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The City of Kingston Wants You To Become a Landlord

September 7th, 2013 · 1 Comment · Kingston Landlords

Kingston landlords government secondary suites basement apartments income property

Have you the visited  HGTV channel and seen Scott McGillivray and the show ‘Income Property’.

Scott partners with homeowners who want to purchase an income property to make their financial dreams a reality.  He guides them through the entire process.

Some episodes begin with buying the house.

Some episodes focus on building the secondary suite.

They add a kitchen, bathroom, living rooms, bedrooms and turn a once empty basement in to a revenue creating basement rental unit.

Some episodes go right to renting out the property and banking the rental cheques.

Do You Want to Be a Landlord in Kingston?

Lots of people watch Income Property and become interested in becoming a landlord.

If you live in Kingston Ontario there’s good news.

What’s the good news?

The Kingston government wants people to rent out their basements and in-law suites.

According to an article at the Ontario Landlords Association website the city of Kingston is encouraging house owners to create secondary suites because they will create more rental units in the city.

Earlier this year Kingston council followed the mandate set by the Provincial Liberal government to create ways for private investors to create legal secondary suites.

Prior to these new bylaw if you wanted to make a secondary suite in your basement or attic you had to apply for rezoning. It was a longer and more complicated process.

Looks Like We Are Going To See A Lot More Landlords in Kingston

Yes.

The Government is pushing forward and encouraging people to build new rental suites.

This along with the shows such as ‘Income Property’ will lead lots of people to invest and become landlords.

Looks Good! Is There a Downside To This?

Yes.

Shows like Income Property don’t explain how difficult it can be for a landlord in Ontario.

Furthermore, the government isn’t warning people how the rules and laws side with (bad) tenants.

There are lots of stories out there about tenants ruining small landlords who did nothing wrong except try to make some extra money with their ‘Income Property.’

In fact, the Ontario Landlords Association wrote:

“We ask that cities such as Kingston also assist landlords in making sure the Residential Tenancies Act and the Landlord and Tenant Board are reformed. Changes need to be made, and fast.

Otherwise we warn the City of Kingston – many of these new landlords won’t be landlords for long.”

If you want to be a landlord in Ontario make sure you do lots of research about what you are really getting into.

When you have a tenant who won’t pay rent or has destroyed your unit, don’t expect Scott McGillivray to help.

To Discuss This and Other Kingston Landlord Issues Go to the Ontario Landlord Forum

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