General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated over 8 years ago,
Ontario Tenant Moveout Notice & screening questions
We're new to the landlord thing and I've just had my tenant put in his notice. Both his lease and the law state that he must give 60 days notice, however, he has only given 30 days notice. He was the previous owner's tenant, so he only paid a $250 security deposit when he moved in. For his June rent, he's just given me his rent minus the $250. I want to do something, but I'm not really sure that there is anything I can do besides try my best to get a good tenant in there quickly. I've thought about giving him an N4 or something, but is there really a point? By the time anything happens, he'll be long gone. Thoughts?
My second question is to do with tenant screening. Our property is in St. Thomas, Ontario, which is a smaller town, but is very blue collar and tends to have a lot of lower income renters. A lot of the posts on here say that a good screen is that the prospective tenant should have 3x the rent as their monthly income and that you should just state that in your ad to weed out people who don't qualify. I really want to do this because it makes sense financially, but is there ever a time when you shouldn't do that? Since I've added that to my add, I've had zero responses (however, I'm not being very patient). Does anyone have experience in nicer places located in lower income areas?