Search Results

Becoming a landlord for the first time is an exciting milestone and a serious responsibility. Whether you’ve inherited a property, purchased your first rental, or are leasing out your home, managing a rental unit involves more than collecting rent. From legal obligations to tenant relations, here's what every first-time landlord should know to protect their investment and set themselves up for long-term success. 1. Understand Your Legal Responsibilities Before handing over the keys, familiarize yourself with local, state, and federal landlord-tenant laws. These include: Fair housing regulations  (you can’t discriminate against tenants based on race, religion, disability, etc.) Security deposit laws  (including how much you can charge and how it must be held) Notice periods  for rent increases, entry into the unit, and eviction Habitability standards  (you must maintain a safe, livable property) Failing to follow legal procedures can result in fines or legal disputes, even if you’re acting in good faith. 2. Screen Tenants Thoroughly—but Fairly Tenant screening is your first line of defense against future problems. Conduct background and credit checks, verify employment, and contact previous landlords. However, be consistent and apply the same criteria to all applicants to avoid claims of discrimination. A strong lease agreement means little if the tenant is unreliable. 3. Have a Strong Lease Agreement A well-written lease protects both you and your tenant. It should include: Rent amount and due date Security deposit terms Maintenance responsibilities Late fee policy Rules for pets, smoking, subletting, etc. Avoid using generic leases found online; instead, tailor one to your state laws or consult a property attorney. 4. Maintain the Property Proactively Repairs are inevitable but emergencies are avoidable with regular maintenance. Create a schedule for seasonal tasks like HVAC inspections, gutter cleaning, and pest control. Respond promptly to tenant repair requests. Not only is this legally required in many places, but it also fosters goodwill and reduces turnover. 5. Set Clear Communication Boundaries Establish how and when tenants can contact you. Will they call, text, or use a maintenance portal? Having set channels keeps things professional and helps you document interactions. Remember: friendly doesn't mean informal, you're running a business. 6. Prepare for the Financial Ups and Downs Even with great tenants, there may be months with late payments or unexpected expenses like plumbing failures or appliance replacements. Create a reserve fund and treat your rental like a business. Track income and expenses meticulously, you’ll thank yourself come tax season. 7. Consider Professional Help Managing a rental property isn’t always a hands-on hobby, it can quickly become a full-time job. If you’re feeling overwhelmed by tenant issues, maintenance calls, or legal complexities, partnering with a professional management company like Qterra Property Management  can be a smart move. A reputable manager handles leasing, maintenance, rent collection, and legal compliance freeing up your time and reducing stress. Being a landlord can be rewarding and profitable, but it comes with a steep learning curve. By taking the time to educate yourself, setting clear expectations, and managing your property professionally, you’ll lay a solid foundation for long-term success and avoid the headaches that trip up so many first-timers.

Canada’s housing market is unlikely to heat up unless mortgage rates fall closer to three per cent, according to industry analysts. Currently, the lowest available rate for a five-year fixed mortgage sits around 3.74 per cent. That’s not low enough to spur a significant uptick in homebuying activity, say economists. In fact, a recent survey found that 68 per cent of prospective homebuyers view today’s rates as a major obstacle. Nearly 40 per cent of respondents said they wouldn’t consider buying or refinancing until rates dip to three per cent or lower. From both affordability and investment perspectives, a three per cent rate is considered the tipping point. At four per cent, borrowing costs still feel too high for many Canadians, and the numbers don’t make sense for first-time buyers or investors alike. Mortgage professionals note that when rates hit the three per cent mark, real estate activity typically picks up more listings, more offers, and more deals closing. While rates have been edging lower, recent economic uncertainty, such as tariffs and inflation concerns, has created volatility and made buyers cautious. Affordability remains a major barrier. A recent survey showed that 67 per cent of Canadians are only comfortable spending up to $1,749 monthly on housing. Even those earning over $100,000 annually said they struggle with payments above that threshold. However, the average monthly mortgage payment in Canada currently stands at $1,829. Given the national average home price of $678,331, many potential buyers find themselves priced out. While the average mortgage most Canadians feel comfortable carrying is around $350,000 over 25 years, that doesn’t stretch far, especially in expensive markets like Vancouver, where entry-level homes often exceed $800,000. With a typical down payment of less than 20 per cent, the gap between what buyers feel comfortable paying and the actual cost of homeownership remains significant. Until borrowing costs come down meaningfully, experts believe the housing market will stay in low gear.

As the rental market grows more competitive and increasingly digital, so do the tactics of rental scammers. Rental fraud is evolving, targeting both property owners and prospective tenants with sophisticated schemes. For landlords and property managers, staying ahead of these threats is crucial to protecting your properties, reputation, and income. In the past, rental scams were often obvious: fake listings with too-good-to-be-true prices or landlords who asked for deposits before viewings. But today’s scams are much harder to spot. Fraudsters may pose as real landlords using stolen listing photos, hijack legitimate ads, or even impersonate tenants to gain access to properties. In some cases, scammers copy a real listing and repost it with slightly altered contact information, tricking renters into sending deposits to the wrong person. Landlords are also increasingly targeted. Scammers may apply for a unit with fake identities, forged financial documents, or stolen credit reports. These fraudulent tenants can cause financial loss, damage to property, or costly legal battles when the truth is eventually uncovered. So, how can landlords and property managers protect themselves? Start by verifying tenant identities and documentation carefully. Always run credit checks through reputable agencies, verify employment and income directly, and confirm references. Use secure, professional leasing platforms that offer document tracking and fraud detection tools. Be cautious with online listings as well. Watermark your photos to prevent image theft and avoid posting detailed addresses publicly until an application is in progress. Respond only through verified contact methods and always meet applicants in person or via a secure video platform when possible. It’s also smart to educate prospective tenants. Encourage them to contact you directly through your company website or trusted platforms. Let them know you will never request money or deposits before a formal lease is signed. As fraudsters get smarter, so must landlords. By staying informed, using secure systems, and vetting applicants thoroughly, you can protect yourself from the rising tide of rental fraud and maintain a trustworthy, successful rental business.

Managing rental properties can be rewarding, but it also comes with challenges especially when tenants fall behind on rent. For landlords and property managers, knowing how to handle late payments and evictions legally and professionally is essential. It helps maintain good tenant relationships, protects your business and ensures you stay compliant with local laws. The first step in addressing late payments is to have a clear, well-written lease agreement that outlines when rent is due, any applicable grace period and the consequences of non-payment. If a tenant misses a payment, it's important to act promptly but calmly. Often, a courteous reminder via email, phone call or written notice is enough to resolve the issue. Some tenants may simply forget or face short-term financial difficulties and appreciate open communication. If the rent remains unpaid past the grace period, issue a formal notice as required by your province’s landlord-tenant laws. In Ontario, for example, this would be a Form N4 (Notice to End a Tenancy Early for Non-payment of Rent). This legal notice informs the tenant of the outstanding amount and provides a deadline to pay or vacate. Make sure the notice is filled out accurately and delivered correctly, mistakes can delay the process or even invalidate the eviction. Should the tenant still fail to pay or leave, the next step is to apply to your provincial landlord and tenant board to begin the legal eviction process. This ensures the matter is handled by the courts, rather than through confrontation. Remember, self-eviction actions such as changing locks or removing belongings are illegal and could result in legal consequences for the landlord. Throughout the entire process, keep detailed records of all communication, notices served, payment histories, and any other relevant documentation. Not only does this protect you legally, but it also strengthens your case if a hearing is necessary. Handling late payments and evictions can be stressful, but approaching the process legally, fairly and professionally keeps your property business running smoothly and helps protect your reputation as a responsible landlord. When in doubt, consult legal professionals or your local landlord-tenant board for guidance.

The dream of homeownership in Canada once seen as a symbol of stability and success is slipping further out of reach, especially for younger generations. For many, even affording rent while maintaining a decent quality of life feels like a stretch. This growing crisis may be a major factor driving younger voters and their families to the polls as the federal election approaches on April 28. Housing has become the defining issue in this election cycle. It’s dominating political debate and public concern, with related topics like immigration, interest rates, and affordability also taking center stage. Both leading political parties are putting housing at the forefront of their platforms. Proposals range from eliminating the GST on new homes and cutting red tape to incentivizing more density and building affordable housing. While the strategies differ, the message is clear: Canadians want solutions. Over the past decade, home prices have surged across the country. Hotspots like Toronto and Vancouver have become nearly impossible for average earners to break into. In Toronto, for example, the income needed to afford a home has ballooned to over $220,000. And it's not just the big cities, places like Halifax, Montreal, and Calgary have seen similar price spikes, particularly during the pandemic when interprovincial migration intensified demand. The current affordability crisis is different from past ones. While earlier crises were driven by soaring interest rates in the '80s and '90s, today’s is largely due to an unprecedented spike in home prices during the pandemic, over 50% in some areas. Experts point to both supply shortages and heightened demand as culprits, suggesting that any meaningful fix must tackle both sides. Ontario serves as a striking example. Historically, housing costs there were about three times the average income. Now, that ratio has jumped to 10:1. This isn’t just about money, it’s about well-being. High housing costs can lead to poor mental and physical health, delayed family formation, and unequal access to education and opportunity. The rental market hasn’t been spared either. Although some markets have cooled slightly, national rental rates have risen significantly. As of early 2025, the average rent for a one-bedroom apartment sits at $2,088. With affordability front and center, it's no surprise housing dominates the platforms of all major parties. Municipal red tape and government-imposed costs are being highlighted as key barriers to building more homes. One party, for instance, is proposing to cut development-related fees in half over the next five years to spur construction. In short, the conversation around housing is no longer just about real estate, it’s about the future Canadians can afford to have. And this election could mark a turning point.

Home sales in the Greater Toronto Area (GTA) saw a sharp decline in March, dropping 23.1% compared to the same time last year. According to the Toronto Regional Real Estate Board (TRREB), 5,011 homes were sold last month, down from 6,519 in March 2024. On a seasonally adjusted basis, sales also dipped 2.4% from February. At the same time, the number of new listings surged, with 17,263 properties hitting the market—an increase of 28.6% compared to last year. The total housing inventory also grew 9.5% to 13,633 homes, giving buyers more options and easing competition. This influx of supply contributed to a decline in home prices. The average selling price dropped 2.5% year-over-year to $1,093,254, while the composite benchmark price, which represents the typical home, fell 3.8%. TRREB’s Chief Information Officer suggests that many buyers are taking a “wait-and-see” approach due to economic uncertainty and the upcoming federal election. However, TRREB President remains optimistic, noting that homeownership has become more affordable over the past year. Further interest rate cuts are expected this spring, which, along with increased housing supply, could give buyers greater negotiating power. While market activity remains slow for now, TRREB anticipates a rebound once consumer confidence and job security improve.

As technology continues to transform the real estate industry, digital key and access systems are becoming essential for modern property management. Traditional locks and physical keys are quickly being replaced by smart locks, keyless entry systems, and mobile access solutions that offer greater security, convenience, and efficiency for both landlords and tenants. One of the biggest advantages of digital access systems is enhanced security. Unlike traditional keys that can be easily lost, stolen, or copied, smart locks allow property owners to control access remotely. Many systems provide unique access codes for tenants, maintenance staff, and delivery services, reducing the risk of unauthorized entry. In case of a security concern, landlords can quickly update access permissions without having to change physical locks. For tenants, digital keys offer unparalleled convenience. Mobile access systems enable renters to unlock their doors using a smartphone app, eliminating the hassle of carrying physical keys. This is particularly appealing for short-term rentals and multi-unit buildings, where seamless entry is a major selling point. Some systems even allow tenants to grant temporary access to guests or service providers without needing to be on-site. Property managers also benefit from streamlined operations. Digital key systems reduce the need for in-person key exchanges, making move-ins and move-outs smoother. In the event of an emergency or scheduled maintenance, managers can grant quick access without coordinating physical key handovers. Additionally, many smart access systems integrate with property management software, allowing for automated tracking of entry logs and security monitoring. With tenant expectations evolving and security concerns on the rise, investing in digital key and access systems is a smart move for property owners. These modern solutions not only improve security and convenience but also add value to rental properties by offering a high-tech, hassle-free living experience. As the demand for smart home technology continues to grow, landlords who embrace digital access systems will stay ahead in the competitive rental market.

In today’s rental market, landlord-tenant disputes are becoming more common, leading to an increase in lawsuits against property owners. From lease violations to maintenance issues and discrimination claims, legal challenges can be costly and time-consuming. Understanding the common reasons landlords face lawsuits and how to avoid them can help protect your investment and reputation. One of the primary reasons landlords get sued is failing to follow local housing laws and regulations. Many cities have strict tenant rights, including rent control policies, eviction procedures, and habitability requirements. A small oversight such as not providing proper notice before entering a rental unit can quickly escalate into a legal battle. Staying informed about local and federal housing laws and ensuring your lease agreements comply with them is essential. Maintenance neglect  is another major cause of lawsuits. Tenants have the right to live in a safe and well-maintained property. Failing to address maintenance requests, ignoring pest infestations, or allowing unsafe conditions (such as faulty wiring or plumbing leaks) can lead to legal action. Regular property inspections, prompt repairs, and clear communication with tenants can prevent disputes and demonstrate your commitment to providing a quality living space. Discrimination claims  are also on the rise, as fair housing laws are strictly enforced. Landlords cannot deny housing based on race, gender, religion, disability, or family status. Even unintentional discriminatory practices such as favoring certain applicants over others can result in lawsuits. Screening all applicants fairly, using consistent criteria, and keeping thorough records of your rental process can help protect against such claims. To avoid legal trouble, landlords should adopt proactive property management strategies. This includes using well-drafted lease agreements, keeping detailed records of all tenant interactions, and addressing concerns quickly and professionally. Investing in landlord insurance   can also provide financial protection in case of unexpected legal disputes. By staying informed, being proactive, and treating tenants with fairness and respect, landlords can reduce the risk of lawsuits while fostering positive, long-term relationships with renters.

Ontario Premier Doug Ford's recent pledge of $543 million to the city of Ottawa has sparked enthusiasm and anticipation, heralding what is being hailed as a "landmark deal" poised to invigorate the city's economy. The substantial investment underscores the province's commitment to fostering growth and prosperity in Ottawa, a move that is expected to have far-reaching implications for residents and businesses alike. Ford's announcement, made during a visit to Ottawa, outlines a multifaceted approach aimed at bolstering economic development and infrastructure within the city. The allocated funds are earmarked for various initiatives ranging from job creation and innovation to enhancing transportation networks and revitalizing key sectors. At the heart of the Premier's plan is a focus on job creation and economic stimulation. The infusion of funds will support the expansion of existing businesses, attract new investments, and catalyze innovation across diverse industries. By fostering a conducive environment for entrepreneurship and economic growth, the initiative aims to position Ottawa as a dynamic hub for innovation and opportunity. In addition to bolstering economic vitality, the pledged funds will be directed towards enhancing critical infrastructure and transportation networks. Investments in infrastructure projects such as roads, bridges, and public transit systems are poised to improve connectivity and mobility, facilitating the efficient movement of goods and people throughout the city. Such enhancements are expected to not only alleviate congestion but also spur further economic activity by enhancing accessibility and connectivity. Furthermore, the funding initiative underscores a commitment to revitalizing key sectors essential to Ottawa's economic landscape. From supporting the burgeoning tech sector to revitalizing traditional industries, such as manufacturing and tourism, the investment aims to diversify and strengthen the city's economic foundation. By strategically allocating resources to address sector-specific needs and challenges, the initiative seeks to unlock new opportunities for growth and prosperity. Premier Ford's pledge represents a significant milestone in Ontario's ongoing efforts to support the economic recovery and resurgence of cities across the province. By partnering with municipal governments and stakeholders, the province aims to foster a climate of innovation, resilience, and prosperity. As the city of Ottawa prepares to embark on this transformative journey, anticipation is high for the tangible benefits and opportunities that lie ahead.

Budget Calculations Ontario's finance minister is gearing up to unveil the budget on Tuesday, facing pressure to address the escalating cost of living, stimulate new home construction, and plan for larger public sector wages, all while anticipating a weaker economy ahead. Premier Doug Ford emphasized that the fiscal plan would be "balanced, per se," focusing not only on the financial bottom line but also on considering slower growth, investing in infrastructure, and attracting manufacturing. Finance Minister Peter Bethlenfalvy indicated a continuation of the cautious approach seen in previous budgets. He highlighted the government's commitment to managing costs, fostering economic growth, and supporting workers. Last year's budget aimed for a surplus in the upcoming fiscal year, but the fall economic update projected a $5.3 billion deficit for 2024-25, with a balanced budget forecasted for the following year. Whether this path to balance will remain unchanged is uncertain. In a pre-budget announcement, Ford and Bethlenfalvy extended the 5.7-cent-per-litre cut to the provincial gas tax until the year's end. They also allocated $1.6 billion to assist municipalities in building critical infrastructure for new home construction. However, opposition parties called for increased spending to tackle the affordability crisis and boost home construction. Ford clarified that new housing policies wouldn't automatically allow fourplexes across the province, expressing concerns about sudden changes in neighborhood density. The debate around fourplexes has become a focal point, with the Liberals' support adding fuel to the discussion. Green Party Leader Mike Schreiner emphasized the importance of housing solutions in the budget, particularly fourplexes as a cost-effective option for affordable housing. Municipal Affairs and Housing Minister Paul Calandra criticized the federal government for withholding funding for affordable housing, citing discrepancies in progress reporting. NDP Leader Marit Stiles urged prioritization of public health care and education in the budget, alongside housing initiatives.

Canada's federal budget, slated for next month, is poised to allocate significant funding towards housing initiatives, announced Housing Minister Sean Fraser. The country grapples with a housing affordability crisis exacerbated by soaring immigration rates and escalating inflation and interest rates, driving up rental and mortgage costs. Fraser, speaking at a housing conference in Ottawa, emphasized the urgent need for substantial investments in building homes and supporting low-cost housing programs. While refraining from disclosing specific budget details, he hinted at multi-billion-dollar allocations for these initiatives, including low-cost financing programs to facilitate new home constructions. The federal budget announcement, expected to be presented by Finance Minister Chrystia Freeland on April 16, underscores the government's commitment to addressing housing challenges amid growing public concern. Conservative Party leader Pierre Poilievre has criticized the Liberal government's handling of the crisis, intensifying the debate as the country heads towards next year's election. Robert Hogue, assistant chief economist at RBC, highlights the pressing need for Canada to construct 315,000 new residences annually until 2030 to meet the surging population demands, significantly surpassing current housing completion rates. Qterra Property Management remains attentive to these developments, recognizing the potential impacts on the real estate market and property management landscape.

The Bank of Canada’s latest interest rate cut will provide some relief to homeowners renewing their mortgages. However, experts say it is unlikely to significantly boost homebuying activity. Although borrowing costs have decreased, mortgage rates remain more than double what they were in 2020 and 2021, when interest rates were below 2 per cent. Many homeowners who secured those historically low rates are now facing much higher renewal costs, putting pressure on household budgets. On Wednesday, the central bank reduced its benchmark rate to 2.75 per cent from 3 per cent. Despite this, economic uncertainty exacerbated by an escalating trade war is keeping potential homebuyers on the sidelines. Many are adopting a wait-and-see approach, preferring to delay purchases until market conditions stabilize. Real estate professionals note that both buyers and sellers are hesitant to make moves in the current climate. Even with lower interest rates, affordability remains a key concern. A 25-basis-point rate cut is unlikely to persuade buyers to enter the market if job security is uncertain. Mortgage delinquency rates indicate growing financial strain. In Ontario, the rate of homeowners missing payments for at least 90 days reached 0.22 per cent in the last quarter of last year nearly double the rate from late 2023. While lower rates can slow delinquency growth, they do not erase financial challenges built up over time. Following the Bank of Canada’s rate cut, lenders reduced rates on variable-rate mortgages, which move in tandem with the benchmark rate. However, fixed-rate mortgage changes remain uncertain, as they are influenced by government bond yields. After the rate cut, bond yields increased due to trade war concerns, limiting the drop in fixed mortgage rates.