Vancouver Rental Market Discussion

[Klazu]

It does boggle one's mind how some people can be entitled to a brand new place for the same rent. It's like living cheaply in a central location is a birth right for some people, when at the same time everyone else either needs to just work harder to pay higher prices OR move outwards.

[GenWhy?]

Originally Posted by Klazu

It does boggle one's mind how some people can be entitled to a brand new place for the same rent. It's like living cheaply in a central location is a birth right for some people, when at the same time everyone else either needs to just work harder to pay higher prices OR move outwards.

Evictions are a big cause homelessness in Metro Van, paired with the issue of new multi-family not growing into SF home zoned districts but solely focused on older multi-family zoned areas. It's City-sanctioned displacement. Addressing the issue of displacement and homelessness and poverty is a big part of the City's TRP policies.

[dreambrother808]

How dare a middle or lower income earner think they have a right to live affordably in a place they’ve spent 20 years or their whole life living in, right? There’s a foreign tech worker or rich kid who is much more deserving because “money”.

[cairnstone]

Government screwed the pouch 20 plus years ago by not increasing the rental pool back then through policy change. They all saw the growth in the city population. It was not like it happened over night. South of metrotown has been a ghetto for years, the buildings have not been maintained so rents were artificially low. This area has been owned by a variety of developers for years. So why is it a surprise when you get a notice under your door that the bilding you RENT is being repurposed these are the same people that are shocked when they loose there job do to technology advancements.

Im surprised the developers have not challenged Burnaby in court over imposing the rental rules on them.

So when renter A moves out of the new building does that unit now become market rent?

[misher]

Originally Posted by Klazu

It does boggle one's mind how some people can be entitled to a brand new place for the same rent. It's like living cheaply in a central location is a birth right for some people, when at the same time everyone else either needs to just work harder to pay higher prices OR move outwards.

Our policy has basically been if your above average you don’t matter in this society we can freely take from you.

[GenWhy?]

Originally Posted by misher

Our policy has basically been if your above average you don’t matter in this society we can freely take from you.

If you deal with development and renter eviction of any level you'd understand that it's the opposite, under the metro area's current zoning and planning policies.

[GenWhy?]

Originally Posted by cairnstone

Government screwed the pouch 20 plus years ago by not increasing the rental pool back then through policy change. They all saw the growth in the city population. It was not like it happened over night. South of metrotown has been a ghetto for years, the buildings have not been maintained so rents were artificially low. This area has been owned by a variety of developers for years. So why is it a surprise when you get a notice under your door that the bilding you RENT is being repurposed these are the same people that are shocked when they loose there job do to technology advancements.

Im surprised the developers have not challenged Burnaby in court over imposing the rental rules on them.

So when renter A moves out of the new building does that unit now become market rent?

I have yet to read rents are tied to the units only to the tenants. Some of our projects initially proposed this for a big of extra density (on top o the density we got for the condos being built) but the City initially said no. So this is really nothing new to most developers.

[cairnstone]

Originally Posted by dreambrother808

How dare a middle or lower income earner think they have a right to live affordably in a place they’ve spent 20 years or their whole life living in, right? There’s a foreign tech worker or rich kid who is much more deserving because “money”.

Guess what they should have got there 🞵🞵🞵🞵 together and bought then. There is no right to subsidized housing in Canada. I moved here 25 years ago and started off commuting from Aldergrove and bettered myself. There is no reason for a person that rents more stability than a person the saved and bought a place. Our rules have been black and white and already favor the renter. Now the developer will have to subsidiesthe renters for 3 years and then allow them to rent a place that will be subsidized $750 to $1200 a month indefinitely. So if I buy in the development im paying for your unit is that fair. Im no tech guy or rich kid.

[misher]

Originally Posted by cairnstone

Guess what they should have got there 🞵🞵🞵🞵 together and bought then. There is no right to subsidized housing in Canada. I moved here 25 years ago and started off commuting from Aldergrove and bettered myself. There is no reason for a person that rents more stability than a person the saved and bought a place. Our rules have been black and white and already favor the renter. Now the developer will have to subsidiesthe renters for 3 years and then allow them to rent a place that will be subsidized $750 to $1200 a month indefinitely. So if I buy in the development im paying for your unit is that fair. Im no tech guy or rich kid.

Surprisingly I'm not against a rental component. But I think developers should get infinite density as long as 20% is rental and get to skip the public consultation where old seniors do their best to sabotage development because they don't want more people. If something is 80 stories but 20% rental we should cheer because we get more rental. When you have a housing crisis, getting people housing is a LOT more important than the sacred views we seem to be protecting. All Hail the View Cone!

[dreambrother808]

Originally Posted by cairnstone

Guess what they should have got there 🞵🞵🞵🞵 together and bought then. There is no right to subsidized housing in Canada. I moved here 25 years ago and started off commuting from Aldergrove and bettered myself. There is no reason for a person that rents more stability than a person the saved and bought a place. Our rules have been black and white and already favor the renter. Now the developer will have to subsidiesthe renters for 3 years and then allow them to rent a place that will be subsidized $750 to $1200 a month indefinitely. So if I buy in the development im paying for your unit is that fair. Im no tech guy or rich kid.

Yes, 40somethings should have made all the right decisions in their 20s when they were still learning how to be adults, 30something’s should have got their 🞵🞵🞵🞵 together and bought something when they were 10 and those damn 20somethings should have thought twice about being born if they hadn’t already started saving money...

The problem isn’t going to be washed away by your judgement of renters.

[WarrenC12]

Originally Posted by dreambrother808

Yes, 40somethings should have made all the right decisions in their 20s when they were still learning how to be adults, 30something’s should have got their 🞵🞵🞵🞵 together and bought something when they were 10 and those damn 20somethings should have thought twice about being born if they hadn’t already started saving money...

The problem isn’t going to be washed away by your judgement of renters.

I qualify as somebody who "made all the right decisions and worked hard", but I'm not ignoring the factor that lucky timing played.

You don't have to look around too far to see that 20-somethings today have it markedly different than I did at that age.

[whatnext]

Originally Posted by cairnstone

Guess what they should have got there 🞵🞵🞵🞵 together and bought then. There is no right to subsidized housing in Canada. I moved here 25 years ago and started off commuting from Aldergrove and bettered myself. There is no reason for a person that rents more stability than a person the saved and bought a place. Our rules have been black and white and already favor the renter. Now the developer will have to subsidiesthe renters for 3 years and then allow them to rent a place that will be subsidized $750 to $1200 a month indefinitely. So if I buy in the development im paying for your unit is that fair. Im no tech guy or rich kid.

Yippee for you. What a good thing you weren't:
-a single mother forced to flee and abusive husband and work to feed two kids
-a labourer injured on the job and forced to live on a disability pension
-someone with a learning diability who still wanted to work and have their own home.

None of those people deserve being kicked out of the homes that they have dutifully paid rent on for years, just to to provide luxury housing. Their homes are only targetted because city councils are too spineless to approve multifamily development in SFH neighbourhoods.

[misher]

Originally Posted by whatnext

Yippee for you. What a good thing you weren't:
-a single mother forced to flee and abusive husband and work to feed two kids
-a labourer injured on the job and forced to live on a disability pension
-someone with a learning diability who still wanted to work and have their own home.

None of those people deserve being kicked out of the homes that they have dutifully paid rent on for years, just to to provide luxury housing. Their homes are only targetted because city councils are too spineless to approve multifamily development in SFH neighbourhoods.

Or because at every community feedback meeting 80% of the public are calling for less density and less people and a return to what Vancouver used to be like in the 60's. Please make sure you attend the next planning meeting, more density is one of the few things we agree upon.

[GenWhy?]

Originally Posted by whatnext

Yippee for you. What a good thing you weren't:
-a single mother forced to flee and abusive husband and work to feed two kids
-a labourer injured on the job and forced to live on a disability pension
-someone with a learning diability who still wanted to work and have their own home.

None of those people deserve being kicked out of the homes that they have dutifully paid rent on for years, just to to provide luxury housing. Their homes are only targetted because city councils are too spineless to approve multifamily development in SFH neighbourhoods.

This is who we talk to in our relocations and we get them good housing with groups like BC Housing and a social worker. We do it right, and that was before the new tenant policies. Immigrant families, people with school-aged kids, and older folks are a large demographic too that need the most help and get hurt the most with displacement.

[NewfBC]

Amazing how many furnished units are for rent on Craigslist. Have never seen anything like it. All former AirBnB places I assume.

Ron.

[misher]

Originally Posted by NewfBC

Amazing how many furnished units are for rent on Craigslist. Have never seen anything like it. All former AirBnB places I assume.

Ron.

Or people who moved back home and rented their place because they are desperate for cash as they don't have a job?

But yeah prob mostly AirBnB's.

[VarBreStr18]

In today's rental market, is anybody still got notified by their landlord of rent increase? I did. But I thought landlord not allowed to serve notice at least for now due to Covid19.

[Migrant_Coconut]

You would be correct. But some landlords are desperate or unscrupulous.

[VarBreStr18]

Originally Posted by Migrant_Coconut

You would be correct. But some landlords are desperate or unscrupulous.

Anybody has a link to that announcement so that I can talk to my landlord?

[whatnext]

Rates predictably drop:

The cost to rent a two-bedroom apartment in Vancouver dropped by more than 15 per cent last month, according to the latest data from Rentals.ca.

In its monthly national report, the house-hunting website said average rents were down in April over March in most major Canadian cities — evidence of the COVID-19 pandemic’s effect on the rental market....

https://vancouversun.com/news/local-news...-bedroom-units-drop-by-over-15-per-cent/