General Urban Kitchener Updates and Rumours

[plam]

I was reading about Los Angeles' rental registry, where every rental must be registered with the city (including long and short-term rentals). When tenants move out, that is recorded, along with rent that was paid, and how much the new tenant is paying. I don't know much more than that, but it seems like a valuable tool in better understanding what's happening in your city with housing.

Owners in Quebec are supposed to declare the previous rent on a new rental agreement, which is somewhat similar. I don't know if the government gets visibility on that though.

Someone said that the vast majority of DTK (Duke Tower Kitchener!) units were sold in Toronto, and I expect that most of those people are not planning to move here. And Kaufman is apparently something like 90% rentals.

I had a grad student who bought a place in Kaufman and then rented it out after graduating.

Personally know someone who had a hard time in the last 2 months securing an apartment (2bdrm with a roommate situation) and somewhat on a budget, by K-W's prices today. Still paying over $1700. Had to get something on fringe downtown, possibly not considered downtown and not a highrise style. So I would say the demand remains strong, and at worse there will be a marginal downward pressure on rent prices (more likely plateau)...or not if people are coming with GTA prices in mind.

When we were looking for a tenant in 2019 it seemed to be harder to find one for our 3br townhouse for the price we wanted than it was in 2015. I thought I had done my research on market price. I don't know what that means.

condition free, 100k over asking blindly...

gah