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.
