1896 replies to this topic

[Bingo]

^ yep. There is no valid argument for interest to be charged on deposits right now.

Well someone is making interest on your money and who do you think it is? 

[lanforod]

Well someone is making interest on your money and who do you think it is? 

 

Sure, the landlord is making a tiny sum on it. Most probably just have it in a cash account, or low interest account. We are talking tens of dollars here, it's part of the cost of renting.

[VicHockeyFan]

The landlord also pays banking fees, that probably constitutes much more than $10/year, at least part of which they can attribute to handling the tenants rents and deposit.

[Nparker]

Another "the sky is falling" "let's not become Vancouver" "condos are not homes" letter in today's T-C.

...In a market with a one per cent vacancy rate for rental units, the current mayor and council need to stop encouraging condos, and instead call for a condo moratorium. Victoria needs more affordable rentals, not condos...

http://www.timescolo...orium-1.2548434

Do these people work from a script as I am sure I have read this exact letter before.

[aastra]

Methinks the writer is conflating a few different issues. Doesn't it seem odd that in 2016 someone would think new rental buildings somehow represent the enlightened alternative to becoming a towering metropolis? I guess we've forgotten the 1960s and 1970s already? You know, when Vancouver became a towering metropolis in large part because of all of the new rental buildings that were built in the west end? And when Victoria was going the very same route with buildings like Orchard House and View Towers and the rest until it changed course and cracked down? Does the writer not realize that the two new condo projects he mentions are both lowrise projects? Whereas several of the new rental projects are highrises?

[aastra]

FYI, I'm not disregarding the writer's concerns. I just find the jumble of contradictions and inconsistencies to be very curious. The forces of eternal opposition tend to trade on the same confusing stuff.

[VicHockeyFan]

http://vancouverisla...pment-1.3157593

 

A proposed development in Victoria’s Portage Inlet has neighbours fearing the project could have devastating results for the area.

 

Christie Point, a rental housing complex along a stretch of the Gorge Waterway, is generally described as low-lying and unobtrusive by residents.

 

But Toronto-based developer Realstar has plans to redevelop the area to expand it from 161 into 520 rental units.

 

 

 

“It will appear that you have a solid wall seven storeys high from the beginning of this property right to the end,” said Terry Eckstein, president of the Portage Inlet Protection Society.

 

Eckstein said he was shocked when he saw Realstar’s plans for the area, which would be built in phases.

 

Management for Realstar confirmed the proposal does fall under guidelines set forth by View Royal.

“The density proposed is actually at the lower level of that contemplated in the Town of View Royal’s official community plan,” said Heather Grey-Wolf.

 

[LJ]

I've been out to that Christie point area and it looks like a location you could put some high end condo/townhome units in. The ones that are there now seem at the other end of the scale.

[VicHockeyFan]

I've been out to that Christie point area and it looks like a location you could put some high end condo/townhome units in. The ones that are there now seem at the other end of the scale.

 

Ya, I've said that for years.  If the Gorge did not stink sometimes, if would be great.  Oh, and if you could drive jet-skis there too.  The best thing would be taking your jet-ski to work downtown every day.  That reminds me, whatever happened to Stockwell Day?

[Nparker]

I never cease to be astounded by the conflicting mindset in this city. Every day we hear stories of the affordable housing crisis, yet each time a proposal comes along that will add to the city's limited housing stock it is met with opposition. Increasing the accommodation supply is the ONLY reasonable way to ever achieve any sort of balance in the housing market. Why is this so difficult for so many in our community to grasp?

[dasmo]

The Gorge is great. Any other city would have density along it. Works some waterway restoration and a pedestrian walkway into the proposal and it would be unstoppable....

[sdwright.vic]

So my other half and I rent. Our income allows for more budgeting on rent, so if more higher end stuff hits the market, we like others will upgrade, opening less expensive units.

[Bingo]

I've been out to that Christie point area and it looks like a location you could put some high end condo/townhome units in. 

 

That area is home to rare Olympic oysters. Won't somebody think of the oysters?

http://www.viewroyal...ml?media=mobile

[VicHockeyFan]

That area is home to rare Olympic oysters. Won't somebody think of the oysters?

http://www.viewroyal...ml?media=mobile

 

The plan is to build only on the existing footprint.

[VicHockeyFan]

Why is this so difficult for so many in our community to grasp?

 

Oh, I think they grasp it.  But they'd like the increased density somewhere else.

[Nparker]

But everybody wants it somewhere else.

[DavidSchell]

Where is the best place to list a 1 bedroom suite for rent in Fairfield ... I was thinking Craigslist?

[Mike K.]

A new landlord registry is on the horizon in British Columbia. LandlordBC's Landlord Registry will educate landlords on provincial rental housing rules and regulations, and provide tenants with a database of landlords committed to LandlordBC's I Rent It Right educational program offered as a mandatory component of the Landlord Registry.

 

BC Landlord Registry to educate landlords, provide resources for tenants

http://victoria.citi...es-for-tenants/

 

Described as the first of its kind in North America, British Columbia’s rental housing advocacy organization LandlordBC is set to unveil a comprehensive landlord registry and education platform this January.

“The goal with LandlordBC’s new Landlord Registry is two-fold,” says LandlordBC CEO, David Hutniak.

“One is to give landlords a tool by which they can learn the Residential Tenancy Act, learn and respect tenant rights and learn about their rights. The second is to give tenants the opportunity to assess whether their next home is managed by a landlord committed to the Residential Tenancy Act and the principles of our mandatory I Rent It Right education program offered through the Registry.”

The initiative, Hutniak says, is focused mostly on small and independent landlords who may be unaware of the extent of their obligations and those of their tenants. [Full article]

[snub]

So, 22 years ago we still had this problem. Rents have almost doubled, while the price of a house has tripled or quadrupled.

 

 

 

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[Mike K.]

Victoria rental rates to rise in 2017 as new housing inventory fails to satisfy demand

http://victoria.citi...satisfy-demand/

 

Monthly rental rates for greater Victoria and southern Vancouver Island apartments are expected to spike in 2017, according to sources familiar with Victoria’s rental housing market.

Rising construction costs and severely depressed housing inventory have created a scenario where demand for real-estate, be it market condos or purpose-built rental apartments, is far outpacing available supply.

"Purpose-built rental housing remains the most secure and affordable form of rental housing.  However, despite a steady stream of purpose-built rental units coming onto the market over the next several years, present-day renters searching for homes are finding the situation to be frustrating both in terms of availability and cost," says David Hutniak, CEO of British Columbia's rental advocacy group, LandlordBC.

Rental rates for upper-end, newly completed purpose-built apartment inventory in downtown Victoria and periphery areas are expected to break above $2.70 per square foot (per month) and in some cases reach beyond $3. Those rates translate into newly-built one-bedroom apartments renting for $1,350-to-$1,650 per month, a jump from $1,200-to-$1,450 in the present-day market. Landlords have also been given the go-ahead to raise rents for existing tenants by upwards of 3.7%, the highest yearly rate increase since 2012. [Full article]