A solution needs to be found because the problem is extremely prevalent. A good example is the building facing the intersection on 111th Ave and Kingsway Ave. that building was built and never had its retail bays filled, it also never had all its residential units filled. Its been standing almost empty for over 10 years and problems are beginning to show up due to the lack of maintenance performed. If those retail bays were filled, even at a rate that might be considered a loss to the owner, the businesses would care about the building and enough money would be collected to maintain it. That in turn would encourage someone to purchase a condo above. That preserves the buildings value in the long run and protects the owner's investment increasing the odds of a positive cash flow in the future.
Perhaps transferring the loan to another company that removes the condition of high lease rates is the way to go. In any case, all parties need to get involved in finding ways to minimize negative cash flow instead of completely stopping it.
That would be a good item to have on someone's platform in this election.
