Comment 71797

By Undustrial (registered) - website | Posted December 02, 2011 at 12:17:29

I've helped a lot of people through bad situations at the Landlord Tenant Board. The state of rental housing in this city is too often abysmal, and people really suffer as a result. Personally, though, I try to maintain good relationships with my landlords, because I've seen how ugly things can get when things go sour. Inevitably, it only escalates to the point of lawsuits and eviction hearings, and nobody ever really wins.

If you want to understand why these homes are in such poor repair, look at the economics. The landlord doesn't even see most of the rent if there's a mortgage, and more than half of that is likely interest alone. Out of an average $1000 in rent, what actually goes toward the building? And how much of that is available in the short term for repairs/upgrades? For many, I'd bet about $50, which sounds about right when looking at them. Many spend less. Think about that in comparison to the staggering amount of money people spend to live in them over their lifetimes...

I hate to encourage LIUNA's south-mountain developments, but the co-op model has worked pretty well for everyone I know who's lived in 'em (here or elsewhere).

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