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Number19 posted:The BC Utilities Commission is opening an investigation into this and unlike the RTB, the BCUC has the teeth and the resources to gently caress the landlord up completely. I wouldn't be surprised to see this disappear in the next week or so. I used to work for BCUC and as soon as I heard this story I started loling Dude is catastrophically hosed Eta: if nobody has signed anything yet he can probably slink off with a big fine, but if there's already a signed contract to act as a utility... lmao, just lmao
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Sep 23, 2021 23:11
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| # ¿ May 9, 2024 22:50 |
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Did you know that every year, every utility in BC has to submit what is, essentially, a total proactive audit of their entire business, in order to justify how their exact fee was calculated, including the approved and capped profit margin? Down to the loving pencils they bought? Including executive compensation and possible profits from other assets? Everything? Did you know that if you are a self contained subsidiary designed to limit liability, that audit almost certainly extends to any beneficial ownership? So; lmfao
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Sep 24, 2021 01:17
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I once told Fortis to eat a multi million dollar loss because they tried to stick the cost of an orphaned gas line project onto the general ratepayer, because my predecessors had carefully tracked that gas line as a line item for ten years in anticipation of the day some young analyst like me would come along and throw the last shovel of dirt on them. They are like CRA except they can also order you to redo your entire business plan at gunpoint
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Sep 24, 2021 01:23
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Yeah Iike I said it will come down to the contacts and what they say. Being a reseller isn't much better than being a utility. It's like being sorted into Beef or Leather
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Sep 24, 2021 03:02
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Number19 posted:There are rules about passing through costs from BC Hydro where you can’t charge the tenant more than what their bill would be normally if they got it from BC Hydro direct. This guys plan allocates the electricity costs by square footage so the plan is definitely suspect Yeah this is more likely just a dumb guy violating his Electrical Tariff contract in this exact way Also if any of those people has a lease longer than five years, congratulations, you're definitely a utility now Eta: and the reason I specify it depending on the contracts is that I could see a strong argument to make that if someone is in a month to month lease, but this new electrical contract itself stipulates a contractual duration of any period longer than five years, *Dave Chappelle doing Rick James* UTILITYYYYYYY Franks Happy Place fucked around with this message at 03:12 on Sep 24, 2021 |
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Sep 24, 2021 03:10
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I wonder how much more money you could get by upping your buyers commission to like 5% and just relying on the sheer greed of realtors to somehow convince all their clients to win the bidding war on your place.
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Oct 17, 2021 20:19
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All my cannabis retail clients are now paying around $25/hr as a starting wage for people who don't even have their Selling It Right cert yet. Anecdotally it's because most of the owners I talk to are legit "living wage" minded due to the number of them who are minority/woman/whatever owned ($25 is probably $3-4 above market), but I think that's also now the range for a starting wage in Vancouver at this point.Baronjutter posted:Apparently it was all down to taxes and subsidies. 60-80's there were a lot of policies that made apartment development attractive and it was a real easy business to get into. You're a fairly successful dentist, your friend is a lawyer, your other friend is in senior management for the Ministry of Transport. You pool your money together and bam, you build a typical little 4 story woodframe condo. There's practically off the shelf plans and contractors are just cranking them out. You don't need to worry about zoning because most of the land was already zoned for it, you don't need to deal with 3 years of public consultation and studies as there's only basic building permit process, and the generally very long return on investment for rental construction is much more appealing because there's tax breaks for it and even subsidies in some cases. So you get this absolute boom of affordable residential construction that resulted in rock bottom rents for decades. Then in the late 70's the tax system was changed that suddenly made apartment construction incredibly unattractive, plus cities really started to clamp down on zoning by down-zoning previously multi-family land into R1. That's where rental construction dropped off a cliff, and instead everyone switched over to these new "condo" things. They were not pumping out nearly as many units as the market for condos was smaller and they were seen as more risky short-term investments rather than long-term rental income. This is all spot on. Those "mom and pop" landlords used to be able to sell/refinance their smaller buildings and then not pay capital gains *IF* they reinvested their profits into more rental stock, aka give their prime lot to a better-resourced rental company and move on to something more reasonable elsewhere. It made it possible for smaller properties to get bought out by owners with more resources to afford building at a higher FSR, because the former owners were still able to afford something smaller elsewhere. Instead now you end up with short (3-4 storey) walk up buildings in super dense neighborhoods (Kerrisdale and South Granville are great examples) that the current owners don't really maintain, can't afford to sell, and aren't dense enough for the area. (Of course this is the purely neoliberal answer. The REAL answer is that ever since the 80s we haven't had a national housing strategy or unified funding pool for housing, it's had an enormous impact on everything from social housing to co-op housing to, as above, market housing. We should just socialize housing outright but LOL).
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Dec 2, 2021 23:03
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Don't make me tap the sign. (The sign says "Induced Demand")
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Jan 3, 2022 20:20
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| # ¿ May 9, 2024 22:50 |
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"My home is a heritage home, which is why I don't have to pay property taxes and am not subject to new zoning promoting density.  "gently caress outta here, treating houses as sacred artwork while even one person lives outside is criminal stupidity.
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Jan 30, 2022 20:25
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