Congrats Keith and thanks for your commitment GMHA! from a former board member...
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$800 per month rent is not realistic, you will not find that anywhere in a vacant unit apartment period. The only way to get this is in government subsidized housing, which is tax payer funded, and if you want to see how that gets treated by the benefactors take a walk up the stairwells of the matrix building downtown. Forcing someone to do this will only stop investors from purchasing these buildings, which will fall into disrepair and go bankrupt because they have no owner...
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Here in lies the issue. When inflation was 8 percent rent control was 2 percent and rent stayed artificially below that rate for too long. When these buildings come up for sale they have likely been owned for the same people for years with no mortgage. When they are sold, there is likely a large mortgage to be paid by the new owner as well as the taxes, heat ,hydro and upkeep which costs have gone up significantly. Not withstanding tenants who destroy units , don't maintain them properly and the ones who know how to play the landlord tenant board game and not pay rent for 2 years before finally being removed. (personal experience) . So owning rental units these days are a greater risk that ever before, and I am not about to lose my shirt so someone can live cheap. Unfortunately rental units will continue to disappear until the land lord tenant act is revised or the reward is worth the risk. Glad I'm out of it.
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Looked after Mr McFarlands house a few times when was away. I'm part of the old Harrison Ave gang. He was always a gentleman and will be remembered as so.
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The building actually operated as the Guelph Paper Box Company up until 1983 W.C. Woods purchased the building and put the addition on the side the tracks run down in 1984. I worked for a summer at GPB and for the company that put the addition on.
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Look out Communism here we come!
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Who pays their landlord cash hmmmmm right and doesn't get receipts at time of payment, and we wonder why no one wants to provide rentals...
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Congrats Jett, looking forward to your leadership and watching you play next year!
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That's $28958.05 per unit. Won't even cover half the cost of the development charges per unit....
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so just so you know the city Does not pay for the sewers water services, hydro line gas lines sidewalks, roads and street lighting put in a new subdivision, the developer does, and for 2 years after the developer is required to maintain these services then after repairing and replacing curbs an signs and sidewalks that are damaged by the cars using the roads and the taxpayers it is turned over by the developer. Millions of dollars are put out by the developer long before any profits are made in fact I was told by one developer that you only start making profit in the last phase or 2 of any subdivision, which could have 4-5 phases or more. So maybe the users of the roads, sewers, community centers (which development charges are used to pay for)parks (which the developer is required to donate the land for and install the turf and play equipment) should pay for their upkeep. And if developers cannot make a profit for their expertise, good luck finding someone who will do it for no money.
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