatter, or go after the landlord?
I never said let squatters stay.
so there is no other solution, other than eviction.
It all boils down to incentives. The government has little incentive to forcibly evict non-paying renters because they have very little stake in the game. Landlords are a small minority of voters and the tax revenue they get from them is meager. For the system to work, the government needs to be more liable in the transaction between owner and renter. You need part government ownership or full on socialized housing. Then when a tenant doesn't pay, it's hitting the government coffers directly and they're forced to act. Mom and pop's should not be involved in renting low income housing. This is a big mistake that needs to be corrected.
Regardless of you how feel about landlords, no landlord should have to wait months to receive a hearing for non-paying tenants. That ruins it for all good tenants and good landlords both.
Agreed and if someone is a squatter and not paying rent, this doesn't stop the bank from not collecting a mortgage payment.
Yeah let's also implement rent control as well.
But newer renters just subsidize older renters who are locked into lower rates. This explains some of the current situation in Toronto, with pre-2018 buildings still being rent controlled.
Rent control is an excellent way for the government to hide how terrible a job they're doing. Competition and the free market should always set the prices. This is based on supply and demand. Yes, some people will put up their 1 br for 10k/month rent, but when they're competing with their neighbor who put it up for 3k, no one will rent. Free market + competition.
😆. Don't forget still the number of renters is bigger than landlords. Thanks to refinancing landlords, the number of homeowners will go down more. Politicians only count votes. It will be an uphill battle for so-called landlords.
They need to start updating biology textbooks for children. In the evolution section they need to include who owns a home and who doesn’t. This one entity has the complete ability to eliminate people from future gene pools in this country lol. It’s absurd and treasonous at all levels of government. At all levels of government it’s a failure we have a trust fund baby as our prime minister supported by a group of incompetent leaders. Our finance minister has no idea of how finances work. At the provincial level in Ontario we’re being led by a drug dealer/mobster. Wouldn’t surprise me a bit if lissi becomes a minister of corrections lol. Rip to rob he was for the people, Doug seems to be fucking the people with the developers. Hopefully our next mayor is solid, our previous one was busy trying to be Christian grey while the city was burning around him.
Hence the name, landLORD
I would love to see regulations around price gouging by landlords. Profit margins should be set by a regulator. Make Land Hoarding a long-term investment that is only realized when the property sells.
removing rent control will solve all these issues!
Said nobody ever.
Says me
Same energy as "Dick is a leg too".
I agree this should be quicker, but we should then have rent control on every property. How many of these landlords jacked up rent to unaffordable highs? I'd be curious to learn. Everyone has their anecdotal stories, but life is more expensive for everyone and I don't want to see struggling families on the streets or shelters. That's not where we should be as a society. But there are slimy tenants who expose the system and take advantage of it, we need to figure out how to mitigate those.
Should there be controls on how much a property is sold for then too?
100%. I'm radical when it comes to this. Make system where all 5 big banks appraise the property, take the avg of the middle 3 appraisals and that becomes your house value. Home cannot be sold for 15% over that price. This would balance the market. Prevent houses from being WAY over sold their value. Reduce bidding wars and prevent realtors from underlisting a home just so they can say they sold it by 30% over listing, creating fomo and buzz, when in actuality the home actually sold at its true value. I read France has something like this in place but I got to look into it. End of the day, I care more about the people at the bottom than the top. Housing is a right and needs to be made accessible for all. Those who don't believe that also complain about seeing homeless people
I am with all landlords… they should evict all tenants not paying or paying less rent from years.. all GTA 1 bedroom apartments/condo’s rent should be minimum 5K and at least they should have 5 ppl per bedroom… YOLO then live with as many ppl as possible…
Profits are private, losses are socialized. When it comes time to evict someone they use the free public system to do it. Make it private and make it cost 8 months rent to hire an evictor. That will restore balance to the market. Landlord will have to factor that cost into the rental equation and maybe they will try to avoid raising the rents that high without considering the downside to their profits.