Study the Laws When Renting to Students
The student rental market in Ontario is booming, with plenty of “risk and reward” opportunities for landlords and real estate developers. Postsecondary enrollment, including enrolment of foreign students, is at unprecedented levels with landlords and developers competing aggressively to meet the demand for specialized student accommodation.
Successful operators of student rental housing are able to meet the administrative and legal challenges of the student market by catering to the priorities of students, parents, and the health and safety concerns of the municipalities in which the housing is located. Regardless of the leasing and financing models in place, all such tenancies are strictly regulated under the provisions of the Residential Tenancies Act (RTA) and, particularly in the case of converted residential dwellings, provisions of municipal licensing bylaws and lodging house designations…
