Ontario Bill 112

Ontario is never a landlord-friendly province. Think how difficult / long does it take to evict a tenant who doesn't pay., the inenforceability of "no smoking" and "no pet" clauses.

Now it's getting worse with the proposed bill 112 that was undergoing second reading.

The Bill makes several amendments to the Residential Tenancies Act, 2006, including the following:

1. The Bill increases the time limit for most tenant and some landlord applications to the Landlord and Tenant Board from one to two years. Tenants can go back in time two years to file a complaint.

2. The Bill requires a landlord who terminates a tenancy for personal use to compensate the tenant and expands the circumstances in which a landlord is required to compensate a tenant if the landlord terminates a tenancy for the purpose of demolition or conversion to non-residential use. Formula given for compensation.

3. The Bill prohibits a landlord from increasing the rent charged to a new tenant by more than the guideline and abolishes landlord applications to the Board for above guideline rent increases where there has been a significant increase in the cost of utilities. No new rent increases to market rent beyond the guideline when you have tenant turnover.

4. The Bill requires that the Board dismiss an application from a landlord who has been given a work order under section 225 of the Act or an order under section 15.2 of the Building Code Act, 1992 and has not completed the items in the work order or the order. Excuse for not paying rent.

5. The Bill requires a landlord to obtain a licence with respect to a rental unit in a residential complex containing six or more rental units in order to enter into a tenancy agreement or renew an existing tenancy agreement. Money grab for Multi-family 6+

Most investors I know, including myself, are just hardworking investors who want to put money into good use. The Bill will simply make investors (local and international) leave and opt for places that offer better landlord protection and more reasonable returns.