Way cleared for 38% hike in heritage apartment rent
Decision highlights flaws in law and will allow landlords to drive up rents, critics sayThis is an important article as far as it goes.
But what it doesn't tell the reader is "Why?"
What was the reasoning that the Residential Tenancy Branch used in making this onerous and very bad decision?
I am guessing that the argument was parity with neighbouring buildings.
How would you like to see your rent on a 2-bedroom flat in an old building climb overnight from $1300 to $1800?
On the shopping street in my neighbourhood, mom and pop stores open and close almost daily. There is only one reason. Landlords jack the rent so far out of reach, people just walk away. One storefront remained empty for over a year and half until the owner found someone brave enough or stupid enough to dive in.
What, if anything, do our benighted governments do about these continuing iniquities?
Nothing that I've noticed.