Hello all,

I live in Victoria, British Columbia and my landlord has just offered me to leave my apartment by the end of the year for $20,000. He is also offering to pay the movers.

I pay about 1100$ a month to live in a nice neighborhood and my building is on the waterfront. The amount I am paying is below the market price. I hardly see how accepting it could be a benefit. I think my landlords are losing between $11,000 and $16,000 a year. They have done a lot of renovations in the building and I know they have raised the prices a lot. I don't know exactly how much, but the price of a two-bedroom in Victoria is between $2200 and $2500 a month now. Maybe more?

If I accept the amount, I could never find a rental that cheap and of good quality. After 1-2 years, the $20,000 will be gone and I will lose money. I might get a small 5% downpayment for a really cheap condo, but my expenses would increase drastically.

I'm single and make $57,500 a year, have $7,000 in debt, and no car. I have contacted a lawyer to make a counter offer, but I don't know how much would be good or even if it's realistic to ask for more. If I'm able to get more money, I was thinking of maybe leaving my apartment, moving back in with my parents for 6 months-1 year and saving money for a 20% downpayment. Maybe buy something in Montreal or Quebec city or try for something smaller in Victoria. I can work remotely.

If anyone has any idea what price I should ask or…also I should maybe just stay in my apartment.

Edit: The place I live is a huge buiding. The company has several properties throughout British Columbia. There are a lot of people in my building that pay below market as they have lived there for 5-20 years.

Thank you! 🙂