[quote user=invst4profit]I can't believe how easy you have the business environment out west regarding tenant damage. In Ontario we are not allowed damage deposits and short of taking a tenant to small claims court, assuming they are not on welfare,there is next to no consequences for tenants. We paint, clean, repair damaged walls, doors, windows, counters, floors, carpets, appliances etc and all with barely any hope of compensation.
We operate on the principal that we get it back on the market asap and hope the next tenant does less damage.
Simply the cost of doing business for most landlords in Ontario.
It's called vote buying !
I used to think that the Liberals were a centrist, balanced party. Gee, under Paul Martin they were almost right-of-centre. That changed rather quickly.
Perhaps with the "right" party it will change in 4 years !
The change in landlord-tenant act is easy to fix after a new election .. the other issues, especially DEBT, will take years .. decades most likely !!
Read this article here:
http://www2.macleans.ca/2011/10/17/why-ontario-is-poised-to-become-canada%E2%80%99s-greece/
Or look at these debt to GDP ratios across Canada:
http://worthwhile.typepad.com/.a/6a00d83451688169e20153926ea5eb970b-pi
Add to that a failed solar feed-in-tariff, strong union power, very high
debt, overpaid civil servants with generous pensions and early
retirement age, land transfer taxes and a large uneducated immigration
population you have to be very VERY selective where to invest in
Ontario.