$2,000 for 200 square feet: TikTok of Vancouver rental raises hackles | 24CA News
Would you pay $2,000 to stay in a 200-square-foot unit in Vancouver’s Downtown Eastside?
That’s the supply that was briefly marketed in a slick TikTok video for a unit within the Lotus Hotel at Abbott and Pender streets, and swiftly drew on-line backlash.
The video, first reported by 24CA News, takes viewers on a tour by the tiny single-room lodging (SRA) suite, which features a fold-down mattress, mini fridge and small toilet. The video has since been faraway from the social media platform. Global News tried to contact its creator however didn’t get a response.
The suite is considered one of a number of within the constructing being marketed by DPM Property Management for upwards of $1,700 per thirty days.
Sean Esser has lived in an analogous unit within the constructing for about two years and advised Global News he pays $1,300 per thirty days.
He referred to as the lease a “good price” compared to different lease he’s seen marketed within the metropolis, however admitted it was greater than he wished to pay.
“That’s way too much for 200 square feet. I can’t even believe how much I pay and I know it’s quite an expensive city,” he stated. “It’s the smallest place I’ve ever lived in and its the most I’ve ever paid.”
Earlier this week on-line rental unit web site Rentals.ca reported the common month-to-month value for a one-bedroom condo within the metropolis had surpassed $3,000 per thirty days.
The Lotus constructing was bought two years in the past by Toronto funding agency Forum Asset Management, which advised Global News greater than 70 per cent of the models had already been renovated.
Historic tenants of the SRA within the older models say they’re being supplied buyouts.
One 22-year tenant, who spoke on the situation of anonymity, stated he deliberate to carry out regardless of being supplied money if he gave up his unit. He stated he at present pays $560 per thirty days.
“Not a specific amount, but they want to talk about it. I responded last time by email to tell them I am not interested,” he stated. “I cannot find a place. They don’t offer me a place to move, they offer me money. What can I do with the money?”
The tenant stated some individuals who had one other rental choice had moved, however those that remained deliberate to remain.
In an announcement, Forum stated 5 long-term tenants have accepted compensation to maneuver out — however that it is just making offers with residents who may show that they had someplace else to go.
“We will continue to work with tenants open to a mutual arrangement to vacate in order to modernize units and the building, but only if they confirm they have secured alternative housing,” the corporate stated.
Downtown Eastside residents Global News spoke with expressed anger on the sky-high rents the corporate was promoting in what is among the nation’s poorest neighbourhoods.
“People just can’t afford that down here, especially being so small. It’s just a terrible thing, it should be banned by the city. They’re not doing their due diligence,” stated John Flauch, who has lived within the neighbourhood for 25 years.
“They’re just robbing these people. These old buildings, most of them in the neighbourhood of that size are like $400 to $600.”
Vancouver City Coun. Pete Fry stated town is restricted in what it may do. SRA and single-room occupancy (SRO) models themselves might be protected, however the metropolis can’t put a cap on rents, he stated.
“It may be unethical, it may be unscrupulous, but it’s certainly not illegal,” he advised Global News. “What this means for us as a city, though, unfortunately, is that a lot of the units that were traditionally available to folks on disability or welfare aren’t available anymore, and we’re seeing those folks end up on the street.”
The City of Vancouver sought to restrict lease will increase in SRA buildings by a emptiness management bylaw, however noticed the regulation struck down by the B.C. Supreme Court in 2022. Fry stated town is interesting the choice.
In the meantime, Fry stated the scenario on the Lotus could effectively symbolize the way forward for housing within the metropolis.
“Well, I guess we’ll see. But yeah, I suspect it is,” he stated. “We are seeing the market is driving demand for small micro units close to downtown.”
© 2023 Global News, a division of Corus Entertainment Inc.
