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What can I afford/What will my costs be?

What can I afford/What will my costs be?

Old Aug 28th 2015, 12:00 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by bert07 View Post
Thanks for the info so far - its really useful to hear it from the real world!

I suspected there would be extra deductions to include so its really good to get my head around what they are. I was looking at the alberta.ca tax deductions webpage I think. I would definitely rather work with the lowest figure and be comfortable than the highest figure and find ourselves short - I will have a uk wage coming in for a few months after the move which is the short term buffer zone but I'd rather not need to be touching that for every day living.

For the renting - we rent in the UK currently and have always made an offer for an extended contract/ready to move quickly type trade off so am more than happy to discuss with landlords. We will be looking to move in in Nov/Dec so the savings made by having someone in before christmas and avoiding a dead few weeks is often more than the reduced rent rate losses.
This is the only calculator that is sure to be correct.
Payroll Deductions Online Calculator

You have to tweak with a few fictitious names to get the result.
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Old Aug 28th 2015, 1:23 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by JamesM View Post
I'd think $2k would cover your day to day costs comfortably.

Remember when you make offers on places to rent that you can low ball.

I've never paid asking in Canada. Always 15 to 20 percent less. My advice is look at places for rent at $2200 to $2300 and make offers of $2000. People are always nervous about vacancy periods so play on that.
Greatly depends where you are. There are places in BC with such demand and low vacancy a landlord would laugh if you offered less, come to Squamish, for every rental there are multiple people wanting and there have even been some rent wars with people offering more then the landlord is asking just to secure a rental.

Buying for the most is at asking price or slightly above, it's a sellers market right now.

More people wanting to live here then available housing, heck people are renting rooms out now for 700-1,000 per month because people are so desperate for housing.

While tenants on month to month tenancy agreements are protected by rental control and landlords can only raise the rent 2.5% this year, those on fixed term tenancies with a move out clause are not covered by rental control, and are averaging 20-25% rent increase for renewal.

Tenants currently have no room to negotiate, a landlord will just move on to the next person.

Vancouver market for rentals in the good area's are similar, landlords have no issues finding a tenant and have no reason to lower the rent.

If you can't pay 1,000+ for a 1 bedroom apartment in this town, well hopefully you have a car to sleep in...

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Old Aug 28th 2015, 2:32 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by Jsmth321 View Post
Buying for the most is at asking price or slightly above
That's not true

Originally Posted by Jsmth321 View Post
While tenants on month to month tenancy agreements are protected by rental control and landlords can only raise the rent 2.5% this year, those on fixed term tenancies with a move out clause are not covered by rental control, and are averaging 20-25% rent increase for renewal.
That's not true

Originally Posted by Jsmth321 View Post
Tenants currently have no room to negotiate, a landlord will just move on to the next person.
That's not true for many
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Old Aug 28th 2015, 3:59 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by el_richo View Post
That's not true



That's not true



That's not true for many
I am talking about my location and all of the above is true.

On average houses sold in this town according to the real estate agents my wife works with, houses in this town are selling at or slight above asking with multiple offers, so yes it is true.

Yes, those on leases with a move out clause are not protected by the rent controls in BC, it only applies to those on month to month tenancy agreements, the article below from the Vancouver Sun last week shows this as did asking the tenancy board when I called and asked them.

The average rent in this town is increasing at lease renewal and when new tenant moves in on average 20% to 25%.

"In B.C., landlords who use month-to-month rental agreements must abide by annual caps on rent increases — this year, it was 2.5 per cent. Landlords who uses fixed-term leases that include “move out” clauses, on the other hand, can raise rents by whatever amount they choose once the term is up."

http://www.vancouversun.com/business...576/story.html

Again as I stated before, those on fixed term lease with a move out clause have no rent protections, only those on month to month agreements do.

In this town a renter has no space to negotiate, there are more people needing housing then housing, landlords have no reason to rent for less and currently most are not.

"a lease that says you must move out at the end of
the lease. You can only stay if you sign a new agreement
with the landlord. Be careful! The new agreement does
not have to contain the same terms because it is, in effect, a
new tenancy. Also, rent can start at any amount because
it is a new agreement"

http://tenants.bc.ca/wp-content/uplo...de-English.pdf

One of many local stories about the rental issues here.

http://www.squamishchief.com/news/lo...mish-1.2029522


Apartments going for 800 a month 18 months ago are now going for 1,200+

People are renting rooms out for 700-900 per month, last night someone was offering a room for 1,000 a month, not an apartment but a room.

Last edited by scrubbedexpat091; Aug 28th 2015 at 4:26 am.
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Old Aug 28th 2015, 4:20 am
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Default Re: What can I afford/What will my costs be?

It is correct that month to month tenancy are subject to the Rent Control Act. For 2016 it is 2.9%. However a landlord can apply to the board for higher increases under certain circumstances.

A fixed term tenancy is a contract, which bind the owner and tenant. As with anyone entering an agreement, unless they fully understand the terms and implication of the arrangement, they should seek professional advice.

A rental building is an investment for the owner, with an intention to make a profit, it is not social housing. If market rates increase dramatically, an owner is losing out by not being able to adjust their charges accordingly. Charges according to market forces are common in many sectors of commerce.

With a fixed term agreement the tenant has security for the period of the agreement, that is what they agreed to. How renewals are dealt with are a contractual matter.

If an agreement ended and local rental rates had gone down, forcing a landlord to reduce rent, I doubt anyone would be complaining then.
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Old Aug 28th 2015, 9:04 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by Aviator View Post
It is correct that month to month tenancy are subject to the Rent Control Act. For 2016 it is 2.9%. However a landlord can apply to the board for higher increases under certain circumstances.

A fixed term tenancy is a contract, which bind the owner and tenant. As with anyone entering an agreement, unless they fully understand the terms and implication of the arrangement, they should seek professional advice.

A rental building is an investment for the owner, with an intention to make a profit, it is not social housing. If market rates increase dramatically, an owner is losing out by not being able to adjust their charges accordingly. Charges according to market forces are common in many sectors of commerce.

With a fixed term agreement the tenant has security for the period of the agreement, that is what they agreed to. How renewals are dealt with are a contractual matter.

If an agreement ended and local rental rates had gone down, forcing a landlord to reduce rent, I doubt anyone would be complaining then.
I've never had a landlord lower the rent, but I am sure its happened to someone at some point.

It's not so much about paying more, it's the fact rents in area's including this one is rising faster then people on modest income and low income can afford which leads to housing insecurity.

If someone on a fixed term with move out clause has their rent go up 25% well unless their income goes up 25% or they can cut 25% back somewhere else, kind of hard to pay the increase and with a nearly 0% occupancy for rentals there is for the most nowhere to move to so you can keep housing.

Last edited by scrubbedexpat091; Aug 28th 2015 at 9:13 am.
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Old Aug 29th 2015, 3:32 pm
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Default Re: What can I afford/What will my costs be?

Where in Alberta are you going? You could look on rentfaster, homerent etc. We rented through power properties.

I suspect in Alberta that rents will come down between now and Nov/Dec; especially Calgary. For sale Houses are empty and I suspect some will move into the rental market
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Old Aug 29th 2015, 4:42 pm
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Default Re: What can I afford/What will my costs be?

Originally Posted by Jsmth321 View Post
I am talking about my location and all of the above is true.

On average houses sold in this town according to the real estate agents my wife works with, houses in this town are selling at or slight above asking with multiple offers, so yes it is true.

Yes, those on leases with a move out clause are not protected by the rent controls in BC, it only applies to those on month to month tenancy agreements, the article below from the Vancouver Sun last week shows this as did asking the tenancy board when I called and asked them.

The average rent in this town is increasing at lease renewal and when new tenant moves in on average 20% to 25%.

"In B.C., landlords who use month-to-month rental agreements must abide by annual caps on rent increases — this year, it was 2.5 per cent. Landlords who uses fixed-term leases that include “move out” clauses, on the other hand, can raise rents by whatever amount they choose once the term is up."

http://www.vancouversun.com/business...576/story.html

Again as I stated before, those on fixed term lease with a move out clause have no rent protections, only those on month to month agreements do.

In this town a renter has no space to negotiate, there are more people needing housing then housing, landlords have no reason to rent for less and currently most are not.

"a lease that says you must move out at the end of
the lease. You can only stay if you sign a new agreement
with the landlord. Be careful! The new agreement does
not have to contain the same terms because it is, in effect, a
new tenancy. Also, rent can start at any amount because
it is a new agreement"

http://tenants.bc.ca/wp-content/uplo...de-English.pdf

One of many local stories about the rental issues here.

Rents spiking in Squamish


Apartments going for 800 a month 18 months ago are now going for 1,200+

People are renting rooms out for 700-900 per month, last night someone was offering a room for 1,000 a month, not an apartment but a room.
You shouldn't believe everything you read or hear. Especially don't generalise based on hyperbole.
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Old Aug 29th 2015, 9:33 pm
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Default Re: What can I afford/What will my costs be?

Originally Posted by el_richo View Post
You shouldn't believe everything you read or hear. Especially don't generalise based on hyperbole.
So when the tenancy board tells me that this is true, I shouldn't believe it?

You claimed it was not true, I proved otherwise that it is true, and confirmed it myself with the tenancy board, you know the people who enforce tenancy rules in BC.


I also live in Squamish, and rent and in an effort to reduce our costs have attempted to find alternative rentals and have not found anything, why? Because rents have skyrocketed and there is nearly nothing available.

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Old Aug 29th 2015, 9:54 pm
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Default Re: What can I afford/What will my costs be?

Originally Posted by el_richo View Post
You shouldn't believe everything you read or hear. Especially don't generalise based on hyperbole.
That is however correct. Month to month are treated differently to fixed term contract. The only exception would be if the contract ended and the tenant were allowed to stay on without negotiating a new contract or there is a rollover clause.
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Old Aug 31st 2015, 4:41 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by Jsmth321 View Post
So when the tenancy board tells me that this is true, I shouldn't believe it?

You claimed it was not true, I proved otherwise that it is true, and confirmed it myself with the tenancy board, you know the people who enforce tenancy rules in BC.


I also live in Squamish, and rent and in an effort to reduce our costs have attempted to find alternative rentals and have not found anything, why? Because rents have skyrocketed and there is nearly nothing available.
My brother in law rents in Squamish and said it hadn't happened to him. Now i'm confused
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Old Aug 31st 2015, 5:48 am
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Default Re: What can I afford/What will my costs be?

Originally Posted by el_richo View Post
My brother in law rents in Squamish and said it hadn't happened to him. Now i'm confused
The standard tenancy form from Forms - Province of British Columbia allows 1 of 2 options at the end of the fixed term.

Option 1: the tenancy continues month-to-month without the need for a new agreement
Option 2: the tenancy ends at the end of the term, in which case both parties must initial that section of the agreement.

If someone agrees to option 2 then surely they understand what they are signing?

This is the lease I was presented with and I suspect it's what the majority of tenants in BC have signed.
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Old Aug 31st 2015, 3:06 pm
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Default Re: What can I afford/What will my costs be?

Originally Posted by el_richo View Post
My brother in law rents in Squamish and said it hadn't happened to him. Now i'm confused
Every tenancy is different, maybe he is on a month to month or a fixed term that reverts to a month to month.

Our's as with many others is a fixed term with a move out clause, it does not revert to a month to month, at the end we either move out, or accept the new conditions for a new fixed term.
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Old Aug 31st 2015, 3:23 pm
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Default Re: What can I afford/What will my costs be?

Originally Posted by bc2015 View Post
The standard tenancy form from Forms - Province of British Columbia allows 1 of 2 options at the end of the fixed term.

Option 1: the tenancy continues month-to-month without the need for a new agreement
Option 2: the tenancy ends at the end of the term, in which case both parties must initial that section of the agreement.

If someone agrees to option 2 then surely they understand what they are signing?

This is the lease I was presented with and I suspect it's what the majority of tenants in BC have signed.
Yes people do know and if in a place like Squamish with limited housing options for renters, you have no choice if the landlord requires the move out the clause, and more and more are as they know it's a way around being restricted by the rent control legislation.


I'd rather not sign a lease at all and be month to month, but when the only place you had in your price range requires a lease with move out clause, not much choice but to sign it or be homeless.

Not like there are options in this town, until they build condos/apartments again there will be a shortage for now, single family homes owner occupied do little for the rental market, and due to relatively low demand for owned condos developers are not building them in today's market.
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Old Aug 31st 2015, 7:11 pm
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Default Re: What can I afford/What will my costs be?

Originally Posted by Jsmth321 View Post
you have no choice if the landlord requires the move out the clause,
You always have a choice.
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