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Ottawa Landlords – You Can Raise The Rent 1.8% in 2018 (And There Are New Rules You Need To Know About!)

January 1st, 2018 · No Comments · landord credit checks, Latest News, Ontario Landlords Association, rent increase 2018, Tenant screening

Ottawa landlords rent increase 2018

Rent Increase Guideline: How Much Can Ottawa Landlords Raise the Rent in 2018?

Many Ottawa landlords are excited about our prospects in 2018. After all the economy is growing and there are lots of good tenants out there (just make sure you screen carefully to find all the good ones and avoid the pros!)  Ottawa landlords and property investors in the surrounding regions are hard working and optimistic.

Experienced Ottawa landlords also know we face many challenges this year.

1. There are Bad Tenants Out There Who Can Cost You Thousands of Dollars

There are lots of great tenants out there in 2018. These are tenants who pay the rent on time and respect you and your rental property. However, the harsh reality is you have to be careful you rent to and have to put your head in charge and not your heart when it comes to tenant screening.

Landlord Nitan Mehra owns a duplex that he describes as one of the cutest apartments you will find. He worked tirelessly and made a big investment to make it awesome with new appliances. He didn’t do his own careful tenant screening and now finds himself out thousands with a rental that is overrun by maggots, mould and feces.

He trusted others to find his tenants for him and after seven months this is how he found his super cute rental with new appliances. Get ready to be shocked because what happened was horrible…and it could happen to you.

Someone Didn’t Take The Garbage Out According to the Lease

Ottawa landlords bad tenants 2018 1

The Clean and Modern Bathroom Has Seen Better Days

Ottawa landlords bad tenants 2018 2

The New Appliances Don’t Look So New Anymore

Ottawa landlords bad tenants 2018 3

The New Fridge Wasn’t Treated Well

Ottawa landlords bad tenants 2018 4

You have to make sure to always take control of your own tenant screening. Many people can make many promises but at the end of the day it is your financial future at stake. Renting a good tenant can mean years of rent paid and your a wonderful business relationship. Remember: it’s your rental property and you take to take control of it.

2. Marijuana in Rentals

ontario landlords tenants plants marijuana grow op

This is potentially a huge issue for landlords. The federal government is planning on making marijuana and bringing in plants legal and this will impact small landlords!

3. New Rules That Make Things Harder On Small Landlords And Protecting Bad Tenants

ola it's not fair

Not only will we have to face the marijuana issue, we faces lots of other changes. For example, we will no longer be able to go raise rent beyond the annual guideline for power usage. The new rules for Ontario Landlords are not fair.

On the OLA forum a BC landlord was amazed that Ontario landlords can’t even charge a simple damage deposit or pet deposit. This BC landlord from Surrey wondered how landlords here could survive and why there wasn’t a mass protest of changes.

Ontario Rent Increase Guideline 2018

So how much can Toronto Landlords raise the rent in 2018? Go check out the Ontario Landlords Association page which is a grassroots group of experienced landlords who are working hard to make changes.

To:        Ontario Landlords Association

From:   Housing Policy Branch, Ministry of Municipal Affairs and Housing

For OLA Members,

The 2018 annual rent increase guideline 1.8%

Please find links to the increase, which are available in both English and French at the Ministry website. If you have any questions about the increase please contact us.

Thank you,

Housing Policy Branch, Ministry of Housing

Am I Covered By the Rent Increase Guideline?

Previously new rentals were exempt from the guideline. However the rules changed in 2017 and now newer rentals are also under the rent increase guideline.

Many new condo owners will be unhappy to find out they are covered and can raise the rent only 1.8%.

Does a 1.8% Rent Increase Cover Your Rising Landlord Costs?

Many landlords says no.  They have told us the rent increase guideline simply isn’t high enough for them to cover their ever increasing costs of doing business. Many experienced landlords say the way the province calculated the annual rent guideline is out of whack and doesn’t really look at true landlord expenses.

Ottawa Landlords Can Raise the Rent by 1.8% in 2018 as this is the Rent Increase Guideline. Does this cover your costs?  We recommend you raise the rent this year because the guideline next year might even be………..lower!

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