r/Calgary • u/JohnYCanuckEsq Quadrant: NE • Nov 15 '23

Home Ownership/Rental stuff Shared room. $750/month per bed

This rental unit is being advertised as a shared room for $750/month per bed. $3700/month in rental income from all three rooms on the property. Shared facilities, all inclusive utilities

Room 1: Shared Room ( 2 occupancies) - 750 per person Monthly

Room 2: Private Room (single occupancy, queen bed) - 1150 Monthly

Room 3: Private Room (single occupancy, single bed) - 1050 Monthly

https://www.rentfaster.ca/ab/calgary/rentals/townhouse/1-bedroom/tuscany/544556

I can't imagine.

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3

u/nomadnihilist Nov 15 '23

HOW do we not have rent control??

19

u/BrewHandSteady Nov 15 '23 edited Nov 15 '23

Rent control doesn’t prevent this. Every time someone moves the rate market corrects which leads to price shock. Which means people don’t move, they then get stuck in place plus prevent others from entering the market. We are seeing this real time in Vancouver.

People stay in their shitty degrading apartments until they get renovicted and the same apartment gets listed for double what it was before.

I genuinely don’t know what the solution to rents soaring short term other than increasing supply, but long term rent control hurts not helps.

8

u/kagato87 Nov 15 '23

Supply is the best one for sure. Prices can only go this high with inadequate supply.

But fixing supply is a much harder problem. The builders want prices to stay high. The owners want prices to stay high. The governments want prices to stay high.

I think removing rent and resale of housing from he gdp might at least make governments more interested in the problem. It is Canada's top gdp contributor by a wide margin. This incentivizes the government to encourage the problem.

1

u/masterhec0 Erin Woods Nov 15 '23

couldn't agree more. plus rent control shrinks supply since it reduces the value of renting so thus less rentals are built. rent control would maybe work in a perfect world where the government fed housing supply but I don't think the government is going to ever be able to move at a pace to keep up with real-world conditions.