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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.
Selected Grant News Headlines
A customized collection of grant news from foundations and the federal government from around the Web.
"I was working in corporate America for one of the world's largest retail companies, and it was challenging and wonderful in many ways. But I was finding my truest fulfillment on Saturday...more
Foundation: Whitefish Community Foundation
"Through our collective efforts, we're not just providing financial support, but we're investing in Montana's vitality and resilience." That from Mike Smith, president of Glacier Bank, which...more
If you're looking for a way to boost your community's sense of place, researchers at Gustavson University in Sweden have just the thing. They've developed a set of five principles that community...more
Seri Roth is an entrepreneur "with a passion for empowering communities and fostering positive change," according to her website. She's just launched Boston Queers, an online directory and...more
The new president of the International Storytelling Center in Jonesborough, Tenn., says he'll bring a "keen appreciation for the arts and Appalachian history" to the job, the Knoxville News Sentinel...more
Google is teaming up with Rice University to create a Houston-area startup accelerator, the Houston Chronicle reports. The accelerator will focus on the "Internet of Things," with a particular...more
"We want homes that last longer than eight to 10 years," says Avra van der Zee, COO of Hawaii-based nonprofit Elemental Excelerator, which has teamed up with New Orleans' Finance New Orleans to...more
When Jude Chinedu heard Chisimdi Okoh talk about how he wanted to change the world, he thought it would be a good idea to do something about it. And so he founded the Power of One Initiative, a...more
Foundation: Boston Foundation, Cambridge Community Foundation
Geeta Pradhan is the president of the Cambridge Community Foundation in Massachusetts, and in 2024 she'll become the state's outstanding woman of the year. That's thanks to her work to fight...more
"We are seeing positive, tangible outcomes for grant recipients working to boost their capacity and impact for programs and services that are vital to those in need." Those are the words of the...more
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Social Entrepreneurship
Spotlight
Why People Buy from Social Enterprises?
The Guardian has compiled a list of responses to its latest open thread, and has announced the winner of the social enterprise gift hamper packed with presents.
