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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.
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A customized collection of grant news from foundations and the federal government from around the Web.
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The Rotary Club of Hagerstown has handed out $62,800 in grants to 25 charities in the Washington County area, reports the Herald-Mail. The grants were awarded at a June 19 lunch held by the club,...more
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When it comes to Africa's richest, it's a safe bet that Nigeria's Prince Arthur Eze is at the top of the list. The Ozoigbondu of Igboland, as he's known, is the founder and CEO of Atlas Oranto...more
There's painting, there's drawing, and then there's this story out of Jamshedpur, India. Students from 23 schools took part in " ARTWAVE 2024," an inter-school art competition held in July, the...more
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Spotlight
Partnerships in Social Enterprises Can Increase Social Impact
Chief executive of HCT, Dai Powell, shares the experiences and practical lessons he learned along the way when teaming up with Ealing Community Transport to deliver site transport during the Olympic Park construction.
