B.C.’s property assessment and tax system, which landlords large and small say increasingly threatens Vancouver’s stock of older, affordable rental homes, is apparently causing agreement in some unlikely corners.
Many Vancouver landlords understand why the public — or governments — might not give them too much sympathy. They are, after all, not the most vulnerable group in Vancouver’s housing crisis. But the system appears to threaten older affordable apartment buildings — which is, of course, bad news for tenants.
Asked if the government might consider changes to the Assessment Act, Robinson said: “We’re absolutely monitoring it, it’s important that we do that, but our focus is really about driving the opportunity to create more vacancy.” Hutniak also supports the province’s efforts to get more rental housing built, he said, but this older housing stock is more affordable than new rentals built by the private sector, and the government “needs to focus on this specific issue right now.”
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Dan Fumano: The 'ticking time bomb' threatening affordable rental homes“We will never, ever renovict someone … But the ticking time bomb now for a lot of these older buildings is the bottom line is going the wrong way quite quickly.” Rental properties have many write offs including property taxes. Perhaps the reporter could find out the net profit for these older properties. You can go around at night and see the people who used to live in the affordable places that got torn done in their cars No use making more units that people can't afford While developers make off like bandits in free density increases and fees dropped CROOKS create problems to make MORE MONEY! That is why we call them CROOKS. ICBC CRIME
Source: VancouverSun - 🏆 49. / 61 Read more »
Dan Fumano: The 'ticking time bomb' threatening affordable rental homes“We will never, ever renovict someone … But the ticking time bomb now for a lot of these older buildings is the bottom line is going the wrong way quite quickly.” Rental properties have many write offs including property taxes. Perhaps the reporter could find out the net profit for these older properties. You can go around at night and see the people who used to live in the affordable places that got torn done in their cars No use making more units that people can't afford While developers make off like bandits in free density increases and fees dropped CROOKS create problems to make MORE MONEY! That is why we call them CROOKS. ICBC CRIME
Source: VancouverSun - 🏆 49. / 61 Read more »