Montreal City Weblog

Kate 07:55 on 2019-10-21 Permalink Reply  

• CommonSense 10:51 on 2019-10-21 Permalink

  Let’s put an end to “renovictions”!

  After that, let’s cry foul about slum lords who let buildings fall into disrepair.

  Here’s a shocker: when policy makes it a more interesting proposition for landlords to have their units sit empty for a year rather than have them rented, we need to rethink that policy.

• Ephraim 15:54 on 2019-10-21 Permalink

  We also need to stop the moratorium on condo conversion of properties under 5 apartments. When a small multiplex (duplex or triplex) goes over the $1M dollar threshold, the ability to get a mortgage becomes too difficult. Any amount over $1M now has a 20% deposit and you can’t get mortgage insurance to lower that. And the banks only offer you 70% of the rent on condition you have good leases. When someone may have the ability to buy one part and rent it out… but it’s almost impossible to do as co property and even if you can, you are stuck with an inability to get a standard mortgage, only 3 banks will write a mortgage on the property.