Reddit is up in arms about this new Bill that passed. I don't think it's a major change, just allows for landlords to send people packing quicker for non-payment (which I agree with).
My buddy has a 3-plex in Niagara that he bought last year. All was good until tenant got divorced. Guy hasn't paid a dime in 4 months because 'I can't afford the rent + alimony payments to his divorced wife.
Fun times...
That's what bothers me. HE made a bad decision and the landlord takes the hit. The guy should have married someone that made more than him and he would collect alimony. Or he should have taken better care of her.
Socialism has let people stop thinking and destroyed the work ethic.
If a large company with 10,000 rental units has a 100 deadbeats their income goes down 1%. They will survive.
If a mom and pop has one rental unit, a basement apartment or maybe they decided to keep mom's house now that she's gone. Maybe mom has dementia and the rental income pays for her long term care. LTD doesn't care and the loss of income is 100%.
BTW one troubled townhouse complex I serviced cost the corporation $10,000 every time a tenant moved out. Drywall was punched out, doors ripped of cabinets, fixtures broken. The problem was so common they started putting plywood up under the drywall.
Let's change the LTB to being a broker. Landlords pay a percent or two to LTB and the LTB guarantees the landlords rental income during a dispute. Rental increases above COL not covered.
We do need reasonable cost housing for people starting out.
Start by teaching cost of living facts in high school.
Major cities have outgrown 1970 economics. $30 for a weeks groceries, $3000 for a new car and $30,000 for a house.
Why can't our well paid MPs and MPPs come up with long term solutions instead of doing a chicken dance when an election comes along.
toronto.citynews.ca
