Real Estate

Rental Increase Rounding

  • Last Updated:
  • Jan 16th, 2019 10:20 am
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This is in the wrong forum section.
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batcave wrote:
Jan 11th, 2019 7:50 pm
This is in the wrong forum section.
This thread was in the Personal Finance forum. Not sure why a mod would have moved it to Credit Cards. Must have been a mistake.
18% = GTA residents as a proportion of Canada's total population
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Kiraly wrote:
Jan 11th, 2019 8:51 pm
This thread was in the Personal Finance forum. Not sure why a mod would have moved it to Credit Cards. Must have been a mistake.
Belongs in the real estate section tbh :rolleyes:

Should be locked really.
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Only on RFD would you see a post about trying to break the law by 20 cents.
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OP please give me a listing of your rental properties so I know to NEVER rent from you ever.
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jacnel wrote:
Jan 11th, 2019 10:26 pm
Only on RFD would you see a post about trying to break the law by 20 cents.
Robin Hood, but in reverse. :rolleyes:
[OP]
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arkane wrote:
Jan 11th, 2019 10:28 pm
OP please give me a listing of your rental properties so I know to NEVER rent from you ever.
Don't worry you NEVER would be able to afford renting it anyway.
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I can definitely afford $732.96 Winking Face
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I did it to exactly what it is. Not a penny less or more. This coming after a tenant at a different property bitching and moaning over me rounding up 10 bucks on. A place that they were getting a good $4-500 deal on.

I wouldn’t even round down. Do the exact number.
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BRKAMZN wrote:
Jan 11th, 2019 11:43 am
Round it down man. gees. Doing that won't break your bank.
However, if you don't do it, then you are giving your tenant something to complain about. Your tenant might take you to court.

The upside is like nothing, but the downside is a nightmare. Why pick up a few pennies in front of a steamroller that is still rolling?

I do not agree. Round up or down won’t break anyone’s bank. Why is there more of a push for the landlord to foot the bill? People think landlords can print money or something. Do the exact number. Done.
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JayLove06 wrote:
Jan 12th, 2019 6:29 am
I do not agree. Round up or down won’t break anyone’s bank. Why is there more of a push for the landlord to foot the bill? People think landlords can print money or something. Do the exact number. Done.
Because the law says you can’t. It would be like Loblaws not giving you 20cents of your change back for “rounding”
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jacnel wrote:
Jan 12th, 2019 9:07 am
Because the law says you can’t. It would be like Loblaws not giving you 20cents of your change back for “rounding”
No. Not quite but nice try. I encourage all landlords to raise to the maximum allowable amount to the penny every single year. It’s a business, no breaks.
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JayLove06 wrote:
Jan 12th, 2019 9:43 am
No. Not quite but nice try. I encourage all landlords to raise to the maximum allowable amount to the penny every single year. It’s a business, no breaks.
But I’m not talking about that. I’m talking about people trying to go above the legislated limit.

And you people wonder why rent control was expanded.
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JayLove06 wrote:
Jan 12th, 2019 9:43 am
No. Not quite but nice try. I encourage all landlords to raise to the maximum allowable amount to the penny every single year. It’s a business, no breaks.
Savvy landlords who wish to maximize revenue don't always raise rents by maximum levels. Good tenants can be hard to find. When you get one, mitigating their rent increases to keep them around can pay off big time in lower damage, turnover, maintenance costs, etc. When I rented I was always a good tenant and made it a priority to maintain a good relationship with the landlord. This paid off because I was usually able to negotiate on rent increases. One time my landlord let me go four years with no increase.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
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Kiraly wrote:
Jan 12th, 2019 10:21 am
Savvy landlords who wish to maximize revenue don't always raise rents by maximum levels. Good tenants can be hard to find. When you get one, mitigating their rent increases to keep them around can pay off big time in lower damage, turnover, maintenance costs, etc. When I rented I was always a good tenant and made it a priority to maintain a good relationship with the landlord. This paid off because I was usually able to negotiate on rent increases. One time my landlord let me go four years with no increase.
Sorry, my units are rent controlled. I did not raise rents before the government put a cap on how much I could raise it. Now, I raise the rent to the max amount I can. Tenants can't have it both ways. You can't cry about wanting rent controls across the board then complain when landlords raise rents to max levels. You're a good tenant? Great. I'm a good landlord, why should I get less than market rent because you don't trash the place?

Tenants don't even understand the amount of crap landlords have to deal with. You can flat out not pay and landlord can't do anything about it. You can decide to own 5 dogs and not clean up, guess what? Landlord is on the hook. Landlord can't even take back their own place without paying a tenant. On top of that, those who are rent controlled can't even raise rent to recoup increasing costs.

But the tenant thinks the landlord should EAT the cost because the tenant is holding up their part of the agreement. So landlord should not raise rent for 5 years, then raise it 1.8% in the 6th year because you're a good tenant? Complete delusion.

You can't wage an assault on landlords then complain when landlords want to treat the transaction like a business. Before rent controls I didn't raise rents every year. With rent controls, I do. Nothing personal, just business.

LOL @ 4 years with no increase. You call that being savvy? Hardly.

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