Clauses contained in a lease is another contentious issue. The RTA and LTB treat all tenants based on the lowest common denominator. They believe tenants are incompetent and unable to understand a contract. In the old days a lease was considered a legal binding contract and landlord/tenant...

1) No 2) Why What I believe is that a landlord should have the right to expect a tenant to vacate at the end of their lease. They should only be allowed to stay if the landlord wishes to write a new lease.

Adam is on the money. I would be doing as he suggested. Send each of them a copy of the LTB N9 form to fill out and return to you (May 31 as the termination date). Once you receive it back send them each a letter releasing them from their lease. This should get you to April 1 and allow you to...

It doesn't make a lot of financial sense to pay 190, do 40 in reno to rent and have a property which will only then be worth 250. For an additional 12 down you could buy a property at 250 and be able to rent immediately without the time and labour or potential over runs of a reno property...

Be very careful in dealing with this type of tenant. Once they start making demands it will never end. Ultimately they will drive you crazy with their never ending scene of entitlement. Yes definitely accommodate if it does not negatively impact your property but always do so with the caveat...

Was there any discussion with the tenant at the time they applied to rent the place regarding locks. If not and you had no agreement to install special locks then it is not your problem. What you can do is suggest that you will install what they request but it will be at their expense and...

You can definitely do it Ed and it is a good tool to eliminate the undesirable "I know my rights" tenants. Personally I have no problem stretching the law or intimidating applicants/tenants when necessary. The Ontario RTA/LTB is so heavily weighted in favour of tenants that I see no reason...

What is the purchase price of the homes and basic expenses to carry a high value home, mortgage payments, down payment, insurance etc?

My opinion. As a long term hold on those single family homes you will likely have negative cash flow at about $200 per month. If interest rates rise it will be greater. The reason being is that single family homes generally have expenses in the 50% of income range but because they are all new...

No the landlord tenant board does not have a payment grace period. Although they do not penalise a tenant for paying late. Any grace period or penalty is in the hands of the landlord based on LTB policies. When a tenant does not pay by midnight on the first of the month a landlord has options...

I am in full agreement Adam but realistically the communication with the tenant to resolve the matter should have taken place on March 2nd. Time is being wasted Tic Toc. The board process can take months and as with most landlords the decision to move forward always takes too long. In this...

As a added disincentive in Ontario landlords have the option of filing a L9. This is particularly effective in the case of a second occurrence of a NSF. The L9 is filed immediately upon receiving the NSF notice from the bank and requires no notification to the tenant. It is guaranteed the board...

The question is what are you after from the tenant. You have their last months rent but they owe one more month for not providing 60 days notice. For the sake of one month is it possible for you to adequately screen and have a new tenant for April 1. Possibly risky in Ontario unless you have a...

There is one small problem with this property. When debt repayment and all other costs of carrying the property are included this will create negative cash flow with rent at only $1100/month.

The LMR can legally only be used for the actual last month of the tenants lease.. Tenants are required to provide 60 days notice meaning your tenant would legally have to give proper written notice prior to March 1st to vacate at the end of April. LMR could then be applied to April if YOU chose...

You are not required to provide receipts to tenants for your tax purposes. Receipts for tenants are used solely for their taxes. Having said that receipts are not required to be provided to tenants unless they ask for them according to the RTA. It is their problem not yours. I provide my...

As Thomas suggested the solution is to have the utilities paid by the tenants. Instead of a nickel and dime solution for the symptoms you need to concentrate on a cure for the cause. Utilities should never be included in a rental especially students. There is no reason for you to be stuck with...

The results will depend on whether rents are driven by the market or the landlord. Your target market will not likely be of lower intellect and therefor not as likely to fall for the glitz of the marketing but who knows. To be honest you can not buy "good" furniture to stage a unit for only...

When a tenant stops paying landlords file the N4 believing this is the process to collect rent owed by allowing the tenant 14 days to pay without penalty. If they are again late the landlord then believes the N4 will result in a eviction of a bad tenant but this will not be successful. The board...