In April 2023, two landlords in B.C. asked tenants to consider an additional rent increase of $500 a month. The tenants said no, but the Residential Tenancy Branch said yes.
I don’t live in B.C but when the mortgage is paid off I am sure they will adjust the rent down to zero.
Landlords should be aware of the risks when they make the purchase. If you can’t afford to hold the property without your tenant having to pay for it, then sell.
They took a 2.something % adjustable rate mortgage and then cried “unpredictable” when they raised rates, as though no one could have guessed that 2.something % was an anomaly
I don’t live in B.C but when the mortgage is paid off I am sure they will adjust the rent down to zero.
Landlords should be aware of the risks when they make the purchase. If you can’t afford to hold the property without your tenant having to pay for it, then sell.
They took a 2.something % adjustable rate mortgage and then cried “unpredictable” when they raised rates, as though no one could have guessed that 2.something % was an anomaly