The real cost of smoking tenants

The study, sponsored by smoking-cessation drug producer Pfizer Canada, canvassed 401 real estate agents and brokers for their take on selling properties where smoking routinely took place.

Some 56 per cent of those real estate professionals said buyers are less likely to purchase a home where people have smoked.

About 27 per cent said buyers are flat-out unwilling to buy a home where resident’s smoked.

There’s more: The survey concludes that smoking in a house can reduce property value upwards of 29 per cent.

Estimates are that 15 per cent of Canadian homes have one or more regular smokers.

But landlords looking to prevent smokers from doing so in their properties may face a challenge in most provinces.

In Ontario, for example, landlords can include a no-smoking clause in any lease, writes real estate lawyer Mark Weisleder, but the building should have a clear no-smoking policy and tenants living in the building prior to the change, cannot be forced to adhere.

Also, “if (tenants) sign a lease that says no smoking, and later smoke, you cannot evict them just because they broke their promise made in the lease.”

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

COMMENTS

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

Industry news

Submit a press release

Poll

Should government update pot rules to prohibit growing in rentals?