My late fee is $285 if I’m a day late, and then an extra $70 per day past that…
For comparison, in 1993 in Vancouver, it was “first month’s rent if $550 for a bachelors suite plus a month’s rent for damage deposit, plus two references and proof of employment, no pets, no smoking, overnight guests for more than 3 days forbidden.” By 2003, it wad what Toronto was seeing in 2013.
Forgot “no visitors”!
It that the landlords demand or is the private agent working for the real estate manament organization working for the the assets managment firm working on behalf of the foreign investor (who may or may not actually exist)?
Yes, and also yes!
Foreign ownership in Canada is largely overblown and just gets used as a talking point by the politicians. We probably have more politicians who are large landlords than foreign owners
Overblown or not the situation I mentioned here is my current one owner is in China and has about 12 units in this building. But it’s been suggested the owner is actually a company. And the name on my lease is made up. Propety mamagment has no idea who actually owns the place and doesnt really care. Its not too bad though, just can’t get anything fixed and the place is falling apart (building only about 2 years old)
Last one was local/from india (he kept moving back an forth) and it was much worse because they could harras me in person. Long story. Worst person I’ve ever delt with.
One prior was also from China, very old fellow seemed nice even called us once from China at what must have been very late hours for him. Agent said he had like 27 units in that building and likly had dementia. He was ok but the agency on our end was pretty annoying also the place was way overpriced.
That may be your anecdotal evidence, but statistical evidence from Canadian Housing Statistics Program shows that non-residents only owned about 2 to 6 percent of Canadian residential properties in 2020. That’s entirely insignificant in the grand scheme of things.
I’d say the actual problem you should be worried about is the fact that nearly 40% of our MPs are invested in real estate creating a huge conflict of interest when it comes to policy they pass https://www.readthemaple.com/nearly-40-of-mps-invested-in-real-estate-during-housing-crisis/
Our government is run by landlords, and that’s why rental prices are the way they are.
@yogthos it’s true that overall foreign ownership is small. However those homes are located where most canadians live, Vancouver, Toronto etc so the effect is amplified. eg. no foreign ownership in say Big River Saskatchewan. I live in BC and there are completely empty tower blocks nearby.
My point is that foreign ownership is a red herring. If we passed a law tomorrow that banned foreign ownership, the prices would remain exactly the same in the hands of domestic landlords because we’ve commodified our housing.
