$100K to get out? Landlords say they’re facing outrageous 'cash for keys' demands
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- เผยแพร่เมื่อ 14 พ.ค. 2024
- Some small landlords say they're facing outrageous demands from tenants to hand back the keys. CBC's Ioanna Roumeliotis breaks down what’s behind the rise in "cash for keys" deals and why advocates say it's time tenants got the upper hand.
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You stifle debate and discussion when you close off comments. That’s not the role of any broadcaster.
@@johnransom1146 they are not journalists anymore they are commentators offering opinions for the state
CBC censorship at its finest :)
no, because you wokesters will get tons of criticism, and rightly so.
It's anti free speech to close discussions while you get taxpayer dollars.
The Middle class fighting the lower class while the upper class laughs and counts its profits
This.
Lower class meaning the landlords, right?
Canada needs more permanent rental properties. Government is responsible for this mess
Nailed it 👌
Woefully oversimplified but perhaps not wholly incorrect.
The government has created so many problems. This isn't a landlord or tenant issue. It's a government issue.
Welcome to Canada.
That is why it is call Criminal Justice.
Criminals has more rights than average Canadian.
@@cosmoray9750 feels like it.
Government is guilty for tenants that don't want to move out? Are you kidding?
The Government has a part in this the renting situation is out of control and developers are making things more difficult @@user-ct4no9hx1t
It's a greed issue is what it is, either on the part of the landlord, the tenant, or both. The real problem the government has created is a housing shortage all thanks to irresponsible immigration combined with sky-high inflation and stupidly high interest rates as a result of printing too much money in a short period of time.
That tenant advocate is the biggest clown out there.
His argument boiled down to “landlords make money = bad, therefore SQUATTERS RIGHTS!”
he gives off sociopathic vibes
My grandma passed away, the house was rented out, the person renting didn't want to pay and leave. So, I took my mom and just moved into the house while the tenant was staying there.
The tenant soon left.
Sometimes you just gotta play tough with tough people.
Sometimes you just need to sell the property to someone who needs it. Stop being greedy
@@geoffreyhigginson5290 Defending your property against someone who is trying to take it is not being greedy. That doesn't hold up by any reasonable logic.
@MekarWB they are profiting off of someone else basic right to live. Investors own the % of the market, reason for inflation and high rental prices. You must own multiple properties otherwise you would understand all of this. How's this for reasonableness?
And bring some lazy friends who can "out lazy" the tenants.
@@geoffreyhigginson5290You are wrong! I am a renter very limited income, and guess what I pay my bills. The property owners are expecting that income to pay the taxes on that property. You’re living in, keep up maintenance and to survive themselves. You want free rent go pitch a tent!!!
Why was there no attention given to the broken Landlord Tenant Board?? Regardless of who’s in the wrong there’s no excuse for such painfully slow adjudication of cases!!
Agreed! This is my question, too!
They should also have more strict rules on service bc landlords can steal mail easily and the person wont even know there was a whole trial and decision made against them.
I agree. I believe the gov should be liable for forcing us to follow rules they are too incompetent to enforce. Should be able to sue them for that.
Canada needs more permanent rental properties. Government is responsible for this mess
@@todddoherty3440there was a class action lawsuit from small Ontario landlords against the LTB but the courts didn't certify it so it couldn't proceed
The problem with the LTB, and the current landlord tenant situation, is it only benefits those who are willing to act unethically, on either side.
Aka landlords
@@AcctistaZ If your contract says that you must leave within 2 months of having given a notice, and you have signed but you decide to stay, that is unethical, no matter from what angle are you looking from it.
@@AcctistaZ Social and coop housing can alleviate shortages but the vetting processes will not be gratifying...
Tenants only behave this way coz they know they can, as LTB, housing authority ... all back them.
if you spend anytime in the LTB, cases, by far the tenants get way more than fair treatment. Many of the people listening to the cases are tenants themselves. The fact is your can't be a home owner and pay a mortgage on the wages made by the LTB. So the thought that some how landlords are getting away with anything at the LTB is laughable.
If you sign a 12-month lease, both sides should honor it. If the tenant fails to pay rent, the rental agreement should be null and void and an eviction order should be enforced without the non-ending legal path. That simple…
It my be a good idea to make winter eviction prohibited since being put onto the street can be lethal.
Then the state should compensate you. If the law prohibits it then the law should account for it as well@@An_Attempt
Eviction orders are enforced - by the LTB. Landlords cannot evict, only the LTB (via the Sheriff) can evict. This piece is about delays at the LTB giving tenants a well-deserved advantage of time. Also, tenants can bring their own concerns to an eviction hearing, such as poor maintenance, harassment, illegal evictions (renovictions) etc. They can withhold rent by paying their rent in trust to the LTB until disputes are settled. Housing is not just the simple matter of a contract - housing is a human right and the federal government has affirmed this by its ratification of the UN Covenant on Economic, Social and Cultural rights, dating from THE 1970s. People have to have an affordable, decent place to live. It's not an optional luxury. So the situation is "complicated" by human rights.
Sadly these human rights laws come into place because of abuse from the other side… when tenants have been treated in general as a feed bag, and then landlords want consideration above and beyond the laws that they were or should have been aware of is absurd
I'd rent the place to some 20 year old partier who wouldn't mind sharing the unit with a family.
The rental advocate: "I think fraud and extortion is great when it's my team"
What you’ll end up with is small landlords selling the property to corporate landlords or consortiums. Due to the legal and financial resources of these entities the tenants will really be screwed then
Already has been going on for years in the Maritimes.
@@trudy-annsmall9600 Small landlords have been selling to corporations and consortiums long before this situation.
So true, I used to call the WEF and such those dreaded "conspiracy theories." Well, read their website, flooding with immigrants is high on their list, soaring demand for housing far outstripping supply and poof! We have the mess in housing. We are depriving our youth of any chance to enter the housing market, all for Trudeau's globalist, elitists masters, sick and disgusting! Canadian PM should have only 2 equal priorities, they are; 1. Canada 2. Canadian citizens. Everything else is way down the list, but Trudeau's loyalties are clearly to the WEF, UN, WHO, ANYTHING but Canada or Canadians.
"You'll own nothing, and you'll be happy....."
Sadly, so true! I do have some hope, if Poilievre does even half of what he's indicated he'll do, we should be fine.
That's assuming Trudeau doesn't rig the next election. But the owning nothing is a line that cannot be crossed, if a Canadian gov't goes that route, then we need a young man to rise up and take our country back. But a revolution should be an absolute last resort, but if the gov't goes that route, what other option do we have?
I'd never wish for one, but that's where George Washington and Oliver Cromwell came from, sheer oppression, populace says ENOUGH! Gov't is playing with fire on this, hope they do an about face and soon. @@bkgdnoize111
I've been a landlord and I've been an tenant (simultaneously for a period of time). There's too much BS on either side and people are just too unreliable. It's not the landlord's job to solve the country's housing issues. Now I just own one home and won't invest in real estate anymore.
Good, landlording is not a real job. collecting rent contributes Zero to society
@@zackgravity7284yeah but you would think REI landlords act like they invented a new profitable business.
@@zackgravity7284 There are people arguing very passionately for either side. Best way is just to stay out of it and live a peaceful life.
@@zackgravity7284 Landlord contributes a lot to society. They took time and money to invest so tenants can have places to rent. Without landlords, builders won't build, tenants won't have a place to stay. They are the key to drive the market and have more properties built.
@@DS-rw5zz they do nothing the government couldnt do with less expense to renters
A similar issue existed where I lived in New England. A trend of difficult tenants eventually caused most private landlords in the area to sell their properties to rental corporations, which were not willing to negotiate with tenants and not only evicted them, but sued them for back rent, damages to the property, and attorney's fees. If tenants aren't willing to negotiate with their landlords and settle on a reasonable cash for keys agreement, they may find themselves not just facing higher rents to make up for rental risk, but corporate entities that have little patience for non-paying tenants and greater resources to pursue lawsuits. Tenants in this story may seem to have the upper hand now, but it will result in a rental environment where all tenants are worse off in the longer term.
Absolutely spot on !
Those companies bought at a high price and rent prices will reflect the high purchase prices and lawyer fees.
This is basically the USA during covid shutdown after the unlocking period oh boy did they pay hard.
Exactly
Yes, my tenant moved and less a horrendous mess. Now I am selling. Would not risk this again. Tenants will get what they deserve putting small landlords up against the wall like this.
Aren't contracts signed between owners and renters? Canada is not enforcing property rights and is failing to fulfill their obligations.
See n12 document
This is what happens when you let governments and banksters conspire to treat housing as a speculative investment instead of what it is - a place to live…
Bingo. Very Well Said.
That's exactly what I thought when they said that people bought the houses when interest rates were low and now they want to sell them because they can't afford the balloon payment
the tenant can still get touched out in public 😉😉
Exactly
Exactly right!!!
This is why I put my money into the stock market, not buy a second home, after I paid off my mortgage.
Agree
I agree, i only want one home. I dont want to have to be responsible for other ppl so i will invest in other things that dont demand so much responsibility but can make money just the same. I think these professional landlords just want to control others bc its not worth it and im struggling to understand why theres so many who insist on investing in housing. Better off investing in commercial rentals instead, makes no sense tbh
Agreed. A second home as a rental is not worth the headache anymore. At least not in Canada. There are better investments with minimal stress that still produce a good ROI.
Idk why these landlords always cry lol. YOU made an investment without any risk management and now you are mad it’s not working out.
We did the same. Invested in the stock market and our home is paid for. We still have an empty studio, and we will continue leaving it sitting empty.
Canada does not have eviction ??? That’s ridiculous! One more reason NOT to live in the crazy place called Canada….
Are you high? Your not allowed to evict someone just because you want to sell your property. You have to honour the rental agreement, so if your 1 year into a 5 year agreement you can't just kick them out lmao.
If you want to sell your property you need to bribe the tenant to leave or sell the property with the tenant and the new owner has to respect the lease of the renter.
Who rents out their property for 5 years? No one in their right mind would purchase a property with a tenant in it I mean look at their entitlement. If youre smart you go mth to mth if youre even smarter, you dont rent out at all, too many deadbeats who think they somehow have an investment in whats yours. @@Rrezz
@@Rrezz Oh yes you can evict someone to sell the property, but there is a process in place for that with a series of forms like the N12. Leases are typically 1 year, not 5 year. So landlords can time it so the tenant is evicted by the end of the 1 year lease. Tenants don't need to be bribed but are due compensation for any months left on the lease after eviction.
tarablue4472 depends on a lease duration. Tennant ts have been screwed for a long time
@@5plus4 What did you miss about my mentioning of leases. Please read and read again before replying.
No way in hell I'd be a landlord these days.
I'm with ya. I'm a lifelong renter and sometimes I dream of home ownership. You think I would give up a portion of my property to renters? For rental income? NO WAY. Professional tenants hurt small landlords in the immediate term but hurt renters in the long term. This will only disincentive small property owners and thus reduce rental supply.
I wish this topic would have focused more on the delays of the landlord tenant board tribunal, they are the root cause of all the current issues with the renting in this province, cash for keys is merely just a byproduct of the abysmal wait times
Don't worry, now that it's affecting landords Ford will move heaven and earth to move the backlog along.
why dont we talk about the root cause? 1M people coming here in 1 year maybe?
It's also the injustice of the system. The tenancy boards are biased against landlords and Tenants can appeal and stall the eviction process despite not paying rent.
@@alexg9727 there are 2 causes. Supply side and demand side. 1M (or whatever the real # is) supports this economy and the buckling medical system. Also gov't hasn't streamilined housing projects.
Agree. Landlords: imagine being forced out of your home in an instant. Tenants: imagine your life savings being slowly sucked dry. Result is the same, it's just the timeline that's different.
I'm sorry, but if a tenant is still under contract they are under contract. If you sell your property and it's still under contract then they have a right to finish out contract. If there is no contract then the landlord has they right to kick a tenant out. This is crazy.
you can get your head pushed in tho
While that's very true, I don't like the responses from some of these tenants. Not only am I not leaving, but I've decided to stop paying you as well. Wait, what? At that point, you're just stealing.
Now, with that said, housing all around the world is screwed up for a number of reasons. Artificial scarcity has made it such that homes are an investment, instead of a place to live. One of the easiest solutions is to build more housing. Of course, those that already have houses let elected officials know, uh, no, don't build more housing because that will bring down my property values.
@@dontbanmebrodontbanme5403 veey well said. And this tenant representative is a complete moron. So if I live outside, in a tent, then he with a roof over his head even though he is renting, is more privileged than I. By his own logic, I should be able to come in to his apartment and move in and pay nothing. He as a tenant should pay me 20k to leave. How obsurd. People used to do this in late 80s and early 90s and you would just have to hire Eddie Melo back in the day and they would leave the same day..in a hurry. A lot cheaper. This opens doors to so much criminal behavior which is not what Canada is about. Take it out on your government. These landlords did not get these properties for free. It took decades of three jobs, no vacations, struggles,and sacrifices which I'm sad to say a lot of these tenants are not prepared to go through to get to landlord status.
@@Curling_Rackback in the day Eddie Melo visited me when I was late with my rent. I found rent money the next day. This still works today. I agree.
Please see my comment to @davidmcguerty8405, above. It's not just a contract, which itself would imply rights on both sides. THere is an issue of human rights; and besides, landlords have robust protections already in place. But they don't just have the "right to kick somebody out" as you state, the tenant is entitled to a hearing at which they can state their side of the case. IF an eviction is ordered, it is ordered by the Landlord and Tenant Board, who is the only entity which can enforce evictions. Landlords cannot evict, by law. You are granting a lot of rights to landlords but overlooking the rights of tenants, which I find curious.
My partner & I moved to Vancouver for work from Ontario. We found a 450 square foot apartment in our budget three years ago, always paid on time and took care of the property. We still received an eviction notice this week for landlord use. Our landlord refused to renew a lease with their other tenants on their property for their ‘mother’ moving in - who never did. Now, we are facing the worst rental market in Canada. This market is unaffordable for a working couple without kids with post secondary education.
First, if a landlord hands you an eviction notice for "landlords use of property" you are owed one month free. Second, if the landlord failed to actually move their family in, you can get compensation.
Definitely contact the residential tenancy branch, you could get a year's rent back.
And this is what happens when government gets involved in what should be free market enterprise.
I've been on both sides of this situation. I rented for years and often found myself at the mercy of greedy landlords. The legal protections for tenants very often either did not exist or were not enforced. Years later, I bought a small rental house with my savings. It came with a mortgage, of course. Then my first tenants refused to pay rent on time, then not at all, then they re-keyed everything so that I was blocked from the property. After months of this, I hired a group that offered ejection services. They broke into the property after midnight and forcefully ejected the tenants along with their belongings. The tenants notified the police who contacted me and demanded an explanation. I explained and the police did just as the ejection service told me would happen. Nothing. I cleaned the property up and sold it the next month. I would never be a landlord again for any reason.
Sorry for what happened to you when you had property. But when you were a tenant, what things did the
greedy landlords do to you? I know some cities may not have rent increase caps, but most do now. What
was your experience with landlords when you were a tenant?
“Ejection services” 😂
This is crazy 😂😂
Why not do right by the tenant?
As a tenant, you had a choice to move out if you didn't like a "greedy landlord," whereas a landlord with an abusive tenand is held a hostage.
Lawyer: ‘Unfortunately these tenants know their rights….’ 😅😅😅
The right to not pay rent? Shame on them°°°
@@elithiannyovneadar3042 Shame on you
These renters are exploiting people who may never have taken advantage of anyone. I'm saying this as a renter who has been utterly exploited.
Ya I’m not gonna invest in a second property… not until tenant board gets their act together… stocks the way to go… wait till more corporations own these rental properties - they will have pull and can get evictions done easier than regular citizens… then tenants will wish more people own rental properties instead of corporations…
invest in commercial property less problems
@5:29, this guy reminds me of child in an adult's body. Landlords are not your parents, pay your rent or get out, why is that so hard to understand?
That man if you can call him that. Is a spoiled brat.
cause they are communists
The higher the risks, the higher the rents landlords are going to ask for. The more tenants that dodge rent and make higher demands, the more other landlords are going to ask new tenants to pay.
That's a convenient one-sided view...Let me offer the other side - That tenants pushed to tent cities by greedy speculative landlords and the bubble they created....will continue to pull tricks like in the video....and complaining and criticizing tenants will get landlords nowhere....and as long as they keep the bubble inflated , they can expect things to get worse. The investment class is clearly partly responsible....clearly.
Months for an eviction hearing is crazy.
And not just eviction hearings.
Your landlord is harrassing you, or won't fix stuff, same months-long wait.
Doug Ford don't care.
Not if you're the one being evicted.
People are being booted with no reasonable places to go.
Whats crazy is if you own a private (not a rental) home in the US and someone breaks in and squats (illegally occupies it) that building for a certain amount of time, they are considered a legal tenant and the owner must go through exhaustive court proceedings to get them out. Its happened with some AirBnB tenants as well.
@@IMGreg.. that's why there is a hearing in the first place. Delaying the hearing itself is dumb
@@Enonymouse_This is an extremely broad generalization that couldn't be more untrue in my state as well as many others.
There are 50 states, each with their own set of laws on squatters. I doubt even a handful have squatters rights like you suggest
Exploiting others, whether it be the landlord or tenant, is simply wrong. Real estate in Canada is becoming such a nightmare for people on so many levels but it's indicative on how damaged our society can be or has become for a lot of people. I think if everyone made a concerted effort to operate with integrity and respect we would see our situations improve. I'm not holding my breath though, especially when our government is probably the most corrupt with the least amount of integrity and respect for its citizens.
The nerve of that guy telling boomers who are losing their life's work to just "suck it up". Really? I watched my mother and a few of her friends who already lost their houses over house squatters. This is just insane.
his empathy is not for humans who have worked and saved.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
See where the blame is though. People are the ones held responsible. That is where the power is. People have the power. People have the solution. Not government, not banks, not corporations.
PEOPLE.
Thomas Jefferson understood that People are responsible for their country, Their country isn't responsible for their people.
IF people think the opposite is true, they are complacent.
If they think the country is responsible for the people. Then they are just owned by the country.
But a country is made by its people. You can not have a country with no people.
@@DS-ld8ns but the 'people' are made up of investors into funds which are managed into divested portfolios which are then set to buy below certain thresholds & sell above others. Every person who makes up a component of this system is completely disempowered of any decision making, responsibility is divested so broadly that no individual can be held to account.
This is why you 'cannot' treat systemic problems as something that can be solved by individuals. This is why you can't rely on the moral objections of individuals to keep corporations from doing the 'right' thing without legislation legally obligating them to do-so.
@@DS-ld8nsWrong
@@InnuendoXP Yes
@@zeddymcdog5794 Actually it is a quote. Here is the complete quote: "If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies." The controversy is over who said it. It is often attrubuted to Thomas Jefferson, but that is unsubstantiated.
I used to want to be a real estate investor until I realized that it’s a really dirty business. This kind of behavior led to the rise of abandoned properties all over New York City in the 1970’s - 1990’s.
Yeah, cus when tenants decide to stop paying rent, the bank forecloses on the house. And the owner loses the property. Now no one gets the house smh
@@donnyjay4269 Perhaps also part of the socialist govt policies that go overboard in protecting tenant rights at the detriment of the owners.
@@donnyjay4269 and it is only going to get worse due to impending currency reset. Governments want to limit the ownership of everything and blame it on everything from Covid to climate change before hyperinflation hits due to impending current reset or de-dollarization after 2025.
The concept of "owning" land you're not currently using is just completely unacceptable in my view.
@@nobody.of.importance owning land is wrong to you? What if the land is legally acquired?
No enforcement = useless laws
Who is responsible for the majority of the cases clogging up the tenancy board? I've read that corporations have been using it quite extensively which sounds like a problem they helped create to me.
I could never imagine doing this to a person renting out their property but I've also been on ends of deals while renting where I couldn't believe what other people were willing to do to me, I see both sides of this issue.
Its up to the government to deal with this stuff and they really don't seem like they care to do that.
If tenants are not happy and feel being taken advantage of, they can buy their own home
Canada is becoming a country I don't recognize anymore. Time to leave.
I hear you, I walked down the streets of Downtown Toronto, the other day, it felt very dystopian.
Question is, where will you go?
@@yokiryuchan7655 anywhere but here.
@@yokiryuchan7655 winnipeg
Ok bye let me have your apartment
@@Viewpoint11 In a few years there won't even be a door -- more like a turnstile. Enjoy.
I live in Florida, if you sell a rental and someone wants to move into the place the person renting has 30 days to move out "with notice". If the renter refuses and has to be evited the renter can be held responsible for any money lost. My mother-in-law had to deal with a renter who refused to move out after she bought a place. It took 3 months to get a judge to evict the family and then they refuse to leave still. The police came in forced them out
Wow. I’m surprised the police did anything! In Las Vegas, they told us that it was a “civil matter” and they couldn’t touch it. Finally, we sent a guy there to talk to them, and they just left. After 3 weeks of Hell.🤷🏾♀️
@@erikaarnold4780 Once you have a court order, it's no longer a "civil matter"
No, you never recover the money. I'm in Florida and it cost me $1,500.00 to go through court. They found in my favor and I got zero. Nada. In fact, LINDA DOGGETT sent a letter to the evicted tenant, telling her my legal claim against her is due to expire. Basically, she was congratulating her efforts at avoiding paying me owed rent.
30 days is a ridiculously short amount of time for notice for something as messed up as selling the rental out from underneath the renter. Florida is a messed up place and your MiL sounds like a real piece of work.
That is fine. everyone knows the rules of engagement before becoming a landlord or deciding to rent. The people who are upset today (landlords or tenants) were either not aware of the rules or chose to pretend that everything would be okay and the rules would never come back to haunt them. If they want to create new rules (like Florida) for new leases that is fine and apply the old rules to the old leases.
"If a tenant knows their rights", they hate that.
Exactly.
There should be no "Upper Hand", it should be even straight across the board. The Land Lord and Tenants Act should be followed word for word....just to keep it even and fair for all...rewrite the Acts if needed in order to make fair
This just means that less people will be mom and pop landlords, which means, the rent will eventually go up even more
THE COSNERVATIVE WAY
keep voting liberals
We will thx., Con govts are terrorists @@delia93010
@@bonbonvegabon There's a reason everyone is moving to Calgary. People want conservative gov't results but keep voting left ruining the nation...
Exactly. Who wants to be a small ownership landlord. I'm a renter and I side with the landlords here. This will only concentrate rental properties to corporations.
In the U.S. if you owe money to a landlord it goes on your credit report. Good luck finding another place to rent because literally every landlord will run your credit and absolutely not rent to you if they see you owe money to another landlord.
Not in California…it’s now not legal to check credit reports OR check criminal records…it’s crazy.
@@ometofu quick google search and I didn’t find any law that said landlords can’t pull credit
@@charq52who would vote for that in these dangerous times of high crime ??
I only rent to to the elderly or those with spotless credit at this point. The entitled can be homeless, I truly don’t care for the well being of anyone demanding to use someone else’s property.
@@cherylschumaker1366democrats, obviously. Lefties are the only people who demand to use other people’s property. Socialist and communists run the democrat party.
All this will do is take even more properties out of the rental market. Not smart.
I owned two small apartment buildings in NY state. The pandemic ruined me. NY took away my property rights and ignored contract law. Most of my tenants decided they didn't have to pay rent. I also owned a house, which I just remodeled to be rented out .. the tenants stopped paying rent immediately. I couldn't go to court for evictions. It lasted a year and a half. I had put a lot of money in the apartments, remodelling them, making them a nice as I could. I did not charge top rent. My tenants could text me for any issues, and I responded immediately.
I sold everything with a huge loss. Our government is totally against the small business person. They want everything owned by the big guys.
Heard about those stories and was like ... the government knew what it was doing when it did that. Now the market and the restrictions are extreme compared to before because of landlords getting kicked out and those that remained well the aren't going to give anyone a free ride after that.
Makes one think twice about ever having a rental property
GOOD.
Don't. There are easier, less risky ways to make money. I rented out a condominium unit I owned. The woman renting was a deadbeat and owed me 6 months rent until I finally got her to leave. My father-in-law rented a house to a guy, and after five years tried to raise his rent 5 %. The tenant took a chain saw to the place. I'm convinced that buying farmland and leasing it to a neighborhood farmer is a better investment.
@@nobody.of.importanceit just discourages people from becoming landlords, which means fewer available rentals and higher prices.
@@Tom-yo7zf That's only if those units sit empty, if a family buys it to live in it wouldn't.
@@nobody.of.importance hahaha your hurting yourself you know that. How is that "good": for tenants?? Old Chinese lady on my block owned 3 homes, all 3 had 4 units in each home, for a total of 12 couples. The "investment" was sold as she was in her late 70's and her kids didn't want to be landlords (kids now rather take the money then the headaches of being a landlord) So everyone was evicted and all 3 homes were sold to rich people that renovated and turned the homes back to single family homes with no apartments in any of them. So it went from 12 couples living in 3 homes to 3 rich couples living in 3 homes, with a deficit of 9 couples thrown into the rental market. How is that "Good"?? having 9 more couples fighting the housing crisis? and 9 less units on the market?
The small landlord will disappear therefore less homes to rent…
I've always been a month to month renter, I balk at the sign of a lease. My last landlord wanted to tear down the house, build a new one and move in. He gave me 3 months free rent, let me leave whatever I didn't want behind and 500$ cash (my rent was 700). We didn't bargain, I thought that was fair so I accepted. I live in BC and this was 4 yrs ago. People have changed.
Well these rental laws definitely don’t encourage anyone to rent out their property creating a further housing shortage for renters.
It's still a positive step, because encouraging landlords to hold onto their housing investments means renters aren't able to stop renting, which is what really needs to happen.
Maybe if landlords let go of their investments, supply would increase and prices would go down, allowing renters to afford a mortgage.
Great!
cant. arenter be removed if they are on a month to month lease?
That's good, because housing is a human right, not a business. Hoarding houses shouldn't be a thing.
All the good renters are taken. My brother rents and he's worth more than 100 million dollars.
Don't pretend that there is not a huge housing crisis. There is no housing to move to. Rents have tripled in tandem. Tenants are making these asks because they will lose the security they have and can't afford even more. They are most likely struggling to make ends meet as it is. Living expenses have gone up. They don't want to end up homeless. Tenants are hard working Citizens too and that rent goes back to the owner investor. Stop blaming tenants! This is the result of a housing crisis that was ignored for a very long time.
not to mention the amount of BRAND NEW HOUSES that are built and are put on the market as a RENTAL and not as a sale. it’s absolutely insane and ludicrous.
The tenants should question the government who doesn’t have property regulations to control the crazy housing and rental market, instead of ransoming the landlords. That’s intolerable.
Triple? Don’t lie. Show the proof. Home owners paid 50% more at least last year
@@05350Guess who were the type of people voting against any regulations for housing, landlords themselves.
Oh sweet irony. 😂😂😂
Nobody is blaming all tenants, just the ones that trash places and stop paying their rent
Can’t believe the so-called tenant’s “advocate” (Jordie Dent) thinks extortion is ok. He has no logic, no scruples, and doesn’t understand the law. I’d be embarrassed. Shame.
A tenant enters into a lease contract to pay monthly rent for a limited period of time. If they stay beyond the time, they are thieves. They should also be reported to the credit bureau.
I think the word is sent to jail and belongings seized until debts are paid.
These kind of tenants do not care about credit reports.
So if the landlord cuts the contract short, the tenant deserves compensation. As the contract has a time limit, no more but no less. And the troubles incurred by the tenant by the owner's change of practice should be paid, as the tenant has a reasonable expectation of his/her living situation being stabilized for, at least, the duration of the contract.
@3:36 "Well if you have a tenant who knows their rights and who knows that they don't have to leave because they have the right to remain in the unit until a hearing is held."
As opposed to having a tenant who doesn't know their rights and can be urged, manipulated, intimidated, coerced to leave.
Yea you also have a right to a speedy trial in Canada but I don't see no tenants talking about that now do you? Wonder why...
Nope this is incomplete story. Tenant can exercise their right and wait till hearing then landlord can upload that ruling on public domain which is accessible to everyone. Good luck finding another rental. If tenant chose not to pay rent then landlord can report to credit and good luck getting any loan in future.
How do you report to credit for tenants who doesn't pay rent
@@Kash568 Excellent comment
And I am sure they are paying rent to cover the heat, electricity, and property taxes that they are using lol
Never put yourself in a position where if rent isn't paid , you risk losing your property.
That’s as ridiculous as “Never put yourself in a position where if your wages/salary isn’t paid you risk losing your home/car/livelihood “. You want free housing? Ask the government! Free food? Head to the food bank. Private enterprise is not welfare!
This disgusting and delusional entitlement is what’s wrong with society. Absolutely no difference between your analogy and scammers overseas rationalizing stealing from Canadians because “they have more money than us over here in poverty riddled country of XYZ”. Pay your bills and quit stealing.
That's what every landlord does. The rents are required to make it worthwhile.
@@AndrewGBernhardt , I get it , but if every month you're walking on a tightrope , maybe you shouldn't be in the business of renting out property. You have to be aware of the risks , crying when rent isn't paid is just plain useless.
@danielesbordone1871 When people were generally more respectful when using other people's stuff, the risk was much lower. If landlords stop renting then things will get way worse.
Exactly
The guy is wrong to say that tenants can ask for six figures. What a dunce.
Nah
@@YumikoFang lol really? You traumatize that landlord he’s never going to rent his place ever again to the the next person that needs a place to live… awww eff the next tenant haha
Jordie Dent needs to be criminally charged for counselling people into extortion.
In other words don't be a small time landlord in Ontario.
Just listen that guy .. he is entitled 😂😂😂.. why work just because you feel you've work too hard already.
Many small mom and pop investors are selling because of the slow and biased Residential Tenancy Board in BC as well. People still can't see the correlation between entitlement of tenants, lower rental supply, and increased rental cost come hand in hand when the system discriminate against rental operators
is this only in Ontario? seems like people are getting evicted in Alberta...
@@checory Part of the problem is the lack of purpose built rental buildings and zoning laws that limit a lot of land to strictly single-detached homes. Plus, owning a rental property is like owning any business, there are costs and risks involved, and most mom and pop investors should have put their money in index funds, ETFs, and other stocks, bonds, and term deposits.
@@checory they're selling? Good, rental estate isn't an investment.
Funny how this doesn’t make any mention of the renovictions trend of landlords over the past few years to force tenants out so they can become an airbnb. Where’s the file cabinet for those? STRs have been a huge contributor to the housing crisis, because each LTR converted into an STR means additional competition to find housing and less housing that can actually be lived in. This is on top of the issue of foreign investors buying housing and letting it just sit empty. We don’t have a supply crisis, we have a useable supply crisis.
Funny isn't it when the table us turned...
Ontario is responsible for this mess. The province refuses to fix the LTB...
Solution is simple. Don't go to courts. Make sure to mention terms in rental agreement about how many rents a tenant is allowed to miss. After missing those amount of rents, landlord can reclaim property by force or with help from cops considering tenant as illegal property occupier. Being nice doesn't work here. Keep no nonsense attitude.
I definitely get a sense out of this piece that everyone who is not a landlord hates landlords. Clearly, tenants feel very much taken advantage of, and they’re willing to give them a taste of their own medicine, without nuance. I imagine things are going to get a lot worse.
I love my landlord. She is a dear old friend. I'm lucky.
I own my home, and yeah, I don't feel bad for these landlords. Investments have risk, they didn't have to make buying extra homes their business When we were in condo/strata it was usually cheapskate landlords that not only never wanted to volunteer for council/board but also wanted to vote against any expenditures and don't care about living conditions of residents, either their tenants or owners who occupied these units as their homes. Houses you can usually pick out which homes were used as a rental for years based on the lack of exterior maintenance.
@@user-lt9pq9fr5zhow about professional Tenent’s going from one house to the next pulling off these schemes to get free rent? Defrauding system. Tenents are getting clever.
Landlord now buying doing short term rentals or midterm rental under 6 months and renewal every 6 months. Long term of 12 months has rights. Mid term can be evicted immediately as trespassing 🙂
Nobody forced tenants to rent from landlords. Why landlords have to pay the ransom to get their house back. Can’t believe the Communism is ruling Canada now.
@@user-lt9pq9fr5zpeople have places to rent because people buy homes to rent out. Supply vs demand. But at the end of the day it is a service with landlord taking more risk. The risk a renter takes on is rent prices changing and not having any rights to the property. You can’t just take away responsibility or the pros and cons for being a renter and just blame the landlords. Just like some landlords don’t maintain their properties some renters destroy the places they stay at or destroy it before leaving. It’s not just an evil landlord thing… some people r just shitty
more and more landlords who can afford it are not renting their properties just to avoid problems. Too bad for the honest renters.
Yup I personally know of more than a few local properties languishing from disuse and neglect.
If we sort out the housing crisis before they go back on the market thats how they will stay.
The correct term is landleech.
Definitely better to have it empty then being extorted while the government mandate all these rules against landlords
Unfortunately being an honest renter does not protect you from unscrupulous landlords either.
The issue is that this pushes out average/mid income people that save and invest a bit from being landlords and caring for the property and tenants, and encourages big corps and wealthy people to invest in real estate instead. The trend is to invest right when or after times are tough. Those landlords have enough money and lawyers to make life hell right away for tenants doing sketchy stuff, maybe even find them and sue them after.
So in the end everyone loses except for the super wealthy parties.
The landlords that have 1 property and the ones that have 20-200-2000 will not deal with the tenants in the same way. Litigation is prompt, precise, and hardball instead. They know the laws, rights, and have real estate lawyers on retainer, if not as a department. That's where we're heading now.
The days of having a tenant finance your retirement should never have happened in the first place.
You think that a landlord renting out a basement unit for a home owing 1.4 million (average in toronto) at an interest rate at 3.2% (a steal today) paying Garbage/water/heat/electricity/ property taxes (8 to 10 thousand a year)/ insurance/ repairs is financing a retirement off 2,000 a month on an apartment? whatever calculator you used to work that out, I'll buy it off you.
@@gabe9671 singing the Boo Hoo Blues.
@@scottdavis1549 huh? did you even read my comment? lol I asked how did you come up with the conclusion that somehow small landlords are financing their retirement? Your math as far as the Toronto market is concerned, doesn't add up. But if you found that it does, we would all love to hear it.
@@scottdavis1549 Stop wasting time with your "Singing" bohoo garbage, where is this house you are speaking of? that I can finance my retirement from? do you have it? or do you know the person that wants to sell?
This is criminal behaviour - pure and simple. Take it away from a landlord tenant board, and let the police deal with it. Criminal trespassing, if the lease has expired, or proper notice has been given.
I used to rent houses back in the 1980's in Toronto. We paid our rent every month on time. When owners wanted to sell, we were given the number of months' notice that was agreed upon in the rental agreement that we both signed. We looked for new accommodation and moved on the agreed-upon date. No fuss, no argument, no refusal to leave, no extortion - and this IS extortion we're talking about in this story. If people have an issue with crappy landlords or shitty tenants, it should not be taken out on ALL landlords and tenants. Bide by the signed agreements. Period.
Agree.
I agree as well - just because one CAN do something ("cash for keys") doesn't mean they should. I have rented for decades and always paid my rent on time (as per the tenant/landlord agreement) and almost without exception the landlord/owner kept up their end of the bargain. I found the attitude of the renters advocate appalling - his "us against them stance" can only contribute to a broken and distrustful society. P.S. I realize, of course, that there are horror stories from both sides of this issue (owners/tenants) so I count my blessings.
Are we talking about immigrants who are bringing their thinking from their former country into their new Country? Just saying.
The renters advocate is simply going to scare people into never renting to anyone! Short sighted and that attitude will for sure have unintended consequences of there being even less rentals.
Back in the 80s, even early 2000s finding another apartment was a lot easier, nowadays, finding an affordable apartment is almost impossible. (With the skyrocketing rents, low availability, and tenant competition.) If i lose the apartment im living in now, i would have to leave my city entirely because how unaffordable housing has become. Its just getting worse and worse every year unfortunately. Im not okay with ppl extorting though, i can just see both sides.
Never thought I'd feel for a landlord. That poor lady w her kid, and the scumbag who didn't pay rent, then subleased out a property that wasn't even his.
Renter was a woman. They leverage kids and all other tricks unlike no man
@@somewherestuckinl.a.3239 Everybody knows why you became a landlord: EZ money, not much effort. Karma's a B___ch!! HA!
@@kathrynj.hernandez8425 If its so easy why aren't you doing it
Thank you @@Zero11_ss
@@kathrynj.hernandez8425 if it’s so easy, why don’t you just buy a house of your own?
because Landlords will say they are gong to sell the place, then kick you out, and in the end put their family in there. Unscrupulous
I heard a rumour that they are going to start investigating some cash for keys cases as criminal extortion after all of the tenant review board cases start catching up. All these criminal renters who decide to not pay and ask for cash for keys might face criminal charges. Ironic for when they try to rent and have a police report and can’t rent. Or they can’t get a job because of a criminal extortion charge.
I have to admit that my landlady for 14 years was very good to me and my daughter. When she put the house up for sale,i was offered it but my bank only allowed me X amount for a mortgage. I bought a home for $105,000 3 years ago. My 14 years of renting ended with a monthly cost of $650 a month, slightly more than I'm paying now for my house.
Congratulations on your purchase and great story. You obvoiusly do not live in a major city where the average is now $1000 a bedroom.
If you bought it 14 years ago for $30,000, your payments would be $160 / Month and you will have $70,000 equity in your home.
@@c.s.4845 Ha! In Toronto you're incredibly lucky if you can even get a 1 bedroom basement apartment 30 minutes from downtown for under $2000. If you can, you better believe it'll be run down and full of cockroaches or bedbugs.
My 3 bedroom townhouse in Ottawa west end was competitive 13 years ago at $1200/ month now they want $2000/ month for the same and the landlord doesn't do repairs or take forever and get the cheapest worst rate
Rents were reasonable 15 years ago. Based on salaries and house prices. When house prices tripled and salaries clearly couldn't a problem arose and it's caused a list of tension today. Obviously but That's today
This hurts both parties because who want to rent their place? And tenants can’t find a place? So no one wins…
Exactly. The tenants don't want to leave because they don't know if that'll essentially mean they'll be homeless. When the damn breaks and all of these people are kicked out, they'll meet the housing crisis and will struggle to find a place to go. I hope some of them can go to less populated areas that have vacancies. But many people need to live in the same city because that's where they work. The government should offer benefits to employers that transition office jobs to work from home so that more people can at least have options of where they can go.
@@talyahr3302exactly this. Not paying rent should be a reason to kick a tennant via the courts.
But just wanting to sell a home that has a tennant in it should not be reason enough to break a lease. With the growing housing crisis, that could mean the tennnant might not find propper housing or any housing in time and risk becomming homeless just because the place he was renting got sold and got kicked out.
Thankfully i live in a country where just selling a house is not reason for breaking a lease and selling a house with tennant is a different process than regular housing market.
Or also what is shortly adressed in this vid. What if a landlord kicks a person out due to "intent to sell" and then never sell or put it on the market for an inpossible price just to turn around and take on a new tennant for a higher lease because the current tennant got a lease when the housing crisis wasnt as bad or the neighbourhood was worse.
FORD HAS DESTROYED THIS PROVINCE
@@talyahr3302 They're making things worse for themselves because they will eventually have to leave/be evicted, only to re-enter a market that's had to respond to such tenant behaviour in ways that will make their lives far more difficult than it is now.
@@talyahr3302 The blame lies with our government. They knew this would happen I believe. Our daughter had to move almost an hour away from us to find a place she could afford too. It's awful what's going on. The wages and the rents aren't in balance. How are people supposed to live? There used to be hope in our country for a better future. I'm not seeing it anymore for our young ones. I'm seeing poverty. Our government has been incompetent in my opinion.
I was a landlord once. Tenants are a menace. I’ll never rent out a property again.
you can't evict easily if they do not pay ?
@@Mark-cq8bs not in ontario. and when they do finally leave, good luck getting your money back
These tenants are absolutely taking advantage of the system, the government is to be blame for this...all landlord should have more rights.
Back in the 80's, I knew a few bikers in Toronto who for $1,500 from a landlord (Adjusted for inflation, around $6,000 today) would go over and have a short chat with tenants that weren't paying their rent. If tenants didn't get out within a week, they went back and broke bones. Their eviction success rate was 100%. That's a justice system that works.
that is exactly how the mafia started, when the rule government failed to uphold a fair system, people saw a need and Mafia was a solution.
A had friends who did that for a living. His specialty was breaking kneecaps from the back.
This is idiotic. why bikers? Bikers dont get involved in BS like this, why would they? 1500$ is nothing when you compare it to spending years in prison for home invasion and assault causing bodily harm? I call your story BS.
The behaviour that you are glorifying is illegal and honestly just trashy.
I live in a partially finished detached mother in law apartment above my garage and was renting out the house itself. I didn't need that much room after the kids moved out and thought I'd help someone get a reasonably priced place to live. I only priced rent at about 3/4 of the estimated rental price for the house, living pay check to paycheck myself. All I got for my troubles was taken advantage of financially and a demolished house. and that was BEFORE these tenant protection laws. I stopped renting the house out after the last tenant left. I will never retire now.
Curious about your vetting process. Credit checks, bank statements, reference checks, income verification. All of these were required in the last place I rented, it was an upscale apartment community.
I am so sorry to hear this. Even good background checks can miss a lot.
@@Chicago_jake I wanted to make the space available for a lower income family because I had a hard time finding a rental myself when I had 3 kids and never quite enough money. My good intentions got me screwed over. Never again.
So sorry to hear this! Even when you try to do good at your own sacrifice, selfish people can screw you over.
It’s sad your heart was in the right place. But people take advantage.
One landlord/tenant rule : you don’t pay you don’t stay, period !
I could never do that to a Landlord. Its unethical and brings bad karma to yourself.
How did renters get the right to extort money from the owners of a property?
You can't evict someone because you want to sell your property. So your forced to either bribe the tenant to leave or sell the property with the renter. The new owner of that property has to follow the renters lease until it expires. So if a renter has 4 years left on the lease the new owner has to let them stay for the remaining 4 years.
As a result the number of people who would want to buy a property with someone already renting it are low because who wants to buy a house they can't use for 4 years. The only people would be investors looking for property to rent out which is a very small percentage.
This means that a $800,000 house is probably only worth $500,000 because you can't move into it for 4 years and nobody is going to want to deal with that.
Asking for 100k is a lot better than forcing the landlord to sell their property at a $200,000-$300,000 loss.
@@Rrezz Thats not true, if you buy a home and the home is purchased for the purpose of living in it, you can go to court to get the tenant out. The tenant has every right to put an offer on the home when the house was put on the market. We live in a free society where everyone can put an offer on a home unlike other countries.
4 years ago, I lived in my unit for nearly 9 years. I had wonderful landlords. The longest dwelling tenant in our building was 22 years; shortest, 4 years and others, were roughly 8-15 years. Our landlords were elderly. Sadly, the husband passed and the wife was pressured by the children to sell. She sold to a consortium; and within weeks of the sale to the consortium, all tenants received a letter advising us that the building was in need of major repairs and all tenants had 3 months to leave and the company would compensate each tenant with 3 months rent and moving cost.
Sure our building was not new, but our our landlords were decent, and maintained it relatively well. Long story short; the consortium had no renovations done to the exterior or the general structure of the building. All they did was knock out the bath and kitchen; and 6 months after, units were rented out at huge mark up.
Knocking out bathrooms and kitchens are not major renovations to you?
It's called business. Welcome to capitalism and inflation. To save your money from inflation one of the good ways is to invest in real estate. And that's what some people do. At the end, selling the rental property gives you enough money for retirement, because counting on the pension from the government, what is, $2200 a month at the maximum, and taxed, you'll be starving, after working for 40 years of your life.
On top of that, you can't even pass your paid off residence to your kids, the government will charge them taxes on income. And at the same time so many immigrants come into the country, which need a place to live..
That's why there's a big demand in real estate, which drives the prices up, which is not normal. To pay 25-30 years for a house made of plywood, built in three months, that's BS.
@carylhalfwassen8555 those aren't major renos lmfao shes probably talking aboit cabinet removal tile replacement which can be done in less then a week
@@carylhalfwassen8555Not if you double or triple the rent afterward.
That's a renoviction.
Notice how this doesn't happen to the rich... It's only happening to people that are trying to make a little extra money.
Oh I'm sure it happens to the rich too, but they don't really notice. They pay to deal with the problem in another way.
Overextending one's self to get further up the property ladder apparently comes with risk.
It does, they just can absorb it better then ones with one or 2 extra properties
Still getting poorer to pay their mortgage, they keep the property while those who pay for it get kicked out without these laws.
They can just sell!
Can't rob the poor and treat them like garbage... boohoo.
That is because they are rich...that surprise you? That people with a whole lot of money do not have the same issues as people not making a lot of money?
Outrageous. Tenants thinking that landlords "eat caviar and pop champagne" at their expense. Why are we demonizing ALL landlords. The cost of living has increased across the board, and sure.. some landlords should definitely try to be fair. But for a tenant to ask for six figures? A down payment? All that just so the landlord can get their keys back?
Eat my shorts and sit down.
How the hell is this even legal? I know there are tenant rights but this is extortion.
I rent in New Jersey and all I would want is a landlord that doesn't charge me and unreasonable amount of money, and fixes things if needed. In return, you get someone that doesn't cause any problems and pays ON TIME.
Its their propery not yours, they can do whatever they want. In other words you are saying "I cant affort to pay the rent so I wont and I will live in the house for free"
@@randomgaming5332 What does that have to do with anything that I said? And besides, according to the law, these tenants are able to do this, so yeah....they can negotiate a buyout.
No, the landlord can't "do whatever they want." They have signed a lease with the tenant specifying what their responsibilities are to the tenant and how much the tenant has to pay for the services being rendered by the landlord.
If the landlord refuses to provide said services, and the tenant has tried to redress these issues legally, then the tenant has every right to stop paying rent.@@randomgaming5332
This is why I don’t rent to anyone anymore. I’ve taken 2 rentals off the market with court cases and renters squatting . Happy to get out :)) took some time but I was determined and my tenants did nothing but abuse me and my property
I've always been surprised why someone would want to get into being a landlord, knowing this is excepted.
@@AlwayzFresh when did it become "accepted" to abuse property or not pay rent? All of this is happening because of poor government. No other reason whatsoever!!! Our country has not advanced in the past 8 yrs. We're going backwards with this government in power. Decay of our society is no laughing matter!
i had CLV Group here in Ontario try and bribe me out of my apartment and offered a laughable $2000 to move so they could renovate and get more rent then i am paying from a new tenant. $2000 doesn't come close to covering 1st and last for a 2 bedroom apt nor does it even adress the moving costs and all the other costs associated PLUS i'm paying easily hundreds a month more . Just so they can hose a new tenant. If a Landlord wants me out its $10,000 minimum. cover 1st and last, moving costs and extra for the extra rent I'm paying for the next 2 years. I'm done with these companies and Landlords treating residents like were have bottomless pits of money for their increases. It has to come to an end., Yes Landlord's need to make money, but holy sh** ..they have this impression people have just wads of cash available. We are just trying to keep the lights on and put food on the table.. and enough is enough. making profit is one thing. Bankrupting your tenants and treating us like 2nclass citizens is something else completely.
I think you have a point. Too many people think we renters are entitled when really we just dont want to throw away the 10 grand it cost to move. If we had it in the first place,
the LTB is an outfit protecting bad tenants. It's a matter of time before landlords take matters into their own hands because the system has failed. The majority of landlords aren't giant corporations that can absorb a few bad apples, I'm in the real estate sector, and I've heard countless cases of renters taking advantage and not paying a dime for upwards of a year because of the backlogs. The worst part is these people have no assets, good luck trying to collect from them even with a judgement in your favor
This absolutely floors me. I am so disgusted by this! Why do renters think they should have more rights than a landlord, especially a small one! That person worked and saved to buy that property! They are paying a mortgage and tax, interest rates and everything else on it which yes, you have to pay as a renter. If you want housing you have to deal w the rules which is same for a renter or an owner. You think owners get to tell the bank to pound sand when they raise the rates?! When those rates go up the landlords rates go up so why do you think they should be able to afford their own home and pay for yours too? This attitude is shocking! I agree landlords shouldn’t gouge people’s eyes out but, frankly, the govt and the banks are gouging eyes out w interest rates and inflation so that shouldn’t affect the renters?? If renters don’t like renting then buy. See if the bank entertains a cash for keys or plot of land demand after you stop paying. Pipe dream! This is complete extortion and should be absolutely illegal!
Why are you blaming the renters for standing up for their rights?Blame the LTB or rather Ford for not running the LTB efficiently.
Do you even know when and why a cash for keys deal is signed?
I could afford to buy a property but I chose not to because I would be house poor and I don't want to be leveraged to my eyeballs.
If landlords were not leveraged to their eyeballs, they wouldn't be affected by the rising interest rates.This is a risk that they need to factor in before choosing to invest in real estate or become a landlord.
I was wrongfully evicted. My landlord gave me an N12 and ended up selling the place right after. I wish I had signed an N12 or rather he wishes That he did cause he would have to pay more in fines to the LTB and to me.
Too bad…small landlords have made a choice to invest in a rental property. That’s the choice they made. It seemed like a great way to make money with crazy rents from desperate renters. So…..surprise, surprise! Bad choice.
poor little landlords boohoo
they have an investment that didnt work out, put all their eggs in one basket. its like asking people to whine over your apple stock went down, boo hoo.
@@ddwag1 lol investing in hoarding housing away from people. Cry more
House speculation was ridiculous and only the small landlords suffer, while large corporations have the legal power to resolve quickly
It’s incredible Geordie Dent the tenant advocate how he promotes tenants abusing the system when the tenants who use those tactics are the ones not paying rent. Shameful.
The whole system is broken that lets both or either tenant and landlord defraud one another. This all comes back to government policy and accountability and thus incompetent greedy politicians. One of those policies: allowing foreigners to freely buy property to boost up property prices pricing locals out of the market. Lots of politicians have investment properties so it was all self-interest and still is - not to let property prices fall. However, there is a third party to this and that is the banks. Banks have lent too much money to uneducated investors knowing that interest rates would be increasing massively in order to catch up to a level of inflation control, thereby inevitably and intentionally causing future defaults. They have known for a few years that this would all blow up as it has, as they sit on top of their record profits.
The problem is that the current policy allows for so much pain for both tenants and landlords. The policy makers (aka the government) are setting back and ensuring the battle stays amongst people. If people wake up and realize the main issues stem from the utter failure and neglect of policy makers in regards to housing , I can guarantee the problems facing both tenants and landlords will be solved very soon.
so the shortage has nothing to do with people investing in short term AirB&B ?
And being incentivized to do so by bad tenants @@concernedcitizen3476
@@concernedcitizen3476thats a policy issue enabling these problems
The problems LANDLORDS face are outrageous. Not tenants. You get 1 bad tenant in your rental property - it can be HELL to evict them. Thats why you see a rise in short term airbnbs. Long term rentals are not worth the headache
@@MikeyPaper to think that you must live a very privileged life, and you believe this propaganda. 99% of people do not abuse the laws, do u know why there's so many cases of money for keys? cuz the rents have been increasing at an insane rate in the last couple of years and there's rent control on the majority of properties so they can't raise the rent, so they use excuses, lie and slander to get them out and rent it to new people at the market price which can be more than the double price the current renters are paying.
and you might think 20.000$ sounds like a lot for a money for key and while it is, that might be the money they would be losing in a year by moving out cuz the prices increased that much.
(11:16) .. _"I mean I know the rights that tenants have but..."_
"Investment property", those two words strung together garner zero sympathy from me.
Absolutely! I bought a "Investment property" there were four units. I evicted everyone I told them that "investment properties" are not part of the society I want to live in. I told them all that I hope they all buy a home soon and put them out. I turned the home back to a one family home as it should be. No landlords just home owners.
This is why you don't finance a rental property especially if you need the rent income to make the mortgage payment. Geordie Dent's landloard must be cringing listening to this guy.
Well unfortunately is landlord has got him for a very long time. Geordie is blacklisted with property management companies, only place he is going if he leaves his apartment is the park.
I once was a landlord. Never again. It’s a nightmare.
You got a real job?
A landlord or having mortgage(s) in your own name?
Yup, the rules are too screwed up
Canada needs more permanent rental properties. Government is responsible for this mess
😂
There's been a housing crisis in Canada for decades, that the government has ignored. The well off voters and older middle class with property hasn't made that an issue when voting, ignoring younger generations crisis. Now it's affecting them as landlords and they're upset. There's a cost to ignoring a crisis because it's not affecting you, they're now experiencing the cost.
Well said. The problem is really concentrated at the municipal level. Any city council that cannot ensure housing supply increases to meet projected demand and population growth is inherently incompetent. This should the primary job of any city management.
Trudeau has ignored the housing crisis and he had opened the flood gates for refugees and international students + 1/2 million immigrants. Then he says that Federal gov't is NOT responsible for housing. This guy has no moral!!
And what is the 'cost'? That peoples property (literally) should be stolen from them?
@@dominicblakeartwriter…damaged and illegally sublet too. That is NOT some sort of retribution for not giving younger people who are not willing to do the work and don’t understand or have the patience to know that it takes years to build that kind of equity, it’s just criminal activity.
Housing shortage@@dominicblakeartwriter
This has been going on in New York City since the late 70's. People are being payed tens of thousands of dollars to move out. My grandmother was paid $25,000. to move. The rent for the apartment went up from $118. a month to $900. a month. Today, that same apartment is $4000. a month
Donald trump probably bought that building
If you don't like it buy your own house.
We have a house on our block that they have been trying to sell for over 15 years. No one wants to buy it. There is a family that took up 4 units. The husband and wife has one. Her sister has one. Her daughter has one. The husband's sister has one. They pay about 450 per unit and refuse to move out. Now they are demanding 250k per unit to move out. No one wants to take on that building. Eventually they are going to take the building the guy owning it is old.
@@annhans3535 It's a shame that you can't take the law in your own hands and get those people out.
@@annhans3535hire someone to build something illegal. dOB come in and they have to demolish the building.
that Tenant advocate is delusional as F. trying to make $$ on peoples misery !
Tenants are using their rights. Landlords are dealing with the risks of investment, boohoo for them.
risks from investments are defined as losses incurred due to policies or market changes not “extortion” !!
@@jwally1434 You think that after ripping off a landlord, they're going to put up that apartment up for rent again? hahaha no they are not. Tenants are hurting themselves and hurting future tenants in order to hurt landlords. So my buddy had a unit in his basement, it's now where he stores his christmas decorations, I use my basement unit to store some old furniture instead of having someone live there. That's the part the tenant advocate doesn't mention, just because you once had a unit for rent in your home, doesn't mean you are obligated to keep it online, it can once again be part of your home without paying a vacant home tax. You're not obligated to rent out part of your home, .....remind me again, who is getting screwed?
@@gabe9671 I don't care what people do with their property, but if you decide to take the risk of investing in a property for the purpose of renting it out, don't go crying to anyone when things go wrong. Tenants are going to do everything in their power to get the best deal possible for themselves, just like landlords. If tenants using their rights fucks over a landlords investment, boohoo.
@@jwally1434 You don't care what people do with their property? Only a landlord would say that, you are either a landlord or a shortsighted tenant. So why don't you care, cause you have a home, that's why. So you are saying that you are taking a risk if you bring someone in your home. Extortion, is not a market risk, its breaking the law, you can't legally extort people. But your comment is EXACTLY why the housing crisis is as big as it is. Cause you are saying, if I come into your home, I may rip you off, so why would anyone rent to you?
landlords need to follow the laws. tenants deserve to keep living in their homes even if its sold to another investor.
"Not paying rent, get out of the home" should be the law.
It is the law. If a tenant stops paying, they are in breach of the agreement and the landlord can seek an eviction order.
when the price of rent is so high so are the stakes of reasonable resolutions
Why put ppl out ? In order to charge someone else more rent, right ? I don't feel sorry at all for these landlords . Rents are out of control
Canada is doomed. How ridiculous the renters sound !
You know what's crazy, there's people who work 2 jobs and can't afford a house! Not just low wage jobs, but there's people with college degrees, working in demand jobs who can't afford a place to live....not even an average low end apartment! Now that's not just hurtful but outrageous!!
That depends on where you live.
This is the most sane comet here.
@@JamieStLouis-tu9ml qujanaq! (Thank you in Kalaallisut language)
@@poollife777 to an extent, but I d say the biggest factor is how much money you can make/have. It's almost impossible for someone in deep poverty to afford a place, especially if its a generational thing. Someone parents in deep poverty, the kid grows up in deep poverty ECT. Of course it can be based on luck, maby a poor kid has a talent or poveds a need and gets a lucky brake, meets a person who has money/connections, or is maby living a city where the chances *can* increase for theme to make the right connection. It's a bit harder in the rule/country area. These aren't set in stone rules tho. Life's wired and sometimes the unexpected happens against all odds.
There's exceptions to every rule!
A system, which rewards unethical behavior on both sides, is doomed to implode. Something bad is coming down.
Most underrated summation ever 🎯
Someone may own a property, but if there is a tenant it is also the tenants right to live in the property until the lease is up, you made an agreement, you can't just violate that agreement and kick the tenant out whenever it best suits you.
I have been living in the same 2 bedroom apartment for over 30 years paying rent at a price that people are currently paying for a studio. I would also settle for absolutely no less than 50k to get me to move out. I feel for the landlord in this interview but in my case i am dealing with the scummy kind who hide behind cheap shady "property managers" who do the absolute bare minimum in the building.