Tuesday, April 21, 2009

Ontario Residential Tenancy Act is lame

Ontario investors saw their 150-year-old investment property trashed by unscrupulous tenants. Animal carcasses, toilets rigged to run continuously, a mountain of garbage and an incredible mess are the legacy left behind. Unfortunately, it took 14 months to get the tenants out, by that time they had all but destroyed the beautifully renovated and furnished property.

Lucky for us Alberta has this country's most owner-friend tenancy act. You can get good-for-nothing tenants out in much more quickly than 14 months.

The thing to learn from this is to diligently screen your tenants and keep checking up on the property. Do whatever it takes, within the law, but make sure you or your property manager gets into the house every once in a while to make sure there is nothing going awry.

What a shame.

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