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I don't understand why dedicated purpose built rental properties are no longer a thing anymore? Why do we build condo buildings with crappy condo boards run by amateurs who have no idea how to maintain and operate a building? In almost every condo environment I've lived in the lowest common denominator has always been malfunctioning equipment, lovely amenities, completely useless building staff and weird arbitrary rules that make no sense. Much needed maintenance almost never seems to get done while building fees seem to skyrocket on a regular basis with no justifiable explanation. You get fire alarms, routine power outages and worse. I used to live in a condo that was built in 2016 (I moved in the fall of that year). In the 4 years that I've lived there I: 1. Lost my heating three times during the coldest parts of the winter and they didn't do anything to fix it for at least 2-3 days. 2. Had maintenance staff going in and out of my unit at least 4 times per year to fix whatever bullshit is wrong with the stack 3. Had fire alarms due to building idiots. 4. Watched as the various amenities the condo advertised were slowly taken out of service especially when the builder subsidized period of the condo was ended... (for example we used to have a shuttle bus to Kipling station) 5. Had noisy rear end neighbors that building staff couldn't do anything about. I'm talking literal banging and screaming like they're watching the superbowl at 3AM. I feel like if a dedicated rental company built these buildings and only ever rented them out while assuming the maintenance responsibilities themselves, most of the above wouldn't be happening. Instead you parcel it out to absentee landlords and leave maintenance up to a condo board full of rank amateurs who have no business managing building finances. I think this is why owning a house is probably the best case scenario, yes you assume responsibility for anything that's broken but at least you have total control over the property.
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# ? Aug 17, 2021 15:54 |
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# ? Jun 13, 2024 05:29 |
Dedicated purpose-built rentals are definitely being built in Vancouver. Developers try to sell condos during market dips and find that nobody wants to buy their garbage. They're being rented out at far above market rates because developers can do the math. The cost of land is so high they know that they need to charge 3-4000/month for a 2 bedroom 900sqft unit. Who wants the government to build housing projects? And at what cost to taxpayers??? I'm sure we can all agree the free market is the most efficient path to affordable housing.
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# ? Aug 17, 2021 16:07 |
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Kraftwerk posted:I feel like if a dedicated rental company built these buildings and only ever rented them out while assuming the maintenance responsibilities themselves, most of the above wouldn't be happening. I wouldn't get your hopes up, my building is an older purpose built rental and we have monthly emergency water shut offs, and they can't keep both elevators running for more then a few days. But they can put up tvs that show ads in the elevators and lobby!
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# ? Aug 17, 2021 17:12 |
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‘The numbers are staggering’: You now need $1 million to buy a detached house across 97% of the GTA — even in areas far from downtown https://www.thestar.com/business/20...m-downtown.html https://outline.com/xdcPBE quote:Even before the pandemic, the demand for a house with a yard was escalating as the millennial generation hit their family years.
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# ? Aug 17, 2021 17:25 |
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Everyone is a millionaire now Unless you weren’t able to get on the property ladder for any number of reasons. In that case you are now permanently part of Canadas underclass, the renter
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# ? Aug 17, 2021 17:38 |
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Number19 posted:Everyone is a millionaire now Except, as you said, there isn't enough money available for that actually to be true.
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# ? Aug 17, 2021 17:46 |
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I don't think there is an easy solution to the housing crisis. The government will kick the can down the road until some kind of asset price bubble bursts and crashes the value of people's homes like it always does. If they actively do something to alleviate housing prices and prick that bubble themselves, they'll lose their next election and they are cowards. It really is ironic. I still remember when my family came to this country how cheap it was to get a place in Richmond Hill or Mississauga and in those days you were thought to be in the middle of nowhere. Now everyone wants to be here.
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# ? Aug 17, 2021 17:56 |
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Maybe that's what the Feds meant when they said they were lifting people out of the middle class. As long as you own a house you're no longer poor.
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# ? Aug 17, 2021 18:10 |
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Cold on a Cob posted:‘The numbers are staggering’: You now need $1 million to buy a detached house across 97% of the GTA — even in areas far from downtown My parents just sold their house in pickering, I guess it's a foregone conclusion that I'm going to get trapped in the rear end end of nowhere now. Great country we got here
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# ? Aug 17, 2021 18:17 |
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Kraftwerk posted:If they actively do something to alleviate housing prices and prick that bubble themselves, they'll lose their next election and they are cowards. It's worse than that. Any government that doesn't keep housing prices propped up is going to be shown the door, even though the government won't be able to prevent the bubble from popping when the time comes.
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# ? Aug 17, 2021 18:18 |
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Tighclops posted:My parents just sold their house in pickering, I guess it's a foregone conclusion that I'm going to get trapped in the rear end end of nowhere now. Great country we got here I'm fully resigned to renting for the rest of my life. I could buy a condo still but I don't want to own a condo and a house would be wasteful anyway since my partner and I are never having children.
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# ? Aug 17, 2021 18:22 |
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I'm half convinced the bubble won't pop - more and more of our GDP will be housing related and then when it finally pops is when climate change will reach a breaking point and we'll be a destination for richugees from climate destroyed countries and it'll continue. Livin' like a serf in a G7 country lmao Cold on a Cob posted:I'm fully resigned to renting for the rest of my life. I could buy a condo still but I don't want to own a condo and a house would be wasteful anyway since my partner and I are never having children. Boomers are now downsizing into the homes that are purpose built for people like you and I. "Starter homes" with 2/3 bed 1 bath are now going for insane amounts of money
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# ? Aug 17, 2021 18:22 |
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Time to move to Thunder Bay to get ahead of the climate refugees
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# ? Aug 17, 2021 18:23 |
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Cold on a Cob posted:Time to move to Thunder Bay to get ahead of the climate refugees Planning on getting into the human trafficking business with former thunder bay cops?
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# ? Aug 17, 2021 18:27 |
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Fidelitious posted:Even to the owner themselves moving in, it should not be allowed unilaterally. Happened here in Hamilton recently too.
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# ? Aug 17, 2021 18:27 |
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New post from BlogTO: Can't afford a house in Toronto? Check out these commuter towns near Toronto: West Guilford Ingoldsby Maple Valley Havelock Gooderham and darkhorse pick: Hallebourg
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# ? Aug 17, 2021 18:30 |
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There are so many choices for classy, culture-rich cities within easy* commuting** distance*** of Toronto, including: London Stratford Paris Berli... oh, oops Princeton, Blandford-Blenheim (part of Oxford County)
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# ? Aug 17, 2021 18:47 |
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I unironically considered looking at condos in London but it's just too loving far from friends & family. Then covid hit and all the condos I looked at before that had been 300k or less are now selling for 400k or more and I ain't paying 400k to live in London.
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# ? Aug 17, 2021 18:52 |
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London - where you could work for either General Dynamics (or their offshoot suppliers) who sell tanks to Saudi Arabia to use on their populace - or work at Diamond Aircraft and await the next batch of layoffs due in about 18 months or so!
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# ? Aug 17, 2021 18:56 |
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Slotducks posted:London - where you could work for either General Dynamics (or their offshoot suppliers) who sell tanks to Saudi Arabia to use on their populace - or work at Diamond Aircraft and await the next batch of layoffs due in about 18 months or so! I thought Diamond shut down their London facility and only manufacture in Austria now? (On a related note, Bombardier's Downsview site is being shut down by its new parent company) Prices are skyrocketing in the Niagara region too. St. Catharines is going gangbusters on home sales and let me tell you, a lot of those houses are in lovely condition.
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# ? Aug 17, 2021 19:10 |
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If you think boomer's and late xers left the world in a state of disrepair oh boy wait til you see their neglected houses.
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# ? Aug 17, 2021 19:22 |
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Yeah my in-laws' house is slowly crumbling around them. Sum total of professional work they've had done since they bought it in 89: - new roof in ~2015, only because it was outright leaking - new furnace rental when the old one failed Everything else is either ignored or my father in law does a lovely job fixing himself, like when he repaired the main bathroom tiles with plastic window blind slats and caulk.
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# ? Aug 17, 2021 19:32 |
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New furnaces every 10 years because they can't keep up with the 40 year old leaky as windows they refuse to replace
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# ? Aug 17, 2021 19:56 |
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The only thing more brutally expensive than house upkeep is not doing the house upkeep.
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# ? Aug 17, 2021 20:12 |
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Baronjutter posted:The only thing more brutally expensive than house upkeep is not doing the house upkeep. Agreed. I am not going to judge someone harshly for getting the maximum life out of the fixtures and appliances and I absolutely think it's wasteful to renovate every 10 years like some people, but letting the place crumble is just sad. We've wasted so much breath trying to convince our in-laws to do something about the condition of their home but it falls on deaf ears.
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# ? Aug 17, 2021 20:23 |
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Theoretically it shouldn't really matter whether you do upkeep or not, financially. The only difference is whether you choose to pay now or pay when you sell your home via the depreciation cost. But nowadays you can just wait for a housing mania to kick off and only accept offers that don't have home inspection as part of the deal.
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# ? Aug 17, 2021 20:44 |
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For superficial stuff, sure. The fact my father in law let the upstairs shower/tub stall leak so long that it damaged the ceiling above the dining room says otherwise though. Edit: I would argue/agree the smart money is to put zero dollars into superficial stuff because trends change so often it's not worth, for example, updating the kitchen if you're going to sell in 5 to 10 years. But if you skip on things that can cause water damage or risk of fire, well, that might not pay off so well. Cold on a Cob fucked around with this message at 21:10 on Aug 17, 2021 |
# ? Aug 17, 2021 21:08 |
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There's a ton of upkeep stuff where deferring spending a few thousand to fix or replace a thing can end up costing tens of thousands later. Don't delay or gently caress around with anything foundation or roof related, fix all potential leaks and don't ever take a chance with electrical poo poo. Anything else is whatever. Let you lawn go to poo poo, never redo your kitchen, its all superficial stuff. But do not let the bones of your house go bad.
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# ? Aug 17, 2021 21:27 |
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Cold on a Cob posted:Time to move to Thunder Bay to get ahead of the climate refugees Coincidentally I was just discussing this with my wife a few days ago. Ottawa definitely has climate plans but one city cannot do anything to change the fact that this area could become fairly unlivable within say 40 years, being conservative. You gotta choose the right time to head north and unfortunately Thunder Bay is somehow the furthest north. I wonder when governments start doing climate investment in building northern cities.
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# ? Aug 18, 2021 13:42 |
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Fidelitious posted:I wonder when governments start doing climate investment in building northern cities. Trust me - the moment you see the Ontario PC Government or Fed Cons start to build in northern cities it will also be the time you start to see them start to begrudgingly admit it's real. One can't happen without the other.
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# ? Aug 18, 2021 15:16 |
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https://www.theglobeandmail.com/business/article-canadas-inflation-rate-jumps-to-37-in-july-on-rising-housing-costs/ More inflation. That they won't be doing anything to battle.
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# ? Aug 18, 2021 16:51 |
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Slotducks posted:Trust me - the moment you see the Ontario PC Government or Fed Cons start to build in northern cities it will also be the time you start to see them start to begrudgingly admit it's real. One can't happen without the other. I am curious how you envision governments doing anything of the sort. I am pretty resigned to doom as I doubt we, as a culture, have the wherewithal to actually do the dramatic things that may allow us to survive. Just building northern cities just doesn’t seem like anything a government could even do. Obviously they can, but I think it would require a complete redesign of how government actually functions to happen. It seems unlikely to be something our current governing structures would support/allow.
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# ? Aug 18, 2021 21:00 |
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Crow Buddy posted:I am curious how you envision governments doing anything of the sort. Literally any billionaire deciding that that area should service a massive factory or warehouse or whatever kicks the ball into motion
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# ? Aug 18, 2021 21:29 |
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ARTPUP posted:Seeing more and more land for sale that is basically conservation protected on realtor.ca You pay for the land but cannot build on it. Here's one from Burlington: https://www.realtor.ca/real-estate/23476535/1412-hidden-valley-road-burlington Not a bad bet since this conservation land is right by a Metrolinx station. Isn't it part of the big push for rapid transit in the GTA that the province will override municipal zoning laws for transit-oriented development? Flocons de Jambon fucked around with this message at 20:30 on Aug 19, 2021 |
# ? Aug 19, 2021 20:23 |
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https://thinkpol.ca/2021/08/19/a-liberal-candidate-is-flipping-properties-in-vancouver-someone-got-twitter-to-gag-me-for-revealing-it/quote:A Liberal candidate is flipping properties in Vancouver. Someone got Twitter to gag me for revealing it.
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# ? Aug 20, 2021 11:54 |
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Because as we all know, real estate transactions are private information??? drat my local Land Registry Office is leaking all kinds of private information to me about former owners of my property.
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# ? Aug 20, 2021 13:23 |
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Who would’ve thought a liberal candidate’s first priority is to protect their own investments? More and more I despise this party, I used to think the federal liberals were different to the BC liberals, but I don’t think this is true anymore.
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# ? Aug 20, 2021 18:33 |
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Fidelitious posted:Because as we all know, real estate transactions are private information??? It seems like the sort of thing which an overworked Twitter moderator could mistake as posting someone's home address. Still lovely that someone (presumably from the candidate's campaign) abused the Twitter report functionality. Also kinda murky, because at various levels property flippers are often claiming that every property they own is their "home address".
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# ? Aug 20, 2021 18:48 |
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Cold on a Cob posted:I'm fully resigned to renting for the rest of my life. I could buy a condo still but I don't want to own a condo and a house would be wasteful anyway since my partner and I are never having children. You're just on the wrong side of the border!
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# ? Aug 20, 2021 18:51 |
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# ? Jun 13, 2024 05:29 |
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qhat posted:Who would’ve thought a liberal candidate’s first priority is to protect their own investments? More and more I despise this party, I used to think the federal liberals were different to the BC liberals, but I don’t think this is true anymore. Oh they are different, but running assholes is pretty evergreen for every party.
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# ? Aug 21, 2021 15:41 |