The long delays in resolving landlord-tenant disputes are worst in Ontario but other provinces are experiencing it as well. Experts say those delays will have an impact on the already-stressed rental market.
The long delays in resolving landlord-tenant disputes are worst in Ontario but other provinces are experiencing it as well. Experts say those delays will have an impact on the already-stressed rental market.
Hopefully this leads to a large decrease in the number of landlords, as they realize that landlording is not really the good investment it seems unless you are depending on speculation to drive prices up (or do illegal things like not maintain the property properly)
It already has. Many would rather see their property sit empty than deal with this nonsense.
Why do you think rents have skyrocketed?
or on AirBnB, I’ve seen a night is ~1/3 of the month rent, so if you can rent your apartment ~3 days a month, it pays the same as a full renter. If your apt is downtown and you can rent it 4-5+ days/month, it’s full profit. There’s something like 13’000 airbnb in Montréal, most are illegals, and we have thousands of people sleeping in tent outside. System is broken.
And even if nobody bites on AirBNB, it’s still cheaper to leave empty than having to deal with tenant boards.
Ban AirBNB? Sounds like a pretty simple plan to abolish illegal undocumented hotel rooms.
Which is why an empty homes tax should be 100% of the market value of the dwelling. Have a 1% bounty on it and you will see a big change in availability and pricing.