Archive for the ‘Toronto landlords’ Category

University of Toronto: How Can Landlords Rent to Students In Ontario?

Monday, September 1st, 2014

Toronto landlords rent to students

University of Toronto – More Top Tips for Ontario Landlords Who Want To Rent to Students

Our post last Spring advising Ontario landlords how to successfully rent to students led to hundreds of emails coming in.

Landlords across Ontario kept telling us how much they appreciated the advice presented by the helpful Manager of Rental Housing Service for the University of Toronto.

It looks like more investors are looking at renting to students as way to create a profitable rental business. We even had some Alberta landlords send some questions in.

One of the highlights of the mail was from a BC landlord. She wrote how the latest CBC News story on some “serial tenants” in British Columbia has led her to thinking of changing her rental business strategy to renting to students only and thanked us for the tips.

The manager is Jennifer Radley and the U of T is lucky to have such an helpful person who cares about student tenants and wants to help student landlords (because creating more educated and professional landlords helps students in the long run).

Here are more questions and answers from Jennifer to help landlords successfully rent to great student tenants.

1. Do students normally have guarantors who can sign the lease?

Not always, especially if they are international students.

Some students will obtain a letter from their Professor or Registrar confirming that they are a F/T student and most likely have the financial means to study/live at U of T.

2. Do students like furnished apartments (beds, tables, chairs, etc.)?And will they

    be willing to pay for the furnishings?

Yes, many students do like furnished apartments. The ideal situation is where furnishings is optional. Depending on how much extra, they could be willing to pay.

3. Most students are pretty young.  Is it worthwhile to do a tenant credit check on

    them before renting?”

We do recommend that landlords protect themselves, but many students may not have much of a credit history, so what you find out may be limited.

However, most students do have funding to cover the costs for their studies, including housing, which they may be able to provide you with evidence of, and may also be able to show they have been responsible in paying off their tuition and other fees to date.

4. How can I screen student tenants?

 We recommend treating a viewing like an interview – ask them questions about past tenancies (if applicable), their source(s) of funding (e.g. OSAP, grants, awards, employment income, etc.), how long they are here to study, etc. and also ask for references – past landlords, registrars, residence deans, etc.

5. Engineering students have a reputation as party animals who wreck their  

    residences.  Any truth to this in 2014?

Not in our experience – most of our residences actually have the opposite experience: Engineering students are so busy with their heavy workload, they do not do engage in enough social activities.

Most engineering students tell us they can only afford to do non-school related activities one night a week.

6. Is it true Masters & PhD students are better tenants compared to undergrads?

Not necessarily. U of T is a challenging school that attracts high caliber students for all its programs.

Most U of T students are hard workers who take their studies, and their financial commitments, very seriously.  

7. How can I explain to students I’m a good landlord who only wants rent paid on   

    time and won’t bother the students at all and will fix things?”

Tell them. Students are looking for honest, kind and hard-working landlords – similar to hat landlords look for in a tenant.

8. Should I hire a female property manager if all the tenants are female nursing


 That is not required.

 9. Does the University of Toronto have a department to deal with tenant complaints?”

Yes, Housing Services! We have a formal complaints process for both landlords and student tenants.

Ontario Landlords – Do you want to rent to students?

Learn from the advice provided by the University of Toronto and become the type of landlord student tenants are looking for.

Landlords Have To Supply Air Conditioners to Every Renter?

Thursday, August 9th, 2012

August 10th, 2012


Toronto city council: Proposal could mean mandatory air conditioning for renters

What’s the Story?

Two members of Toronto City Council want to re-evaluate laws determining temperatures for rental units.

Isn’t there already a Law?

Yes, there are laws for minimum temperatures. This means landlords must maintain a certain temperature in their rentals during the Winter months.

So What Is the Concern?

The Councillors have new concerns. First, they want some flexibility in the law stating landlords must keep the heat on until June 1st no matter what the temperature outdoors happens to be.
Sounds Like Good Common Sense!
Yes. As our weather seems to be getting warmer, giving landlords more flexibility is good policy.
What’s their Second Idea?
The second idea is more problematic. It is to write into law tenants have the right to a “maximum” temperature.
Does this Mean They Expect Air Conditioning for Every Renter?
Yes. Councillor Josh Matlow believes it’s time to look into and re-evaluate exactly what are “appropriate” room temperatures in rental units.

Matlow’s motion could lead to legally mandatory air conditioners for ever tenant.  He said his idea might “inconvenience” landlords, however  “it’s not only totally worthwhile, I think it’s a basic right and expectation. It’s not only a quality of life issue it’s a basic health issue.”

Did He Discuss the Costs Involved For this “Idea”?


Certainly Matlow Spoke about How this Would Conflict with His Proposals on Green Energy?


New air conditioning units in all rental properties would lead to a vast increase in energy consumption.

Doesn’t the Residential Tenancy Act (RTA) Cover This Already?

The RTA already allows landlords and tenants to agree to terms that would allow air conditioners to be installed. Tenants pay for the true costs of this service.

So Matlow’s Proposal Wants Landlords to Pay for What Tenants Can Already Get?

Yes.  Tenants can get the service if they pay for it.

Matlow Wants Landlords to “Eat the Costs”

It appears so.

This Proposal Seems Silly and Harmful to Landlords and Tenants!

Yes again.

The Ontario Landlords Association hopes Toronto Council look at the big picture with this proposal.  We ask them to take a look and give sincere consideration to the overall social /economic/environmental impact of their ideas.

Trying to curry tenant votes for the next election, at the expense of our environment and the landlords who provide housing to tenants all over Ontario, is short-sighted, selfish, and destructive.

We hope the Councillors realize this.  We also hope voters realize it.

To discuss this issue welcome to the Ontario Landlord Forums.  The debate over this issue can be found here.

Are Investors and Tenants are Leaving Toronto (416) for the GTA (905)?

Tuesday, July 3rd, 2012

July 4th, 2012


What’s Going On Between the 416 and the 905?

So far in 2012 there have been a grand total of 10,992 condo units on the market in the Toronto and Greater Toronto areas.

Where is Most of the Investment Going?

Of these investments of 10,882 more than 4,500 have been created in the GTA (Greater Toronto Area

What Does this Mean?  It’s Still Less Than Half

Let’s look again.  For 2012, there have been 10,882 newly created condo properties in the Greater Toronto Area.  Of this, more than 4,500 have been opened in the Greater Toronto Area (905).

What does this really mean?  The 2012 numbers means and increase of more than 160% compared to 2011!

This also shows a decline of over 31% for Toronto!

This is Important News for Investors


Let’s look at the Latest Ipsos Reid poll

Well, according to them 25% of Toronto tenants and residents are planning to move to the GTA/905!

This is an truly Important Shift Investors Should Recognize

Why is there such a Shift to the GTA?

Richard Silver of the Toronto Real Estate  Board, have said it’s due to the Toronto Land Transfer Tax.

What Does All This Mean?

It means investing in the low tax, pro-growth GTA is a great option for landlord investors.

What Does This Mean For Landlords?

It means the GTA is growing fast.  More growth means more qualified tenants.

And imagine when you want to sell your rental.  Growing demand means appreciation and faster sales.