Hong Kong Social Entrepreneur Pitches Rental Affordability Solution for Vancouver

credit: Flickr

Light Be, a Hong Kong for-profit company that aims to achieve social outcomes, connects needy applicants with discount rentals, but terms of arrangement clash with B.C. law.

Social entrepreneur Ricky Yu is considering expanding to B.C.'s Lower Mainland, and has already reached out to some individual property owners in B.C. According to Yu, he's interested in introducing his program to other big cities especially Vancouver, because there's a high proportion of Chinese that makes me feel easier.

Yu is a multinational company executive turned CEO of Light Be. The social enterprise makes its money by taking a variable percentage of the rent paid to landlords, and is sponsored by two charitable foundations affiliated with prominent real estate developers in Hong Kong.

Yu points out that some Canadians living in B.C. are already part of the network of landlords who lease their vacant Hong Kong apartments with Light Be. Light Be requires tenants to move out after three years.

B.C. Ministry of Municipal Affairs and Housing in a statement to CBC News said that landlords could not include a maximum length for tenure as fixed-term leases are no longer allowed in B.C.

Read the Entire Article

A customized collection of grant news from foundations and the federal government from around the Web.

How's Your Community Doing?
Check Out it's
Community Vital Signs

Philanthropic Follies

The Wall Street Journal profiles the new book \"The Good Rich and What They Cost Us.\" According to the reviewer, the book, which covers over two centuries of American philanthropy, posits that...more

Financial Aid Information Session Hosted by Kalamazoo Community Foundation
Foundation: Kalamazoo Community Foundation

The Wall Street Journal profiles the new book \"The Good Rich and What They Cost Us.\" According to the reviewer, the book, which covers over two centuries of American philanthropy, posits that...more

As Asian-American Population Grows So Does Philanthropy in the Communities
Foundation: American India Foundation, Korean American Community Foundation

The Chronicle of Philanthropy highlights a New York Times article focusing on the growth of Asian American philanthropy. Asian-Americans who have built fortunes in finance and technology are...more

Mary Kay Foundation Awards Grants

Waypoint Madge Phillips Center Shelter has recently received a $20,000 grant from The Mary Kay Foundation in observation of National Domestic Violence Awareness Month in October. According to Anne...more

Paulding Education Foundation Awards $7,500

Paulding Education Foundation has recently awarded $7,500 to Paulding schools as a result of the foundation\'s School Grant Program. Recipients include South Paulding High School, Austin Middle...more

Make-A-Wish Foundation Crapo Park Walk Fundraiser

The Make-A-Wish Foundation will be holding its big fall fundraiser, a walk around Crapo Park in Burlington to help grant wishes of children with life-threatening illnesses, raising on average $8,600...more