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All Forum Posts by: Paul Z.

Paul Z. has started 31 posts and replied 65 times.

Originally posted by @Hai Loc:

@Paul Zhang

You in GTA?

I think it's pointless to hurt their credit during this crisis. It wont even motivate them to pay.

 Not in GTA.

Yeah I can see some tenants not care. For others it may help motivate them to keep the rent current just by mentioning this possibility to them. Not sure how to do the credit reporting though...

Originally posted by @Stephanie Beaulac:

Another thought, I wonder if you purchase a new property now, will you be able to defer that mortgage too? If so, could be a great time to do a flip. No holding costs for 6 months 🤑 

I like that creative thought! Based on what I've read, the banks will only do it on a case-by-case basis. But I suppose it is possible.

Hi fellow Ontario landlords :)

Yes I am worried. I am in between tenants and am even considering leaving the house vacant.

To collect overdue rent, I believe in normal times you would serve them the appropriate form, and then file for eviction after 14 days. But it will be hard in times like this. Eventually they have to catch up though, because the virus will be over.

By the way, is there a way we as landlords can report late rent payments to credit bureaus?

Thanks for sharing your experience so we can all learn from it.

I wonder how she did not get another eviction in 6.5 years...

Agree on all adults on the lease. I would also make tenants find a guarantor who will sign a guarantor form, if possible. It could be a relative that lives in the same area that has a good job. A former tenant of mine wanted to end the lease early. I called the guarantor who helped find a mutually acceptable solution.

I also think you should evict. I feel bad for the tenants, but it sounds like they will owe you rent regardless of the coronavirus. It's their problem and they need to deal with it.

I have also heard of tenants paying up after they receive eviction papers.

Hi everyone.

I have a rental house which is vacant. A relative has suggested me to pause showings to reduce my close contact with strangers, and avoid letting them touch things around the house. I can afford the mortgage payments if the house stays vacant.

I have thought of hiring a realtor to do the showings, but I prefer to meet and screen the tenants myself.

What do you suggest, and are fellow landlords cancelling showings?

Cheers,

Paul

I found this thread because I have a couple that want to rent a house from me. They each have 2 teenage boys from previous relationships, a total of 4. The boys only stay in the house part-time. As a concerned landlord, I find the advice in this thread very helpful. I will make sure to check previous landlords' references, try to observe how messy their cars are, and maybe even visit their current homes.

From personal experience, I agree with how important parenting is when it comes to teenagers' behavior. I had a tenant with an 11-year old boy. The parents were clean and organized, and no issues were found during final inspection. On the other hand, I had a 19-year old woman live in my house, who allegedly did not have good parents. She managed to tear off a bed leg, scratched the paint, loosened a towel rack, broke a toilet flush button, and the list goes on... She also had a boyfriend stay overnight for more than half the time (which is an issue on its own), but the boyfriend might have contributed to the damages as well.

Hi everyone.

I have a townhouse which I prefer to rent to families. However, 2 recent university grads (both female) want to rent it together. Would you rent it to them? Some potential problems in my opinion:

- 2 tenants on the lease which complicates the agreement

- May have overnight guests whom I would not want to stay

- May sub-lease the extra bedroom to people who I do not approve of

- If only one moves out, I cannot rent the whole house to a family. Finding individual tenants to fill each bedroom seems like a lot of work

- May have parties

What do you think?

Cheers,

Paul

Thanks for the advice everyone! I will definitely do the final inspection after the tenant moves out.

My tenants seem good, so I hope there are no damages. In Ontario Canada where I live, landlords cannot collect damage deposits, and cannot use the last month's rent deposit as damage deposit. If there are damages and the landlord discovers them after the lease ends, he would have to find the tenant's new address, and then sue him/her in small claims court. Sounds like it will be difficult if there are damages... Out of curiosity, does anyone have experience dealing with such tenant-favorite jurisdictions? What is your advice in such jurisdictions?

Cheers,

Paul