Real Estate Investment
1265 Morningside Ave suite 203 M1B 3V9 Toronto, ON, Canada

Sharing for everyone that rents or owns residential properties. This is written by an ONTARIO LAWYER: *****Landlords and tenants!!!!!***** anyone who knows me knows I am very active in LTB issues and what's fair. If the tenant is right I will fight tooth and nail if the landlord is right i will do the same...So please let me explain what happening NOW in this pandemic. I have had a lot of people call me and ask about their rent and how this affects them. Mortgage companies A...RE allowing deferred payments for owners.WHAT DOES THAT MEAN?? It means that an owner can take a payment that is due NOW and MOVE it to the end of their mortgage. BUT ONLY IF IT ON A RESIDENTIAL HOME NOT A RENTAL BUILDING! So they STILL have to pay the mortgage!! The government UNDERSTANDS this. That the owners are still having to pay the mortgage AND all the bills that go along with it. OWNERS ARE NOT GETTING A FREE RIDE because of the epidemic. The government is NOT Forgiving their mortgages they just got the banks to allow owners to MOVE the payments around. THAT being said the GOVERNMENT is however GIVING money to people in need for EXACTLY that reason to be ABLE to pay your rent and not put owners in jeopardy of having to declare bankruptcy. YES it is true they did stop evictions from CONTUNUING FOR NOW. Does this mean you dont have to pay your rent NO it does not..does this mean you should NOT get an N4 notice NO! You should and will because IF you make the actual decision to not pay...the MINUTE this is over I guarantee you there will be a overwhelming amount of evictions without mercy because you were given the money from the government TO HELP PAY your rent. If you really do have to not pay your rent DO NOT HIDE FROM YOUR LANDLORD-talk to them. Explain and see if they will work with you. The rent isn't even due yet and I'm already getting calls for owners asking for help because tenants feel if the owners don’t pay their mortgage then they DESERVE free rent. Sorry I disagree completely. Pay your rent as best you can because just like at some point the owners have to make that mortgage payment...the tenants WILL end up getting evicted and I'll be hired to chase your paychecks to recoup the money. THINK AHEAD PLEASE! Let’s try to be understanding of each individual situation both on the landlord’s side and on the tenant’s side and we’ll get through this trying time together. Stay safe!