"DISRUPTING" THE ONTARIO STUDENT RENTAL MARKET - I'm Making $30,000/year (It's Easy And Legal!)
Student Tenants Can Bring In "Guests" Who Can Pay Rent To You Directly, And You Can Make A Fortune And There Is Nothing Your Landlord Can Do!
As an MBA student I’m using what I am learning in my everyday life. Hopefully this will help other hardworking students save money, and maybe even make some.
It’s also a way to make sure all the rent that is paid to your landlord can “work for you” to make money, like your money can “work for you” in the stock market or by investing.
Students Need To Be Smart To Survive
I'm in London, Ontario and the landlords here are mostly creepy as Hell.
So many are former students at the university or colleges here are middle aged ugly bald landlords who crave for their lost youth.
They found out their younger dreams didn't come true, they never got that successful career, and they now want to milk new tenants and make money by being parasite landlords to students who have limited choices and face high rents and crappy service.
While they spew lyrics from the Doors the reality is their balding heads and aging bodies can only survive by milking students.
Many students are on tight budgets. With student grants and loans being cut, it’s a nightmare for many students these days. And if you don’t get a degree it’s harder than ever to get a good job or start a career.
Student Housing Is Too Expensive
Too many vulture investors choose student housing because they know we need a place to live while we learn. These parasites want to milk us dry because they think “you have no where else to go”.
It's Time To "DISRUPT THE ONTARIO STUDENT HOUSING INDUSTRY"
This industry is archaic and has existed on the idea of: "student shut up and pay and get screwed while you study."
My goal is to "Disrupt the industry". And it can be done!
These landlords are charging high rents for crappy accommodations and things are just getting worse and worse. Since this is a race to the bottom, I'm going to get there first.
This Needs To Change And You Can Help Change It
Do you know you can have “guests” in Ontario and the landlord can’t evict them?
Can my landlord stop me from having guests, roommates or visitors?
THE LAW SAYS: NO!
As a tenant, is your residential landlord allowed to limit your guests, who lives with you, who stays over night?
Can your landlord charge a fee or extra rent or raise your rent if you have guests staying with you?
What if you specifically sign a lease, agreement, document, that very explicitly says you will be the only person living in the unit?
Can your landlord require that your guests, roommate, or visitor never be left alone in your apartment or on the residential complex?
No. No. No. No.
Ontario Standard Form Of Lease Makes Having Guests Legally 100% Clear!
Don't believe me? The standard form lease at section 15 highlights the illegality of prohibiting roommates, guests, etc. Everyone should now be using the Ontario Standard Form lease (because the law requires it).,
So what does the lease say at section 15? It says as follows:
Some examples of void and unenforceable terms include those that:
Do not allow pets (however, the landlord can require
the tenant to comply with condominium rules, which may prohibit certain pets),
Do not allow guests,roommates, any additional occupants,
Require the tenant to pay deposits, fees or penalties
that are not permitted under the Residential Tenancies
Act 2006 (e.g.,damage or pet deposits, interest on rent arrears), and
Require the tenant to pay for all or part of the repairs
that are the responsibility of the landlord.
More Legal Information To Make Sure You Succeed And Your Landlord Loses
You will not find a specific section of the RTA that says that a tenant has the right to have guests, roommates, visitors, etc.
The right to have guests, roommates, visitors, etc., is a right that is encapsulated in a tenant's right to quiet enjoyment of their rental unit.
The Residential Tenancies Act at section 22 prohibits a landlord from interfering with a tenant's reasonable enjoyment.
"A landlord shall not at any time during a tenant’s occupancy of a rental unit and before the day on which an order evicting the tenant is executed substantially interfere with the reasonable enjoyment of the rental unit or the residential complex in which it is located for all usual purposes by a tenant or members of his or her household"
This provision has been interpreted numerous times. There are many cases where the landlord prohibited guests, occupants, required roommates to apply to be tenants and then refused, etc. etc.
In all of the cases the LTB finds that the restriction is a breach of section 22.
A useful expression of the right to have guests can be taken from the case of Jemiola v. Firchuk 206 O.A.C. 251, which is a Divisional Court case.
The judgment contains this line: "The landlord and his agents acknowledged that Mr. Jemiola was living in the unit, but the legislation does not prohibit tenants from having room-mates, family and friends living with them. The Member found, correctly in our view, that this does not necessarily confer on them the status of tenant."
DISRUPTION BUSINESS STRATEGY
So you can have guests...and these guests can pay you! Let's create a hypothetical example:
-So you rent a place with 4 bedrooms for $2000/month.
-You would normally have 4 people paying $500/month, which is ridiculously expensive for students.
4 people x $500 = $2000....but let's RACE TO THE BOTTOM AND "DISRUPT" THIS.
-Students are looking for good locations and lower costs. So go for 8 people (roomates) at $350/month (a huge savings for tenants) 8 people x $350/month = $2800...which is an $800/month profit!
-And turn living room into a bedroom! $350x2/month = $700/month
-You can turn the dining room into a bedroom. $350x2/month = $700/month
-You can turn any space into a bedroom, so lets say you have a another storage area $350x2/month = $700/month
=$4900/month revenue - $2000/month = $2900/month profit!
These are all “guests”, but they will pay you rent.
It’s A Win-Win For Students...But Make Sure You Are On The Lease And The Others Are Not (They are just guests)
So you pay $2000/month. You allow others the opportunity for below market rents.
For A $2000/Month Rental You Generate Revenue of and PROFIT OF $2900/month x 12 = $34,800
Now rent out 5 houses like this and $34,800 x 5 rentals = $174,000/year
There Is Nothing Your Landlord Can Do As Long As They Are All Your Guests
These are all guests. And guests are totally legal in Ontario. You can have as many as you want and your landlord is helpless.
Don't sign leases, don't have any evidence. Tell your tenants they are "guests" to get the cheap rate that is so much more economical compared to what the typical student landlords are charging.
Here Is How Ontario Students Can Win
Rent a place that is large and spacious.
Get It, Sign A Lease.
Market Your Place Like Crazy At Under Market Rents...You Will Get A Huge RESPONSE
Don’t Sign Anything with Your “Tenants”...they are only guests (and you can get all the rent up front)
Remember, they are only ‘guests’ and if you sign anything formal they could be considered ‘subletters’ which can give your shady landlord some maneuver room to get them out.
What If My Landlord Is Sneaking Around Or Complaining?
It's simple: take them to the Landlord and Tenant Board for harassment.
Here is the form you simply fill out at the LTB call the T2:
http://www.sjto.gov.on.ca/documents/ltb ... ons/T2.pdf
Or you can call the Rental Enforcement Unit to charge your landlord:
https://www.ontario.ca/page/solve-disag ... -or-tenant
And if they are intruding on YOUR PROPERTY you can call the police and the landlord will be charged for harassment and trespassing.
IT'S TIME TO DISRUPT THE HUGELY CORRUPT AND HUGELY PROFITABLE STUDENT RENTAL INDUSTRY.
SMART STUDENTS CAN MAKE HUNDREDS OF THOUSANDS OF DOLLARS...DO IT NOW, DON'T WAIT! GET RICH!
TAKE THE HUGE PROFITS OUT OF YOUR LANDLORDS HANDS AND PUT THE PROFITS INTO YOURS!
LET'S DISRUPT THE ONTARIO STUDENT HOUSING INDUSTRY!
USE THE RULES TO DISRUPT AND PROFIT!...SPREAD THE WORD BUT GIVE ME AND THIS FORUM CREDIT