Landlord Tenant Compensation to End Lease

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Landlord Tenant Compensation to End Lease

Landlord Tenant Compensation to End Lease

Landlord Tenant Compensation to End Lease – New Rental Rules 2017

Landlord tenant compensation is a new rule that came into effect last Friday.

Landlords to Pay Tenants One Month Rent in Compensation

Ontario tenants will now have additional protection from eviction. When a landlord ends a tenancy to have family members move in, people being evicted must receive compensation. Landlords will have to pay one month’s rent to the evicted tenant or offer him or her another comparable rental unit.

“When a tenant is evicted through no fault of their own, they are forced to scramble to find new accommodations and cover the costs of a sudden move,” Housing Minister Peter Milczyn said in a statement.

There will also be a new measure in place to ensure that when an apartment is vacated on the pretext of family moving in, it is NOT rented out to someone else in less than one year period.

“If the landlord advertises, re-rents or demolishes/converts the unit within one year, she or he will be considered to have acted in bad faith, unless they can prove otherwise and could face a fine of up to $25,000″, the government says.

“The new measures will help protect tenants by discouraging landlords from unlawfully evicting them, whether for conversion of the unit into a short-term rental or immediately re-renting it at a higher rate.”

These changes are part of sweeping Ontario rental rules for tenant-protection imposed this year. Residential rent increases are capped at 1.8% next year unless landlords apply to housing authorities for more. But those who renovate their units can apply to the Landlord and Tenant Board for increases based on the amount of money spent on improvements.

In all, there are about 1.2 million private rental units in Ontario.

Looking to rent in Mississauga? Check out the latest rental listings in Mississauga.

By | 2017-09-08T01:17:04+00:00 September 8th, 2017|Categories: Condos, Renting, Square One Condos|Tags: , , |Comments Off on Landlord Tenant Compensation to End Lease

About the Author:

Amit Kalia
Amit is a full time local REALTOR® since 2003. Currently he is with RE/MAX Real Estate Brokerage Inc. in Mississauga. RE/MAX is Canada's #1 real estate company. He is supported by a very strong Sales and Marketing team. Together with his team, Amit has been serving property sellers, first time buyers, real estate investors, landlords, renters, new immigrants to Canada and non-residents. Amit and his team specialize in Square One condos and also work in many other Mississauga neighbourhoods. Team Amit Kalia offers a 30 Days Sold Guarantee to Sellers. Amit's team also provides exclusive A La Carte property management services for their investor clients and landlords.