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Victoria rental housing market and related issues discussion


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#1281 Matt R.

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Posted 13 November 2020 - 11:58 PM

Oh yeah, people will rent as they search for a home to buy, or to decide on a neighbourhood when first moving to a new city. But renting long-term while owning a home in the same city is not common. Nothing wrong with it, just not a scenario you encounter a lot.


We did it for more than four years.

Matt.
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#1282 Redd42

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Posted 14 November 2020 - 12:51 AM

I live in an over 1000 sq ft suite in south Oak Bay in one of the big heritage houses but was renovated within the last ten years. It has a lovely private view over the newer houses next door. I pay less now for my rent then I have seen advertised for one of the sky boxes downtown that are about 400 - 600 sq feet. If they stratified my house, this suite would likely be a million or more. I could not afford to buy it. But I can afford to rent it. Because I mentioned, no rent increase in 6 years.

 

And I rent out the boring 80s condo that I own that doesn't even have its own laundry.

 

Quality of life vs trying to build as much equity as you can. Lots of life choices.


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#1283 Mike K.

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Posted 14 November 2020 - 07:11 AM

We did it for more than four years.

Matt.


Living in the restaurant doesn’t count!
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Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#1284 VIResident

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Posted 24 November 2020 - 02:10 PM

Vancouver proposes property tax hike as COVID-19 digs revenue hole

The draft operating budget for 2021 is $1.6 billion, $17 million less than the original planned budget. 

(Budget is set to come down on Dec.1/20)

https://www.theglobe...s-revenue-hole/

 

So that's Vancouver right? We don't care right? 

(Pay attention to what the CRD office budget is & the muni you live in - then add all the other 12 muni budgets together with the CRD and see what that total is - compare to Vancouver and the total  population)


Edited by VIResident, 24 November 2020 - 02:13 PM.


#1285 Mike K.

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Posted 24 November 2020 - 02:17 PM

What’s Victoria again? $250 million?

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#1286 Nparker

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Posted 24 November 2020 - 02:18 PM

Vancouver proposes property tax hike as COVID-19 digs revenue hole...

But if you're the City of Victoria, keep spending like everything is hunky dory.



#1287 VIResident

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Posted 24 November 2020 - 05:30 PM

  1. Total population of the entire island as of 2019 870,297 
  2. Total population of Greater Vancouver area had a population of 2,463,431 in 2016

What is the population of Vancouver

What is the population total of South Vancouver Island

 

Overall, on a CRD and related entities consolidated basis, the combined 2020 Preliminary Financial Plans amount to $333 million in operating and $411 million in capital, a total of $744 million in combined expenditures.Oct 30, 2019 https://www.crd.bc.c...ed expenditures.


Edited by VIResident, 24 November 2020 - 05:32 PM.


#1288 TwilightZoneVictoria

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Posted 08 December 2020 - 09:27 AM

Still noticing lots of 1 bedroom vacancies being advertised in apartment buildings. Don't recall so many this time in previous years, usually the bump is in May.



#1289 Victoria Watcher

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Posted 12 December 2020 - 09:50 PM

Tenants fighting eviction notice for Cook Street apartment building

 

A group of Victoria tenants is fighting a mass eviction that they say is unfair during the pandemic.

 

In October, tenants at a 21-unit, three-storey apartment at 805 Cook St. were given notices saying they had to move out by Feb. 28 so the owners can do renovations.

 

“It’s been really devastating,” said Tom Kershaw, a 72-year-old who has lived in the building for nine and a half years. “It’s just been overwhelming, the stress.”

 

 

Kershaw pays $590 a month for a ground-floor bachelor suite and would likely have to pay double that for a new place. “We’re looking at a zero per cent vacancy rate and we’re in a pandemic,” he said.

______________________________

 

Hanson said she was told by a previous building manager there’s no asbestos in the building, so she doesn’t think the building needs to be vacant to do the necessary repairs. The onus is on the landlord to prove to the Residential Tenancy Branch that the renovations cannot be done unless the building is vacant. According to the eviction notice, the landlord is Donald McInnes.

 

The building was purchased in November 2019 for $4.3 million, according to land title records. Reached by phone at the number provided on the notice, McInnes hung up when asked about the eviction. He did not respond to a follow-up text.

 

 

 

 

https://www.timescol...ding-1.24254099


Edited by Victoria Watcher, 12 December 2020 - 09:51 PM.


 



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