Hong Kong Social Entrepreneur Pitches Rental Affordability Solution for Vancouver


credit: herkimerfoods

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


Federal Programs Related to - Social Entrepreneurship

Non-NPC category for MTurk implementation

    Federal Programs Related to - Community Development, General/Other

    Programs that focus broadly on strengthening, unifying and building the economic, cultural, educational and social services of a community or neighborhood and improving the quality of life for all. Community Building; Community Capacity Building; Community Development and Improvement; Community Development Block Grants; Healthy Communities Community Economic Development Programs that provide technical assistance and funds to help communities retain and recycle income within the community by investing in the development of local institutions and businesses. Business Growth; Business Loans; Economic Growth; Economic Transformation; Real Estate Organizations; Socioeconomic Development; Technology Transfer; Transfer of Technology; Urban Enterprise Zones


    Children News from...


    Nike
    Vermont Community Foundation
    Bloomberg Philanthropies
    Gates Foundation


    Social Entrepreneurship
    Spotlight



    Building a Million Dollar Company Where Everyone Counts


    Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.




    Jobs in the Social Sector

      Foundation Related Jobs
      Executive Director Jobs
      Social Services Jobs
      Education Jobs
      Social Work Jobs