All Forum Posts by: Leandro Zhao

My parents had long term rentals, on stayed in the house 23 years and the other I think it was 40 years.  When my parents passed and I had to sell the houses to spilt with 11 heirs, one left willingly.  They had 8 years to buy the houses and knew when my mom passed they would have to be sold.  The other pulled every 'poor me' tactic in the book to stay.  They were appointed an advisor and advocate to try to force me to let them stay longer.  They tried to force an ADA accommodation to let them stay longer.  Basically they wanted the way under market rent as long as they could have it.  They tried the media--poor old folks being forced out by greedy heirs.  They wanted us to sell the house with them in it, but I wanted to fix it up and get what it was worth.  After 40 years it was way to cluttered to sell, plus 4 adults and grandkids in a 3 bedroom 1 bath house, 900 square feet, it was fully packed.

So, long story, but a problem with long term tenants is they don't always leave willingly, even with months of notice.  And sometimes they are so accustomed to the low, low, low rent that they can not find anything nearly similar for the amount they can afford.

Oh, and sometimes their deposits are so low they are sadly inadequate.  ONE OF MY MOM"S WAS $25 and the other was $50.

Thanks for sharing, I did not know that this is happening. I'll will look more about this topic.

 I guess you don't know what happening in Toronto. Rental increase is capped at 2% annually. What landlords are trying to do is called renoviction to force tenants out so they can get a new tenant/lease at a much higher lease amount.. Not encouraging you to do that  but that's what's happening  

It really depends on how the previous landlord manage the property... I have bought property with long term tenants and had to inform them to move due to low rent and not caring for the property which is due to the lack of landlord involvement. I know other people that took over long term tenants and had great experience but i do know the previous landlord was very involved. If you know the rents are low...just automatically assume they are going to leave when you come in and charge the higher rent.

How many of you would be interested in a meet and greet? I am excellent at event planning, coordinating and execution but I need to know numbers to choose a proper venue.

Give this post a shout with your location!

Greater Toronto Area, Hamilton, Guelph, Kitchener, Waterloo, London, Woodstock, Brantford, Cambridge