Thinking About Renting Your Basement?

The Toronto rental market is very strong and, if you don’t really need the living space in your basement, the idea of pulling in an extra $1,000/month or more in rent can be very appealing. Before you embark on renovations to convert your basement into an apartment, however, here are some things you should bear… Read More

Rent Control Loophole Blamed For Rising Condo Rents

The Ontario government needs to close a loophole that has created a “two-tiered system of renters” — an increasing number of them in new downtown condos where some landlords are jacking up rents as a form of economic eviction, says the head of the Federation of Metro Tenants’ Associations. The federation has had numerous calls… Read More

No-Pet Clauses in Leases Not Legal

No Pet Clauses in Leases

Under the law, you can’t prevent a tenant from bringing a pet into your property, unless it is a condominium and the building declaration says no pets. So even if a landlord and tenant sign a lease that says no pets, the tenant can bring 2 dogs and 4 cats the next day and there… Read More

The Pros and Cons of Rent To Own

Rent Control Loophole

The changes to the mortgage rules announced by Finance Minister Jim Flaherty last July are making it more difficult for first time buyers to get approved for a mortgage. Other buyers may have good credit but not enough of a down payment. At the same time, landlords are looking for good tenants to rent their… Read More

A Good Time To Buy Income Properties

A Good Time to Buy Income Properties

If the real estate market is headed for a correction, then it presents a historic opportunity for buyers of investment properties. The main reason is that interest rates should continue to remain at historic low levels, even as prices fall. The key thing to remember is that the property must have positive cash flow. Click… Read More

How To Manage Damage In A Rental Unit

Steven from Toronto writes: “I successfully evicted a tenant on September 5, 2012 at 8:40 AM by Sheriff but they destroyed the apartment. They broke the bathroom sink, the toilet, the doors, windows, light switches, put peanut butter everywhere, put ketchup on the ceilings, walls, everything they could break they did break. They even poured… Read More

Some Rental Clauses Aren’t Legal

Some Rental Clauses Aren't Legal

As the new school year begins, students and landlords are signing leases. There are lots of clauses put into them, but just because something is written into a lease, doesn’t make it legal.  Here are some examples: First and last months’ rent: The most a landlord can ask from a tenant is the first and… Read More

Renters’ Market For Condos?

Condo Buildings

In a recent article in the Toronto Star’s Moneyville section, real estate lawyer/author Mark Weisleder says that we will soon see a renters’ market in condos. With so many condo projects coming to completion, he says that the investors who bought them may have no choice but to rent them out as they may be… Read More

How To Avoid A Tenant From Hell

How to Avoid a Tenant from Hell

A recent Toronto Star story exposed a problem tenant who was successful in abusing the Ontario landlord and tenant process to avoid paying rent. It can take landlords up to nine months to evict these types of ‘professional’ tenants. However, it would be wrong to paint all tenants with the same brush. Over 95 per… Read More

Bidding Wars Erupt in Rental Market

Bidding Wars Erupt in Rental Market

The market for rental condos is becoming almost as hot as Toronto’s resale housing market with bidding wars breaking out among tenants trying to snag prime units. While some 21,000 units are now under construction in Toronto — 5,707 of them in the downtown core — demand for rental condominiums continues to far outstrip supply,… Read More