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Originally Posted by Klazu
Interesting read and it sounds like many existing residents are trying to have their cake and eat it too. I hope they didn't think city buying the building would mean they can keep their ridiculously under the market rates completely as-is. The option to pin all the extra charges on new residents and create a two-tier system is also an yikes.
https://www.burnabynow.com/local-news/bu...erned-rates-will-rise-after-sale-5946597 |
Charging a market rate for a fully renovated and vacant suite seems reasonable while un-renovated occupied suites get a 14% increase as opposed to their annual 3% seems reasonable as long as they collect enough for their lease payments.