A Brampton tenant has racked up $30K in unpaid rent and still won’t leave, landlord says lolita, 27/08/2025 A Brampton landlord says he’s out at least $30,000 — so far — because the tenant at one of his properties has refused to pay rent or move out. Rajan Kanwar says he’s been trying to get the tenant out since May and recover some of his losses, but delays at Ontario’s Landlord and Tenant Board (LTB) have left him with mounting debts and emotionally drained. “It’s upsetting, it’s saddening, it’s a lot of different emotions,” Kanwar told CBC Toronto. “I would like my property back.” Since May, the tenant has paid little or no rent, Kanwar says, leaving him to pay the $9,500 monthly mortgage costs on the property. That’s on top of a $7,500-per-month mortgage on his own family home. The tenant on Scotchmere Crescent hasn’t paid full rent since last spring, according to landlord Rajan Kanwar. The tenant would not speak with CBC Toronto. His legal representative has not responded to calls. (Tina MacKenzie/CBC) He says the amount he’s owed includes both unpaid rent and utilities. The tenant refused to speak with CBC Toronto. His legal representative has not yet responded to requests for comment. Ordered out Kanwar, an IT manager, says he’s filed two applications with … Continue Reading
Some BC property owners ‘panicking’ following short-term rental legislation: realtors lolita, 19/08/2025 Deanna Steele says she has never seen as many condos and vacation homes for sale in Kelowna, BC as she has this month. The founder of Keys to Kelowna Properties Inc., a luxury vacation rental management agency, said the lake-front city’s real estate market is “saturated” by properties zoned for short-term rental use. Some of the sellers are people who bought not that long ago and are already trying to get out. “They thought they were going to make a mint because they saw what was happening in the gold rush. And now they’re realizing, ‘Oh, big mistake,'” said Steele. That gold rush — investing in short-term rentals in Kelowna and many other Canadian cities — could potentially slow to a trickle in the wake of new legislation to regulate short-term rentals introduced by the BC government in mid-October. While the BC Real Estate Association’s chief economist Brendon Ogmundson says it is likely too early for the regulations to have a major impact on listings, he is hearing anecdotal reports from realtors that investors are looking to offload properties as the new rules come into effect. “My guess is that this change in policy will certainly motivate some investors to … Continue Reading
Darwin vacancy rate eases, as rents rise lolita, 14/08/2025 News Corp Australia Network The Darwin rental market remained stable in December. Picture: Fia Walsh Darwin has begun 2024 with the highest capital city vacancy rate in the country even as rental prices trend up. The latest PropTrack Market Insight report showed the Darwin vacancy rate remained stable in December, holding at 2.65 per cent. PropTrack senior economist and report author Eleanor Creagh said Darwin’s rental market conditions had “improved slightly” across 2023. “Over the quarter, the vacancy rate in Darwin was up 0.87 percentage points, the biggest uptick among the capital cities,” he said. “Darwin’s rental vacancy rate also increased 0.55 percentage points across 2023. “Still, Darwin’s rental market is much tighter than pre-pandemic. “The vacancy rate declined 42 per cent compared to March 2020.” PropTrack senior economist Eleanor Creagh. Photo: Supplied Regional NT saw the largest vacancy increase in the country in December, up 0.48 percentage points month-on-month to 2.79 per cent. The vacancy rate was also up 0.66 percentage points for the year. The PropTrack data shows the median rent in Darwin was $590 per week, up 0.9 per cent for the December quarter and 1.7 per cent for the year. MORE NEWS: Darwin real estate more … Continue Reading
The suburbs where negative gearing is going through the roof lolita, 06/07/2025 Tim Lawless, executive research director of Asia-Pacific of CoreLogic, says the figures come as a shock to many people, particularly when investors are highly leveraged. If they’re closer to debt-free, they wouldn’t be so badly impacted. Mortgage costs have risen faster than rents.Credits: Rhett Wyman “But if you have a $500,000 mortgage on a variable rate, then your repayments will have gone up by just over $1000 a month since April 2022 before the first of the rate rises,” he said. “If you’re in a really expensive market, with a 20 per cent deposit, you might be paying $1,500 a week more, although if you’re buying there you might have more equity so, theoretically, you won’t be as highly leveraged. But if you are buying in those markets, repayments are extraordinarily high. “Then again, property values have gone up substantially too, an average of $218,000 more, or 24 per cent, since the start of the pandemic.” Loading Even in some more affordable areas of Sydney, investors are out of pocket. In Canterbury-Bankstown, for example, rents have gone up by $177, while repayments rose $581. In Parramatta, rents have gone up $150, and payments have gone up by $394. “Rents, … Continue Reading
Renters would now be financially better off buying one-third of the places they rent lolita, 04/04/2025 Renters in many major capital cities would now be financially better off buying the apartment or unit that they live in, according to new analysis that further highlights the ongoing rental affordability crunch for lower-income households. The data from private analytics company PropTrack compares the estimated cost of renting a property for 10 years versus purchasing one with a 20 per cent deposit, adding in stamp duty and rates. Early last year, it was found about one-quarter of properties nationally were cheaper to buy than rent. This has now risen to a third. This trend is much more acute when you split out apartments or units. Housing analytics firm PropTrack released this data on November 28, 2023.(Supplied: PropTrack) PropTrack economist Paul Ryan says this trend is emerging not because buying is getting cheaper but because rents keep going up rapidly, especially at the “bottom end” of the market dominated by students, young people and those on lower incomes. “We’ve seen rent growth on units increase quite substantially,” he adds. Housing market analysts say there are many reasons behind the continuing rental crunch, including the resurgence of migration, unwinding trends after the pandemic and a slowdown in new … Continue Reading