I want to invest in residential properties and become a landlord. Except I heard being a landlord in Ontario can be really challenging with all the “Tenants from Hell” out there.
Ask any landlord out there. Being a successful Ontario landlord is extremely difficult. Any one sugar-coating it isn’t being honest to you.
Why is it so difficult?
Many non-landlords like to say “landlords need to treat their investment properties as a business.” In part this is true. Some landlords decide to enter the industry without knowledge of the industry, the rules, the laws, you name it.
So with some study of the laws you can be successful?
No. This is what the non-landlords out there don’t understand. You not only have to learn the rules and laws, you need to realize these laws are biased against landlords and in favor of bad tenants.
So it’s not as simple as just reading the government websites?
Exactly. Most of these ‘experts’ wouldn’t survive as year if they were actually investing their own money in investment properties.
So what is the key?
Knowledge is power. Ontario landlords who know the rules and laws, and also know how things “really work” are prepared for success.
What does the Ontario Landlord Guide teach?
The Ontario Landlord Guide is a book that can be downloaded by Ontario Landlords Association members.
It’s a step-by-step guide for Ontario landlords to run a successful rental business.
What information does it include?
Topics include:
-Are you ready to become a landlord? Do you know what it takes? Are you ready to do what it takes?
-How can you prepare your property to gain an edge over your competitors to attract the most highly qualified renters?
-How do you set a profitable yet still competitive rent price?
-What is the most effective way to manage your property? Should you hire a property manager or hire yourself?
-What is the most cost effective yet successful ways to advertise and reach the tenants you want to reach?
-What is the most effective way to deal with prospective tenants?
-How can you ‘market’ your rental property?
-How do you choose a tenant?
-How do you begin the landlord – tenant relationship to make sure it’s a success?
-How do you keep good tenants satisfied and in your property?
-What happens if you get bad tenants? How do you evict them?
-How do you deal with maintenance issues?
-What are the secrets to finding and working with contractors?
-How do successful landlords keep their files and databases?
…and more!
It’s a truly comprehensive guide for landlords
It is. It’s also loaded with ‘tips and tricks‘ that will help new landlords jump the learning curve and learn what experienced veteran landlords already know.
Whether you are a new landlord or already own some properties, education is the key and the Ontario Landlord Guide will help you learn more and more for your success.
http://ontariolandlords.org/blog/the-on ... ord-guide/