Yea, ideally you get someone who stays 2 years max and moves. But I’m finding that many are staying put. That’s the strategy with predatory rent control. Find a place and lock in for 5 years. Your rent will stay the same. If I was a tenant I’d do the same thing.cartfan123 wrote: ↑ It’s crazy how left the both the CPC and Ontario PC have become and not just on this front. Doesn’t bode well going forward as landlord in Ontario.
This govt trick of reporting low CPI and using that to keep the interest costs on big govt spending under wraps is starting to bubble over. I can’t remember when inflation has been such a big issue with the masses. Of course all of these parties will lie and say they are going to fix it (usually by more spending and continuing expansionary central bank policies).
The only way to hedge if you are remaining a landlord here is to try and focus on younger upwardly mobile types that might only stay a year or two anyways. We aren’t even close to any return to normal in society and rents are already moving up and that trend is likely to continue.
Even since Jan 2020 to now I’ve only had one turnover across 5 properties. And that was snapped up as soon as the first person saw it. And they happen to fit the criteria also.
Writing has been on the wall for landlords for quite some time now.
