this post was submitted on 23 Dec 2025
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I’m also noticing the owners said they are bleeding cash. But they bought 7 units (in 4 buildings) for 295,000. Assuming 0 down and 5% apr that just north of 1700 a month. So this one renter paying 727 is nearly half of their mtg.
Even if we say expenses and upkeep adds 50% to their monthly outlay, their costs are covered at 4 units rented…
I’m not exactly anti landlord but this screams rent seeking crocodile tears.
I wasn't aware anywhere in Canada allowed zero down for residential housing. CMHC usually requites at least 5%, and that's for personal housing only. Which means the numbers would work out to even lower monthly payments.
They don’t really allow 0 down. But It is possible. I went with 0 down just to give the landlord some grace because realistically I was already sure they were misleading on the costs.
"we're bleeding money" so lets get my mother-in-law who is already in a long term care facility to move in and not pay a dime which will end up costing us MORE in the long run as she'll need to be cared for.
But you own 7 other units, why not just sell one or two of those if you're "bleeding money".
I just wish people would be honest every now and again and simply say "We make a lot of money but we want to make more."
If she's "bleeding money" she can sell one of the seven units she owns.