Practically , how rent control act in Ontario affect Landlords

[Sam Hanaa]

I know ON and QC now are the most less friendly Provinces for landlords, can some landlords share their exprience? is it something to worry about ? and what is your exit strategy if after all the screening you got trapped with a bad tetant ?

[Jami Kloet]

It is not hard to find good tenants for multifamily buildings. Advertise well (don't be cheap, pay for top ad on Kijiji at least), do a comprehensive screening process, include a credit check (not a free one, pay for it) and ensure you're only renting to people who look really good on paper. Also, don't be a sleezy slumlord - have nice places to live and good tenants will show up. Price it a little high and have great service.

@Matt Geerts I don't know how to quote forum posts, but this is advice to live by as a landlord, and it's actually really simple. We've always operated this way, and have never had a tenant that we've placed move out on us in 8 years of being landlords. The only bad tenant we've ever had was inherited, and we were lucky to get her to move along within a couple months. However, we still maintained high standards and treated her with fairness and respect throughout the process as well.  

I am not familiar with Quebec market, but the more experience I gain as a landlord in Ontario, and the more I learn, I feel like I see opportunity everywhere. My only problem right now is that I feel like I don't have enough time and money to take on more than one project at a time.