Toronto Landlords Know Running Your Rental Business Is Becoming More Complex Every Month. Now Get Advice and Strategies from Successful and Experienced Ontario Landlords and Property Managers to Help You Succeed

The Toronto condominium market is still hot these days while other areas in Ontario have cooled down. More and more people are coming to Toronto from around the world and want to live near their jobs, good shopping and convenient public transport.

With more people wanting to move to Toronto it’s been a good opportunity for landlords and investors as there are lots of good tenants out there.  However, things are not 100% rosy and there are potential pitfalls that all small landlords need to be aware of. This is why it’s even more important than ever to become an EXPERT ONTARIO LANDLORD.

Rent Controls Now Apply To New Rental Units

Before April 2017 new rental units that were built after 1991 were exempt from rent control. This rule was created to encourage more people to become landlords and to encourage the building of more rental buildings. After all, any smart business person knows that to run a successful business you must increase your revenue when costs rise.

Now things have changed and landlords with post 1991 rental units now stuck with raising rents only according to the flawed Ontario rental guideline.

Bad Tenants Can Manipulate the System and End Up Costing You Tens of Thousands of Dollars

We have seen some major media stories of bad tenants causing huge problems for landlords. These problems range from not paying rent for months, to trashing properties, to physically assault their landlord, to even murdering their landlord. While the most extreme cases are rare, others such as non-payment of rent and creating expensive damages are more common.

Good Tenants Are Looking For Knowledgeable Landlords Who Know The Rules and Follow Them

Tenants with good screening qualifications have a lot of choices in Toronto. Because landlords are looking for these types of qualified tenants it means you need to meet what they are looking for.

Besides a great property at a competitive price many highly qualified tenants are looking to rent from knowledge Toronto landlords.

They don’t want to waste their time dealing with landlords who don’t know what their tenants rights and responsibilities are.  If any issues arise they want their landlord to be a “professional landlord” and know how to deal with the issue quickly and correctly according to the laws of the Ontario Tenancies Act and the Ontario Landlord and Tenant Board.

Tenants Worry About Renting From Landlords Who Are Ignorant of the Rules And How To Handle Any Potential Problems

As one Ontario Landlords Association member who successfully rents out a number of condominium wrote on the OLA forum:

As a landlord for nearly 30 years even I have to admit there are a lot of good tenants out there. They are very busy people and when they see my units they often have a list of good questions to ask me. I am ready to answer them in a clear and concise manner.

I also let them know about my experience as a Toronto landlord and my knowledge of the rules and regulations.

So many applicants tell me there are so many “newbie” landlords who don’t have clue about how things work and tell me they appreciate the fact that I’m an OLA member and know how to handle anything that comes up in a fair and legal manner. If you want to rent to highly qualified renters make sure you let them know they are going to deal with a ‘pro’ and not somebody who says “I’ll kick you out” for even the most basic, simple tenant request. 

Part of becoming a successful landlord in Ontario these days is to let tenants know you take it seriously and you won’t believe how many will want to rent to you, as they don’t want trouble and worry about “bad landlords”.

You can now join the Ontario Landlord Forum for a low one time fee!

How Can Toronto Landlords Get Help?

There a lot of people who aren’t experienced landlords offering “help” these days. They make you believe they have a ‘magic wand’ if you pay enough to them.  There are others who act as experts just to pump themselves up.

The reality is there is no ‘magic wand’ and successful landlords must rely on smart strategies and deal with situations correctly.

There Is So Much Bad Information Out There

In the extremely complicated situation Ontario landlords face, many are looking for help and advice. OLA members often discuss how much misinformation there is out there!

From real estate agents who offer guides that are unhelpful and dangerous to bloggers who aren’t even landlords telling what to do to forums where spam bots keep writing about “landlord issues” for SEO purposes, to so called ‘experts’ who will charge you thousands of dollars and are great at marketing themselves but offer no guarantees of results.

Things are Even MORE Unfair For Small Landlords Now!

The reality is many people have already invested in rental or investment properties. Even more people are investing in Ontario rental properties in 2017. The rules have changes and things are even more unfair for landlords and these same rules leave you wide open to unethical tenants who know how to abuse the system.

Ontario Landlord Vault

Finally, small landlords have a place to find answers their questions and advice on how to deal with situations. It’s the Ontario Landlord Knowledge Vault.

The Ontario Landlord Knowledge Vault Was Created By Successful & Experience Ontario Landlords & Property Managers to Help You Succeed

When landlords have trouble it’s hard to know where to turn. There are people out there claiming to help you but do they really know what they are doing? The risks of making a “wrong move” can end up costing you tens of thousands of dollars.

The Ontario Landlord Vault isn’t legal advice and it’s not written by lawyers. The tips and strategies are from experienced and successful landlords who have “walked the walk” and not just “talk the talk.”

The Ontario Landlord Vault Helps Landlords Along with credit checks, criminal checks and using the right documents, The Ontario Landlord Vault will help you as a Toronto Landlord.