Follow Guidelines On Allowable Rent Increases. Ontario guidelines dictate the maximum percentage a landlord can increase most tenants’ rent by during a year without the approval of the Landlord and Tenant Board.This guideline applies to tenants living in: Rented houses, apartments, basement apartments and condos.. As a result, being a landlord in Ontario can be a lucrative venture, provided that one navigates the market smartly. Benefits of Being a Landlord in Ontario. Steady Income Stream: The primary advantage of being a landlord is the potential for a consistent and reliable income. Rental income can serve as a significant financial cushion or a.
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How to Become a Landlord. Whatever the reason behind the move to becoming a landlord in Ontario, the following tips will help you have a stress-free experience down the road. Landlord/tenant relationships can be strenuous. However, it can be turned into a positive and profitable experience with the right information and plan.. rules or terms about the rental unit or building (for example, no smoking) It also has a section on renter and landlord rights and responsibilities, and explains what can (and cannot) be included in a lease. For example: who’s responsible for maintenance and repairs. when your landlord can enter your unit. that landlords can’t ban guests or.