All Forum Posts by: Vincent A.

Hello fellow BP contributors, quick update!

My relatives have moved out as of September 15 2021 and the rental unit they moved out of has been spotted on Facebook marketplace TODAY October 18 2021 for 1600 (they were paying 1200)

@Wendell Fong @Theresa Harris

For some reason the previous tag didn't work. Please see above reply.

 Yes there is rent control. The province stated that no rent could be increased until the end of 2021 due to COVID. As well as there can only be an increase of rent once every 12 months that is limited to inflation rate of that year + 2% (approximately 5-6% - 1200 rent could only be increased to 1275 when similar properties around the area are going for 1400-1600)

@Theresa Harris @Wendell Fong

@Wendell FongThanks for the deeper insight, I previously just skimmed over the BC tenancy acts. I thought it was a bit suspicious if they matched the 1500 they could stay and could just be used as a loophole to unsuspecting tenants. I understand that being a landlord is a business and in a hot market like Vancouver and surrounding areas, if you're losing almost 4k/year, you might want to switch it up a bit.

I had also just found out that the tenants have been paying cash and only signed a lease for the 1st year and have been MTM thereafter with no paperwork. Would this have any affect if they were to pursue legal action if the intended landlord's use of property is not followed within the 6 months?

Who: Landlord Vs. Tenants (Close Relatives)

What: Landlord is looking to push out current tenants and instead increase rent by 25% by stating that their son & family are looking to move into the unit (which is allowed via B.C. Tenancy laws - https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/ending-a-tenancy/landlord-notice/two-month-notice)  

Where: Vancouver, B.C.

Situation: Some close relatives came to me with their situation where their landlord has given them "flexible" notice (as in no specific date) that their son & family are looking to move back home to the basement suite. Where things got fishy is when the landlord stated that their son would be paying "1500 in rent" and if my relatives could match the amount, then they could stay. This raises eyebrows. Current tenants have been there for 5+ years and have had 0 issues paying rent.

Their current rent is 1200 for a 2 bd/1 ba basement suite. Where surrounding areas are renting for 1400-1500. With B.C. Tenancy laws freezing rents during Covid until end 2021 and only allowing to increase rent (5% ish) once every 12 months - the landlord is definitely losing potential capital.

What could/would you do in both the Landlord and Tenant situations?

Welcome @Amanda Kirk!

As @Mike Henricks mentioned, I just hosted an online meetup last week with a few people here on BP from Alberta! I' am also based out of Calgary, if you have any questions, I'd be more than happy to help out in anyway as you start your journey! 

Shoot me a PM! 

Sorry fellow Albertans.. (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie, Fort McMurray etc..)

This month's meeting has been postponed for next Wednesday June 2 2021. (I guess it'll be a June meetup instead. Haha)

If you weren't able to make it for this week, then you're in luck! 

Shoot me a PM with your email and I can send out the details to you!

Hello fellow Albertans! (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie, Fort McMurray etc..)

We had an awesome conversation on the last call about what’s been happening lately in the Canadian market. Low interest rates, FOMO (fear of missing out), bidding wars, new qualifying rules and more! We’ve just entered another state of lockdown (how unfortunate) until at least early June so hop on and join us on the call!

WHO: ALL levels of real estate experience. Doesn't matter if you're new or well seasoned. In the field or out!

WHAT: An easy going networking event from those in and around Alberta.

WHERE: Online on Zoom! Meeting ID: 817 3267 6966 (Passcode will only be provided via email confirmation)

WHEN: Wednesday May 26 2021.

TIME: 630pm-730pm MST.

I will limit the room to a certain number of guests so everyone may get a chance to share, speak and interact with one another.

If you are interested, please PM me your email for the details and room passcode. I'll finalize the details prior to Sunday May 23 and send the meeting information out. Please RSVP once you receive the e-mail as I am able to prep the meeting schedule to cater to the amount of guests attending!

This will be an easy going networking event (Camera's on!) and I will make it a rule to have NO SOLICITATION during the call (even through PM's) If you feel like you connected with someone, you can send them a PM through BiggerPockets and exchange more info then.

Let me know if you have any questions!

Hello fellow Albertans! (Calgary, Edmonton, Red Deer, Lethbridge, Grande Prairie etc..)

The real estate market is heating up while the snow all over the province is starting to melt! I’m sure there are many of you who are eager to get out, network, and put together some deals.

WHO: ALL levels of real estate experience. Doesn't matter if you're new or well seasoned. In the field or out!

WHAT: An easy going networking event from those in and around Alberta.

WHERE: Online on Zoom! Meeting ID: 852 2600 4846 (Passcode will only be provided via email confirmation)

WHEN: Wednesday April 28 2021.

TIME: 630pm-730pm MST.

I will limit the room to a certain number of guests so everyone may get a chance to share, speak and interact with one another.

If you are interested, please PM me your email for the details and room passcode. I'll finalize the details by Sunday April 25 and send the meeting information out. Please RSVP once you receive the e-mail as I am able to prep the meeting schedule to cater to the amount of guests attending!

This will be an easy going networking event (Camera's on!) and I will make it a rule to have NO SOLICITATION during the call (even through PM's) If you feel like you connected with someone, you can send them a PM through BiggerPockets and exchange more info then.

Hey @Andrew Dutcher!

No worries! I'm planning another one in April. If you can PM me your email and I'll be able to send out the details a week prior to!

Hope to see you on the next one!