Renoviction at 435 Nelson St.? Owners say it's more like a reno gone wrong
CBC
Two London politicians say what's happening at 435 Nelson St. is a cut-and-dry case of renoviction, another instance of a landlord trying to oust long-term London tenants by issuing N13 notices so they can be replaced with tenants able to pay more.
However the owners of the building say it's more a case of a renovation gone wrong — one where unexpected costs are now forcing them to demolish the building and sell it to someone else to develop.
Either way, the 11 remaining tenants will have a fight on their hands to stay in their homes and avoid having to find a new apartment in London's tight rental market.
In March of last year, a registered Ontario corporation called 435 Nelson Inc. bought the run-down building for $4.1 million.
The directors of that corporation are the Guelph-based husband-and-wife team, Marty Gordon and Amanda Bouck.
The couple has a YouTube channel called House Hustlers where they chronicle their successes — and challenges — of buying and renovating single-family homes with the goal of turning those properties into rentals.
Gordon is a carpenter by trade an often appears in the videos doing his own renovation work.
The couple also operate Legend Real Estate Trust, which solicit investment options starting at $10,000 and has a fund-raising goal of $3 million. Gordon and Bouck said the real estate trust business does not include 435 Nelson St.
Built in the late 1960s, 435 Nelson St. is a two-storey walkup apartment building with 23 one-bedroom units. Shortly after the purchase, tenants like Ken Thomson began to receive offers of payment to vacate their apartments permanently. Often called cash-for-keys, such offers are legal in Ontario and are often used by landlords to entice long-term tenants to leave.
Thomson, however, said his $1,318 rent for the one-bedroom he shares with a roommate would be impossible to match in today's rental market, even with the owner's offer of $7,500 to leave.
"I'm looking at around $2,000 for a one-bedroom," said Thomson, who's lived there for two years. "She's trying to boot us out so that she can up her rent. I'm comfortable here, I don't want to leave."
The situation at 435 Nelson St. has caught the attention of London politicians.
London North Centre MPP Terence Kernaghan raised the issue during Question Period at Queen's Park on May 29.
He called the building owner a "terrible landlord" who is pushing tenants out to get higher rents.
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