Many property owners are turning to management companies to have their condos and apartments rented and maintained. Condo management Toronto relieves property owners of the many headaches associated with property rentals. The law on tenancy can be daunting to properly comprehend, especially for small landlords renting just a unit or two. Still the law must be properly applied regardless whether one rents out just one unit or hundreds of condo and apartment units. Perhaps that is why for condo property management companies Toronto business is booming. A KPMG report on Dec. 2013 commissioned by the Federation of Rental-Housing Providers of Ontario estimates that Ontario’s housing rental industry contributed in excess of $18.3 billion to the province GDP and supported 147,000 full-time jobs in 2012.
The Landlord and Tenant Act, the Residential Tenancies Act, which govern the relationships between landlords and tenants, can be quite complicated. However, here are a few of the most important rights that tenants have:
Tenants have the right to security of tenancy. They cannot be unilaterally evicted by the landlord unless at the end of the tenancy contract and for reasons allowed by the law. Only a decision by the Landlord Tenant Board can legally evict a tenant.
Tenants have the right to privacy. The landlord may only enter the rented premises for reasons allowed under the law. Usually the landlord needs to give a 24-hour notice. Exceptions include emergencies and when the tenant permits the landlord to enter.
Tenants have the right to expect the premises to be fully habitable. Any required maintenance should be undertaken by the landlord at his own expense.
However tenants are responsible to the property management companies in Toronto for the following:
Paying rent on time and in the manner agreed in the tenancy contract.
- Maintaining a reasonable level of cleanliness in the rented property, such as what would be considered a normal level of cleanliness by most people.
Abiding by the terms stipulated in the tenancy contract.
Repairing or having repaired any damage caused by the tenant or his guests.
Better understanding of tenant rights and responsibilities will help avoid misunderstandings and make the job of commercial property management companies Toronto much easier.