It’s Time For A Legal Damage Deposit for Ontario Landlords
Being a landlord who rents to students has advantages.
What type of advantages?
Most student tenants have youthful optimism and are busy studying to get high grades, finding part time jobs and (with hormones raging) concentrating on their social lives.
This use of time and energy usually means they are far too try to use the Residential Tenancy Act and the Landlord and Tenant Board as a weapon to intimidate or get money from their landlord.
So you can avoid the troubles many small residential landlords are facing in Ontario.
In case you are wondering about some of the challenges Ontario Landlords face renting to the general public here’s only a few from the Ontario Landlords Association site:
Sadly, the list goes on…and on….
What Are Some Of the Negatives Of Renting To Students?
While renting to students is usually a very rewarding experience, there are some things new investors should know about regarding the student tenant demographic. These issues were made clear recently in a story in the Barrie Advance.
Meet Anna Moore
Anna Moore is the president of Student Property Management.
She says that on August 31st of this year she cleaned out the forty or so properties she manages.
The total amount of garbage she cleaned out was…wait for it…
….over fifteen tonnes!
Yes, that’s right. Over fifteen tonnes of trash. Moore says many students simply leave without cleaning up.
According to Moore Barrie bylaw officers and the Police Service are taking garbage and other complaints against students and student housing very seriously.
She says Georgian College is also trying to educate students about their responsibilities when renting a property while attending school.
Barrie acting bylaw services manager Tammy Banting said the city most often receives complaints about noise, unkempt yards and parking issues, as cars block driveways or take over front lawns.
City staff work with residents and homeowners to help them comply with the rules and practices of being a good neighbour, she added.
Ontario Landlords Need To Be Able To Charge A Damage Deposit
Unlike other provinces, Ontario landlords cannot collect a damage deposit.
If we could charge a damage deposit don’t you think most of these students would make an effort to clean up? Most would.
By avoiding these horrendous clean ups not only would landlords save money (allowing them to not have to raise rents), but there would be a lot more people interested in investing in Ontario rental properties (creating more choice for tenants).
It’s time we follow other provinces such as British Columbia, Alberta, Manitoba, Saskatchewan, Nova Scotia, etc. to offer private landlords at least a bit of protection from tenants who decide to leave trash and damages when they leave.
To Discuss This And Other Barrie Landlord Issues Come Join the Discussion at the Barrie Landlord Forum.