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Welcome to the Toronto Landlords Association website!

October 21st, 2014 · Credit Checks, Landlord and Tenant Board (LTB), Latest News, Toronto landlord

Toronto landlords association

Toronto Landlords Working Together For Success!

Toronto landlords welcome to our website. We are a group of landlords ourselves and want to provide news, tips and important and helpful links to help other who own rental properties in our city.

We will focus on issues that are important to the success of our rental businesses. This means we will write on important news, tenant screening techniques to find good tenants and try to provide solutions for landlord issues.

We will also spend time focusing on the Landlord and Tenant Board (LTB) and the Ontario Residential Tenancies Act (RTA)

Whether you are are a new condo investor, own a duplex, or a larger building, or rent out your basement we home the Toronto landlords site is informative and helps you succeed as a residential landlord in Toronto.

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Olivia Chow Wants to Punish Good Toronto Landlords and Condo Investors!

October 23rd, 2014 · Condo landlords, Landlord Rights, Latest News

 Olivia Chow Toronto landlords

Landlords in Toronto know an election is coming and are looking at the platforms of the mains candidates closely and carefully.

Accord to the polls the three leading candidates to be the new Mayor of Toronto are John Tory, Doug Ford and Olivia Chow. So far the campaigns have focussed on transit plans and, unfortunately, lots of personal attacks against each other.

Toronto Landlord Issues

The focus on transit and personal attacks changed this week when mayoral candidate Olivia Chow started talking about landlord and tenant issues in Toronto.

According to a CBC news report she said she wants to get tough with private Toronto landlords. This message of ‘getting tough’ was a key message in the news conference Chow delivered.

What Does Get Tough With Toronto Landlords Mean?

Chow listed a bunch of proposals who would implement against landlords if she became the Mayor of the City of Toronto.

Here are the main points she made which could have a very dramatic impact on Toronto landlords, especially new condo landlords.

1. Increased Inspections On Private Residential Landlords

Chow said if she becomes Toronto mayor there will be a huge increase in the number of inspections the city makes on the rental properties of private landlords.

She also said she would set firm deadlines on private residential landlords who have issues with rental property inspectors.

2. Harsh Charges and Fines

Chow added if private residential landlords don’t play ball they will face serious consequences.

After all, Chow said, landlords must be punished because landlords are making money off the hard-working poor tenants of Toronto.

Even those tenants who can afford to pay thousands of dollars in rent each month in luxury locations are ‘victims’ according to Chow.

Here are the exact words from Olivia Chow on this issue:

“Charge them, take them to court and ask for stiffer fines,” Chow said Monday.

3. Landlords Will Pay For Inspections

A third proposal Chow is putting forward is for the city to make repairs when a landlord simply won’t, after which the city would tack the bill for such work onto the property tax bill for a landlord.

Chow would also boost the number of city staff assigned to deal with apartment standards and create a dedicated unit for these issues.

4. A Rating System for Landlords

She also would seek to establish a system for rental buildings that is similar to DineSafe, the red-yellow-green signage that appears in city restaurants.

Toronto Landlords and Politics

Most landlords and investors in Toronto don’t really care about politics. After all, we are too busy investing and running our rental properties. We don’t have time to read news letters or watch the local news each night.

This election is important.

Candidate Olivia Chow has a bunch of polices that will seriously harm the Toronto rental market and halt investment.

Do you want a mayor who views you as a villain or exploiter or renters? I don’t think so. Make sure you vote a for mayor who sees who you truly are – an investor in rental property housings.

You invested in a terrific condo or other property and only want to rent to good paying tenants and as all businesses want you want a “win-win” scenerio!

Toronto Landlords Vote

If you are a landlord in Toronto make sure you look at the issues carefully and vote a mayor who is pro-growth and wants to work with Toronto landlords to increase investment and encourage people to become landlords in Toronto.

This means it’s important to NOT vote for Olivia Chow and her plans to punish small landlords and private investors in Toronto rental property.

 

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Landlord and Tenant Board (LTB) Ontario

October 7th, 2014 · Landlord and Tenant Board (LTB), Ontario Landlords Association, Ontario landlords question

Toronto landlords Landlord and Tenant Board LTB Ontario

Ontario Landlords Question – What Happens at the Landlord and Tenant Board?

Many new landlords in Ontario are not aware of what happens when you have a problem with your tenant. We have written about this before at the Toronto landlords site including how Ontario doesn’t allow a bad tenants list.

For example, what if the following things happen to you as a landlord:

1. Tenants Stop Paying Rent

Do you know what a N4 is? What can you do if your tenants stop paying?

2. Tenants Keep Paying Rent Late

Months on end your tenants are late paying. What are your options?

3. Your Tenants Are Complaining About Other Tenants

Your tenants call and say the people renting the unit downstairs are smoking. Or they are very loud. Or something worse. And they want you to fix it. What can you do?

4. There are Damages To Your Rental Unit

You see your tenants have broken things. How can you get them to pay for what they did?

5. Your Tenant Breaks The Lease

You signed a one year lease and your tenants want to move out with 6 months left. What are your rights as a landlord?

Landlord and Tenant Board (LTB) Ontario

If you have problems with your tenants and your tenants are still living in your rental property you will need to go to the Ontario Landlord and Tenant Board. It’s also called the LTB for short.

There’s a terrific write up at the Ontario Landlords Association blog site called the “Truth About the Landlord and Tenant Board (LTB)” that is essential reading for all landlords.

Avoid The Landlord And Tenant Board?

The main advice is to avoid the Landlord and Tenant Board by screening your tenants carefully.

This means running a TVS credit check on your prospective tenants to make sure they are credit worthy, pay their bills on time, and have a history of respecting their landlords, their rental property and their lease agreement.

How Can You Prepare for a Landlord and Tenant Board Hearing?

Being prepared and knowing what to expect is extremely important for landlords. This is especially true for small landlords who are inexperienced because tenants get free legal aid at LTB to help them win their case.

Ontario Landlord Education

The Ontario Landlords Association has a fantastic CD series to help landlords every step of the way. This includes a CD to help you prepare for your Landlord and Tenant Board Hearing.

Landlord and Tenant Board (LTB) Ontario

Landlords try to avoid the biased LTB by renting to good tenants by running credit checks.

If you do have to go to a Landlord and Tenant Board Hearing make sure you know what to expect and how to handle it by becoming a premium member of the Ontario Landlords Association and accessing their Education Centre.

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Toronto Landlords – Renting Out Your Condo

September 1st, 2014 · Condo landlords, Investment property Toronto, Latest News, Ontario Landlords Association

Toronto Landlords - Renting Out Your Condo

Toronto Landlords – With No Bad Tenant List Available It’s Important to Screen Tenants Carefully Before Renting Out Your Condo

Our last story about the need for a Bad Tenant List led to lots of strong opinions from Toronto landlords.

An excellent investigation by the Toronto Star revealed how some bad tenants exploit loopholes in the system to avoid being evicted for months without paying rent.

Complaints by small landlords led the housing critic of the Ontario Progressive Conservative party to call for a way the Ministry of Municipal Affairs and Housing to create a registry of bad tenants.

This ‘bad tenant list’ would help small landlords and investors make sure they rented to the good tenants out there and avoid the professional tenants from Hell who abuse and manipulate the system so easily.

In the Toronto Star comments section a Mississauga landlord wrote ” It is regrettable that privacy rules keep landlords in the dark about bad tenants, many of whom are repeat offenders.”

A North York landlord wrote:

“I’ve been burned before. The worst tenants target small landlords who they know need to rent out the property to cover our mortgage. They have their acts down pat – dress nicely, exquisitely groomed, well-spoken and polite. They act like your best friend and make you feel you are safe renting to them.

This happened to me. I fell for it. They moved in and the troubles started within days. They kept making stuff up about the need for repairs in the property because they were worried about their ‘personal safety.’

The thing is the place was clean and safe. I would never allow the property to be unsafe.

It was only after the third or fourth call in the first month that I began to suspect I was being played with. Then they filed against me at the Landlord and Tenant Board and stopped paying rent.”

Investing in Toronto Condo Rental Properties

Make sure you rent to good tenants is extremely important if you are renting out your condominium.

A lot of new condo investors view themselves as just investors. It’s important to realize that once begin to rent out your property you are landlord and own a rental business.

Most condos have rules saying whoever owns the condo is responsible for the conduct of the people living there.

So what if your tenant starts partying? Or doesn’t pay rent and doesn’t clean up and other people complain? Or worse.

The answer is: you, the condo investor/owner are responsible for what your tenant does.

You are the one who will have to deal with the tenant and the Landlord and Tenant Board, all with management of the condominium demanding action (even if you can’t do it because bad tenants know how to abuse the Landlord and Tenant Board!)

Choose Your Tenants Wisely

It’s important to screen tenants carefully and this includes running credit checks.

You can join the Ontario Landlords Association for a low one time registration fee and get access to the Private Members Forum, the Ontario Landlord Rental Kit, and premium tenant credit check services.

New condo landlords and investors make sure you rent to great tenants and make your new investment a success.

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Toronto Landlords – Bad Tenant List

August 7th, 2014 · bad tenant list, Bad Tenant Registry, Ontario Landlords Association Membership

 Toronto Landlords - Creating a Registry of Bad Tenants in Ontario

Toronto Landlords – Is It Time the Ontario Ministry of Municipal Affairs and Housing Creates a Registry of Bad Tenants in Ontario?

A lot of Toronto landlords are talking about the latest instalment of the excellent Star investigative series on trouble tenants in Ontario.

It’s truly excellent work by investigative reporter Emily Mathieu and has a lot of residential property owners check out The Star website every day looking for Mathieu’s articles on trouble tenants.

Experienced landlords know that the vast majority of tenants are decent people who follow the rules. We also know they are looking for professional landlords owning safe and well-maintained rentals at affordable rates. Make sure you are this type of landlord and your chances of success rise fast.

Of course, there are also renters out there who know how to manipulate the Residential Tenancies Act and abuse the process at the Ontario Landlord and Tenant Board.

These tenants have politicians and many Ontario Landlords it would be helpful if there was a ‘bad tenant list’ as they need a bad tenant registry to counter bad tenants and remain as landlords.

Bad Tenant Gets House Arrest (For Fraud, Forgery, Writing Bad Cheques)

One of the investigative reports was on Adam Buttigieg. He’s a tenant who admitted to manipulating the system and ripping of small landlords (and others). He even stated there should have been a “red flag” warning for landlords not to rent to him.

In July he plead guilty to ten of the sixty-six charges against him and received a twelve month conditional sentence along with twelve months of probation.

Is It Time For the Creation of a Bad Tenant Registry?

The constant stories of bad tenants exploiting the system at the Toronto Star and at the Ontario Landlords Association have led some to call for the creation of a bad tenant registry.

This includes the housing critic of the Progressive Conservative party.

The housing critic is Ernie Hardeman and he called for the provincial government to being looking into a registry of both bad landlords and bad tenants ought to be created to protect the public.

He said this type of registry could make sure the landlord would be able to protect themselves against the worst bad tenant abusers of the system.

Many Ontario landlords agree we need more protection against bad tenants

Many landlords are saying we need a bad tenant registry in Ontario because bad tenants are leading to tremendous financial losses for small landlords and stopping a lot of good people from investing in Ontario rental property.

How Can You Avoid Renting to Bad Tenants?

We believe a bad tenant registry would be very helpful.

The key is to screen tenants carefully. For example check employment, social media, and check references carefully.

It’s also vitally important you run a credit check on your prospective tenants.

A tenant credit check is similar to a ‘bad tenant registry’ because you can get access to their past addresses and contact former landlords.

You also get a credit score which is an evaluation of the tenant’s past level of financial responsibility. Even Alberta landlords are regularly running credit checks to ensure they know who they are renting to.

Toronto Landlords – Is it time for a bad tenant list? Do you want the government to create a bad tenant registry?

It’s likely not coming soon so it’s up to you to screen your tenants carefully. Make sure you include running tenant credit checks as part of it.

Remember you can start running premium credit checks for only $10/check (they include a score and a recommendation) by becoming a member of the Ontario Landlords Association.

Become a member for only a one-time fee (no annual fee, just a one-time fee for getting your account set up).

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Toronto Landlords – How Much Can You Raise The Rent In 2015?

July 1st, 2014 · Rent Increase Guideline Toronto, Toronto Landlords

Toronto Landlords  How Much Can You Raise The Rent In 2015

The Ontario Rent Increase Guideline Was Announced and Toronto Landlords Can Only Raise the Rent 1.6 Per Cent in 2015

We have received lots of positive emails from Toronto landlords over our posts in 2015.

John Cheung from Scarborough was really happy to learn how Toronto landlords can run tenant credit checks to make sure you verify what they say to you and write in their application.

He has now become a member of the Ontario Landlords Association and found good tenants and is happy to become part of a large and growing group of serious and professional small residential landlords who are determined to succeed.

The Ontario Landlords Association was recommended in the Toronto Star for landlords to get credit checks and important documents.

John Cheung wrote in:

“Thank you for writing this very informational blog! The rental system in Ontario is quite ‘unique’ compared to Hong Kong and very challenging and I’m happy to become an OLA member and do tenant credit checks and found some good tenants!

Keep up the good work! Xie xie/Thank you!”

Questions About Raising The Rent

We have also received a lot of questions from landlords commenting on how expensive it is becoming to own a rental property.

For example, Andrew in Etobicoke wrote in:

“I rent to a family and all the utilities are included in the rent. They have rented from me for six years and with the price of electricity, gas, and water going up I’ve gone from a positive cash-flow situation to a negative cash-flow situation.

How much can I raise the rent? I will need to increase it by at least $200 per month to be able to keep being a landlord otherwise I have to sell. I can’t keep losing money.”

Ontario Rent Increase Guideline 2015

The Ministry of Municipal Affairs and Housing recently announced how much landlords can raise the rent for existing tenants in 2015.

It is only 1.6% and this was really disappointing for many small landlords.

Some Rental Properties Are Not Covered By the Rent Increase Guideline

If your property was build after November, 1991 you might be exempt from the rent increase guideline and can raise your rents as much as the market dictates (as long as you provide proper notice to your tenants).

This is the same situation as what Alberta landlords face. Give proper notice and raise the rent to keep from losing money.

Toronto Landlords – How Much Can You Raise the Rent?

For most residential landlords you can only raise the rent by 1.6% in 2015. Is that really enough to cover your increasing costs?

With such low rent increases it’s important to rent to good tenants.

Join the Ontario Landlords Association for a low one-time fee and start running tenant credit checks to make sure you know who you are renting to!

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Toronto Landlords – Landlord #7 Is Trying to Evict Nightmare Tenant Nina Willis

June 4th, 2014 · Credit Checks, Landlord Solutions, Ontario Landlord Credit Check, Ontario Landlords, Toronto Landlords

 Toronto Landlords - Landlord #7 Is Trying to Evict Nightmare tenant Nina Willis

A Scarborough Landlord Is the Latest Victim of a Tenant From Hell

Landlords all over the province are on high alert after reading about the latest landlord victim from the “Tenant From Hell”.

The report is from Metro News.

It’s about a tenant who they call a “tenant from Hell” because she is now at landlord #7 to cheat and cause financial destruction using and manipulating the Ontario Landlord and Tenant Board.

It’s also been reported at the Toronto Star.

And the Ontario Landlords Association has an editorial and a warning for Ontario landlords.

How To Rent To Good Tenants

We wrote before at the Toronto Landlords site about the importance of good tenant screening.

The majority of tenants out there are good and honest people.

They want to rent from you and will be good tenants.

What Is A Good Tenant?

You want to rent to these people, and they are the majority. They are decent people who want a safe, well-maintained and affordable home.

Even BC landlords have written about the challenges of finding good tenants.

And Alberta landlords are also now discussing the importance of renting from great tenants and avoiding the ‘professional tenants’ out there who want to rip off small landlords.

So what makes a good tenant?

1. They Want To Rent From Good Landlords

These good tenants want to rent from landlords who know the laws according to the Ontario Residential Tenancies Act and do things like give proper notice when making repairs.

2. Good Tenants Pay Rent On Time

These good tenants appreciate you and your Toronto rental property and will make sure they pay rent on time.

3. These Good Tenants Take Care of the Property

These tenants will move the lawn, shovel the drive-way and treat the property like they own it.

4. These Will Contact You If There Are Issues You Need To Take Care Off

Good tenants will call you if they see issues with the rental property.

For example, if there is a hint of mold they will call you so you can deal with it in the early stages.

5. Good Tenants Will Provide Proper Notice When Moving Out

Many Ontario landlords have emailed us complaining of tenants breaking the lease and moving with less than proper notice.

Good tenants read the rules and will fulfil their lease an provide proper notice so you can be ready to re-rent to new good tenants.

How Can I Rent To Good Toronto Tenants?

“Tenant From Hell” Nina Willis is now manipulation the Ontario Landlord and Tenant Board to live rent free while her Scarborough landlord is facing no rent, damages to the property, legal bills, and a huge amount of stress and frustration.

Don’t Become The Tenant From Hell’s Next Landlord Victim!

Whether you are an Ottawa Landlord, a Hamilton landlord or a Landlord with properties anywhere in the province, the advice is the same.

Make sure you screen your tenants carefully and always include a tenant credit check on the tenants (all of them who will rent the unit) before signing the lease and handing over the keys!

Check out the site Ontario Landlord Credit Check as it has great advice on the important of tenant screening.

Toronto Landlords – Find Great Tenants and Avoid the Tenants From Hell

Make Sure You Do A Tenant Credit Check On All Tenants Before Renting To Them.

Join the Ontario Landlords Association for a One-Time Registration Fee and Start Doing Premium Credit Checks For Only $10/Check!

Invest $10 to Make Sure You Rent To Great Tenants!

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Toronto Landlords: Tips and Advice For Renting to Students in Toronto

April 1st, 2014 · Rent to Students, Student landlords, Uncategorized

 Toronto landlords rent to students

Do You Want to Be a Successful and Profitable Toronto Student Landlord?

If you own rental properties in Toronto there has been a lot of good news in 2014.

It has nothing to do with changes in the Residential Tenancy Act or improvements at the Landlord and Tenant Board.

It’s all about the rising prices of real estate, including your rental properties.

According to Moneysense the average price of a property in Toronto is up 9% over last year and a leading place for people to live.

Detached homes were up 12% while condominiums saw a rise of 9.7% and semi-detached houses increased by 6.6%.

According to the Financial Post we should get ready for house prices to continue to rise in Toronto.

How To Find Good Tenants For Your Increasingly Expensive Property?

Your rental property is a financial asset that is going up in value.

So you want to make sure rent to good tenants.

With property prices going up you would hate to be stuck with a ‘tenant from Hell.’

One Idea Is To Rent To Students

Many Toronto Landlords Rent to Students. It’s a great opportunity.

Why?

Some of the reasons include:

1.  Students are too busy to manipulate the Landlord & Tenant Board

2.  Students have guaranteed income via the Ontario Student Assistance Program (OSAP)

3.  It’s normal for students to have ‘Guarantors’

4.  Students are often eager to leave campus and rent a private property.

5.  Toronto has some very large universities and a large student population

We have the biggest university in Canada…the University of Toronto (U of T).

The University of Toronto also has satellite campuses in place such as Scarborough.

How Can You Become a Successful Toronto Student Landlord?

The Ontario Landlords Association has a terrific interview with Jennifer Radley.

Jennifer is the manager of the University of Toronto Housing Services Department.

Her job is to help students find safe, affordable and high quality rental housing.

The interview was very helpful.

While some of the questions seem simple, the answers are very helpful for landlords to know what you need to do to find good student tenants.

For example, students are looking for excellent rental properties.

Landlords want good tenants….Students are also looking to rent from good landlords

1.  So what does a typical university student think makes a good landlord?

2.  How can a landlord make sure they are doing what good students tenants want?

3.  What do tenants not want their landlord to do?

Jennifer explained that tenants are looking for a landlord that maintains the property.

They also want a landlord who provides affordable rents and is aware of the Ontario Human Rights Commission rules and the laws landlords must abide by.

For example, tenants appreciate landlords who know they must provide 24 hour notice before entering the property.

You can read the full interview by clicking “Renting to Students in Ontario.”

In Our Era of Rising Property Prices It’s Essential You Rent to Good Tenants

Renting to students is an excellent option for landlords.

Stories of successful landlords are out there. 

Whether you are an Ottawa landlord renting to students at U of O or even an Alberta Landlord renting to students in Lethbridge, it’s a great option for landlords to consider.

To discuss this and other landlords ideas and issues welcome to the Toronto Landlords forum.

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Toronto Landlords: Review of Ontario Landlords Association Membership

March 13th, 2014 · Ontario Landlords, Rental Kits, Review of the Ontario Landlords Association, Tenant Credit Checks

 Review of the Ontario Landlords Association

Why We Recommend The Ontario Landlords Association

Being a landlord in Toronto and in the Greater Toronto Area (GTA) can be a very rewarding a profitable business in 2014!

Publications such as TheGRIDTO have headlines asking “Toronto Apartment Rentals – How Did They Get So Nuts?”

Real estate prices are rising and there are a lot of great tenants out there looking to rent.

If you are a professional, knowledgeable landlord with a great property and a fair rent price things haven’t been better in years.

With prices still rising and a low vacancy rate owning residential rentals properties in Toronto and the GTA is proving to be a great investment.

Professional Tenants

There are still dangers being an Ontario landlord.

This includes a rent increase guideline of only 0.8% that has some Ottawa landlords discussing moving to commercial properties.

It also includes the dangers of ‘professional tenants’ who know how to play every game and manipulate you and the  Residential Tenancy Act.

You only need to open a local newspaper to read about these professional tenants who end up making their landlord lose lots of money along with giving the landlord months of anxiety.

Even a Superior Court judge criticized the Ontario Landlord and Tenant Board for allowing pro tenants such a great opportunity to cause grief and huge financial losses for landlords.

One of the worst things is that these pro tenants like to target small landlords.

How Can You Protect Yourself?

One of the key ways to protect yourself is by joining a landlord association.

Unfortunately, the old school landlord associations focus more on large corporate landlords and not small landlords. 

Despite their marketing, these old associations are not run by experienced small landlords who know what other small landlords need to succeed.

Review of Ontario Landlords Association Membership

The Ontario Landlords Association was created  by a group of experienced and successful small and medium sized landlords.

Their goal was to help small landlords across Ontario network together, help each other, create a landlord community and have create a united “voice” so the government and media could finally know the challenges small landlords in Ontario faced.

And it worked! 

For the first time small landlords were able to get their stories out to the government and the media.

Whether it was issues regarding bedbugs or problems with the Landlord and Tenant Board, the Ontario Landlords Association got our side of the story out there.

This Toronto Sun article on the 2014 rent increase guideline shows you how important it is that small landlords finally have this voice.

Even the Ontario government quickly recognized the importance of the Ontario Landlords Association as a voice for small private residential landlords and an appreciation of what we offer.

What Tools and Services Does Ontario Landlords Association Membership Offer?

As the group of landlords grew larger they began to offer tools and services to help small landlords succeed.

Knowing small landlords are on a tight budget and cash-flow is tight, the fees for top-flight services were strongly negotiated to get the lowest prices possible for incredible services.

Why Should You Become a Member of the Ontario Landlords Association?

There are a whole lot of reasons. 

These include:

1.         You only pay a one-time fee to become a member

Landlords are on tight budgets and want to save money at all times. 

You can become an Ontario Landlords Association member for a one-time fee of only $99.

There are no annual fees! 

Just enough to cover the costs of running the site.

This is because the Ontario Landlords Association was created to help landlords and develop a large community of landlords to create a strong ‘voice’.

2.         Network with thousands of other landlords

The Ontario Landlord Association forum is the largest forum in Canada.

There are thousands of members in the Private Members forum networking and helping each other outside of the eyes of the general public.

3.         Tenant Credit checks

The Ontario Landlords Association offers the best landlord credit checks in Canada.

You can use TVS, Equifax or GARDA at a huge discount per check.

4.         Get access to leases, applications & more in the Rental Kit

The Ontario Landlords Associations landlords our own ‘online rental kit library’ that can be accessed 24/7 from your home or office computer.

You can choose from a large number of leases, applications and everything you need anytime you want to.

No need for photocopying because you can just download anytime!

5.         Landlord Guidebooks and Landlord Manuals

Members of the Ontario Landlords Association can download guidebooks and manuals on topics such as tenant screening and advertising.

Unlike the government sites, these guidebooks and manuals tell the ‘real story’.

And unlike for profit real estate sites like REIN these are not ‘sales books’ looking for you to invest in any type of investment or service.

We Strongly Recommend Membership with the Ontario Landlords Association

For only a low one-time fee you get access to tremendous services at terrific prices. We’ve written before how important tenant credit checks are.

Joining the Ontario Landlords Association is the deal of a lifetime for Ontario landlords and will help you and your landlord business succeed.

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Toronto Landlords: How Much Can I Raise the Rent for New Condos, Townhouses, and Apartments?

March 1st, 2014 · 1991 rent exemption, Rent Increase for New Property

 Toronto landlords how much can i raise the rent for new buildings

Your Property Might Be Exempt from the 2014 Rent Increase Guideline!

The news from the Ontario Ministry of Municipal Affair and Housing shook the world of landlords when the news of the Rent Increase Guideline was announced.

According to the Ministry landlords can only raise the rent 0.8% in 2014.

We wrote about this earlier and about how many landlords were dissatisfied with such a low legal increase.

Even articles in the Toronto Sun had landlords saying such a low rent increase would not cover their costs.

After all property taxes aren’t capped at less than 1 %. 

Neither are the increased costs for electricians, plumbers and other professionals who landlords reply on (and pay) to maintain our properties in good, safe condition.

In the Toronto Sun story a Mississauga landlord explained that such low increases drive good landlords out of the industry because good landlords want to keep their properties in good shape and need rent to help pay to do so.

Meanwhile, landlords who don’t care about keeping their properties safe and maintained don’t care about such a low rent increase because they won’t spend on their rentals.

Some Ottawa landlords wrote how they were going to leave the residential rental sector for the commercial sector where there are fewer government controls.

Other Ontario landlords have expressed an interest in leaving Ontario and investing in other provinces such as British Columbia where the guideline is the inflation rate plus 2% (to protect landlords and make sure they can cover costs) or the province of Alberta (where there is no rent control for landlords).

I Heard Some New Buildings Can Raise the Rent As Much As The Landlord Wants

There is good news for landlords who own newer rental properties.

According to the Ontario Landlords Association some properties are exempt from the Rent Increase Guideline.

For example, while the Residential Tenancies Act restricts how much landlords can raise the rent these but rent control provisions only apply to buildings occupied before November 1st, 1991.

Why Are New Buildings Allowed To Raise The Rent?

Linda Jeffrey is the Minister of Municipal Affairs and Housing. The Minister provided us with the following information about why new buildings are allowed to raise the rent above the guideline while older properties cannot. 

She said:

- The post 1991 rent exemption was first introduced to be an incentive to private landlords to create new rental properties

- This exemption has been maintain for the same purpose

- The incentive helps ensure Ontario has new rental properties coming into existence

- The creation of new rental stock creates employment in the construction industry and helps the Ontario economy.

Was Your Condo, Townhouse, House or Apartment for Rent Built After Nov 1, 1991?

If it was you are probably exempt from rent control and can raise the rent as you see fit.

Make sure you check out the Landlord and Tenant Board website to find out more information.

To Discuss This And Other Landlord Issues Take A Look At the Toronto Landlord Forum

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