Plan A Real Estate would like to clarify that the events at 1168 Pendrell Street were not driven by ‘greed’ as Mr Chandra Herbert has claimed.
Everyone is entitled to their opinion – and of course we must respect this – but in this case these assumptions are, simply put, ill-founded. What some fail to appreciate is the negative effect below average rents has on West End living. Many West End buildings require serious renovation and upgrades which can cost millions of dollars. We fully understand the initial shock when facing the prospect of a 20% rent increase. However, such an increase isn’t that shocking when some of the tenants at 1168 Pendrell St are currently paying $500 p/m below the market average. When put into perspective, you can see that this isn’t simply about greed, rather a wish to receive what Plan A believes to be a fair price.
So what is the consequence of below average rents? The answer is simple: dilapidated housing and an overall lower standard of living for West End residents. Plan A can not invest in its property and the well-being of its tenants when rental income barely covers the operational cost of a building. Plan A empathizes with the tenants of 1168 Pendrell and fully understands their frustration and concern. We don’t want to create a negative living experience for any of our tenants. We simply want to ensure that we receive the required financial compensation to provide the standard of living Vancouver residents deserve.
In an attempt to alleviate concern, Plan A has been working tirelessly with COV to reach an agreement that aids tenants during this period of uncertainty. After months of hard work, we are happy to announce the launch of the Tenant Relocation Plan. This solution has been devised to compensate and aid tenants should they decide to vacate their apartment.
Key features include:
– Up to 3 months rent compensation
– Assistance finding alternative accommodation within budget
Plan A is committed to providing high quality housing for the residents of Vancouver and will always strive to achieve a harmonious tenant-landlord relationship. As long as tenants fulfill their contractual obligations, we are happy to let them live their lives in peace.