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All Forum Posts by: Matt C.

Matt C. has started 2 posts and replied 4 times.

Post: Why you SHOULD allow animals

Matt C.Posted
  • Investor
  • Ontario, Canada
  • Posts 4
  • Votes 7

@Rachel C. First off, thanks for going through the super long read.

You can tell I have been through pet hell - as recently as March 2020 with cat pee that went to the joists!! They were under the bed and not easily seen/smelt as the entire place had a bit of a funky smell! We had to remove/replace entire sections of good quality hardwood, refinish the rest of the hardwood that remained, stained it all to have consistency. It cost over $10,000. And that was because I knew the contractor and got a deal on the wood.

I would just like landlords to do the math:

Even if I could charge them (which I can’t) and did charge them $300 upfront non refundable, and $100 per month more. Even then, I would net $2700 (taxable income, mind you) over their 2 years with us. It would take me more than 4 such tenants/8 years just to break even on one bad experience. Not to mention I lost the rental revenue for the 1 month it took to fix the place that I couldn’t rent it out for.

To your point, spoke to some landlord lawyers and it’s really no go. What I mentioned in my long post is all there is to it. The tenants rule in Ontario... the best they can do is help with the LTB (government) and with eviction paperwork. Sigh.

One of the many reasons not to invest in residential rentals in Ontario!

Post: Why you SHOULD allow animals

Matt C.Posted
  • Investor
  • Ontario, Canada
  • Posts 4
  • Votes 7

I just read the entire thread and the article.

For me personally, I am in a fairly high demand area so don't get much from the benefits of opening up to pets.

I do have some observations though, but first a brief primer on Ontario, Canada pet related rules. Of course the standard caveat - not legal advice, do your own research, etc.

OK, the rules:

Ontario’s Residential Tenancies Act does not permit landlords to include “no pet” clauses in rental agreements. The only exception is if the property is a condominium and the condominium corporation’s declaration prohibits pets.

Interestingly, a landlord can refuse to rent to a person who has a pet (no discrimination clause), but a landlord cannot evict a tenant simply because they were unaware of a pet, or because the pet was adopted after the tenant moved in. A tenant can only be evicted if a pet is making too much noise, damaging the unit, causing an allergic reaction to others, or is considered to be inherently dangerous. Even then, in order for a landlord to take action, the landlord first must bring the issue to the attention of the tenant and the tenant has the ability to mitigate the issue. If there is damage done to the property, the tenant can opt to repair the damage. If the animal is disturbing neighbours, the tenant might prevent the animal from being outside and limit its exposure to neighbours, if the animal is upsetting a fellow tenant's allergies due to fur contaminating the communal laundry machine, the pet owner can do their laundry elsewhere. Only after all that is exhausted the landlord must apply to the LTB for an order terminating the tenancy before kicking people and pets out.

Also, a landlord is not allowed to charge a pet deposit. 
A landlord is allowed to ask for a last month’s rent deposit, as well as a key or pass card deposit, BUT the rent deposit must be applied to a tenant’s last month’s rent, and the key deposit must be given back to the tenant upon the return of keys. It is illegal for the landlord to use these deposits for anything else, such as to pay for damage caused to the unit by people or pets.

Further, most municipalities in Ontario have their own restrictions on the number of pets that can live in any individual home. In Toronto for example, no dwelling can house more than three dogs, or more than six cats.

SUMMARY - In Ontario, landlords cant do much about pets after the place is rented. Even if you asked and they lied on their application that they dont have any pets, you cant evict them for a fraudulent application. 

This means the news is not good for Ontario landlords:

1. While allowing pets on the lease just makes life easier as, hopefully, they are truthful and upfront and not hide and bring them in later since I cant do much at that point, I cant force them to pay more. I might reason with them the additional risk I am taking and quote them a higher monthly fee, but its iffy.

2. I cannot force them for any animal/pet deposits or advances, similar to NYS it seems like. Similar to above, I can however ask them for an animal fee, and might reason with them for one but cant force them to pay one

3. I CAN and DO ask for tenants insurance, but am yet to find any policy that has pet related damages to my property covered in that.

4. I can't restrict the animal type, unless the city by-law allows me to. I am yet to find a by-law that prevents any cat breeds - and they are the worst.

So, basically, all that I can do is regular inspections to check for damage.. SIGH.

Oh and you cant do "too many" inspections either -- apparently even doing more than once a quarter may jeopardize the tenant's "right to quiet enjoyment of the rental premises".

And Lets not even go into how difficult it is to evict someone even if there is damage, and even more difficult is to get them to pay for damages.

If people have ideas, I am all for it!

Post: Objections and questions in money lending in these times (2020)

Matt C.Posted
  • Investor
  • Ontario, Canada
  • Posts 4
  • Votes 7

Hello BP fam,

I am preparing for a private money lender meeting to get some funding. I want you to be my sounding board.

All you have to do is give me your best/toughest questions that you want answered before you give me money!

Eg. Matt, what if the market goes down?

What if you can’t complete the project in time?

Make ‘em tough. And if you have potential solutions, even better.

Post: Canadian trying to get a Texas, Arizona, or US RE agent license

Matt C.Posted
  • Investor
  • Ontario, Canada
  • Posts 4
  • Votes 7

Does anyone know how a Canadian citizen/resident can remotely get a Texas, Arizona, or other US state RE agent license?

Also, which national brokerages have the best training programs?

THANKS!