Friday, March 20, 2009

Conn Lodge Sale Concerns Tenants

2010 Barclay is currently up for sale at Macdonald Commercial Real Estate, where the $8,500,000 listing entices potential buyers with the phrase "Significant upside on rents" - leaving some tenants wary about their future in the building under a new owner in the current West End rental climate.


The online property listing also makes public a detailed breakdown of square footage, rent and parking fees for each suite as of August 2008 (click to enlarge):


What do you think? Comments are welcome below.

More info:
WestEnder.com: The Fight for Apartment Life
Renters at Risk: Tenants Evicted by the Hundreds
BC Residential Tenancy Branch: Rent Increase Information
Residential Tenancy Act

Sources:
Goodman Report - Property Listing (cached page)
Goodman Report - CONN LODGE INFO PACKAGE (PDF)
(archived PDF)

3 comments:

Anonymous said...

looks like the rents only go way up when someone moves out otherwise its just a few percent a year I think that's all they can do.

Anonymous said...

My analysis of the rent roll shows there are 18 suites vulnerable to having their rents increased considerably if the new owner is as greedy as those we've read about in the newspaper:

103, 106, 107, 110;
201, 202, 203, 205, 206, 207;
301, 302, 303, 304, 306, 309;
405, 406.

Anonymous said...

In all fairness I would like to say the current owners/management have been very good to us. It's too bad they are selling. Hopefully teh new owners will be just as good!

Thank you Touchstone and Razgul Holdings,

"K."