Silver Oak Capital’s Post

Some Well Deserved Recognition For Landlords It's great to read in this article (https://lnkd.in/eeypZaHy) that 69% of tenants say they have a 'positive experience' with their landlord. It's good to hear the the good, because it's a relationship where the landlord is portrayed as the 'villain' but the research by Aldermore said that's not the case! Now below the headline it states 'Landlords in the UK should ignore what the likes of Shelter and Generation Rent say since most tenants say they have a good landlord', well I don't believe we should. Shelter does play a valuable role in highlighting what's wrong in the PRS and while there are only 69% of tenants that have a positive experience there is work for us all to do. Also, the work they do to highlight homelessness is very valuable and in the current economic climate necessary. Overall, while balance in the debate is important, it's great to see some recognition at last and a new narrative! What are your thoughts? Do landlords get a rough ride? Is there more that landlords should be doing? Are you renting and have experienced a good, or bad, landlord? Let me know in the comments below.

4 YEARS, $41K LOST: LANDLORD'S NIGHTMARE Toronto Landlord's 4-Year Battle: $41,000 in Unpaid Rent & a Broken System Highlighting the Challenges Toronto Landlords Face For four long years, a Toronto landlord has been struggling to evict a tenant who owes over $41,000 in rent and $5,200 in utilities. The tenant, Dea Raffle, has not only stopped paying but has also ignored all attempts at communication, even going so far as to call the police on Singh, accusing him of harassment. The condo was meant to provide retirement income for Singh and his wife, who spent decades saving to purchase it. Now, they find themselves battling an inefficient landlord-tenant board, which many believe unfairly favours tenants. Unfortunately, Singh’s story is not unique. Just recently, a Brampton couple faced a similar nightmare, being owed over $22,000 by tenants who exploited loopholes to avoid paying rent. Although Singh finally received an eviction order from the landlord-tenant board, the tenant’s right to appeal means the process could drag on for months. This case, along with many others, has left landlords feeling frustrated and powerless as the housing crisis in Toronto worsens and the demand for rentals continues to soar. It's a stark reminder of the ongoing struggles in a system that many believe is in desperate need of reform. #TorontoHousingCrisis #LandlordStruggles #EvictionBattle #RentalReform #TenantLandlordDisputes #TorontoRealEstate #HousingCrisis #LandlordRights

Housing affordability has become a major issue at the national level — and one that is top of mind for many voters. Last summer, the Biden administration announced the so-called "Blueprint for a Renters Bill of Rights," a policy initiative that would introduce new rules to protect renters during the screening, leasing and eviction processes. Then in March, the administration floated a package of housing credits and assistance programs, including $20 billion in grants intended to spur new home construction and help lower the cost of homeownership. And just last week, the president spoke at a press conference about a rent cap specifically on corporate-owned properties, which some industry observers are referring to as a "national rent control" effort. What the president said: "I'm not anti-corporate, but corporate profits have doubled since the pandemic. For example, if I'm re-elected, we're going to make sure that rents are kept at a 5% increase — corporate rents for corporate apartments and homes — are limited to 5%. We're going to make a lot of changes that I've been talking about. Because we're going to continue growing this economy." The cap, Biden said, would be on apartments with corporate and private equity landlords. FHFA rule changes are already underway: The comments from President Biden came just a day before the Federal Housing Finance Agency announced new guardrails for renters going into effect next February. The changes are aimed at multi-unit properties financed by Fannie Mae and Freddie Mac and include new rules for landlords, such as: - 30-day written notice for rent increases - 30-day notice of lease non-renewal or termination - A 5-day grace period for late rent payments The rules will apply to new mortgages and refinances by Fannie Mae and Freddie Mac for multi-unit buildings starting in February 2025, and a more thorough description of the new rules will be released next month, the FHFA said in last week's announcement. The agency also noted that a landlord's failure to comply with the new rules "could result in penalties under the loan agreement." Do the rules go far enough? https://smpl.is/9dkso

Such an important discussion to be had. With more and more people seeking housing support and citing poor mental health due to their housing situation, we need to expand our observation of the situation. And part of this has to involve landlords and landlord licenses to address the home ownership crisis. Brilliant piece 👏

In working to partner and create opportunities for affordable housing I became aware of a very significant need. As we work to place individuals in a position to purchase, are we also placing them in, and providing them, the tools they need to maintain and keep their home? Both are equally important ! #affordablehousing #homeownereducation #financialliteracy

New this year in my work with U.S. News & World Report is initiating coverage of the rental housing market, both traditional apartment flats and single-family homes. Some key takeaways from this initial article: - A glut of vacant apartment flats is currently holding the line on price increases or even leading to a decline in asking rents in certain markets, but it is temporary and will likely be absorbed by 2026. - The rise of Build-to-Rent single-family homes is here to stay and will represent an even larger share of new homes for rent in the years ahead. - The rising costs of materials, labor, land and property insurance impact landlords just as much as they do for homeowners and builders of homes for sale, making it more challenging to develop or renovate rental units while keeping rents affordable. - Rent control measures can provide temporary relief to cost-burdened households, but in the long run they frequently backfire by reducing additional supply unless state and local governments step in with subsidies and limit time-consuming, expensive regulations to encourage more development. #multifamily #BTR #rentalhousingmarket #rentalvacancies #askingrents #rentalsupply #rentcontrol #realestate #economy

  In the final stretch of her bid for the White House, Vice President Kamala Harris has made improving housing affordability a core promise of her campaign. In addition to pledging to provide up to $25,000 in down-payment assistance for first-time homebuyers and a plan to drive new housing construction, Harris has also vowed to take on “abusive corporate landlords,” whom she partially blames for rent increases. Nearly half of all renter households spend more than 30% of their income on housing costs, qualifying them as “cost-burdened,” according to US Census data in September. While rent prices are undoubtedly rising, it’s unclear how much of the jump is due to corporate investors who buy up multiple properties. There isn’t a universal definition for “corporate landlords,” though Harris has called on Congress to pass a law that would remove key tax benefits for investors who acquire 50 or more single-family rental homes. “Community after community feels taken advantage of by Wall Street investors and corporate landlords who have bought thousands of single-family homes during recent downturns,” Harris’ policy platform reads. A CNN analysis found that rent increases recently outpaced wage growth in cities with a meaningful presence of big investors. However, these investors’ sway on the housing market is difficult to measure, said Michael Seiler, a real estate and finance professor at the College of William & Mary. “I don’t know if we’re really going to have a firm grasp on their impact, but right now they’re a pretty small share of the market,” Seiler said. “However, they’re all creating demand for housing, and anytime you create that demand, you’ll see home prices push up.” As of 2021, 71% of single-unit rental properties were still owned by individuals, not corporations, according to the most recently available data from the US Census. Ownership by corporate landlords, which CNN calculated by combining limited liability entities, real estate corporations and real estate investment trusts, stood at 16%. Mega-investors, or landlords that have at least 1,000 properties, owned around 3% of homes in the United States as of June 2022, according to an analysis by the Urban Institute. While their share of ownership may seem small on a national scale, these mega-investors have bought up a more significant portion of single-family rental homes in cities like Atlanta (27%), Jacksonville, Florida (22%) and Charlotte, North Carolina (20%), according to Urban Institute data. Some cities with high investor activity have seen considerable rent increases. Among 20 metro areas with a high presence of institutional investors, 13 have seen rent for single-family properties rise at a faster rate than wages compared to a year earlier, according to a CNN analysis of data in August from Zillow and the Bureau of Labor Statistics.

A nightmare caused by an irresponsible, inflationary policy stemming from Ontario’s Residential Tenancies Act. The ORTA requires that landlords get an eviction notice authorized by an independent tribunal referred to as the “Landlord and Tenant Board.” This tribunal is vital in legislation but nearly defunct in practice. The Ontario Ombudsman rightly condemned the Board for its excruciatingly long delays, that has failed to quickly bring justice for tens of thousands of landlords in Ontario. In the story below, we meet a Canadian small business owner who managed to save enough over the years to get an investment condo, but his tenant hasn’t payed rent regularly, resulting in $41,000 in missing revenue for the landlord. I imagine that most regions of the world don’t allow for a tenant to rent a home unless they pay for rent. In Ontario, bad policy aimed at taking power out of landlord’s hands for the sake of political pandering has resulted in a citizen losing out on a sum of money that is greater than a typical annual after-tax income. While I myself am a renter, I also work in real estate. I can sympathize with other renters, but I also know that failure to pay rent by one tenant ultimately gets underwritten into higher rental rates for those who pay. Why? Because mortgages need to get paid. The failure of the Land and Tenant Board has resulted in suffering for many mom-and-pop landlords. While it aims to eliminate landlord greed, it actually results in incentivizing social deviance. You don’t have to be a landlord to be negatively impacted by the horrible enforcement mechanism that is the Land and Tenant Board. https://lnkd.in/gmXvFpNj

Here is the thing: Ifyouare buying 30 or even 40 %, you are entering from a position of disadvantage. Buy at least 60 %, then the government or whoever you are sharing the ownership with, needs to agree to a clause of compulsory sale of their share within a defined period. Otherwise do not go into it. Obviously, the people in this article were ill-advised at the time, or under significant pressure in their lives. The first rule of property purchase is "Location". The first rule of shared home ownership is "With Whom". https://lnkd.in/ghMbhPub #collaborativehousing #housing #housingcrisis #sharedhomeownership

Yesterday, #PresidentBiden delivered the 2024 #StateOfTheUnion address, where he announced the most comprehensive vision for #AffordableHousing initiatives in, well... my lifetime. The White House fact-sheet below details the various proposals that range from benefiting new and existing #homeowners, increasing the new stock of affordable housing, preserving the existing stock and supporting #renters, covering almost every demographic. The last time the #USA had such a #housing effort was in the post-WWII era, which was responsible for almost all of today's current "affordable" housing, like the raised-ranch starter homes, most of which have become too expensive for today's new buyers. From an #investment perspective, landlords, developers and other #RealEstate & #Multifamily operators should be jumping for joy to hear that programs like #LIHTC would be expanded, that there would be a new $20-billion dollars in grants made available to subsidize the building of new affordable housing, and the expansion of #HousingVouchers, which help to guarantee income for operators of affordable housing. While there can always be a call to do more. Today, the call needs to be to do something.