In our most recent blog posts, we have been dedicating time to teaching each responsible party about the obligations and rights they have as tenants and landlords.  In our last blog, we talked about the rights a landlord has when in a rental agreement with a tenant.  Here are some more of the rights landlords hold.

Entry Of The Unitkey

  • You may enter the property to complete maintenance and repairs.
  • You must inform the tenant with 24 hours notice, unless it is an emergency.

Raising Rent

  • As a landlord, you have a right to raise the rent in order to gain more profit from your property.
  • You cannot increase rent more than once in a 12 month period.
  • You must give your tenant a 90 day written notice.
  • If your current tenant refuses to pay the new rental rate, you can look for a new tenant that will, ensuring you follow the proper procedures through the Landlord and Tenant Board in order to do so.

Inclusive Rent

  • As a landlord, you can choose to rent your property as inclusive or non inclusive.
  • Inclusive rent may include utilities such as gas, hydro, and water and amenities such as parking and laundry.
  • You do not have to include any of these services.
  • It’s helpful to offer some inclusions in order to remain a competitive property in the rental market.

If you’re someone looking to get into the rental property market, but aren’t quite sure where to begin, we recommend doing some research as to what your rights are, and what tenant’s rights are as well.  The best way to conduct property management is by going through a property management company in Toronto.  They can help you in all aspects of managing the property, including maintaining and advertising it.  Talk to the professionals at Bridgeway Property Management for more information.