COVID and the housing market

Forum Sponsor
nobbie48 said:
Our problem was in the city. When the kids got old enough to not go to the cottage the parents went to enjoy the cottage peace and quiet while the kids had all night parties keeping the whole neighbourhood awake.
Click to expand...
It goes the other way too. The kids go up to the cottage for a weekend with their friends. Some of the in-laws nearby cottages really have some dumb young adults. Brilliant ideas like "let's go drinking and boating", shooting a pellet gun at their buddies swimming, trying to wakeboard with no spotter and the boat driver only looking backwards so everybody else needs to get out of their way, etc. Tbh, I'm surprised they survived the weekend.
 
The two things I’m seeing most in cottage country , when we did stupid it was a forty horse Viking motor not two , three hundreds and the jet ski had yet to be invented. We were still morons , however less traffic and less potential speed probably saved us . PWC along the shoreline hitting sixty five ? You just know when that’s going .


Sent from my iPhone using GTAMotorcycle.com
 
and the mixed-use market...

Cloverdale Mall started as an outdoor mall then added a roof over the walkways. Then it went fully enclosed and tarted up. Then they put on a huge addition for Target (Ouch) that is now empty. Then they decided to go the route of the Don Mills Centre by making it a mixed condo retail site.

Existing businesses saw the writing on the wall and many moved out in long term planning. The downturn in foot traffic isn't helping those that stayed. Condo presales are possibly zero. $1000 per square foot plus parking in today's market is beyond a stretch. It seems every time I go there's another boarded up storefront (Nicely painted). The Beer Store is gone. Sometimes the pros get the timing wrong as well.

Woodbine Centre, The parking lot is quite full but a lot of it is for trailer storage. The last time I went I saw a lot of low-end stores and the site may be for sale.
 
crankcall said:
I suspect ( no data to back this up) being a landlord in anywhere outside a major city would be easier? than in the city . I think you might get less career deadbeats and possibly more conscientious customers?


Sent from my iPhone using GTAMotorcycle.com
Click to expand...
Perhaps.

Friend rented out a house in Barrie, during COVID the guy stopped paying. It took him almost 2 years to get him out. He showed up to the LLTB court date twice and paid in full, so they said everything's fine. Next month he would stop paying and the clock just reset.

He apparently did credit checks, references both personal, professional and previous land lords. Thankfully his place wasnt trashed after the guy left. He's now in small claims for $12,000 in back rent. Goooood luck.
 
Was flipping through FB marketplace and noted a listing from someone renting rooms in a home. It was pay per person. One person in the room 700, two people in the room 1400 and so on. This was for a single room!?!
I could not imagine paying that amount for a room 1400 is close to my mortgage payment. Ouch
 
Jampy00 said:
Was flipping through FB marketplace and noted a listing from someone renting rooms in a home. It was pay per person. One person in the room 700, two people in the room 1400 and so on. This was for a single room!?!
I could not imagine paying that amount for a room 1400 is close to my mortgage payment. Ouch
Click to expand...
A friend rents out room for about that amount but it's one to a room and decent rules. I rented a room ages ago, but it was one to a room. Another place I looked at had three sets of bunk beds. I've heard of hot bunking. In the 1800's country inns rented travelers a space in a bed.

I shudder to think about bathroom line-ups and meal preps.
 
nobbie48 said:
A friend rents out room for about that amount but it's one to a room and decent rules. I rented a room ages ago, but it was one to a room. Another place I looked at had three sets of bunk beds. I've heard of hot bunking. In the 1800's country inns rented travelers a space in a bed.

I shudder to think about bathroom line-ups and meal preps.
Click to expand...
Jeez, glad I'm not it that position.
Agreed the toilets are abused 😭
 
Jampy00 said:
Was flipping through FB marketplace and noted a listing from someone renting rooms in a home. It was pay per person. One person in the room 700, two people in the room 1400 and so on. This was for a single room!?!
I could not imagine paying that amount for a room 1400 is close to my mortgage payment. Ouch
Click to expand...

How about a spot on the upstairs landing?

torontosun.com

Brampton rental listing boasts 'no privacy' on second-floor landing

If potential renters were hoping to get one of those bedrooms, they are sorely mistaken.
torontosun.com torontosun.com
 
House beside me was recently purchased and basement fully gutted and reno'd into some sort of indian rooming house, a vehicle will be there for a month or so, then gone, students coming and going, young couple carrying a dresser down the street yesterday and up the driveway, mattresses coming in and out... Not sure how owner is working it but must be on a weekly or monthly basis for about 7 or 8 beds.
 
Mikedezo44 said:
House beside me was recently purchased and basement fully gutted and reno'd into some sort of indian rooming house, a vehicle will be there for a month or so, then gone, students coming and going, young couple carrying a dresser down the street yesterday and up the driveway, mattresses coming in and out... Not sure how owner is working it but must be on a weekly or monthly basis for about 7 or 8 beds.
Click to expand...
This is always a concern. Especially now with landlords snapping up and renting by the cot…

Maybe that’s why I can’t find a good camping cot . 🧐

Unfortunately once a neighbour does that…can’t do much, and good luck selling with a revolving door of short term tenants.
 
mimico_polak said:
This is always a concern. Especially now with landlords snapping up and renting by the cot…

Maybe that’s why I can’t find a good camping cot . 🧐

Unfortunately once a neighbour does that…can’t do much, and good luck selling with a revolving door of short term tenants.
Click to expand...
I saw a condo complex turn into a vertical slum when the government started paying the rent for people used to lower standards. That caused more original owners to move and investors took over the building.

It was a gold mine for the investors. Guaranteed income and lowering maintenance costs because residents accepted slum status.
 
Mikedezo44 said:
House beside me was recently purchased and basement fully gutted and reno'd into some sort of indian rooming house, a vehicle will be there for a month or so, then gone, students coming and going, young couple carrying a dresser down the street yesterday and up the driveway, mattresses coming in and out... Not sure how owner is working it but must be on a weekly or monthly basis for about 7 or 8 beds.
Click to expand...
Saw my sister in Aldershot yesterday… a few doors down from her place a 1000sq bungalow was just licences for STA. Fire dept recently approved the residence for occupancy, 14 residents have moved in.
 
Mad Mike said:
Saw my sister in Aldershot yesterday… a few doors down from her place a 1000sq bungalow was just licences for STA. Fire dept recently approved the residence for occupancy, 14 residents have moved in.
Click to expand...
1000 divided by 14 =71 Square feet per person, six feet by 12 feet not allowing for hallways, closets, kitchen counters, bathroom.

I assume half will be in the basement. Have they checked for radon?
Forum Sponsor
 
You must log in or register to reply here.
Back
Top Bottom