Case highlights need for property managers

An egregious case involving a landlord who not only had his apartment trashed but also had to pay for his tenant to leave is bringing attention to the need for a property manager.

Tyler Soulliere, a real estate investor with TySoull Real Estate Group in Windsor, recently dealt with a similar situation at one of his investment properties and has since hired a manager to watch over all of his properties to protect himself from risks.

“The process of evicting a tenant now has become such a joke, that you stand to lose easily three months of rent,” Soulliere told CREW. “Having a property manager will hopefully prevent future incidents and lost rents.”

He added that having a property manager could have helped to avoid the situation altogether. However, he decided to go through the Landlord and Tenant Board, which was a frustrating and drawn-out process.

“We were able to get them to leave not by following the system, but by offering him $500 and his last month’s rent back [which is supposed to be a security deposit]," said Soulliere. "Otherwise, he would have played the system, got to live for another month or possibly two or three for free, then left."

The first time Soulliere walked this road, he took a $4,000 hit, and, with this new case, comes yet another reminder for investors to seek property managers, best able to deal with illegal activity.

Because the formal process for evicting tenants can be slow, prevention is the method of choice and property managers are built for that. For Soulliere, he started the process to evict the tenant at the beginning of June and submitted forms to the Landlord Tenant Board, which takes about three to six weeks to process. The tenant was already a month behind having not paid for May.

In this case, a small mishap forced the Windsor landlord to re-file the paperwork, which took additional time as his rental profits dwindled. Fed up with the process, Soulliere offered the tenant $500 and his last month’s rent.

While the tenant took the deal, he also left the place trashed, leaving Souilliere to foot the clean-up bill and repair minor damages.

The situation gives a resounding warning to other landlords to do the following: have your property manager visit as often as necessary until you feel the tenant will honour your investment and take care of the place; conduct thorough screenings of prospective tenants; and, build a relationship with law enforcement.
 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
Stirling, Saint-Cyprien-de-Napierville, Langley, Fletchers Lake, Paspébiac

COMMENTS

  • by Jon 2015-08-10 3:19:00 PM

    Unfortunately it is difficult for ontario landlords to evict problem tenants. This has been the situation for many years. I suspect it will be even harder to evict bad tenants as the landlord tenant board is now calling itself the "Social Justice" tribunal. (Though I doubt there will be much "justice" for landlords).

    Landlords must VERY CAREFULLY screen tenants and never take unnecessary chances..........or they leave themselves at the mercy of the "Social Justice" Tribunal; not a good place for an Ontario landlord!

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address

Poll

Is a T.O foreign sales tax a good idea?