%8-10 increase on lease renewals is awesome! Here in BC we have the controlled increases set by the NDP, that are well below inflation, increase in cost for strata payments, property taxes and insurance, not to mention mortgage rate increase. Essentially, what that means is that landlords are paying extra 500-1000 a month just to keep the unit, and that's if they purchased it a decade ago, forget the people that purchased during 2021-2022 heights. Seriously considering selling and purchasing in Saskatchewan. You guys have lots of freedoms there. Here, if you want to evict a tenant, you can only do so under the pretext of family members moving in, give tenants 4months notice, pay one of those months for them fully, and then have to have the close family members live in the dwelling for a year before re-renting it again. Just madness. Property owners should have more rights than that, in my opinion.
Rent control will decrease investment in housing availability. If costs are high but rent doesn't follow to adjust with costs, no one will invest in housing. It will affect renters and landlords alike.
if rent control is the only thing a landlord needs to worry about you have a good problem! I would say in Nipawin rent use to be like 2 or 300 bucks no one invested, people started renting for higher rates and it brought the private landlords out of the wood work and starting to try again if you are not making profit like that guy said to make it worth buying more how does one keep up especially when not everyone is a perfect tenant. Excellent info!
%8-10 increase on lease renewals is awesome! Here in BC we have the controlled increases set by the NDP, that are well below inflation, increase in cost for strata payments, property taxes and insurance, not to mention mortgage rate increase. Essentially, what that means is that landlords are paying extra 500-1000 a month just to keep the unit, and that's if they purchased it a decade ago, forget the people that purchased during 2021-2022 heights. Seriously considering selling and purchasing in Saskatchewan. You guys have lots of freedoms there. Here, if you want to evict a tenant, you can only do so under the pretext of family members moving in, give tenants 4months notice, pay one of those months for them fully, and then have to have the close family members live in the dwelling for a year before re-renting it again. Just madness. Property owners should have more rights than that, in my opinion.
I appreciate the out-of province perspective!
Oh landlords are making profit. They are the only ones who are still in positive in all of this
I may need a mortgage on a rental in Saskatoon. If it doesn't sell, I would place a mortgage on it. Currently all in cash.
If you need assistance with the mortgage please email ron@ronqmortgage.ca I'd be happy to help.
Rent control will decrease investment in housing availability. If costs are high but rent doesn't follow to adjust with costs, no one will invest in housing. It will affect renters and landlords alike.
if rent control is the only thing a landlord needs to worry about you have a good problem! I would say in Nipawin rent use to be like 2 or 300 bucks no one invested, people started renting for higher rates and it brought the private landlords out of the wood work and starting to try again if you are not making profit like that guy said to make it worth buying more how does one keep up especially when not everyone is a perfect tenant. Excellent info!
Thanks for the input!