this post was submitted on 06 Sep 2023

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'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month (toronto.ctvnews.ca)

submitted 2 years ago by girlfreddy@lemmy.ca to c/canada@lemmy.ca

292 comments fedilink hide all child comments

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

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[+] Dkarma@lemmy.world -238 points 2 years ago (135 children)

You can't afford to buy. If not for landlords who would you rent from? Where would you live?

The idea that if there were no landlords you'd be able to afford a house is absurd.
I agree corporations should be limited in how many single.family homes they are allowed to buy but this whole "all landlords are scum ". Schtick makes u look pathetic and ignorant of the facts.

[–] jcrm@kbin.social 46 points 2 years ago (24 children)

Public housing. That's where you rent it from. Landlords serve no purpose in society that can't be solved in better ways.

For example, I would gladly purchase my apartment. The rent that I pay would be roughly equal to mortgage payments on the approximate value of the unit. But instead I'm stuck paying that amount so someone else can own it. Just cut out the parasite in the middle.

[+] CanadaPlus@lemmy.sdf.org -12 points 2 years ago (13 children)

Isn't there another similar unit somewhere you could buy, then? You're right, it sounds like your landlord isn't serving much of a role here.

[–] jcrm@kbin.social 11 points 2 years ago (1 children)

There is not. An equivalently sized apartment in my neighbourhood is on the market for $1.6M at least. Because the only things being built are "luxury" units made for investment, not housing people.

Also, I wouldn't qualify for a mortgage equal to my rent despite the fact I've been paying rent at that rate for nearly a decade.

[–] CanadaPlus@lemmy.sdf.org -5 points 2 years ago (1 children)

And you think your apartment is worth a lot less? I don't know if I buy that, honestly, unless it's an absolute tear-down. I've played with markets enough to learn that there's never an easy shortcut.

[–] jcrm@kbin.social 1 points 2 years ago (1 children)

Alright, I'm done being nice here.

Yes, it is worth less. I know because they just did a valuation of it a week ago. A mortgage on it would be affordable for me. I don't care what's "believable" for you. Fuck off.

[–] CanadaPlus@lemmy.sdf.org 1 points 2 years ago

Alright. You're either very lucky or wrong, but have a nice life.

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