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Wednesday, May 29, 2013

Basement Versailles

Posted on Wed, May 29, 2013 at 3:07 PM

$ 1400.00 for a 'beautiful' basement apartment? Seriously? It's dark, moldy and cold, and has awkward lay out. I don't care if you put granite countertops in the cramped kitchenette--it's NOT an 'executive' residence--it's a freakin basement! Halifax Landlords need to check their greed with a wakeup call. Otherwise known as rent control. Just because you went into debt for an income property does not mean you are entitled to profit right away. If renters could afford to pay for the mortgage, maintenance costs, property tax, and a nice monthly profit for you on top of it all--they would buy their own house. Landlords --you will make a profit off of your investment over time, once you have reinvested rental fees and your own hard earned cash to pay off the mortgage and the value for the property has gone up. If you can’t afford to buy the property outright it's a long term investment that will eventually pay back. Stop trying to get instant pay back from renters—these Toronto rates don’t line up with Nova Scotian salaries and wages. —Everyone's A Hustler

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