Listed at $18 million, assessed at just over $4 million.
5x times assessed value for a tear-down, that sounds about right for something Helps would promote.
Posted 21 February 2019 - 10:15 AM
Listed at $18 million, assessed at just over $4 million.
5x times assessed value for a tear-down, that sounds about right for something Helps would promote.
Posted 26 February 2019 - 09:55 AM
This piece questions the alarmism of a recent CBC radio segment that the National Post claims used misleading data gleaned from a source with too small of a sample to be making claims on national rental rates.
The article also discusses how landlords, by and large, are not supplying as many rental units as they could be due to a system that is biased against them.
To the point identified in burgundy, government is directly competing with private landlords that not only face years of municipal wrangling, surging costs and obstacles to providing housing, they must then compete for tenants with government-backed, government-financed units that in many cases were fast-paced through the municipal process.
If rental accommodations are hard to find, it must be because enough people to fill them up are able to afford the rent. And if rents are “too high,” we should ask ourselves why greater supply isn’t forthcoming. In the market for rental housing, as in any market, if you want prices to fall, you’ve got to either reduce demand or increase supply. CBC wants all would-be renters to find the homes they desire, so in effect it isn’t in favour of reducing demand. The question therefore becomes: Why don’t more landlords supply more spaces for rent?
Think about it for a minute, however, and that question is answered with another question: Why would anyone in their right mind get into the apartment business? Think of the obstacles to making your money back. Restrictive zoning, comprehensive regulation, zealous activists, rent control, high property and income taxes, new proposals to tax wealth, direct competition from subsidized government housing, and so on and so on. Putting up an apartment building isn’t quite as hard as building a pipeline, but it is in the same ballpark. - https://business.fin...er-to-landlords
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 26 February 2019 - 10:56 AM
^ We discussed this very issue a few pages back. Most of these "polls" by online rental property aggregators are bogus. If you strip off the airbnb data (which they simply take the daily rate and multiply by 30), the sample sizes are so small as to be meaningless. If I recall, the data for Victoria only looked at 8 actual monthly rentals yet the article confidently claimed a percentage growth in rental rates. .
Edited by spanky123, 26 February 2019 - 10:56 AM.
Posted 26 February 2019 - 11:13 PM
I know I've mentioned we don't rent out our suite anymore and have taken over the space. I have to ask, unless you *have* to rent to offset your mortgage, why would anyone rent? We have had great tenants for years but it's different now. After all of our screening, there have been some challenges and now there is little recourse. I had to put out significant funds to repair the space.
Leaving BC gov provided notices on the door then "asking" for the damage deposit to help cover the damage? Renting is very risky for families.
Posted 27 February 2019 - 07:53 AM
Posted 27 February 2019 - 08:23 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 28 February 2019 - 11:34 AM
Posted 28 February 2019 - 06:46 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 28 February 2019 - 07:13 PM
The city of Portland has just instituted rent controls throughout the city. You are restricted to a 7% annual increase plus the CPI %.
Some people are happy others say it will restrict building of rental accommodation.
Might be interesting to watch what happens there.
Posted 01 March 2019 - 07:47 AM
The city of Portland has just instituted rent controls throughout the city. You are restricted to a 7% annual increase plus the CPI %.
Some people are happy others say it will restrict building of rental accommodation.
Might be interesting to watch what happens there.
Well at 10% (inc CPI) rent increase is still far more than the 2% we have here and would at least allow landlords a reasonable return on their investments.
Posted 01 March 2019 - 08:25 AM
My rental has been steadily getting more cash flow negative over the last few years. If it weren't for the massive asset gains I would have bailed a long time ago.
Posted 01 March 2019 - 08:30 AM
My rental has been steadily getting more cash flow negative over the last few years. If it weren't for the massive asset gains I would have bailed a long time ago.
And that is the way that most landlords think about their assets. According to the CMHC, you won't be seeing much in the way of an asset gain for the next 5 years though.
Posted 01 March 2019 - 06:16 PM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 01 March 2019 - 06:19 PM
Posted 01 March 2019 - 07:06 PM
You are aware that the cost of doing repairs can come off the gross income you declare when you file your taxes? Upkeep and repair of a rental property is an expense from your gross income.
You are assuming that people with basement suites declare that income. From the people I know with suites its very rare they declare the income, some even demand payment in cash every month so there is no paper trail.
Posted 03 March 2019 - 10:59 AM
Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.
Posted 03 March 2019 - 11:06 AM
the cfax guest was also disingenuous about the impact of the speculation/vacancy tax on his partner's vacant apartment. he knew it was not going to be applicable but he said he was still researching if it was. he lied.
Posted 03 March 2019 - 04:11 PM
...the backlash towards new housing supplies continues. If it’s not a government-funded project, several City of Victoria councillors will vote against housing. Using terms like luxury, or high-end, or out of reach, they work against the supply of housing under the guise that the new housing will make no impact on the rental vacancy rate, but measures like garden suites, clamping down on AirBnB’s and City of Victoria-built housing WILL. We’ve now seen the region’s rental vacancy rate triple over the last two years. Has this been forgotten, or does it simply stay out of the narrative as it complicates the politicization of market housing supplies?
This.
Posted 04 March 2019 - 08:24 AM
This.
Several Councillors have the view that housing should not be an privately owned asset.
Edited by spanky123, 04 March 2019 - 08:24 AM.
Posted 04 March 2019 - 08:28 AM
Several Councillors have the view that housing should not be an privately owned asset.
Then they need to run for much higher political offices, as there is absolutely no way this sort of decision should be made by municipal politicians,
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