Is your Hamilton unit up to scratch? It had better be before the city’s officials come knocking on the door to ensure the property is up to standard.
In lieu of a flat licensing fee for rental housing complexes with six units or less, city officials decided last week to invest in an existing program that cracks down on such housing with increased fines for offenders. As part of the plan, five part-time staff will check on property standards and maintenance issues.
Still, many unhappy investors view the approach as another means to squeeze cash out of property owners. But others see the move in a more positive light.
“I think it’s a great proactive approach to cleaning up the whole rental market in Hamilton. In turn, it will be an attractive place to rent and encourage more people to relocate and invest here,” says Joseph Trombetta from the Titan Mortgage Group in Hamilton.
It is estimated that there are over 8,000 illegal apartments in Hamilton. “Slum landlords will be a thing of the past for Hamilton when this comes into effect,” says Trombetta. “No one likes to see dilapidated properties in a neighbourhood, and it deters investors so this should really benefit the area.”
The McMaster University and Mohawk College areas have been identified as two key targets by city officials with reports of small homes housing 10 students and more.
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