Comments on: ..and then the renters moved in. http://vancouvercondo.info/2007/09/and-then-renters-moved-in.html Bubble? What Bubble? Thu, 09 Feb 2012 02:53:26 +0000 hourly 1 By: si fu http://vancouvercondo.info/2007/09/and-then-renters-moved-in.html#comment-6642 si fu Thu, 27 Sep 2007 17:23:00 +0000 http://vancouvercondo.info/?p=327#comment-6642 After living/owning for years in a condo that limited rentals, I rented a place downtown to be close to work. Where I live it is 90% renters. I have to say that absentee landlords couldn't care less about the conduct of their tenants. Downtown buildings seem to be inhabited mostly by ESL students who pay premium rent for a short term and spend their time partying.<br/><br/>I've been looking at investment condos for sale (why not fleece the foreigners, too?) and I noticed that almost all of the rental properties for sale are trashed by the tenants. With carrying costs in this market, owners can't afford to put money into upkeep, and they can't be too choosy about tenants if they want to get high rents. They need to get tenants who will pay premium rents in order to keep the mortgage afloat. Besides, why tidy up a place for sale when you can get multiple offers on even the worst dump?<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-6642">0</span> <small>(to vote for this comment, please visit the site)</small></p> After living/owning for years in a condo that limited rentals, I rented a place downtown to be close to work. Where I live it is 90% renters. I have to say that absentee landlords couldn’t care less about the conduct of their tenants. Downtown buildings seem to be inhabited mostly by ESL students who pay premium rent for a short term and spend their time partying.

I’ve been looking at investment condos for sale (why not fleece the foreigners, too?) and I noticed that almost all of the rental properties for sale are trashed by the tenants. With carrying costs in this market, owners can’t afford to put money into upkeep, and they can’t be too choosy about tenants if they want to get high rents. They need to get tenants who will pay premium rents in order to keep the mortgage afloat. Besides, why tidy up a place for sale when you can get multiple offers on even the worst dump?

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]]> By: markoz http://vancouvercondo.info/2007/09/and-then-renters-moved-in.html#comment-6641 markoz Thu, 27 Sep 2007 13:54:00 +0000 http://vancouvercondo.info/?p=327#comment-6641 I agree it's a crap shoot. I rent my house and take better care of it than the previous owner ever did. I have completely landscaped a yard that was weeds and stumps because I love gardening. The house across the street was recently sold as a fixer upper but was a rental before. The landlord and tenant could never agree on who was responsible for yard work and the grass used to get literally knee high before the landlord sent in a crew to cut it down.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-6641">0</span> <small>(to vote for this comment, please visit the site)</small></p> I agree it’s a crap shoot. I rent my house and take better care of it than the previous owner ever did. I have completely landscaped a yard that was weeds and stumps because I love gardening. The house across the street was recently sold as a fixer upper but was a rental before. The landlord and tenant could never agree on who was responsible for yard work and the grass used to get literally knee high before the landlord sent in a crew to cut it down.

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]]> By: Warren http://vancouvercondo.info/2007/09/and-then-renters-moved-in.html#comment-6640 Warren Thu, 27 Sep 2007 13:26:00 +0000 http://vancouvercondo.info/?p=327#comment-6640 Having owned and lived in a strata, I think the common wisdom is that owners take better care of community resources and certainly have a bigger stake in keeping things clean, respectable, etc.<br/><br/>However in reality I think its a crap shoot between bad tenants and irresponsible/bad owners. At least the tenants can be evicted...<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-6640">0</span> <small>(to vote for this comment, please visit the site)</small></p> Having owned and lived in a strata, I think the common wisdom is that owners take better care of community resources and certainly have a bigger stake in keeping things clean, respectable, etc.

However in reality I think its a crap shoot between bad tenants and irresponsible/bad owners. At least the tenants can be evicted…

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