As an incentive for good tenants to stay, and if it works with my Belize & profits, can I offer/bribe tenants w/ a rebate for good behaviour every so often (in lieau of hiring prop. mgr. and I`m managing from 4 hours away)? Can I word or include this in advance in a lease contract or is this illegal/bad--if so how should it be worded - what terms to use? `coz I can`t write - "I`ll give you a $50 rent refund every other month for not giving me headaches and not bugging me this whole time." If I can`t do it, what then? just give them a surprise gift periodically, but not encourage them in advance...?
Is it legal to offer rent rebate in ONtario?
- Thread starter donksky
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Gift cards and a well written note/letter work great!!!
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Not a good idea to go the incentive route. A landlord needs to be very selective in choosing the right tenant to start and then train them to be good tenants. A incentive is simply money out of your pocket to bribe good behaviour that should be taught to and learned by tenants.
If you are a good landlord responding quickly to there issues and being strict with your rules you will get far better results than with a bribe.
If you are a good landlord responding quickly to there issues and being strict with your rules you will get far better results than with a bribe.
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I like Greg`s answer - In your case discounting is not the way to go. Hire someone if its needed.
Also note your discounted rent can be judged to be actual rent
You can do rent discounts but they`re are issues with this re above if challenged could be viewed as actual rent - rules are along the lines of can`t be more than 1 month of free rent in a year (8% of yearly rent total) and I forget the exact number but it was something along the lines of rent can`t be discounted during more than 4 months in a 12 month period. Check with ltb before writting - for your purposes it won`t be possible to structure as you`re hoping.
Also note your discounted rent can be judged to be actual rent
You can do rent discounts but they`re are issues with this re above if challenged could be viewed as actual rent - rules are along the lines of can`t be more than 1 month of free rent in a year (8% of yearly rent total) and I forget the exact number but it was something along the lines of rent can`t be discounted during more than 4 months in a 12 month period. Check with ltb before writting - for your purposes it won`t be possible to structure as you`re hoping.