As the market for rentals continues to be hot, it’s important that everyone involved in the rental market is aware of some important aspects regarding rental properties. One of the most important aspects to a rental agreement is the cooperation between the landlord and tenant. It’s most ideal when both parties are aware of their rights and responsibilities, so that the contract can be upheld to the best of each party’s ability. Here are the rights that a landlord has in a rental agreement.
Choosing A Tenant
- As a landlord, it is up to your discretion as far as who you choose to be your tenant, but you cannot discriminate against a potential tenant for a variety of reasons. With that said, you have the right to deny or approve an applicant based on:
- Rental History
- As a landlord, you have the right to collect a last month’s rent deposit from your tenant. You can only charge as much as the rent costs for one month as a deposit.
- You’re entitled to rent payment on time.
- You can increase the rent in a 12 month period.
- You can evict your tenant for legitimate reasons as set out by the Landlord and Tenant Board, ensuring you follow the proper procedures in doing so.
As a landlord, you have a wide range of rights to your property. However, it is important that you understand that your rights come with responsibility in many different aspects of the property. You can best uphold your contractual agreement by hiring a property management company in Toronto, to allow them to oversee your property for you. If you’re interested in the services of a property manager, please contact Bridgeway Property Management in Toronto today.