1451 replies to this topic

[tjv]

I was pretty sure its a scam, but with Sebbery's post its definitely a scam

[spanky123]

Perhaps not the best place to try, but looking for advice. Looking for a new place to rent in or close to town, I've been responding to ads on Craigslist and UsedVic.  One in particular is a condo in the Duet in James Bay; the response surprised me:

 

 

 

I'm slightly put off by some of this - electronic payments, absentee landlady. Does this sound legit, or possibly a scam?

 

Rent by etransfer is not unusual as long as it is not requested up front or without proper documentation. I read the renting not increasing part as the rent would not change whether you wanted the place furnished or unfurnished not that it would not ever change period.

[rjag]

Daughters boyfriend is looking for a rental in Munich while he does his Masters and came across the same style of ad over there. Its prolific

 

http://www.youtube.c...h?v=ovNHBEfTO_8

 

This video is a good laugh at these scams

[Jackerbie]

I'm slightly put off by some of this - electronic payments, absentee landlady. Does this sound legit, or possibly a scam?

 

It's the "too good to be true" part that makes it a scam. I spent my two years in Montreal sending eTransfers to a landlady who was living abroad. I think I met her once more than a year after moving in! 

[dasmo]

You should definitely give them all your passwords and SIN number....

[tjv]

Anyone who wants money in advance of actually physically seeing the residence is a scam.  

[sebberry]

You should definitely give them all your passwords and SIN number....

 

But my passwords ARE my SIN number...

[Casual Kev]

The sad part is that even an obvious convoluted scam probably ensnares at least a few victims, considering the ultra tight rental market.

[grantpalin]

B.C. Rental Housing Task Force recommends cutting annual rent increase cap

 

The recommendation is to abort the recently announced rental increase limit of 4.5% and drop it to just inflation - 2.5%. Appealing for current renters in the near term, but may cause landlords to price higher for incoming renters.

The move, recommended by the B.C. Rental Housing Task Force, would do away with the current calculation that allows landlords to charge their tenants annual inflationary increase plus an additional two per cent top-up.

 

Earlier this month, the Residential Tenancy Branch set the maximum allowable rent increase for 2019 at 4.5 per cent, the greatest jump since 2004. Coming a time when vacancy rates are at an all-time low and rents are already high, the news caused a stir on social media.

 

The task force is recommending to government that they change the maximum rent increase formula, from the current formula of inflation plus two per cent to inflation only (2.5 per cent in 2019).

 

To ensure landlords can afford to maintain their buildings, they will be able to apply for additional rent increases to cover the cost of work they have done, said Spencer Chandra-Herbert, task force chair and NDP MLA for Vancouver-West End.

 

 

Doesn't do a thing for the supply issue.

Edited by grantpalin, 24 September 2018 - 12:10 PM.

[Mike K.]

Good lord.

The party’s desperation is starting to show. Artificially scaling back the rental increase will cause undue hardship down the road, as you say.

[Victoria Watcher]

it will also discourage new rental builds.  maybe the increase should be pegged to the property tax increase then the province can simply blame the municipalities.  

Edited by Victoria Watcher, 24 September 2018 - 12:25 PM.

[spanky123]

Even better, Vancouver has determined that their problem with affordable housing is that back in the day someone decided it should pay for itself. With that stupid rule off the table then housing prices can be whatever politicians decide they need to be with any shortfall being covered by the property taxes of those who own.

 

https://www.theglobe...rdable-housing/

[spanky123]

Good lord.

The party’s desperation is starting to show. Artificially scaling back the rental increase will cause undue hardship down the road, as you say.

 

It will result in people selling their buildings if they cannot make money. No problems, lots of people from Ontario and the mainland flush from selling their own houses would love to buy here.

[Awaiting Juno]

Seems unwise as the general rate of inflation likely bears little resemblance to the actual increase in costs faced by landlords who are providing the rentals.  Landlords are not running charities or non-profits and if they can't get a reasonable rate of return will shift their portfolios to something that will give them a reasonable rate of return.  This may even result in more rental buildings being stratified and sold off - which might be good for those who wish to buy a unit, but is not so good for those who wish to remain renters for whatever reason.  .  

[Bob Fugger]

 

 

To ensure landlords can afford to maintain their buildings, they will be able to apply for additional rent increases to cover the cost of work they have done, said Spencer Chandra-Herbert, task force chair and NDP MLA for Vancouver-West End.

 

BAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA.

[Jackerbie]

Seems unwise as the general rate of inflation likely bears little resemblance to the actual increase in costs faced by landlords who are providing the rentals.  Landlords are not running charities or non-profits and if they can't get a reasonable rate of return will shift their portfolios to something that will give them a reasonable rate of return.  This may even result in more rental buildings being stratified and sold off - which might be good for those who wish to buy a unit, but is not so good for those who wish to remain renters for whatever reason.  .  

 

Can't stratify an existing building without municipal approvals. If anything, will result in more demolitions.

[spanky123]

Can't stratify an existing building without municipal approvals. If anything, will result in more demolitions.

 

Or having "low margin" rental specialists like Robin Kimpton buying them up :-)

[Casual Kev]

I doubt there'd be that many new rentals coming up if they were limited to inflation increases, and their base price would be even higher. In Ottawa, the province of Ontario has that inflation cealing and basically no one builds new rentals in the city; almost everything new is either stratas or SFHs. There isn't quite a renter crisis over there only because there's a metric **** ton of stock built between the 50s and 70s. In Toronto the new towers are also pretty much all condos and renters have it just as bad as their BC counterparts market wise.

Doesn't seem like anyone wants to think about the builders or the landlords bottom line, it's either NIMBYism, luxury dev rent seeking (ha) or poverty activism.

[tjv]

You would be stupid to invest in rental real estate these days.  ROI's are pathetic right now as it is, this just made them smaller

 

I think as a house owner I should demand the government limit my mortgage renewal increase to 2.5% as well.  Fair is fair after all

[rjag]

You would be stupid to invest in rental real estate these days. ROI's are pathetic right now as it is, this just made them smaller

I think as a house owner I should demand the government limit my mortgage renewal increase to 2.5% as well. Fair is fair after all

Imagine property taxes limited to inflation?