Property Price Increase Means Rental Increase
Our apartment hunting in the Lower Mainland of British Columbia, specifically in Tri- Cities (Coquitlam, Port Coquitlam and Port Moody) was so remarkable to us. As the government knows or any individual families, particularly living in the Vancouver area that the housing price is soaring like crazy. As years go by if you follow the news, the value now of a single detached house is more than a million, which was purchased about $400,000+ in the past 20 or 30 years. Well, fortunate those people who bought houses during those eras as the property value is more than doubled currently. As the property cost increases, the rental value increases.
Life as a Tenant
As one of those families in B.C.’s who doesn’t own the so called own dwelling, we have no choice except to rent. We have been renting for 4 years in the high-rise building apartment owned by a Chinese-Canadian conveniently located in downtown Coquitlam. We loved so much the location as almost everything is within my reach despite of the small rental property area and the cost of rent. We have small kids and besides, I don’t drive yet, so living around just a walking distance to the shopping mall, public library, restaurant, church, banks, etc. is very helpful. However, that convenient living has ended when our previous landlord decided to sell the property. The saddest moment was when he gave us a very short notice, just one and half month. Could you imagine that?
The Panic Begun
After our previous landlord has informed us that we must move as soon as possible, then the panic begun! Searching throughout the web, from craigslist to the different property listing sites was endured for so many sleepless nights. We were full of BUTS and IFS at those moments. The hunt was so depressing, frustrating, costly and time-consuming. I couldn’t believe it that finding for a place to live in Lower Mainland is just like you are applying for a job. Why? The landlords are the one who choose to whom they will rent out their property. Regardless of your willingness and capacity to rent their house, condo, basement or whatever type, you have no move if they don’t like you. Isn’t it discrimination the right term for that? Hmmm….
There were available condo units for rent closed to our old place, but the rent was way too much for us for only 2 bedroom apartment. The lowest price was $1,600 plus the utilities. Unfortunately, we don’t want to pay for such rent.
Both my husband and I have jobs and the monthly rent of the 2BR apartments we liked and applied for was way below the rent we’ve been paying for 4 years and still we didn’t able to get the unit. How come? Was it because of we have 2 children? I have read a complaint somewhere online that children are more property destroyer than the dog or cat pet. Really?
The search was so emotional for us. We felt extremely pressured as the deadline of moving out became getting closer and haven’t found yet a place. There were so many people looking for a new place, especially that the many old rental building apartments are subject to demolition and be replaced with high-rise building apartments. Actually, I told my husband that we’ll file a dispute for that short notice our landlord has given us, however, my husband didn’t want to go through all that process. Well, we did not give up, the search continued till we eventually found a place we called home- a home where we are going to build again a new life and our dreams.