leadnow has a plan to cancel rent and mortgage

[EZM]

Originally Posted by 260 Rem

I do not suppprt the gift of taxpayer money to any business or individual. IMO any “help” should be given in the form of interest free loans only. As it stands, our grandchildren’s kids will still be paying off the national debt incurred during C-19.
Every decision has consequences. How is investing in revenue property any different than investing in any stock? Investment losses are losses. Or maybe we should just have the Gov make up our investment losses as well? Ridiculous!
How about a floating an idea for those of us that do not take any of this free money? Like a “preferred” tax rate? Or being able to claim back the sales tax that is sure to come here in Alberta?
What ever happened to to the the anti-socialist voices in this forum? Time for you to speak up?

I am TOTALLY at peace with the decline of my equity investments. Despite the fact with the market down I have lost a significant portion of my "equity".

I am TOTALLY at peace with making a decision to purchase a property with my hard earned/saved cash, and take a small mortgage and use a line of credit to create an investment through a rental property.

What I'M FURIUOS about is the government encouraging mouth pieces telling people NOT TO PAY ME RENT

I have paid taxes every year (and far, far more than the average Joe)

I have NEVER been on social assistance

I have created jobs and helped our economy and contributed to my country which I call home

I have and will continue to HELP out some of my tenants who need help (and it makes me happy to do it and gives me peace)….

…..but I have no way to recover it..... and what does twinkle toes do for me.

I am normally looking at a 20-25% return on these properties - if I loose 1/3 of my rental income ….guess what, I'm going broke.

Who helps me?

Landlords are not faceless evil corporate tycoons, they are people like me who have a full time job and need to have a job until they can one day retire and live off what they have built.

And, to make matters worse, I took a 20% pay cut on furlough yesterday.

Clearly this will not qualify me for any assistance of any sort (nor am I asking for it in my case) and I will be fine, as long as I can recover 75% of my rental income.

If not, I'm going into the hole. Selling off equity where I've already lost 30%-40% value in, meaning for every $100 in stock I sell to pay my bills , $150 of value in stock 90 days ago gets cashed in - so even my recovery plan hurts.

Perfect.

Twinkle toes needs to think about this for a second before saving the renters of the world at the cost of others who have worked, paid taxes, never been a burden to the system, and have been loyal Canadians contributing to building an economy for us all.

I am not Mobil Exxon

I am a father, friend and fellow Canadian

[hal53]

Originally Posted by EZM

I am TOTALLY at peace with the decline of my equity investments. Despite the fact with the market down I have lost a significant portion of my "equity".

I am TOTALLY at peace with making a decision to purchase a property with my hard earned/saved cash, and take a small mortgage and use a line of credit to create an investment through a rental property.

What I'M FURIUOS about is the government encouraging mouth pieces telling people NOT TO PAY ME RENT

I have paid taxes every year (and far, far more than the average Joe)

I have NEVER been on social assistance

I have created jobs and helped our economy and contributed to my country which I call home

I have and will continue to HELP out some of my tenants who need help (and it makes me happy to do it and gives me peace)….

…..but I have no way to recover it..... and what does twinkle toes do for me.

I am normally looking at a 20-25% return on these properties - if I loose 1/3 of my rental income ….guess what, I'm going broke.

Who helps me?

Landlords are not faceless evil corporate tycoons, they are people like me who have a full time job and need to have a job until they can one day retire and live off what they have built.

And, to make matters worse, I took a 20% pay cut on furlough yesterday.

Clearly this will not qualify me for any assistance of any sort (nor am I asking for it in my case) and I will be fine, as long as I can recover 75% of my rental income.

If not, I'm going into the hole. Selling off equity where I've already lost 30%-40% value in, meaning for every $100 in stock I sell to pay my bills , $150 of value in stock 90 days ago gets cashed in - so even my recovery plan hurts.

Perfect.

Twinkle toes needs to think about this for a second before saving the renters of the world at the cost of others who have worked, paid taxes, never been a burden to the system, and have been loyal Canadians contributing to building an economy for us all.

I am not Mobil Exxon

I am a father, friend and fellow Canadian

The problem being is who votes for twinkle toes??????..not Mobil Exxon.....

[Ken07AOVette]

EZM-

'furious'

[MyAlberta]

Originally Posted by liar

by"gov" you me and the rest of the taxpayers , right ?

As am I. Stepping up to the banks with appropriate legislation would help Then again, disrupting the bank could bring the whole house down. Did I say that.

[jrowan]

Originally Posted by EZM

I am TOTALLY at peace with the decline of my equity investments. Despite the fact with the market down I have lost a significant portion of my "equity".

I am TOTALLY at peace with making a decision to purchase a property with my hard earned/saved cash, and take a small mortgage and use a line of credit to create an investment through a rental property.

What I'M FURIUOS about is the government encouraging mouth pieces telling people NOT TO PAY ME RENT

I have paid taxes every year (and far, far more than the average Joe)

I have NEVER been on social assistance

I have created jobs and helped our economy and contributed to my country which I call home

I have and will continue to HELP out some of my tenants who need help (and it makes me happy to do it and gives me peace)….

…..but I have no way to recover it..... and what does twinkle toes do for me.

I am normally looking at a 20-25% return on these properties - if I loose 1/3 of my rental income ….guess what, I'm going broke.

Who helps me?

Landlords are not faceless evil corporate tycoons, they are people like me who have a full time job and need to have a job until they can one day retire and live off what they have built.

And, to make matters worse, I took a 20% pay cut on furlough yesterday.

Clearly this will not qualify me for any assistance of any sort (nor am I asking for it in my case) and I will be fine, as long as I can recover 75% of my rental income.

If not, I'm going into the hole. Selling off equity where I've already lost 30%-40% value in, meaning for every $100 in stock I sell to pay my bills , $150 of value in stock 90 days ago gets cashed in - so even my recovery plan hurts.

Perfect.

Twinkle toes needs to think about this for a second before saving the renters of the world at the cost of others who have worked, paid taxes, never been a burden to the system, and have been loyal Canadians contributing to building an economy for us all.

I am not Mobil Exxon

I am a father, friend and fellow Canadian

Again, you should apply for the covid 19 emergency benefit when applications open. That rental income should have been reported as self employment income on your taxes. So loss of self employment income means you qualify for the benefit.

If you setup a holding company for the property I hope you were paying yourself a wage prior to March 15th so that the company qualifies for the wage subsidy. If not your only other option is the interest free (for a year) business loans that are being rolled out.

[EZM]

Originally Posted by jrowan

Again, you should apply for the covid 19 emergency benefit when applications open. That rental income should have been reported as self employment income on your taxes. So loss of self employment income means you qualify for the benefit.

If you setup a holding company for the property I hope you were paying yourself a wage prior to March 15th so that the company qualifies for the wage subsidy. If not your only other option is the interest free (for a year) business loans that are being rolled out.

If I can break even through this financial crisis I will not be applying for, or taking any government benefit. Purely on principle.

No one in my family, ever, despite layoffs and other hardships has ever had social assistance of any kind.

We are immigrants, and are thankful for the opportunity here in Canada. We owe this back to the country (despite how some administrations squander my tax dollars - but that's another conversation).

I am just upset as how our government would help one set of people, yet hurt others as collateral damage.

Kind of like how Ottawa hurts Alberta.

My rant is over.

[EZM]

Originally Posted by Ken07AOVette

EZM-

'furious'

Yup …. CAPS LOCK …. spelling mistakes and bad grammar rants ….. lol

Thanks for the phone call ….. I guess it's all about perspective sometimes.

At the end of the day, we will live another day, have food in the fridge to eat …. so I guess it's all relative.

We will be impacted by this, and I can't change that.

[58thecat]

Originally Posted by Ken07AOVette

Sorry- in simplest terms; YOUR problem is not OUR problem. That will be the banks answer. If you dont make it they take your property eventually.

Uber rich people with nothing to lose have been seen giving (very pubicly) free rent for a short term and now everyone thinks they are entitled to it.

It is being screamed loudest by the people you would expect, 'you dont have to pay mortgage so I am not paying rent.'

Some can not get past the "deferral" part. Even with a hammer they are so thick. Or so entitled. It has been explained ad neseaum that the owner has a significant investment that they are on the hook for, they may get a deferral but will have to make it up, likely with penalties down the line. They scream louder.

I always explain to my clients when I am doing recovery that the stories of woe, the issues the debtors are going through are their issues, not my clients'.

Your problem is not our problem.

perhaps but everybody's financial situation is different and maybe there is a way to work with your financial institution but you will never know unless you book an appointment and sit down....seen some very creative financial plans over the years.

[58thecat]

Originally Posted by zabbo

I have my health ad so does my family. At least for now. My old granny and my Mom always said the same as yours. Tuck a little away for a rainy day. We did just that. As mentioned else where, I'm not that cold as to throw tenants out of their home for no reason. I'm more than willing to work with people. Wait a bit until EI or government money shows up. Ok. Can't make the entire payment? OK, I can knock a bit off for a couple months and see where we are then. The issue I have here is people demanding free rent and no end in sight. What this is really doing, is downloading the financial burden to landlords. I have to presume the idea is, they have revenue property, therefore they must be rich and they can just suck it up and take the hit. Problem is, I still have bills to pay. One way or another we'll get through this, but free rent for an extended period will not be part of it!

Good luck on the hard water!

I agree that this don't pay for your rent is b.s. as it will not benefit any landlord....the tenants do the best they can to make ends meet as anyone else and should not abuse the system but there will be the occasional one unfortunately...hopefully not yours.

good luck.

[HyperMOA]

Originally Posted by EZM

If I can break even through this financial crisis I will not be applying for, or taking any government benefit. Purely on principle.

No one in my family, ever, despite layoffs and other hardships has ever had social assistance of any kind.

We are immigrants, and are thankful for the opportunity here in Canada. We owe this back to the country (despite how some administrations squander my tax dollars - but that's another conversation).

I am just upset as how our government would help one set of people, yet hurt others as collateral damage.

Kind of like how Ottawa hurts Alberta.

My rant is over.

I think you need to re-evaluate how you look at government programs. This isn’t you taking from the government; it’s you giving less to Trudeau. I guarantee that if you received every single grant, program, subsidy or whatever you would still be a net contributor at the end of the year.

On April 2 of this year the government will take your money and hold onto it interest free till the following April when your taxes are due. Why do you think borrowing their (yours actually) money interest free is bad when they have done the same to you every year that you have been employed? It’s not welfare in the least.

[Ken07AOVette]

Originally Posted by HyperMOA

I think you need to re-evaluate how you look at government programs. This isn’t you taking from the government; it’s you giving less to Trudeau. I guarantee that if you received every single grant, program, subsidy or whatever you would still be a net contributor at the end of the year.

On April 2 of this year the government will take your money and hold onto it interest free till the following April when your taxes are due. Why do you think borrowing their (yours actually) money interest free is bad when they have done the same to you every year that you have been employed? It’s not welfare in the least.

This- very smart well thought out reply.

[Twisted Canuck]

Originally Posted by zabbo

Just thought I 'd throw this out there and see what you may think. Below is copy of an email I sent to these folks. Thoughts?

Good morning.

Just a note with a bit of information and a question if I may be so bold.

I am a recently retired senior on a fixed income. My wife and I have worked very hard over the last 30 to 35 years. We saved and went without many things that people around us were enjoying. New cars, nice trips, new furniture and lots of toys come to mind. Instead of purchasing such items we bought a revenue property. This was done, because I worked construction jobs and as such did not have nice retirement and pension plan. The rent from the revenue property is my pension! We are not a huge corporation, just a couple that is getting older and trying to get by like everyone else. We are not so cold as to just evict tenants because they are short a bit on the rent but we are not rich either. The cancellation of rent sounds great.......if you rent. But what if you count on that rent to pay your monthly bills? With this said, may I point out, there will be some persons that take advantage of your plan and refuse to pay their rent, even if they are still working or otherwise able to make that payment.

Now for the question. If you are so anxious to protect renters, in what fashion are you willing to protect senior citizens such as myself?

A view from the other side of the fence.

Well said. My wife and I have had a few rentals over the years, and I managed property for my dad when I was younger. I know your side of the fence. My wife and I were truly glad we sold our last rental property four years ago, we were tired of the headaches involved. When we saw all the government 'suggestions' (read demands) that landlords just let the rent slide for a while, I thought of people I know in exactly your position. I feel your pain.

Nice system if you are a renter, and if you own the property, you are viewed as just another 'rich fat cat' anyway. Man it makes me boil inside...always the angry resentful, who want to steal from 'the rich' and call it 'equitable'. As if. Most socialists don't give a damn about the poor, they just hate the rich (or anyone they perceive to be) and want to tear them down, so everyone can be miserable together.

[Twisted Canuck]

And as long as I am here and thinking about this.....

It's been mentioned a number of times here about applying for government assistance that is available because of Covid-19, and so forth, and I have just one thought on the matter.

Good luck with getting it any time soon. This is the government that can't even fix it's own Phoenix payroll system. It has been a 5 year boondoggle that has cost a couple billion dollars I believe (sounds like the firearms registry, right?)....some get paid, some don't, some get overpaid. It's a mess.

But we are supposed to believe in these 'unprecedented times' that suddenly government efficiency is going to miraculously happen? *BOOM*!!! Just like that, they are going to put a whole bunch of programs into place and start firing checks off, to all those who need help, and to all those who are masters at playing the system any way they can....and it's gonna go smooth?

I for one see this becoming a place to hire a whole bunch more government employees (job creation!) to make a horrendous cock up, that will help maybe a few while making the many continue to suffer....it's going to be a giant, colossal, cock-up. I mean, GIANT.

We're from the Government. We're here to help.

Bless my soul though, it will surely cost more than they say it will, by an order of magnitude or two, and it will accomplish a small fraction of what they say it will. And all our grandkids can pay for it. And theirs too probably.

[EZM]

Originally Posted by HyperMOA

I think you need to re-evaluate how you look at government programs. This isn’t you taking from the government; it’s you giving less to Trudeau. I guarantee that if you received every single grant, program, subsidy or whatever you would still be a net contributor at the end of the year.

On April 2 of this year the government will take your money and hold onto it interest free till the following April when your taxes are due. Why do you think borrowing their (yours actually) money interest free is bad when they have done the same to you every year that you have been employed? It’s not welfare in the least.

Fair statement, excellent perspective.

I also think that other people can benefit perhaps more than me, and me taking a fair share piece of the pie, leaves less for the rest that need more.

I guess it's a matter of principle. I am very well aware of how much I pay the government and it sucks when you really think of who contributing and who's consuming.

In this "consumer" portion there are the lazy, deadbeat consumers will exist tomorrow as they did yesterday (these are not the ones I'm trying to help) - it's others, like single moms, low income workers with jobs, the legitimate people who make less, have less, but do their part to contribute than need a hand up. I am happy to help those.

If there was a way for me to recover some losses, I will definitely explore that, if it makes sense to do so. I know for sure I will come out the other end of this crisis in a weaker position compared to when I went into it. (like everyone I guess).

[DiabeticKripple]

Renters need to pay their rent.

While the landlords can defer their mortgages, they will have to still pay that portion, plus interest on the mortgage.

If renters didn’t pay, they are essentially living for free in someone else’s house.

If possible work out a payment plan before the end of the lease. If there is 6 months left and they skip 3 months at $1000/month, then they should be expected to shell out another $500/month to cover the rent for the 3 months.

[burbotman]

Originally Posted by DiabeticKripple

Renters need to pay their rent.

While the landlords can defer their mortgages, they will have to still pay that portion, plus interest on the mortgage.

If renters didn’t pay, they are essentially living for free in someone else’s house.

If possible work out a payment plan before the end of the lease. If there is 6 months left and they skip 3 months at $1000/month, then they should be expected to shell out another $500/month to cover the rent for the 3 months.

Well said!

[fishtank]

Originally Posted by DiabeticKripple

Renters need to pay their rent.

While the landlords can defer their mortgages, they will have to still pay that portion, plus interest on the mortgage.

If renters didn’t pay, they are essentially living for free in someone else’s house.

If possible work out a payment plan before the end of the lease. If there is 6 months left and they skip 3 months at $1000/month, then they should be expected to shell out another $500/month to cover the rent for the 3 months.

Sadly that not going to happen as most sleazy renters will try to moved out in the middle of the month.. I had to deal with that crap few year back

[Ken07AOVette]

Originally Posted by fishtank

Sadly that not going to happen as most sleazy renters will try to moved out in the middle of the month.. I had to deal with that crap few year back

The truly sleazy renters will squat and refuse until they are actually evicted, which takes time and causes more issues as the sleazebags destroy the place.

[zabbo]

Very happy to report that the rent was paid this morning just like clock work! No one has lost their job and things are looking good for at least the
next while.

I hope that's the case for most people on both sides of this fence! For those that are having problems, hope you manage to come to some sort of agreement that works for both parties! Tough times for many people!

[1stLand]

Unfortunately most millenials out there fail to grasp basic concepts about money and debt and repayment. They characterize all landlords as being mortgage free boomers who are rich.

Thanks to the CBC and other left-wing canadian media consortiums.

I have yet to see one story on the news highlighting the original posters predicament.

This is why landlords are being punished.

I am 35 and I have had a rental property now for 11 years. My tenants paid their rent yesterday. I didn't even have to contact them. Just business as usual.
Some aren't so lucky.

[Jayhad]

Am I missing something? I thought I read that a renter can not be evicted before May 1st for none payment.... therefore can't you wait a week or two then evict?

I suspect the answer is the landlord has a fraction of the rights the renter does.

If rent doesn't get paid doesn't that constitute a breaking of the rental contract?
Could a landlord then raise the rent the next month as the contract is no longer valid?

Man there was a time I thought of getting a rental property, I'm always hearing negative stories for the landlords though...

[waldedw]

Originally Posted by zabbo

Very happy to report that the rent was paid this morning just like clock work! No one has lost their job and things are looking good for at least the
next while.

I hope that's the case for most people on both sides of this fence! For those that are having problems, hope you manage to come to some sort of agreement that works for both parties! Tough times for many people!

Same here, just got back from my 5 km walk in the fresh air and had an EMT for the rent, same guy been renting since 2008, never and issue and hope not to. Having said that with what's happening now if he did have an issue I would work it out with him.

[58thecat]

It should be damage deposit and one months rent up front, damage deposit is equal to the agreed one month rent cost.
If the renter decides not to pay for one months rent then the landlord has the right to take the initial one months rent and immediately a 30 day clock starts counting down that the renter will be evicted, no questions asked, at that point a final walk through and any damage the damage deposit is used for repairs and remaining funds returned to renter...landlord must show receipts for repairs...this applies all year round...if renter wishes to attempt to stay past the 30 days they are removed by LEO's...

Another option is to work something out but if that is not the case the clock starts ticking to eviction time....

All other matter as per the lease agreement apply....

Now I know there are wankers on both sides of the fence out there as in renters and landlords but we are talking soley about the idiots that basically squat for free....

Good luck to those who rent out there hopefully your tenants are ethical people.

[nick0danger]

Man before y'all get your panties in a knot, have you taledk to your Renters? I asked mine, and he said all good, ill let you know if that changes.

[dmcbride]

Originally Posted by zabbo

They are a socialist group that support just about anything that might be anti establishment. There is movement in B.C. right now encouraging ALL renters in the province to refuse payment of rent in solidarity with those that can't or are having problems. Not sure they are behind it, but that would be right up their alley!

Leadnow is foreign funded trash, economic terrorists.

[HyperMOA]

Originally Posted by EZM

Fair statement, excellent perspective.

I also think that other people can benefit perhaps more than me, and me taking a fair share piece of the pie, leaves less for the rest that need more.

I guess it's a matter of principle. I am very well aware of how much I pay the government and it sucks when you really think of who contributing and who's consuming.

In this "consumer" portion there are the lazy, deadbeat consumers will exist tomorrow as they did yesterday (these are not the ones I'm trying to help) - it's others, like single moms, low income workers with jobs, the legitimate people who make less, have less, but do their part to contribute than need a hand up. I am happy to help those.

If there was a way for me to recover some losses, I will definitely explore that, if it makes sense to do so. I know for sure I will come out the other end of this crisis in a weaker position compared to when I went into it. (like everyone I guess).

Not trying to beat a dead horse or anything here; just a little bit more of, call it, "my perspective".

I get that you want to help people. Having said that, the government does not do 1 thing well or efficiently. If you pay $100 of taxes the person you want to help will receive $8.42 from that $100. The government makes $91.58 just disappear. (This is obviously a made up number, but I think you know what I'm getting at.)

Knowing that the government is inefficient and wasteful, I give you the following challenge. While filling your taxes and going forward I encourage you to apply for every tax grant, deduction, or write-off you are able to. Take the extra money that you normally would've given Trudeau and truly help somebody. Even if it only amounts to $100. Take that $100 to a local church or school. They know people right in your community that are truly struggling. Ask for them to give it to people in need. This way, $100 of your $100 is going to help that single mom not $8.42!

But maybe hold off going to the school until the ol Corona blows over.

[MyAlberta]

Originally Posted by Jayhad

Am I missing something? I thought I read that a renter can not be evicted before May 1st for none payment.... therefore can't you wait a week or two then evict?

I suspect the answer is the landlord has a fraction of the rights the renter does.

If rent doesn't get paid doesn't that constitute a breaking of the rental contract?
Could a landlord then raise the rent the next month as the contract is no longer valid?

Man there was a time I thought of getting a rental property, I'm always hearing negative stories for the landlords though...

It’s probably a lot less this month, but image month end traffic. Tenants who have committed to a new place, finding it not vacant, and then backing up the Tenants behind them. Ouch. I don’t think Landlords are eager to evict. The vacancy rate is up there.

All rents are in on my side, to which I’m thankful.

[Lamburt]

I side with the renters on this. Landlords are parasites. They don't add value like a beneficial business does, they extort money from people by having monopolized something that's essential for living. Poor people are forced to pay them because there is practically no other option. It's similar to how people bought up all the toilet paper when the pandemic hit, hoping to sell it 10X markup, only with housing for some reason it's been normalized and the government is complicit in it, while with toilet paper it's rightfully viewed as scummy.

You are worried about your retirement, but you don't care that your poor tenants will probably never own their own house, let alone have any retirement of their own, thanks to housing being unaffordable, thanks to people like you monopolizing it. You say they are "entitled" because they don't want to pay rent, but you don't see anything wrong with your own feeling of being entitled to get $1000+/mo from them in exchange for practically no work on your part.

In my opinion, Canada should regulate the housing market. People should not be allowed to buy up 10+ houses. Foreign ownership should be banned until housing is affordable to Canadians. Perhaps renting should only be allowed for properties specifically zoned for it. Although your easy money retirement dreams would suffer, we'd be better off by most other metrics.

Otherwise, wealth inequality will continue to grow. Wealth inequality leads to civil unrest. If it goes far enough, it ends up with the poor people cutting off the heads of the rich people. History shows this quite clearly so don't act shocked if, after you've monopolized property and are getting paid for doing nothing, your serfs start to stand up for themselves against your system and throw a wrench in your plan for easy money.

Unfortunately Canada appears to be doing the opposite. More immigrants to push housing prices higher. Free money to prop up all the people who are overextended themselves because they bought housing at ridiculous prices, in many cases buying more housing than they needed to try to extort money from those less fortunate. It's no surprise that crime and civil unrest are on the rise. Hopefully you have an exit plan as housing will end up worthless if the cities turn into slums.

[Sporty]

Originally Posted by zabbo

They are a socialist group that support just about anything that might be anti establishment. There is movement in B.C. right now encouraging ALL renters in the province to refuse payment of rent in solidarity with those that can't or are having problems. Not sure they are behind it, but that would be right up their alley!

Not just BC. Canada and worldwide, has these groups popping up. The rent strike initiative ramped up when Italy put a freeze on rents and mortgages. I've moled into a couple of these groups as I am a landlord too. Much of the resources they're sharing is coming from other groups in the US and Europe.

Much to the dismay of these organizers though, most people have paid their rents for April and many have reported that their "evil" landlords have worked out payment arrangments with them for future months. Landlords who are working with their tenants dispels the notion that we're all just a bunch of greedy land barons with no empathy. These groups rely on stoking anger and fear in people and if a landlord has shown empathy and cooperation with their tenants, the rent strike organizers lose their power of gaslighting others into believing that they're being abused. Most of these organizers are the same ones who will jump on any protest but their numbers aren't all that big.

All that said, there are definitely some shifty slumlords out there who are ruthless and make it hard for the rest of us.

[Smoky buck]

Originally Posted by Lamburt

I side with the renters on this. Landlords are parasites. They don't add value like a beneficial business does, they extort money from people by having monopolized something that's essential for living. Poor people are forced to pay them because there is practically no other option. It's similar to how people bought up all the toilet paper when the pandemic hit, hoping to sell it 10X markup, only with housing for some reason it's been normalized and the government is complicit in it, while with toilet paper it's rightfully viewed as scummy.

You are worried about your retirement, but you don't care that your poor tenants will probably never own their own house, let alone have any retirement of their own, thanks to housing being unaffordable, thanks to people like you monopolizing it. You say they are "entitled" because they don't want to pay rent, but you don't see anything wrong with your own feeling of being entitled to get $1000+/mo from them in exchange for practically no work on your part.

In my opinion, Canada should regulate the housing market. People should not be allowed to buy up 10+ houses. Foreign ownership should be banned until housing is affordable to Canadians. Perhaps renting should only be allowed for properties specifically zoned for it. Although your easy money retirement dreams would suffer, we'd be better off by most other metrics.

Otherwise, wealth inequality will continue to grow. Wealth inequality leads to civil unrest. If it goes far enough, it ends up with the poor people cutting off the heads of the rich people. History shows this quite clearly so don't act shocked if, after you've monopolized property and are getting paid for doing nothing, your serfs start to stand up for themselves against your system and throw a wrench in your plan for easy money.

Unfortunately Canada appears to be doing the opposite. More immigrants to push housing prices higher. Free money to prop up all the people who are overextended themselves because they bought housing at ridiculous prices, in many cases buying more housing than they needed to try to extort money from those less fortunate. It's no surprise that crime and civil unrest are on the rise. Hopefully you have an exit plan as housing will end up worthless if the cities turn into slums.

I thought about typing a logical response but then thought no let’s not go into crazy town because common sense cannot be found there