Toronto Star – “Join a group such as the Ontario Landlords Association where after becoming a member, you can do a credit check for as low as $10, and use their supporting materials to assist you.”
Posts Tagged ‘ottawa landlords’
Toronto Star – Join A Group Such As The Ontario Landlords Association To Avoid Bad Tenants
Sunday, September 9th, 2018Changes to Above Guideline Rent Increase Applications in 2018
Monday, January 1st, 2018
Getting the Message Out to Small Landlords Across Ontario! Be Aware The Law Is Changing For Above Guideline Rent Increase Applications in 2018
Successful Ontario landlords know it’s important to always be aware of new laws that regulate our industry. If you are not careful and don’t know the latest changes you could face some severe financial penalties. Those of who have been unfortunate enough to go to the Landlord and Tenant Board know you must be 100% ‘on your game’ and become an expert on the rules and regulations if you are going to succeed.
And there have been many changes since the beginning of 2017.
One of the biggest changes that has impacted small landlords is the change in how we can use “own use” applications to get our properties back. We wrote about these Ontario landlord changes earlier to let everyone know about what is going on so you can prepare and be aware.
Other changes have included the fact landlords with properties built after 1991 are now included under the government rent control umbrella and changes to above guideline rent increases.
An Ottawa landlord wrote on our Members forum in what turned out to be huge thread:
“I have kept my rent increases low over the past few years, sometimes not even raising the rent in order to keep my tenants from looking at other properties and potentially moving. I pay for power and now my bills are becoming so high it’s jeopardizing my ability to even cover my costs! Has anyone ever done an above the guideline increase? Thanks in advance.”
Unfortunately it’s not good news for this landlord as the news about changes didn’t reach her.
New Laws For Above Guideline Rent Increase for Ontario Landlords
Everyone who owns rentals across Ontario please carefully read this message from the Ministry to us, as they know we can reach landlords all over the province:
To: Ontario Landlords Association
Above Guideline Rent Increase Application – The Law Is Changing
On January 1, 2018, two changes to the Residential Tenancies Act that relate to the landlord’s Application For a Rent Increase above the Guideline will come into effect
1. A landlord will no longer be able to apply for a rent increase above the guideline because of utility costs (e.g. fuel, electricity or water) have increased.
2. If a landlord has not complied with an order to fix an elevator (issued by the LTB, the municipality or the technical standards and safety authority) the LTB can dismiss the application or require the landlord to fix the elevators before ordering an above the guideline increase.
A landlord can still apply to the LTB for an increase above the guideline if:
The landlord’s costs for municipal taxes and charges have increased significantly The landlord has done major repairs or renovations (these are called capital expenditures)
or, The landlord has operation costs for security services performed by person who are not employees of the landlord.
Changes to the Landlord and Tenant Board Form L5
The Landlord and Tenant Board has updated the L5: Application for an Above Guideline Rent Increase to reflect the changes.
Landlords need to begin using this new form immediately. Make sure you are getting the latest version of the form by clearing your browser cache to avoid any mistakes. The old version of this forum will be accepted until January 30, 2018.
Getting the Message Out to Ontario Landlords
Small Ontario landlords have faced unfair rules that are biased for bad tenants for years. Now there are even more changes coming that are unfair for Ontario landlords. However, you must follow the rules and be aware of them.
The Ontario Landlords Association is reaching landlords all over the province and helping them be aware of new rules and changes to the way small landlords can run their rental business.
There have been important changes to how the L5 works starting today. We will provide updates on this and how other new changes are impacting our landlord community throughout the years.
Knowledge is power and Ontario Landlords need to be aware of these rule changes in order to succeed.
Landlords in Ontario – The Rent Increase Guideline For 2018 is 1.8%
Saturday, July 1st, 2017Our Province Wide Landlord Community Believes the Rent Increase is Too Low and We Need A Better Way to Calculate the Rent Increase Guideline To Help Small Landlords Cover Costs
Every year the Ministry of Housing publishes the Rent Increase Guideline.
Ontario has ‘rent control’ and this guideline informs residential landlords how much they can raise the rent in a given year.
The Ministry comes up with this annual guideline by looking at the Consumer Price Index. This index shows the level of inflation based on prices of such things as groceries and the cost of buying clothes.
How Much Can Ontario Landlords Raise the Rent in 2018?
Based on the Consumer Price Index the Ministry of Housing announced Ontario landlords can raise the rent by a maximum of 1.8% in 2018.
This maximum cap applies if you are going to raise the rent from January 1, 2018 to December 31, 2018.
How Does The Compare To Previous Years?
Ontario landlords can raise the rent up to 1.5% in 2017.
What If You Need To Raise The Rent At a Higher Rate To Cover Costs?
To do this you will have to go through the Landlord and Tenant Board process.
Many OLA members in the Ontario Landlords Association forum have shared their experiences regarding this process.
While some have succeeded, the consensus is that it is a complicated process and policies don’t have a true understanding of the real life financial challenges small residential landlords face.
What If You Face Higher Utility Costs?
Furthermore, with new rules for Ontario landlords coming this year you cannot apply to raise rents beyond the guideline for skyrocketing utility costs. This is one of the reasons more and more small landlords are not renting out inclusive of utilities.
Aren’t Newer Properties Exempt from Rent Control?
A lot of recent rental stock in Ontario has been created by small landlords investing in newer property such as condos. A common question these days in the Ontario Landlords Association forums is about rent control for new rental properties.
For example an Ottawa landlord wrote: “My rental property was built after 1991. Does this mean I don’t have to follow the government rent increase guideline or not?”
In years past, you were exempted but not anymore.
Previously rent control only covered rental properties that were built prior to November, 1991. This exemption was a strategic decision made to encourage the creation of new rental buildings in the Ontario.
Things have changed this year with the Rental Fairness Act 2017. These new rules mean rent control has been extended to cover rental properties that were built prior to November, 1991.
The Guideline of 1.8% Is Too Low For Me To Keep Up With My Rising Costs
This is a common statement by OLA members.
The Ontario Landlords Association has lobbied for change in how the annual rent increase guideline is calculated. The guideline needs to put far greater weight on the price increases of good and services that impact small landlords.
After all, it costs money for good landlords to run safe, well-maintained rental properties.
Some OLA members suggest a good solution would be for the Ontario guideline to copy what BC landlords have. In British Columbia the guideline is the rate of inflation based on the consumer price index plus 2% (to account for the extra types of costs landlords have).
Landlords Can Raise The Rent 1.8% in 2018
With the importance of owning safe, well-maintained properties and costs rising it’s important for landlords to raise rents annually. We are faced with a very low cap on how much we can raise rents which creates even greater challenges for landlords.
It’s time for the the rent increase guideline to be changed to meet the real needs of residential landlords and to help us improve the quality of the rental stock in Ontario.
It’s time to stop bashing landlords and start working with us to help improve the entire rental industry. This will benefit both good landlords and good tenants.
Ontario Landlords – How To Attract Good Tenants
Wednesday, October 1st, 2014
Great Tenants Want to Rent Attractive Properties. Here’s A Way To Get Tenants To Want to Rent Your Rental Property!
Ontario landlords know the importance of renting to good tenants.
This means landlords need to screen applicants carefully before handing over the keys to their rental unit.
Experienced Ontario landlords know careful tenant screening should also include an Ontario landlord credit check on all potential renters.
How Can I Find Good Tenants?
In order to rent to good tenants you need to be able to attract them to your property and they need to want to rent from you.
This means you need to have a well-maintained and high quality property.
How Can I Make My Rental Property More Attractive For Good Tenants?
A recent post at the Ontario Landlords Forum from a Toronto landlord asked how to improve curb appeal.
Here’s the post:
“I have a multiplex in Toronto that I put a lot of time and money into to make the inside very attractive. I’m in an area where this is a lot of competition for qualified tenants… The problem is the outside of the property isn’t appealing and it turns off a lot of good potential tenant from even wanting to view the inside of the rental. How can I improve the curb appeal of the property without spending a fortune?”
Improve Your Rental Property By Planting Trees and Shrubs
An Alberta landlord replied with the advice of planting trees and shrubs to improve curb appeal. This landlord said after adding some leafy shrubs and a few trees her rental property attracted a lot more applications from interested tenants.
A BC Landlord echoed the opinion and stated that the trees near his rental has attracted a lot of great tenants.
Fortunately, for landlords in Toronto and the GTA planting trees and shrubs is a terrific and affordable options thanks to a program called LEAF.
LEAF – Local Enhancement & Appreciation of Forests
LEAF is a non-profit organization that has been offering a subsidized tree planting program in York Region for the past 18 years.
LEAF offers a full-service planting program to help multi-units in Toronto and York Region plant trees and shrubs on the private property around buildings. This includes a consultation and site assessment with one of our expert arborists and full planting service.
Melissa Williams, Acting Program Manager for LEAF
The Ontario Landlords Association interviewed Melissa Williams for more information on the LEAF program.
We thank Melissa for her enthusiasm to help landlords know about the program and how it can help landlords create attractive rental properties.
1. Could you tell us how your program can help residential landlords?
LEAF offers a full-service planting program to help multi-units in Toronto and York Region plant trees and shrubs on the private property around buildings at affordable rates. This includes a consultation and site assessment with one of our expert arborists and full planting service. LEAF is a non-profit organization that receives funding to offer this subsidized program for private property plantings.
Trees and shrubs increase the aesthetic value of your property which in turn can increase property value by as much as 30%! Trees also reduce air and noise pollution, lower summer air temperatures and provide much-needed shade.
2. Are all landlords in Toronto and York Region eligible for this?
All residential landlords in Toronto and York Region are eligible for the program.
3. We have lots of members all over Ontario.
Can Mississauga landlords and Ottawa landlords access the program?
At present time we only offer the program in Toronto and York Region. We would recommend that landlords in other cities check with their local municipality or conservation authority to see if similar programs are offered in their area.
4. What happens during the consultation/assessment of the property?
During the consultation, a LEAF arborist will assess the site conditions such as soil type, sun exposure and spacing restrictions, and speak with you about what your preferences are in terms of trees and shrubs for the property.
The arborist will then recommend suitable native species that will do well on your property, and determine planting locations with you as well. We would then come back and plant the trees and shrubs for you in either our spring (April-June) or fall (September-November) planting season.
5. What are the costs involved for the landlord and what does this include?
The cost for the program ranges from $150-$220 per tree, depending on the species selected. This price includes a site consultation with an arborist, a 5-8 foot tall tree, and delivery and planting service.
The full value of this service is approximately $300-$400, and the difference is paid by our funding partners. Native shrubs can also be purchased for $25 each.
6. How can landlords interested in this opportunity get started?
We recommend visiting our website at www.yourleaf.org/multi-units-and-businesses to learn more about how the program works and to fill out our application form. We can also be reached by email at info@yourleaf.org
Make Your Toronto or York Region Rental Property Look Good!
Toronto and GTA landlords can take advantage of this program to make your rental property more attractive to renters.
Whether you are landlord in Toronto or cities in the GTA make your rental property sparkle and attract good tenants.