ANNCR: I’m with Ben Charlebois from Cohen Highley, Ben what should people know before becoming a landlord?
BEN: Before becoming a landlord you should familiarize yourself with the Residential Tenancies Act or the RTA. Most residential leases in Ontario are governed by the RTA. The RTA is a powerful piece of legislation which sets out the rights and responsibilities of landlords and tenants, and it trumps all other legislation in Ontario aside from the Ontario Human Rights Code. And if your lease agreement has provisions which are inconsistent with the RTA, those provisions are not enforceable.
ANNCR: Can a landlord collect application fees or damage deposits?
BEN: No, landlords are not permitted to collect application fees or damage deposits. When a residential lease is signed, landlords are permitted to collect deposits for first and last months rent only.
