Re: “Open books, landlords, show us the numbers,” letter, March 27.

If you do simple math, you would discover that the landlord is actually subsidizing tenants, not making money.

Let’s presume you could build a one-bedroom suite for $375,000 per unit, land costs in. Very conservative price.

Therefore at 5.5% prime interest today with a 20-year amortization, the monthly payment principle and interest, but not including property taxes, or other fixed costs, would be $2,385.

So $1,800 for a one-bedroom suite is a subsidy to the tenant. If the landlords were paying just simple interest, it would be about $1,800 a month.

Which coincidentally is the price point that the B.C. government is renting out their one-bedroom subsidized suites for.

I don’t think most landlords are being greedy. We need to stop vilifying landlords and thank them for their financial contribution to society. They are investing in our housing stock.

Doug Coulson

Saanich

Re: “Open books, landlords, show us ­numbers,” letter, March 27.

Rental property ownership is an investment, the same as any other investment, and in multiple cases, a business like any other business.

As such, and in our free market economy, property and business owners are entitled to make a reasonable rate of return on their investment.

Indeed, if they were unable to achieve that, it would discourage investment in property, thereby decreasing availability of rental homes.

I have analyzed the numbers and have come to the conclusion that, under the present restrictions here in British Columbia, rental housing is not where I would choose to invest my savings.

As far as landlords opening their books to general scrutiny, this would be an unrealistic expectation. No business owner will, or is obliged to reveal their itemized costs of doing business.

I write this as a business owner and one who is a tenant in a rent-controlled apartment.

Peter Howell

Victoria

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