General Urban Kitchener Updates and Rumours

[ijmorlan]

I'd love to see reporting on why property owners don't reduce their rental prices in the face of high vacancy rates. The current state of affairs is so confusing and destructive.

I believe this is widely understood to have happened at Waterloo Town Square over the last many years. I don’t understand it, especially in commercial rental where there is no rent control — if the landlord can rent the space for double the rent to somebody else at the end of a lease, then they may do so. Also, non-payment = gone.

In run-down buildings I understand it more — the landlord may not want to pay to fix up the building, especially if the building is in a state where significant renovations are required for commercial occupancy.