Ontario Landlord Blog

Selling property that is tenanted poses several challenges for Ontario landlords and realtors. Firstly, Ontario law does not allow the landlord to get possession of a property for the purposes of selling. Generally, the property must be sold with the tenant in place. Only if the purchaser intends to use the property as a residence can the purchaser commence legal proceedings to remove the tenant at the end of the tenants lease. Proceedings cannot be commenced until after and agreement of purchase and sale is signed. Unless the tenant agrees to move the result is that the property must generally be listed, shown and sold with the tenant in place. Living in a unit that is listed for sale is not fun with constant showings and very little privacy. Often if you explain the situation a prudent tenant will prefer to leave beforehand rather than suffer the inconvenience only be faced with the same eventuality. Alternatively if the premises are exempt from rent control a rent increase

Residential Tenancies Act Course  Continuing Education Course for Realtors (2 hr / CEU) For more information on any of the topic discussed please contact me by phone or email.

Toronto real estate has more than weathered the storm of global financial crisis, it has flourished. Nevertheless the chart is anything but a steady climb as prices fluctuate seasonally: Move your mouse over the last high points and low points on the graph. The same months come up as highs or lows consistently The graph below represents the month/month % change n Average MLS sale price

Under Ontario law, the limit on annual rent increases (3.1% for 2011) does not apply to most newer condo buildings (or buildings built after 1991). For the exact wording of the exemption see sec 6.2 of the Residential Tenancies Act. In exempt units landlords can increase the rent to whatever the market will bear after 12 months have elapsed since the last increase (or move in). The landlord even increase the rent beyond market to facilitate obtaining possession for sale or otherwise. The other restrictions on Ontario rent increases still apply and special forms need to be used. It is particularly important to adhere to these rules as the tenant is more likely to challenge an above guideline increase. If you would like more information on the exemption or how to take optimumum advantage of Ontario's rent regulations in your real estate investments please contact me.

Many suggest that the economy is at fault for Ontario`s ever increasing burden landlord and tenant disputes and tenants not paying rent. Working in some very difficult economies however shows a different side. Perhaps the problem lies elsewhere ? In Tampa, Florida the economy is far worse than Ontario. Even so dealing with tenants and rent payments is far easier. The difference lies in the policy: In Florida late fees are allowed. Tenants pay their rent on time to avoid the additional charge. In Ontario late fees are illegal. Post dated cheques are likewise illegal as are pre-authorized payments. Florida requires only a 3 day notice demanding the rent before the landlord can apply for eviction. The time necessary to process an eviction in the Courts is less than a month. It is therefore a last resort employed only when absolutely necessary. In Ontario the only lawful way to collect overdue rent is through a government process that takes months. Landlord have to rush to start the