It was reported the other day by CBC that a fake landlord has been taking cash from international students. He’s renting out apartments from unsuspecting landlords and then sub-letting them to international students desperate for accomodation.
Small one bedroom apartments are being rented to four or five people anywhere from $400 – $900 per person per month. While perhaps not completely honest, and certainly morally suspect, that is not illegal. A tenant can sub-let an apartment (with consent of the landlord). However, you must pay rent…which our fake tenant has been avoiding apparently.
Of course, if you don’t pay rent you get evicted. Right? Wrong. He was given an eviction notice in November but he’s still legally allowed to occupy the suite. A previous landlord claims that they spent $30,000 evicting him from two of her suites.
I know that this sort of thing happens throughout our city. As a Vancouver realtor I see a lot of Vancouver condo suites…and a few of them have clearly been sub-let under similar circumstances. This practice appears to be a particular problem in downtown Vancouver where demand for rental accomodation (and proximity to ESL schools) is highest.
For international students, this type of living accomodations are not unusual. Renting accomodations with two (or more) to a room, beds infested with bedbugs, and trash and debris from previous inhabitants is more the norm than the exception.
As a landlord (or Vancouver real estate investor), it’s critical that you check all references thoroughly when selecting a tenant. It’s also important to regularly inspect your rental property (you have a right to enter into it with 24 hour notice). Also, if you are a non-resident owner find a quality, reputable property manager that will take these steps for you. None of this will guarantee that you’ll avoid problems, but it will certainly help.
If you still have questions, or you are interested in buying or selling then you can contact Sebastian Albrecht, Vancouver Realtor or send me a quick email.
Copyright © 2008 Vancouver Realtor Blog by Sebastian Albrecht, Vancouver Realtor with Royal LePage Westside ”Vancouver Real Estate Investors Be Wary of Fake Tenants”
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