Doug Ford looks to end rent control
- Thread starter Shaquille Oatmeal
- Start date
There is no data to say they are outlier cases, and the courts are still jammed, that is a reality. It just adds another negative to the already marginal business of rental housing.
Its not the court backlogs, though that caused 3,000 people accused of crimes to be let free in the last year.
Its the Landlord Tennant Board, the waits there last up to a year, with only corporate landlords getting preference.
you need data to prove they are outliers, if not you have no ide how much of this shit is happening. In any case there is little rental housing being built so that means its a shitty business in its current state.
If you have no idea of how much of this shit is happening, then a) you cannot make the claim that it is a big issue and b) it means it isn't happening that often. We'd hear about it if it did and we'd have the data.
I hear from both sides, I know people selling because its hard to get rid of tenants. A friend had to pay $10k to buy out renters to sell their house. Another is selling a house because you can't get rid of bad tenants. On the other side the LTB is greenlighting big rental increases from corporate landlords while keeping a massive cue of mom and pop landlords on hold, with those landlords getting screwed.
DoFo backs these corporate types on every file, in this case it means that housing is no longer a safe investment for the average canadian, like squeezer. And renting is no longer safe for the people, you get no protection as well. Which makes it easier for corporate buying of apartments and housing.
That sounds like it's less about the law - which is fair and balanced - and more about Duggo under funding and under staffing the LTB.
This is the first post in this thread that I can agree with, except for the reference to me. I am in the market for a great deal on a couple of condos.
Finding the right tenant is paramount because, yes, it does happen when tenants decide to use the perks of a lazy, understaffed LTB.
Tenanted units are also very difficult to sell, as buyers are often leery of a tenant who doesn't want to leave.
the fact that its happening and the stock of properties lying empty indicates there is a big problem with rental viability in Ontario. Would you spend 500K+ on a property and sign over your rights for a promise to pay 2K a month? Yielding a piddling 12K a year in profit not including interest? A princely 2.4% yield?
Corporations should not be allowed to buy rental stock unless its 1) already a building owned by a corp that is a rental building, or 2. They construct dedicated rental housing. No one should be allowed to own more then 3 single family home in one city and tax disincentives should be passed to this effect.
Rental reform needs to come. Property taxes and maintenance costs for landlords have shot through the roof. It's difficult to get rid of non-paying/bad tenants. Nobody is building new multi-res rental housing because you currently can't make any money on it (sky high development charges). The public sector (Toronto Housing) is the worst landlord of them all in terms of building maintenance and management.
You need the private sector to fix the housing shortage, so you can't just sit there like an obstinate 3 year old and refuse to address the reasons why no one wants to be in this business in Toronto.
You need the private sector to fix the housing shortage, so you can't just sit there like an obstinate 3 year old and refuse to address the reasons why no one wants to be in this business in Toronto.
DoFo will back a Blackstone taking over Ontario, all the need to do is send him the cash.
The feds kept having to bypass DoFo for housing.
DoFo's record on housing is the worst in the country.
He did the same thing last time Trudeau gave him healthcare $$
Why spend money on providing services when you can just spend a few million on ads and squeezer et al will vote you in?
Mail out from the NDP today.
They are going to go ape shit counter attacking on this issue and they are probably correct, both tactically and ethically.
But the idea is that the rental covers the mortgage and other charges, while your equity soars and in a couple of years you unload the unit on another investor for a 6-figure profit. Right?
What's killed the market is that the prices are no longer bubbling up by 6 figures per year, but are sagging and falling.
You can probably get 2.4% from your investment advisor. But what you can't get is your unit being flipped for an extra $200k after you hold it for a couple of years. When that profit margin no longer exists, you may as well say "fuck the hassle" and simply toss the money to your finance bro / gal advisor.
Squeezee don't give a shit about dem ads from Thuggo when pondering who to vote for,.
Da only thing Queasy Squeezee appears to care about is which candidate can and will stuff da most $$$$$'s in his pockets and to heck with the rest of Ontarians!
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