You get two trailers for 1M. What's the issue? Only partially kidding. Full basement is nice but such a weird layout on the main floor.And this one HAS to be a joke...
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COVID and the housing market
- Thread starter mimico_polak
- Start date
For one...it's not beach front. It's close...but not beach front. The lot is tiny, the house is tiny, it's at a very busy intersection.
Walk past it every time we walk to the beach from our cottage. But hey...hope they get it.
There's another one in Wasaga that's close to our cottage...always liked this one, but it's on the main road.
I kind of like that. Quirky and cottage and not ruined by flippers yet. Some weirdness though.For one...it's not beach front. It's close...but not beach front. The lot is tiny, the house is tiny, it's at a very busy intersection.
Walk past it every time we walk to the beach from our cottage. But hey...hope they get it.
There's another one in Wasaga that's close to our cottage...always liked this one, but it's on the main road.
Bathroom/laundry room/alternate kitchen
Priller
Well-known member
Bathroom + laundry? Sure! Kitchen + laundry? No problem! Bathroom + kitchen? No f**king way, get outta here, WTF is the matter with you?I kind of like that. Quirky and cottage and not ruined by flippers yet. Some weirdness though.
Bathroom/laundry room/alternate kitchen
@mimico_polak If you're serious about buying a rental, it might be worth sitting tight until the LTB is fixed. Right now, small landlords are getting royally screwed by endless delays:
https://www.cbc.ca/news/canada/ottawa/ontario-landlord-tenant-board-wait-problems-collapse-1.6605631
At least know what you're getting into. A buddy is sitting on a house with no rent for going on 10 months, and thought he had finally won eviction when they didn't show for the hearing a few weeks ago. They subsequently said they missed the notice, and the board awarded them a stay and he had to schedule yet another hearing (since when do courts work this way?). I get there are plenty of scummy landlords out there, but right now the system in Ontario is complete insanity and seems only to succeed in screwing anyone not horrible. Unless you're willing to work outside the law and break heads, you may be stuck with equally scummy tenants.
Added to the unpaid rent, he's had to pay their hydro bill because it's his name on the ownership, and after they cut off the gas, the tenants broke the lock to turn it back on. If they blow up the neighbourhood, his insurance won't cover. Similarly. he's been told by neighbours that they're likely cooking meth, which is also not covered if they blow themselves up. He also got a call from a bylaw officer telling him he had to go and clean up the yard due to a public hazard, but he's also been told not to enter the property until the eviction hearings are complete.
This is obviously bordering on a worst case scenario, but something to be aware of...
@Priller thanks for that! I was actually a landlord for a decade straight and have fairly good experience. My tenants were awesome, but my cousins went through a horrible tenancy and trying to get them out.
I’m keeping my eyes open…but the banks may have a different perspective compared to what I want.
I’m keeping my eyes open…but the banks may have a different perspective compared to what I want.
Your a teacher LOL , when aren’t they all off ? And talking strike ….
I tease …. Sort of…..
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ifiddles
Well-known member
@crankcall well considering there's no more masking (it's optional for staff and students), no more testing or reporting (so we no longer know if a student has Covid or just a cold or flu) and kids can return after 24 hours (no negative test required and if they are positive no need to isolate as long as their symptoms don't get worse and they have no fever), it's no wonder people get sick...
As for strikes, teachers are nowhere near that stage...CUPE is asking for 11.7% increase (which I personally think is way too much) and the government is offering 2% (which I think is way too low)...the EAs, ECEs, custodians and support staff make peanuts and they deserve a lot more...I see first hand how hard their jobs are, and I certainly would want a better salary...
As for strikes, teachers are nowhere near that stage...CUPE is asking for 11.7% increase (which I personally think is way too much) and the government is offering 2% (which I think is way too low)...the EAs, ECEs, custodians and support staff make peanuts and they deserve a lot more...I see first hand how hard their jobs are, and I certainly would want a better salary...
Priller
Well-known member
Fair enough, just wanted to highlight that Covid logjammed an already busted system into total failure. What used to take a few months now takes the better part of a year, and if your bad tenants are clever and get a sympathetic arbitrator, they can extend that a lot longer with a selection of delay tactics...
Like so much of this stuff, if people just put half the effort into an honest days' work as they did into scamming and stealing, they'd be a lot better off...
My experience with material sales folks, uh I mean, "Business Development Managers", is that many struggle to put together a 20 hour work week and can't be arsed to return phone calls...
I tease.. Sort of...
How much should a person make?
Nurses and doctors keep us alive so pay them well. However without carpenters, bricklayers, plumbers and electricians we'd be alive but living in caves or under fallen logs. We'd starve without farm workers and truck drivers. Pay them well. Garbage workers and cleaners keep down disease so pay them well. Teachers keep us from regressing into the dark ages so pay them well.
What lifestyle should a person expect to afford for their efforts?
Should a cleaner, through political pressure or strikes, be able to afford an executive house with pool, hot tub, luxury car, cottage and exotic vacations?
Once a worker has been fully trained and working at capacity, being rewarded fairly for that, why do they deserve more than COLA?
We all want more stuff but if our input to the system doesn't go up why it it assumed our buying power should increase?
I believe in a living wage but does a person deserve one if they only want to work a day a week at an unskilled job?
The answer is that goods go up in price above COLA so they should be controlled as well. Ooops wage and price controls, How did that work the last time?
Yours truly,
The unofficail forum curmudgeon.
P.S. How much of a wage drop would you settle for if you were guaranteed security and reduced stress from all angles?
P.P.S. Is there an association for non-union, non visible minority, non special needs, non historically oppressed, non abused, non religious individuals? I can't help but feel the aforementioned makes me a candidate for being special. An association for anyone unable to join an association.
Mad Mike
Well-known member
This is a story that often gets attached to inexperienced or greedy landlords (not accusing your buddy). I remember my first rental, I listed a small house at the high end of rents in in a lower end hood. 10 or so applicants willing to take the place, none made me feel comfortable. My partner suggested lowering ghe rents by $200 to attract more applicants. Got about 50 applications, many stable income earners with decent credit and jobs. Selected a bank manager who wanted a 2 year lease from a pool of 10 well qualified renters. They stayed 3 years, retired back yo Halifax without missing a payment.
I use the same tactic on our northern properties and I've never been stung.
Dirtbag renters seek out greedy landlords. Then punish them. Sadly this us a common occurrence.
No amount of due diligence can catch a determined scumbag willing to lie cheat and steal. You improve your odds but may still get a stinker. There needs to be an efficient system in place to deal with those situations. We would probably be better off with no ltb than the current implementation. Sue in civil court, get a judgement and bailiff to enforce. It would be much much faster.
Priller
Well-known member
Inexperienced yes, greedy no. He purposely listed lower than market in the hopes of getting a long-term tenant, wanting to avoid the cost in time and money to relist every year or two. He also hired a company to help vet them and check references, which is I suspect where he went wrong, as they happily took his money and put in minimal effort. The references, both job and previous landlords, are likely fakes, including forged pay stubs. My guess is they didn't bother to do a credit check, which probably would have come back with a different story, but it's hard to say...
The other factor is that the original tenant has since allowed a number of other truly scummy folks move in, including people whose criminal activities have been violent and extensive enough to get their picture in the newspaper. The mindbending part of this to me is that the landlord has zero power to remove these people without going through the LTB. Everything goes through this broken system, no matter how violent or illegal, and as a landlord, you have to sit back and wait.
Incidentally, the police reports coming back from various activities in the house would be hilarious if it wasn't costing him so much money, including police called because one of the sublease tenants used bear spray to force another subtenant to leave a room, stolen cars left out front and then subtenants arrested in the house for the theft (criminal masterminds, obviously), and foot chases starting at the house that end with people being arrested after climbing a tree in the local park. The area isn't great but isn't horrible, and so my buddy gets a constant stream of texts from the neighbours updating him on the comings and goings.
He did speak to one cop who was on the drug squad and staked out the house in hopes of catching the drugs coming or going (apparently the limit of their power), but he got transferred to a different unit and nobody else took over so any policing just stopped (this despite suspected meth production happening in the house!) This cop said the best he could do was testify as to the the goings on at the second LTB hearing which is to apply for eviction based on criminal activity rather than unpaid rent. This also highlights how busted the LTB system is, as each gets heard entirely separately.
Anyway, don't mean to bang on about it, but the weekly stories of how torturously slow and inefficient the justice process is just boggle the mind. Even after he eventually gets his eviction to stick at the LTB, they still have approximately 6 weeks to do more damage without consequence (small claims court? LOL) until the sheriff bothers to show...
There are ‘Rate my Landlord’ type sites I’ve seen and when I was renting I actually had wanted to start a ‘Bad Tenant’ registry. We were 5 different landlords sharing a common parking lot. We all got a long but I was warned not to keep such a registry public.
So all it took is a phone call ‘have you heard of this and that guy?’. And I think it helped save a few headaches.
Lots of bad tenants around, but some landlords are no better. Sucks for your friend and I know a few people that had horrible experiences. Sometimes it comes down to luck and nothing more.
I still remember a few guys coming for a place and wanting to rent….yes this is what I need. Skinheads with swastika tattoos on their forearms.
‘Someone else got the place. Guess ViewIt forgot to remove the listing.’
Hardest part was figuring out how to tell someone they didn’t get the unit as you had to be careful with your words.
EDIT: one of my neighbours rented out his house to a professor and doctor couple. Older bunch etc. all seemed good.
Except the fact that they would breed birds inside the house and ruined the interior within a few months. Locked themselves out once. Instead of going to the neighbour where they were told the keys were (200m away) it was easier to kick in the door. You never know what a person is like until it’s too late.
So all it took is a phone call ‘have you heard of this and that guy?’. And I think it helped save a few headaches.
Lots of bad tenants around, but some landlords are no better. Sucks for your friend and I know a few people that had horrible experiences. Sometimes it comes down to luck and nothing more.
I still remember a few guys coming for a place and wanting to rent….yes this is what I need. Skinheads with swastika tattoos on their forearms.
‘Someone else got the place. Guess ViewIt forgot to remove the listing.’
Hardest part was figuring out how to tell someone they didn’t get the unit as you had to be careful with your words.
EDIT: one of my neighbours rented out his house to a professor and doctor couple. Older bunch etc. all seemed good.
Except the fact that they would breed birds inside the house and ruined the interior within a few months. Locked themselves out once. Instead of going to the neighbour where they were told the keys were (200m away) it was easier to kick in the door. You never know what a person is like until it’s too late.
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DownUnder
Well-known member
People can surprise you. Was a landlord for a long time back home and always had proper realestate agents handle my properties.
I remember my very first tenant was a 30 something yo single mother with 4 kids... when the realestate agent gave me her application I gave her a funny look, she smiled and said something along the lines of "this lady has been divorced for 6 years, has 4 kids, a stable job and has managed to keep herself off the realestate Blacklists, trust me".
One of the best tenants I've ever had, never missed a payment in the 3 yrs she stayed and the house was always immaculate on the 6 monthly inspections and at the end. Only reason she left was because she had saved enough for a deposit on her own home. I never raised her rent either, even though the realestate recommended it each 12 month lease period.
Still blows my mind you can't have tenant Blacklists in canada.
48Connor
Well-known member
I don't know the whole truth because I heard the story through the guys brother, but this guy rents out his old house in Toronto to a single mom + 2 kids back in like 2012 or 2013. Doesn't raise rent since cause its a single mom and wants to be nice. Over time her parents move in, and then her boyfriend, and then her ex-husband cause hes sick, so now up to 7 people in a 3 bedroom house with 1 parking spot. Covid happens and all rent checks stop. Housing market is high and after not receiving rent in 18 months, he says screw it I'll sell the house, you have to move out. Obviously they don't, so it goes to the LTB, whos says that "their need to stay in the house exceeds your need to sell the house". He appeals and lost the appeal. Literally the LTB has just given these people a place to live for life for free...
daught
Well-known member
This story does not add up. Starkman owns her house for 24 years, but mortgage jumps up by $1000 at renewal?
:format(webp)/https://www.thestar.com/content/dam/thestar/news/gta/2022/10/09/hoping-for-a-crash-or-praying-for-a-boom-the-housing-debate-thats-dividing-toronto/emailedphoto.jpg)
www.thestar.com
Or the non paywall
:format(webp)/https://www.thestar.com/content/dam/thestar/news/gta/2022/10/09/hoping-for-a-crash-or-praying-for-a-boom-the-housing-debate-thats-dividing-toronto/emailedphoto.jpg)
web.archive.org
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What happens when Toronto’s massive housing bubble bursts? Renters rejoice. Homeowners panic.
The fight over the fate of the Toronto housing market is pitting stressed-out homeowners against fed-up renters
Or the non paywall
Hoping for a crash or praying for a boom? The housing debate that’s dividing Toronto
The fight over the fate of the Toronto housing market is pitting stressed-out homeowners against fed-up renters
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It sure adds up…keep using the house a line of credit and it’s easy to have a 1000/month jump in payments.This story does not add up. Starkman owns her house for 24 years, but mortgage jumps up by $1000 at renewal?
What happens when Toronto’s massive housing bubble bursts? Renters rejoice. Homeowners panic.
The fight over the fate of the Toronto housing market is pitting stressed-out homeowners against fed-up renters
Or the non paywall
Hoping for a crash or praying for a boom? The housing debate that’s dividing Toronto
The fight over the fate of the Toronto housing market is pitting stressed-out homeowners against fed-up renters
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I know buddies who think of the house as a revolving LOC. Its all cheap when you average it out over 25-30 years.
If your 59 and have been in a house for 24 yrs , rent out rooms , and almost everyone knows a 25yr mortgage down with the Biweekly deal pays out in about 18 yrs …… she has done something really stupid in that 24 yr period.
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