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In a step to support renters with rent stability and some measure of protection for rental rights, the province of Ontario has officially passed new rental legislation on May 18, 2017. The Rental Fairness Act, 2017, resolves significant issues that renters have been battling.
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Many of the world's most powerful landlords are meeting for the Refugee and Migration Summit. Heads of state from all over the world, including our own Prime Minister Trudeau, will discuss the fate of more than 21.3 million refugees -- more than any time since the Second World War.
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It's interesting to note that as we're seeing record-high prices and pricing increases in the buying and selling of residential real estate, we didn't see a translation of that to the maximum rent increase allowable. Instead we saw something towards the middle of the possible 2.5 per cent.
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While some associations feel that the Ontario Residential Tenancies Act currently favours tenants (although associations representing tenants will disagree), there are proposed changes being debated that could shift the power back into the hands of the landlord.
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To be frank, I never anticipated the repeated rejection I'd face while looking for a place to rent. I thought my boyfriend and I were a shoo-in. Our combined income is likely more than one individual seeking a one-bedroom unit, we're in our late twenties, full-time jobs, good credit -- why wouldn't a landlord want to accept my offer? It turns out, there are plenty of reasons why, and we saw them all.
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Pot dispensaries, cannabis cafes, medical marijuana clinics, smoke shops, vapour lounges -- cannabis culture has gained a foothold in Toronto. Some neighbourhoods have had little to no infiltration, but many have had a staggering number of pot dispensaries open along the main street, out in the open.
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Where do you put an entire city when a wildfire displaces 88,000+ residents? Alberta has seen more than its fair share of disaster in the past few years, but this is a tragedy of epic proportions and the whole country is looking on, helplessly, trying to figure out what they can do to for the people of Fort McMurray.
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The famous saying "the devil's in the details" is really no joke, and hiding in the shadows of accountability, legal documentation and paper trails is how scammers and con artists trick unsuspecting renters into blowing thousands of dollars on non-existent rental units. Don't let yourself be a victim.
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On the surface it seems like a fabulous idea: Carve out a portion of your home, rent it out and use the rental income to pay your mortgage. You get to live basically "rent free" while at the same time reaping the tax benefits of writing off some of the costs associated with accommodating a rental apartment in your home.
In 2007, Ontario froze 51 Taylor Avenue in Chatham, Ontario under the Civil Remedies Act, the law that strong-arms unwilling landlords into becoming law enforcement agents. The province alleged the building was an "instrument of unlawful activity." In 2012, a judge ruled that the property owners would forfeit the property permanently to the province.
Human tenants can just as easily ruin walls by putting nails in them, or allowing kids to draw on them. They can ruin carpets by walking around in muddy shoes in-house -- and by a multitude of other more creative ways. Arguably, some pets are better than their human counterparts. In fact, many pets are perfect citizens with impeccable manners. Some are not.
Buying a property to rent out is a great idea. The theory is that you find a tenant to rent it out to and let them pay down the mortgage while you sit back and build equity. Here are some tips to avoid the typical pitfalls most people face when renting our their property!