July 22, 2020 10:00 A.M. | Ministry of Municipal Affairs and Housing
To provide Ontario the stability to rental market, the government created legislative changes, which are included in the Protecting Tenants and Strengthening Community Housing Act, to increase fines for unlawful evictions and reinforcing the necessity for landlords to explore repayment agreements before considering eviction.
“We know tenants and landlords have struggled during COVID-19, and some households may be facing eviction due to unpaid rent during this crisis,” said Steve Clark, Minister of Municipal Affairs and Housing. “By making these changes we are trying to keep people in their homes, and at the same time, helping landlords receive payment through a mutual repayment agreement. It’s a better approach, especially during these difficult times.”
The resolutions on disputes between the tenants and landlords will be easier with the updates made on Residential Tenancies Act, 2006 and Housing Services Act, 2011 which protects the tenants from unlawful evictions.
What does this mean?
This article is fascinating, even enlightening, but you may have no idea what to do with the information it provides.
Itâ€™s dangerous to load up on knowledge and move without the practical wisdom to act.
Every week, our coaches post real estate insights and stories from the streets. They unpack real deals, breaking down the numbers, and highlight trends that their clients are making money off of.
Their wisdom is freely available to you right here.
Sign up for the iWIN Real Estate Newsletter now so you never miss the practical wisdom we are already sending to thousands of investors in Ontario.