Re. Bruce Jones letter In it for the money (Castanet, Nov. 28)
I’ve housed many upstanding students over the years in short-term rentals.
They want to rent for the winter months with their “friends group,” then they typically return to their hometowns where they live with their parents for the summer. They all go a different direction April 31, then usually come back in the fall.
If they are good tenants, we are happy to have them come back and stay at the same rental rate. They rarely stay in Kelowna for the summer, unless they are interning or going to summer school. If they do want to stay in Kelowna for the summer though (and I’ve only had one who asked), they will rent on Academy Way, which has an over-abundance of cheap summer sublets which only allow one-year leases for students, so they are try to sublet them in the summer at competitive rates.
I can guarantee you, nobody is being pushed out, as stated (in the letter). Those students want to end their contracts April 31 and are always excited to come back in the fall. For them, they live in a beautiful, furnished and safe environment and I’ve had them come back as many as four years in a row.
As for the comments about landlords being “in it for the money and lining their pockets,”like most businesses, these properties are major investments for most of us and over a period of years we hope to earn a profit from our investment.
In recent years, we have been faced with increasing operating costs, mortgage rate increases and unforeseen major property upgrades, as well as major tourism impacts due to the 2020 and 2021 pandemic and 2023 fires.
It may be some time before anyone has any lining in their pockets.