Eviction for renovation, increasing bedrooms

[Matt Geerts]

I understand that I can give 4-month notice of eviction for renovations that would render the property "unsafe" (ie, electrical or water cut off for extended period, etc). However, the RTA allows the tenants to move back in at the same rent, then I can apply for a limited increase in rent from the LTB.

My intention is to increase the number of bedrooms in the unit from 2 to 4, so the amount of rent that I could get from it is a massive increase compared to what the LTB will allow. It is currently $650, but could fetch $1200. The LTB will allow me to crank it up to about $680 :\ leaving me with a joke of an ROI.

How can I do this safely and not pour money into a house that will never give me returns? The tenants love living there (been there three years) and would absolutely want to move back. I feel that they'd be highly unlikely to sign an N11 to vacate willingly. With the extremely low vacancy in the town, I expect that it would take a MAJOR cash for keys incentive that may put yet another damper on the ROI.

I'll try my best not to complain about the RTA and LTB in this thread. How can I safely get these people out so I can get a good return on investing in this property?