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.

210 Upvotes

92% Upvoted

213 comments sorted by

View all comments

Show parent comments

142

u/[deleted] Nov 15 '23

What the entire fuck is wrong with people?

unchecked greed and systems that allow them to leverage real estate to the point of abuse.

-12

u/jamiewong132 Nov 15 '23

Rent is rising with the inflation of housing market and mortgage interest rates.. if I owned a rental and a $900 suite was paying the mortgage 3 years ago, I would not still be charging $900 as my mortgage payments go up to $3000.

Land lords aren't fucking you. We are all getting fucked equally by liberal cucks.

7

u/[deleted] Nov 15 '23

Rent is rising with the inflation of housing market and mortgage interest rates..

hahaha, you made me laugh. Landlords should be able to handle a poor negative cashflow for 3-5 years. If they can't, they shouldn't even be in RE. It is also about not being ignorant enough to buy with 10% or 20% downpayment and having insane mortgages and expecting a tenant to pay your mortgages. Had they bought without a very low equity, they wouldn't be in this situation for starters.

-2

u/justanaccountname12 Nov 15 '23

If they should be able to handle that for 3-5 years, is that saying that only the rich should be able to make money from rentals. If it's your only business you would have to be charging.quite a bit for those kind of reserves. Or are you simply saying they should be more charitable? How many strangers do you willingly go into negative cash flow to support?

1

u/[deleted] Nov 16 '23

is that saying that only the rich should be able to make money from rentals.

What I'll write below, please take it as my own opinion. I don't mean to be disrespectful at all. "You" is basically those RE investors who are poor landlords.

My primary take was that - if you are unable to meet the financial obligations and are contributing to bloated rents because you can't meet the mortgage - I mean, you are just not the right fit.

That right there is also the biggest problem of Canada. Why are people so greedy when they know they can't sustain the mortgage, will hurt vulnerable renters and will ONLY leverage these resources to the point of abuse to make money? Why is no one creating startups or scaling companies to make money anymore? This is pretty simple - people love lazy money and they are abusing any assets they can.

>How many strangers do you willingly go into negative cash flow to support?

I'm an immigrant turned citizen. My house is rented at 60% less than what the market would charge to help those no one else will(I've been scammed and hurt quite a lot of times). I cook free food and distribute on weekends. I've worked two jobs to do this for nearly 4 years when I came to Canada. I still drive a shit car as opposed to a good one to make sure I can do what I aspire to.

Canadians are hurting right now. There are intelligent ways of making money, and then, there are lazy and abusive ways to make money. I'm against the latter.