Applying to be a tenant is like applying for a job: Toronto realtor
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- čas přidán 16. 05. 2024
- Nicki Skinner, realtor at Bosley Real Estate, joins BNN Bloomberg to share her on the ground perspective into Toronto's rental market as a realtor specializing in rental units. She says trends in the red-hot rental market include cover letters and bidding wars, and that if you want a chance at renting in the city you need to treat it like applying for a job.
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Applying to be a tenant is getting more difficult than applying for a job these days, it’s ridiculous
Nothing ridiculous about it just verification
I don't blame the landlords for strict requirements. So many got screwed over the last 3 years with no help from the legal system nor government
Of course, because when tenants stop paying, it would take about a year for landlords to evict them, and that one year is a free stay. Then when tenants give problem, breaching every point in the contract, there is nothing the landlords could do about it, because the laws support and encourage them to do so. So the landlords really really need to know everything about the tenants' background and financial status.
Landlords know what a bad tenant can get away with and are correct in being cautious.
bingo.
absolute extreme vetting is part of their due diligence
@@charlessnedden591 - this is some ground level info. ❤️
@@charlessnedden591 the alternative is landlords risking 12 months of unpaid rent since that sounds like it is the time frame for getting a tenant evicted through the board.
@@charlessnedden591 I would rather stay in a decent hotel paying 100$ per day than renting an apartment or house for $ 3500/month.
@@charlessnedden591 Then don't be a newcomer to Canada. That's the whole problem - too many newcomers. This is just market forces solving the problem by discouraging newcomers.
Lots of rentals are vacant as potential tenants can'tafford them.I was asked to make an offer on more then a few occasions
Buying or renting a home is becoming more important than... doing an everyday job
I can attest to this, I manage several people and I'm literally getting calls from landlords to confirm that they actually have a job.
I would NEVER pay a year up front, what if the place/landlord does not work out? You could be out thousands of dollars. Also, people need to stop bidding as it just keeps increasing the price for everyone. I was looking for a place a few years back - I thought I was the perfect candidate - well paying long term employee, perfect credit, etc. One landlord told me I was the perfect candidate but he would not rent to me unless I paid 6 months up front in cash only and he wanted $ 300 more than he was asking in his ad. I told him then you should post the price you want in your ad and not waste mine or his time. He basically laughed at me and said good luck. Meanwhile, he was on the news a year later complaining about the tenant from hell that he could not get rid of. I call that Karma.
It's hard with scam artist tenants out there. We have to be cautious and weed out the bad apples.
I saw lots of rental signs up on the don parkway.. bet there will be lots more soon. Landlords are dreaming if they rhink people are gonna xough up 3500-4000 gs a month. Let them go broke
They are getting it, vacancy rate @ 1.5% so even if a single person or couple cannot afford it, some immigrants may rent it it and share it with 8+ people and use hot-bedding to maximize value from the rent.
well there are so many tenants that do not pay for rent so its good to know who you invite to live in your home
Good! They got a process.
Is the host the "I so pale" anchor?
Applying for the job of tenant is crazy. In other words begging someone to take your money.
Exactly applying for the job of a tenant is the mind set. This war on landlords with rent control, proposed taxes, etc. also needs to stop as the old saying goes, don't bite the hand that feeds you. The remaining inventory of rentals left may hit the sell button taking it off the market and to an end user at market rate.
Government is protecting tenants so landlords have to protect themselves. I would rather vacant my houses than rent to potential bad tenants.
They're so scared of renting their soon to collapse investment. A lot of them are asking for 6 months of rent up front or the full year. They are starting to realize people can't afford the ridiculous rents they are asking for and won't be able to cover their mortgage.They're so scared of squatters, it's a total collapse in the making. All these fools who paid for these over priced junk are about to learn what interest hikes are like on million plus homes.
Hahaha. I don’t think many are renting out million dollar homes. But keep talking
@@marksmith6787 from your comment you proved you can't think.
If you had any commonsense which you obviously don't. You'd look up a house for rent and then scroll down to purchase history. It gives all the info about what was paid for the house and when. The huge majority of the homes listed were bought for a million plus. The people who own them are now desperate by the ridiculous amount of rent they're asking in order to cover their mortgage payment. Typical Canadians like you are in FAQING lala land. Now you keep talking.
Poor landlords with investment properties suffering so much.
🙄
owning more than 2nd home should be banned during this housing crisis
Who really needs two homes?
@@charlessnedden591 : children and so on
Ridiculous idea
I always advocated for a progressive property tax scheme that will charge a higher property tax on top of the regular property taxes if you own multiple properties. It's not fair home owners with one 1 home using it to live should pay high property taxes, they should pay less and the people with 2+ homes can pay more property tax on each additional home until it becomes too expensive to own too many properties.
@kmm1863 Sure. It is coming. Spending control in the name of "climate change" will be enforced after 2025 (the real reason is to control hyperinflation due to de-dollarization). 14 major American cities are already part of a globalist climate organization known as the “C40 Cities Climate Leadership Group,” which has an “ambitious target” by the year 2030 of “0 kg of meat consumption,” “0 kg of dairy consumption,” “3 new clothing items per person per year,” “0 private vehicles” owned, and “1 short-haul return flight (less than 1500 km) every 3 years per person.”
Mortgage high 5% you so much
Four years ago I took a dump on Toronto and left because I already knew what kind of garbage was going to become
Good for you what’s your point we don’t need you
Thanks to the boomer generation for making younger generations lives that much harder.
Land lords get more hard, emotional, economical and laws
Sure, get more immigrants in and let them sleep in the street
they are sleeping in 4-5 star hotels which even I as a Canadian citizen cant afford and they are living on our tax $
@@kmm1863 keep spreading BS here pls. Most of the international students are poor af, and imagine saying they live on your taxes Imfao.
@@cassinitakano5736 Whether they are rich or poor. Can't find housing then go other less populated areas in Canada. Trust me there is no holy grail in Toronto. Govt funding people to live in Toronto in terms of subsidized or full payment of housing is making things worse for everyone in Toronto and other areas like Saskatoon, PIE, NWT are missing out on much needed labour.
@@kmm1863 International students are not staying in 4 or 5 star hotels but asylum seekers are in both Canada and the US to be used as cheap labor later for manufacturing due to so called "decoupling" from China (aka de-dollarization)
@@indianmilitary Ok so you are talking about int'l student. Are you saying they are poor? They can pay 20k-40k per year for tuition fees and they are poor?
Banana Republic
LMAO, whats good for the landlord is good for the tenant?? I want the landlords to keep getting pinched so they can start taking big losses and then sell at a loss. That's how you actually help affordability for tenants. Your landlord is NOT your friend. They are simply trying to extract the maximum value from you. Go live in your parents basement. Crash on a friend's couch. Anything but accept this mania as the new status quo. BoC needs to keep hiking and rout the greedy speculators.