BC Residential Tenancy Agreement
A good friend has $400K left in her mortgage. She can sell the house for $630K. She is very much against renting due to its "uncertainties" such as landlord can evict you anytime when they decide to sell the house. What if the house appreciates to $700K+ etc.
We compared her monthly cash flow in these two scenarios:
Keep the house & mortgage = -$400
Sell the house & rent = +$2000
I need help with how tenant's rights in Vancouver, BC work. Can you sign an agreement with landlord to rent minimum of 1 year as an example? How about 2 years? I think this removes some of the "uncertainties". Also can the landlord really evict you if house becomes for sale overriding the agreement?
http://www.rto.gov.bc.ca
I just think renting even for couple years is better in this case reversing the negative cashflow by +$2400!!!
We compared her monthly cash flow in these two scenarios:
Keep the house & mortgage = -$400
Sell the house & rent = +$2000
I need help with how tenant's rights in Vancouver, BC work. Can you sign an agreement with landlord to rent minimum of 1 year as an example? How about 2 years? I think this removes some of the "uncertainties". Also can the landlord really evict you if house becomes for sale overriding the agreement?
http://www.rto.gov.bc.ca
I just think renting even for couple years is better in this case reversing the negative cashflow by +$2400!!!