Real Estate

April 1st Pay rent

  • Last Updated:
  • Apr 10th, 2020 12:03 pm
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[OP]
Banned
Dec 28, 2019
1021 posts
645 upvotes

April 1st Pay rent

I am watching the news.

In Toronto, 47% people are renters.

1-bedroom costs an average of $2,240 a month?

How many people here cannot pay the rent this month?


40% of N.Y. Tenants May Not Pay Rent This Month. What Happens Then?

Many unemployed tenants won’t be able to pay April rent. There will be a domino effect on landlords, real estate industry officials said.
https://www.nytimes.com/2020/03/31/nyre ... nants.html
Last edited by Sgtalpowell on Apr 1st, 2020 2:49 am, edited 3 times in total.
46 replies
Member
User avatar
Jan 7, 2019
320 posts
306 upvotes
Spoke with my tenant last week. Offered to work something out if she is having financial problems. She said everything is great and to go deposit the chq (today).
Remember to always Thumbs Up good responses! Spread positively.
Jr. Member
Jun 3, 2018
176 posts
262 upvotes
I can and am paying my rent. However, most of my neighbours are not.
Sr. Member
Feb 15, 2013
881 posts
357 upvotes
Toronto
I am paying my April rent.
Member
May 10, 2017
316 posts
192 upvotes
I’ve already paid April rent.
CERB will help me pay for next month’s rent.
Donate to your local food bank today!
Sr. Member
User avatar
Feb 25, 2018
567 posts
212 upvotes
Housing has crashed. Tenants can move somewhere cheaper soon. $2240 a month for a 1 bedroom is ridiculous and unsustainable. A crash is a good thing for everyone.
Member
Jun 15, 2015
424 posts
457 upvotes
Thornhill, ON
Just deposited my tenant's rent. No issues.
Jr. Member
Apr 25, 2017
153 posts
119 upvotes
My Rent payment went through GetDigs like every other month
Deal Addict
User avatar
Dec 21, 2013
1596 posts
1919 upvotes
GTA
DaveVentura wrote: Housing has crashed. Tenants can move somewhere cheaper soon. $2240 a month for a 1 bedroom is ridiculous and unsustainable. A crash is a good thing for everyone.
Housing has crashed folks. That's it. This brave man has called the top.

Meanwhile:

Image
Deal Guru
Feb 29, 2008
14213 posts
10524 upvotes
DaveVentura wrote: Housing has crashed. Tenants can move somewhere cheaper soon. $2240 a month for a 1 bedroom is ridiculous and unsustainable. A crash is a good thing for everyone.
I think you forgot to add “I hope”
Deal Addict
User avatar
Dec 13, 2016
3704 posts
3198 upvotes
Beige Yaris here.

Received rent in full.

See ya next month
Deal Addict
Nov 13, 2013
2578 posts
1302 upvotes
Ottawa
Sgtalpowell wrote: I am watching the news.

In Toronto, 47% people are renters.

1-bedroom costs an average of $2,240 a month?

How many people here cannot pay the rent this month?
Nowhere near 40% of people can't pay rent. They are choosing not to. In some ways this is even a logical decision. If you could stop paying your mortgage and the bank could do nothing and this time next year you could just move into a similar house for a bit less money and the same equity you wouldn't do it? That is basically the financial decision for renters. They can not be kicked out. The only reason people are paying is because they are honest decent people. Luckily that is the majority. We don't have the same level of inequality and resentment as in the US though on housing surely Toronto is close.

If you are a small time landlord and want to see how likely it is you lose rent look at the stock prices of residential REITs. I used to own one. It has dropped more than 50% from its February price which was largely unchanged over the past year or so. Maybe these big REITs own more shitbox apartments than the typical Redflag landlord but I would still be worried and more importantly plan accordingly.
Member
Jul 11, 2017
489 posts
432 upvotes
I'm paying my rent this month no problem. I texted my Landlord just to let him know he could deposit the rent cheque for this month and thanked me. Helps that I am essential and still have my job (Grocery Clerk Nights) and my rent is a reasonable price (Student Rental; $550/mo all inclusive)
Jr. Member
May 15, 2019
141 posts
145 upvotes
Paid mine yesterday- the landlord was grateful that we did, notwithstanding the turbulent market conditions.
Deal Addict
Jan 13, 2004
1566 posts
449 upvotes
Mississauga
If this continues there will be lots of property being dumped on the market forcing prices down IMO. BTW does not effect me if it does or not.
"With today's sheep mentality sometimes I feel like going to a wall and just bang my head"
Deal Guru
Feb 29, 2008
14213 posts
10524 upvotes
Better question. How many people here didn’t pay rent this month?
Deal Guru
Feb 9, 2009
11012 posts
9499 upvotes
DaveVentura wrote: Housing has crashed. Tenants can move somewhere cheaper soon. $2240 a month for a 1 bedroom is ridiculous and unsustainable. A crash is a good thing for everyone.
How long have you been predicting this ace Ventura? Are people going to be forced to the streets? Contrary to the whole one paycheck thing most people have enough savings to pay rent... it’s not like anyone is out there spending on anything else besides food right now
Deal Guru
Feb 9, 2009
11012 posts
9499 upvotes
JayLove06 wrote: Better question. How many people here didn’t pay rent this month?
Let’s face it there are two types on here:

Owners and people living in their moms basements...maybe 5% legit renters
Newbie
May 16, 2010
70 posts
16 upvotes
Toronto
own 5 rentals
4 paid in full
1 paid half and said he will make it up after
Newbie
Sep 18, 2009
62 posts
14 upvotes
All paid said one double garage rental.......$250. He said he would catch up when ei comes........I think I can live with that

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