FSW WORLDWIDE

[dxdroid]

foreigners with no intent of settling in canada should not be allowed to buy land.

Or property for rental maybe apart of holiday homes

 

[Windsor37]

The problem that I think we have are people who are ruling the country and making new laws.

Isn't this the root cause of every political issue in the world? haha. Anyway, I think the story goes on why they allow foreign home ownership is because most of the buyers at that time were Americans who wants a second holiday home up in Canada. They didn't think the Chinese are going to scoop up most of them, although based on what I'm reading the current home price surges are due to the extremely low interest rates which were put as a counterweight to the economic burden brought by COVID-19. There are on going speculation that if the Bank of Canada suddenly increase rates now to say 2-5%, we can see a major correction basically from buyers who needs to re-new their mortgage but wouldn't be able to afford the new rate.

 

[dxdroid]

Isn't this the root cause of every political issue in the world? haha. Anyway, I think the story goes on why they allow foreign home ownership is because most of the buyers at that time were Americans who wants a second holiday home up in Canada. They didn't think the Chinese are going to scoop up most of them, although based on what I'm reading the current home price surges are due to the extremely low interest rates which were put as a counterweight to the economic burden brought by COVID-19. There are on going speculation that if the Bank of Canada suddenly increase rates now to say 2-5%, we can see a major correction basically from buyers who needs to re-new their mortgage but wouldn't be able to afford the new rate.

I would add this :

"Think about it. If they would not have a profit or business in this they would block it and make people more happy within the country. There is a saying in Poland - "If you do not know what the problem is about, it is about the money""

 

[Windsor37]

I think I said that in a wrong way. If landlord is saying that he will renovate the property, family member is moving in or they are selling a property then they can terminate the contract if:
1)If landlord is saying that he will renovate the property
You need to agree at the new rent cost. You are first in queue to still live in the place if not then you have to go

2) family member is moving in or they are selling a property then they can terminate
you have X amount of termination notice depending how long you were living at this property.

There is a lot loop holes that they can use to get rid of you ASAP.

We also have an agency which is called (Tenancy Bord Agency) or something like that. They are looking after tenants and they are actually good but some times their hand are also tighten.

Exactly, but normally you have to wait until the contract is up. I recall one of my officemates where the landlord had to wait for the expiry of the contract before doing the renovation, and charging them a new rate afterwards. It seems kind of unfair, if for example you have a 12-month contract, move all your stuff in, then after 2 months the landlord is going to say, I have to do some renovating for 2 weeks you have to get out. Now you're scrambling to find a new place where you can put all your stuff in.

 

[Marco Mendicino]

Canadian government to immigrants - Take a 30 year mortgage to live in a average sized home in an industrial city for $1mn dollars. Then rent half your home to indian Lambton college students. Welcome to Canadian dream

 

[dxdroid]

Exactly, but normally you have to wait until the contract is up. I recall one of my officemates where the landlord had to wait for the expiry of the contract before doing the renovation, and charging them a new rate afterwards. It seems kind of unfair, if for example you have a 12-month contract, move all your stuff in, then after 2 months the landlord is going to say, I have to do some renovating for 2 weeks you have to get out. Now you're scrambling to find a new place where you can put all your stuff in.

These things were happening unless they have made some changes recently. Also I have seen some landlords saying that they will do renovation where they were only doing repainting hahaha - some of them were willing to pay the fine at that time and then rented out at higher price anyway. So the law is broken still

I am out of rental market for 2 years so things might have change but I did not hear about them. Usually it is loud in the radio about it or on the news sites.

 

[Deleted member 1050918]

foreigners with no intent of settling in canada should not be allowed to buy land.

Girls with no intent of sleeping with me should not be allowed to buy land.

 

[seadrag0n]

Exactly, but normally you have to wait until the contract is up. I recall one of my officemates where the landlord had to wait for the expiry of the contract before doing the renovation, and charging them a new rate afterwards. It seems kind of unfair, if for example you have a 12-month contract, move all your stuff in, then after 2 months the landlord is going to say, I have to do some renovating for 2 weeks you have to get out. Now you're scrambling to find a new place where you can put all your stuff in.

I read that renting in Canada is more tightly regulated and it is difficult for landlords to pull shit like this.

 

[dxdroid]

I read that renting in Canada is more tightly regulated and it is difficult for landlords to pull shit like this.

At least this is good. Few years ago I was renting out apartment. I was paying about 650EUR at the begining. Then after 3 years got a raise to 800 EUR. Then every year it was like 2%. My friend rented out exactly same apartment for 1250EUR a month just before I was moving out. Back in 2013/14 you could buy this apartment for about 80k EUR, now they are selling for 160k EUR and rent is closer to 1500EUR per month

 

[slavicgirl]

At least this is good. Few years ago I was renting out apartment. I was paying about 650EUR at the begining. Then after 3 years got a raise to 800 EUR. Then every year it was like 2%. My friend rented out exactly same apartment for 1250EUR a month just before I was moving out. Back in 2013/14 you could buy this apartment for about 80k EUR, now they are selling for 160k EUR and rent is closer to 1500EUR per month

160K EUR for an apartment vs 1500 EUR rent. When I hear these numbers is when I realize that it is f***ing expensive to buy a flat here where I live considering the low wages..Nobody would ever be able to pay 1500 EUR as rent because most salaries aren't that high but at the same time a mid-size apartment with relatively good location (45-55 squaremeter) easily cost 160K EUR (same flat for rent bit less than 500 EUR as rent is tied to wages!!)

 

[PRANIT01]

Look all of this is misrepresentation and whenever it gets caught, consequences are SEVERE including statelessness. The form will EXPLICITLY ask, "are you married?" and if you say "no" and you were married, then you are in trouble. If you married in between and did not do notify immigration, then again you are in trouble. Will you get caught? I don't know. No one knows. I think more pertinent question is : "Will you EVER get caught?" : Answer is hard to say.

There could be multiple ways in which you can land into trouble. May be you hid everything really well but a relative got envy with you and he knew your real date of marriage and snitched on you. Bang there goes your life in Canada. May be someone posted something on social media and it was found in some other investigation and that initiated an investigation on you. Bang! Again you are in trouble.

Best is to not misrepresent or lie.

I am not a lawyer but knows someone who did this in Spain.
He asked can he do the ritual without registering. He can
Marriage means legally bounded by 2 parties.just because you do a ritual with someone you are not married in the eyes of law.Similarly just because you live with someone that is not marriage.you can do a 100 rituals but still not married. You have to register it.
But the only issue with that is you have to separately register it in the register office. That will take 15 to 30 days to complete the process
But in India society won't allow you to do anything.

 

[dxdroid]

160K EUR for an apartment vs 1500 EUR rent. When I hear these numbers is when I realize that it is f***ing expensive to buy a flat here where I live considering the low wages..Nobody would ever be able to pay 1500 EUR as rent because most salaries aren't that high but at the same time a mid-size apartment with relatively good location (45-55 squaremeter) easily cost 160K EUR (same flat for rent less than 500 EUR as rent is tied to wages!!)

Housing market is fun to be in when there is a boom and scary to be in when there is a collapse. Looking at what is happening in Canada, things will not change that fast in housing market

 

[dxdroid]

160K EUR for an apartment vs 1500 EUR rent. When I hear these numbers is when I realize that it is f***ing expensive to buy a flat here where I live considering the low wages..Nobody would ever be able to pay 1500 EUR as rent because most salaries aren't that high but at the same time a mid-size apartment with relatively good location (45-55 squaremeter) easily cost 160K EUR (same flat for rent bit less than 500 EUR as rent is tied to wages!!)

Usually when rent is low, property prices are also lower. It is weird to see that.

 

[slavicgirl]

Usually when rent is low, property prices are also lower. It is weird to see that.

two words: Eastern Europe..we are screwed over here

 

[dxdroid]

two words: Eastern Europe..we are screwed over here

Not only Eastern Europe, the whole EU, no matter it if it is western, central or eastern part.