Canada Housing/Debt: Trust me, I'm a landlord.

The Something Awful Forums > Discussion > Debate & Discussion > Canada Housing/Debt: Trust me, I'm a landlord.

The Butcher: Apr 20, 2005; Well, at least we tried.; Nap Ghost

OSI bean dip posted:

http://www.richmond-news.com/news/richmond-driver-of-bond-style-car-shaken-stirred-over-bill-1.6930405

I'm the loving idiot who buys an expensive $200,000 car and whines about how much it costs to fix after probably driving it way too loving fast.

Ahh don't stop I'm almost there

# ? Jan 12, 2017 00:38

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# ? May 24, 2024 02:32

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Did she not have comprehensive? That's dumb.

# ? Jan 12, 2017 00:39

Powershift: Nov 23, 2009

Subjunctive posted:

Did she not have comprehensive? That's dumb.

No, that would have been another $1000 a year which is a total scam they're just trying to gently caress you.

# ? Jan 12, 2017 00:40

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

If she returns it to the dealer, or abandons it to the shop, should she get PST refunded? Show your work.

# ? Jan 12, 2017 00:41

dev286: Nov 30, 2006; Let it be all the best.

OSI bean dip posted:

http://www.richmond-news.com/news/richmond-driver-of-bond-style-car-shaken-stirred-over-bill-1.6930405

I'm the loving idiot who buys an expensive $200,000 car and whines about how much it costs to fix after probably driving it way too loving fast.

Such a brilliant hate-read

# ? Jan 12, 2017 02:55

I would blow Dane Cook: Dec 26, 2008

inexplicably veered off the road and hit a large stone

# ? Jan 12, 2017 02:59

Tochiazuma: Feb 16, 2007

Subjunctive posted:

If she returns it to the dealer, or abandons it to the shop, should she get PST refunded? Show your work.

Bonus: If she leaves it in her driveway, calls it a 'mini condo' and says it sleeps 2, how much should she list it for?

# ? Jan 12, 2017 04:42

Professor Shark: May 22, 2012

I love these kinds of :qq:

stories

Luxury cars are pretty fun to look at as someone who will never be able to afford one- it seems that people will put every cent they have into them to get the most car as possible, then skimp on all the costs associated with car ownership. Someone told me once to always look at the tires, I haven't been able to unsee it since.

# ? Jan 12, 2017 12:49

Saltin: Aug 20, 2003; Don't touch

Professor Shark posted:

I love these kinds of stories

Luxury cars are pretty fun to look at as someone who will never be able to afford one- it seems that people will put every cent they have into them to get the most car as possible, then skimp on all the costs associated with car ownership. Someone told me once to always look at the tires, I haven't been able to unsee it since.

These idiots don't understand that the right way to buy a car like this is on a whim, with cash, and not really even looking at the sticker - ideally just to drive on Tuesdays. That is the only way you can be sure you can afford one.If you end up crashing it, it goes away for a while and comes back fixed. You don't concern yourself with things like bills.

# ? Jan 12, 2017 14:44

mojo1701a: Oct 9, 2008; Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

Professor Shark posted:

I love these kinds of stories

Luxury cars are pretty fun to look at as someone who will never be able to afford one- it seems that people will put every cent they have into them to get the most car as possible, then skimp on all the costs associated with car ownership. Someone told me once to always look at the tires, I haven't been able to unsee it since.

Their kids are usually the same way.

# ? Jan 12, 2017 15:29

PT6A: Jan 5, 2006; Public school teachers are callous dictators who won't lift a finger to stop children from peeing in my plane

It's why a lot of pseudo-luxury cars skimp on things like tires and brakes (Chrysler 300, I'm looking your way!).

Why make your car actually pleasant to drive when you can just make it look vaguely impressive for a lot less money? :rolleyes:

# ? Jan 12, 2017 15:32

cowofwar: Jul 30, 2002; by Athanatos

Professor Shark posted:

I love these kinds of stories

Luxury cars are pretty fun to look at as someone who will never be able to afford one- it seems that people will put every cent they have into them to get the most car as possible, then skimp on all the costs associated with car ownership. Someone told me once to always look at the tires, I haven't been able to unsee it since.

Yeah I always check the wheels. Most luxury cars have disgustingly filthy wheels.

# ? Jan 12, 2017 15:41

Lobok: Jul 13, 2006; Say Watt?

The tires or the wheels?

Tires I would expect to be cheap, wheels I would expect to be... dirty I guess, if the person is skimping on keeping their car clean. But I'm assuming tires are always dirty.

# ? Jan 12, 2017 15:46

Risky Bisquick: Jan 18, 2008; PLEASE LET ME WRITE YOUR VICTIM IMPACT STATEMENT SO I CAN FURTHER DEMONSTRATE THE CALAMITY THAT IS OUR JUSTICE SYSTEM.; Buglord

My house is up 81.5% in 6.5y :downs:

Buy now or be priced out forever

# ? Jan 12, 2017 15:49

Lain Iwakura: Aug 5, 2004; The body exists only to verify one's own existence.; Taco Defender

Lobok posted:

The tires or the wheels?

Tires I would expect to be cheap, wheels I would expect to be... dirty I guess, if the person is skimping on keeping their car clean. But I'm assuming tires are always dirty.

High end cars tend to have softer tires which wear down quickly. Chances are she had summer tires on it.

# ? Jan 12, 2017 15:49

cowofwar: Jul 30, 2002; by Athanatos

Bunch of listings now coming back on to Vancouver market with 10-15% haircuts this week.

# ? Jan 12, 2017 15:55

Playstation 4: Apr 25, 2014; Unlockable Ben

Gentlemen, it has been an honor riffing with you tonight.

# ? Jan 12, 2017 15:58

Number19: May 14, 2003; HOCKEY OWNS
FUCK YEAH

cowofwar posted:

Bunch of listings now coming back on to Vancouver market with 10-15% haircuts this week.

This isn't the first time it's happened and I don't think it's the last. I'm even starting to see listings advertising that they're "below assessed value" like that's some sort of big selling point.

# ? Jan 12, 2017 16:08

cowofwar: Jul 30, 2002; by Athanatos

Number19 posted:

This isn't the first time it's happened and I don't think it's the last. I'm even starting to see listings advertising that they're "below assessed value" like that's some sort of big selling point.

Yeah they're coming in at or below the july 2016 assessed values now.

# ? Jan 12, 2017 16:16

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

Saltin posted:

These idiots don't understand that the right way to buy a car like this is on a whim, with cash, and not really even looking at the sticker - ideally just to drive on Tuesdays. That is the only way you can be sure you can afford one.If you end up crashing it, it goes away for a while and comes back fixed. You don't concern yourself with things like bills.

Don't drive what you can't afford to replace, especially as the car moves from "minimal necessity" to "fun toy".

Most likely she can afford to replace it, though, she just doesn't want to.

# ? Jan 12, 2017 16:18

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

cowofwar posted:

Yeah they're coming in at or below the july 2016 assessed values now.

How do Vancouver assessments track vs transaction history? Mine in Toronto is substantially below my recent purchase price (and more recent bank appraisal), which bothers me I have to admit.

# ? Jan 12, 2017 16:19

Reince Penis: Nov 15, 2007; by R. Guyovich

Subjunctive posted:

How do Vancouver assessments track vs transaction history? Mine in Toronto is substantially below my recent purchase price (and more recent bank appraisal), which bothers me I have to admit.

Yeah I just got my estimates from 2016-2020 and even the 2020 estimated assessment is ~20% below my purchase.

I'm not worried about it, my house isn't an investment.... but there was a bit of sticker shock.

# ? Jan 12, 2017 16:25

Postess with the Mostest: Apr 4, 2007; Arabian nights
'neath Arabian moons
A fool off his guard
could fall and fall hard
out there on the dunes

Subjunctive posted:

Mine in Toronto is substantially below my recent purchase price (and more recent bank appraisal), which bothers me I have to admit.

MPAC tends to be low, everyone says the same thing. Keeps appeals down and everyone thinks they're getting a bargain on taxes.

# ? Jan 12, 2017 16:27

Subjunctive: Sep 12, 2006; ✨sparkle and shine✨

PK loving SUBBAN posted:

Yeah I just got my estimates from 2016-2020 and even the 2020 estimated assessment is ~20% below my purchase.

I'm not worried about it, my house isn't an investment.... but there was a bit of sticker shock.

Yeah, mine 2020 assessed value is 87% of my purchase price, but the 2016 one is only 68%. Pretty ridiculous when they have an arms-length transaction on the books.

# ? Jan 12, 2017 16:28

Lain Iwakura: Aug 5, 2004; The body exists only to verify one's own existence.; Taco Defender

http://vancouversun.com/news/local-...for-unpaid-fees

quote:

Condo king Bob Rennie sues Vancouver developer, multi-billion-dollar pension funds for unpaid fees

JOANNE LEE-YOUNG
More from Joanne Lee-Young
Published on: January 11, 2017 | Last Updated: January 11, 2017 7:30 PM PST

Condo king Bob Rennie has been the target of many lawsuits, but for over four decades, the power broker says he has never taken action to sue anyone himself. Until now.

Rennie Marketing Systems is suing Vancouver-based Shape Properties Corp. for more than $16 million in real estate marketing fees related to the sale of more than 1,300 condo units at developments near Brentwood Mall in Burnaby, according to a notice of claim filed in B.C. Supreme Court.

In June 2016, Shape and its partners, including multi-billion-dollar, Toronto-based pension funds, terminated Rennie�s services on the massive mixed-used, retail, office and residential project. They decided to market the project in-house despite three towers of condo units nearly selling out and the defendants �having learned the Rennie Platform from Rennie Marketing Systems,� states the claim.

�There�s not a lot to say,� said Rennie. �I have never sued anyone in 42 years in business, so it�s not a comfortable spot.�

The allegations in the claim have not been tested or proven in court.

Shape president John Horton said: �My view is that there is no merit to this claim. We will vigorously defend (it) in due course.�

Rennie started working in 2011 with Shape and its partner companies that are associated with the Healthcare of Ontario Pension Plan to market the �Amazing Brentwood� project, a 28-acre site at Lougheed and Willingdon next to Brentwood shopping centre, according to the claim. The vision was a �master planned community� with 13 high-rise residential towers.

�Rennie Marketing Systems was instrumental in developing this concept and in the planning, branding and market positioning of the project,� states the claim.

The lawsuit, filed at the end of December, said Rennie began marketing for this project in 2013 and also started drawing up similar plans for �City of Lougheed,� a separate, 40-acre site in Burnaby co-owned by Shape and companies associated with Greystone Capital Management, a Regina-based firm that invests $32 billion on behalf of pension and endowment funds for Canadian universities, unions and companies.

The Lougheed project plan also contains mixed-use retail and office space and a plan for 23 high-rise residential towers.

The companies agreed for Rennie Marketing to receive a fee for each condo sold, based on a confidential percentage of the sale price, with half paid by Shape to Rennie when buyers signed a firm, pre-sale contract and the remaining due when the condos were completed and the deals closed. Shape would also pay a monthly advance. The claim said even though Shape failed to sign the agreement for six months, Rennie allegedly staffed up a sales centre and nearly sold out two towers of 845 condo units at Brentwood between 2013 and 2015.

Shape paid the monthly advances, but in April 2015, it requested a reduction in fees �in light of the number of towers being planned for the two projects.�

The claim said that Horton proposed for Rennie to exclusively market other future projects to be developed by Shape and Greystone.

Rennie made several proposals for fee reductions, but did not hear back from Shape even though it �continued to work intensively with Rennie,� said the claim.

By April 2016, according to the claim, Rennie had nearly sold out a third tower at Brentwood when Shape asked to keep the presentation centre there staffed with sales agents and coordinators to direct potential customers to its Lougheed project.

Then, in June 2016, Horton advised Rennie that Shape was terminating Rennie Marketing Systems� services on both projects, according to the claim.

In total, Rennie�s company is seeking $16, 464,650 for unpaid fees and damages for breach of contract, but Rennie said, �the large size of the claim is distorted. There were 960 brokers who sold condos. It�s not $16 million goes to Bob. We�re a clearing house for the agents who sold 1,300-plus units.�

Horton said he couldn�t elaborate as the company readies a reply to the claim, but described the move as a �business decision�, adding: �We are a real estate company with integrated platforms, and we are well within our rights to internalize marketing.�

I'll be that there will be more of these soon.

# ? Jan 12, 2017 17:27

TerminalSaint: Apr 21, 2007; Where must we go...

we who wander this Wasteland in search of our better selves?

Professor Shark posted:

I love these kinds of stories

Luxury cars are pretty fun to look at as someone who will never be able to afford one- it seems that people will put every cent they have into them to get the most car as possible, then skimp on all the costs associated with car ownership. Someone told me once to always look at the tires, I haven't been able to unsee it since.

You see a similar phenomenon on military bases in the US; muscle cars with body damage.

18 year old idiot blows his signing bonus on a Mustang or a Charger, dings it up driving like an idiot, and can't afford to get it repaired.

# ? Jan 12, 2017 17:47

Number19: May 14, 2003; HOCKEY OWNS
FUCK YEAH

cowofwar posted:

Yeah they're coming in at or below the july 2016 assessed values now.

I'm very curious to see what the upcoming provincial election does to the market. I can see the whole market freezing up because no one knows what's going to happen.

# ? Jan 12, 2017 18:12

Fried Watermelon: Dec 29, 2008

TerminalSaint posted:

You see a similar phenomenon on military bases in the US; muscle cars with body damage.

18 year old idiot blows his signing bonus on a Mustang or a Charger, dings it up driving like an idiot, and can't afford to get it repaired.

Then they vote conservative and complain that military doesn't get paid enough

# ? Jan 12, 2017 21:41

Lain Iwakura: Aug 5, 2004; The body exists only to verify one's own existence.; Taco Defender

Fried Watermelon posted:

Then they vote conservative and complain that military doesn't get paid enough

Then complain when they end up getting medical discharge and the government doesn't do anything to help them other than a lump sum payout.

# ? Jan 12, 2017 22:11

Professor Shark: May 22, 2012

Lobok posted:

The tires or the wheels?

Tires I would expect to be cheap, wheels I would expect to be... dirty I guess, if the person is skimping on keeping their car clean. But I'm assuming tires are always dirty.

Yeah sorry I meant tires

# ? Jan 12, 2017 22:43

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

Subjunctive posted:

How do Vancouver assessments track vs transaction history? Mine in Toronto is substantially below my recent purchase price (and more recent bank appraisal), which bothers me I have to admit.

Six months was an eternity in Vancouver real estate time - up until the foreign buyer tax at least - so comparables were often $100,000+ more than my assessment.

I wouldn't be surprised if it's $100,000 lower soon though, despite being an area that Chinese don't like and being an older condo. Went up $60k this year, but that was July.

# ? Jan 13, 2017 00:49

cowofwar: Jul 30, 2002; by Athanatos

I wonder if the crash will come before or after the supercar dealers close up shop

# ? Jan 13, 2017 00:54

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

I wonder if they'll liquidate or just pack up shop and move to the GTA.

# ? Jan 13, 2017 00:59

UnfortunateSexFart: May 18, 2008; ð» ððð« ð·ððð·
ð ð ð ð« ð®ð ð¾ð ð ð¡ððð

cowofwar posted:

I wonder if the crash will come before or after the supercar dealers close up shop

After for sure. Half of the city will vanish from the country and abandon their mortgages - laws be damned - and then the only market for luxury cars would be Canadians who cashed out in time... But most of them have left the city.

# ? Jan 13, 2017 01:21

Powershift: Nov 23, 2009

UnfortunateSexFart posted:

After for sure. Half of the city will vanish from the country and abandon their mortgages - laws be damned - and then the only market for luxury cars would be Canadians who cashed out in time... But most of them have left the city.

Canada is an insanely small market. The second the ball drops, every interesting car will be on a truck headed for california.

The oilfield crash did it to alberta, a 200,000km 3/4 ton truck doubled in price over the course of a year as probably 50 truckloads of vehicles a day headed south.

# ? Jan 13, 2017 01:37

ocrumsprug: Sep 23, 2010; by LITERALLY AN ADMIN

Powershift posted:

Canada is an insanely small market. The second the ball drops, every interesting car will be on a truck headed for california.

The oilfield crash did it to alberta, a 200,000km 3/4 ton truck doubled in price over the course of a year as probably 50 truckloads of vehicles a day headed south.

Buy your super cars now, or be forever priced out of the market.

# ? Jan 13, 2017 01:55

EvilJoven: Mar 18, 2005; NOBODY,IN THE HISTORY OF EVER, HAS ASKED OR CARED WHAT CANADA THINKS. YOU ARE NOT A COUNTRY. YOUR MONEY HAS THE QUEEN OF ENGLAND ON IT. IF YOU DIG AROUND IN YOUR BACKYARD, NATIVE SKELETONS WOULD EXPLODE OUT OF YOUR LAWN LIKE THE END OF POLTERGEIST. CANADA IS SO POLITE, EH?; Fun Shoe

Because if there's one thing you want in our pothole filled seldomly snowplowed post economic apocalypse wasteland, it's an Italian, German or English supercar.

# ? Jan 13, 2017 01:58

etalian: Mar 20, 2006

I would blow Dane Cook posted:

inexplicably veered off the road and hit a large stone

The best part of the article

# ? Jan 13, 2017 01:59

I would blow Dane Cook: Dec 26, 2008

etalian posted:

The best part of the article

No the best part is:

quote:

Liu, who is in her 30s

# ? Jan 13, 2017 02:25

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# ? May 24, 2024 02:32

Baronjutter: Dec 31, 2007; "Tiny Trains"

EvilJoven posted:

Because if there's one thing you want in our pothole filled seldomly snowplowed post economic apocalypse wasteland, it's an Italian, German or English supercar.

Hell even in perfectly maintained roads I constantly hear/see them scraping their bodywork on curbs and driveways steeper than 0.000001% grade.

# ? Jan 13, 2017 02:52

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