647
'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month
(toronto.ctvnews.ca)
this post was submitted on 06 Sep 2023
647 points (97.0% liked)
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Same thing is happening to me right now (UK). LL inherited a portfolio of mortgage-free properties a few years back, immediately jacked the rent up on them all. I tried to haggle what imo was an egregious rent increase (notified middle of the year after asking for a minor repair), we agreed on a price then he served me notice to quit; via the letting agent, not a peep or thanks from the LL after I've put ~Β£90000 into his familys' accounts over 13 yrs.
Of course, I can pay someone elses mortgage, but when I apply to a bank for one myself, I can't afford it.
Bank can't do the same thing?
This is what I don't get. Where's the risk for the lender? If I can't pay, they get the house and can sell it. I guess there's a potential cashflow issue but the underlying asset isn't going anywhere.
Typically it's pretty low risk in comparison to other loans which is why home loans are relatively low but there's a risk that both the property value declines and the outstanding loan and selling costs is more than property value.
No
non-artist-based pOrTfOlIos should be criminalized
Why? In a non-artistic sense it's just a pretentious way to say "stuff you own". (Unless you're saying owning things at all should be criminalized, in which case... can't really argue with you there.)