The laws around renting a property are often changing and adapting to the times. It can seem daunting, but it's important for a landlord to stay updated.
What is the best lease term?
Since Bill 124 came around, the recommended lease term length has changed. Lease terms used to mean more of a commitment between landlord and tenant. Since the change in policy, having a longer lease term means you can't evict the tenant for things like persistent late payment of rent. There are still some ways that you can work with things like rent discounts to make lease terms mean something again. Overall, your average month-to-month lease is your best option, as it doesn't restrict the landlord as much.
What can be done about cannabis use?
New cannabis laws are coming to Ontario, and there are a few things landlords can do to prepare their properties. Landlords have always been able to enforce a no smoking rule on their properties, and this can be enforced for any kind of smoking, cannabis included. You are also able to dictate what tenants can grow or distribute in your property. It is important to ensure you do this correctly and legally but being loud and clear in the very beginning. If you did not specify these rules in your lease, it will be very difficult to enforce anything.
What if a potential tenant is new to Canada and doesn't have any credit?
This happens quite often with students, as they are not always looking to work and don't have credit, or have credit from another country that is difficult to access. In these situations, you can work with tenants to do things like prepayment on rent, but the tenant has to be the one to make this offer to you. You can not ask for prepayments of rent, but if the tenant offers it you can say yes. If they do offer this to you, it's important to be very careful how you word it in your lease agreement.
Please contact us with any further questions.