Forming a community with other landlords is paramount to success in the rental property business.
“Unfortunately, landlords are caught in the political crossfire in Ontario, and many of us are fighting for basic rights, as well as keeping our heads above water in a difficult legislative environment,” she says. “By joining together we can further our cause.”
Ms. Schweitzer points out that Ontario landlords badly need to reform the Landlord and Tenant Board and OLA has been in contact with the Ontario Ombudsman to take up that cause. “All the support we can garner from members is crucial to making this happen,” she says. The OLA is also a regular contributor to news organizations around Ontario to make sure that the rights of landlords are not forgotten.
In Alberta, Directors of the Edmonton Apartment Association participated in committee to review and revamp the new Residential Tenancies Act, Ministerial Regulations and Code of Practice. In addition, the EAA collaborated with the Canadian Federation of Apartment Associations on federal tax issues.
The voice of landlords in British Columbia, the British Columbia Apartment Owners and Managers Association, was instrumental in eliminating the Provincial portion of HST on energy costs for landlords, and has made strides to obtain economic incentives for landlords. Government lobbying is BCAOMA’s most important benefit – lobbying for their members with one strong, well-respected voice. BCAOMA develops and maintains key relationships and monitors municipal and provincial government officials who are critical in ensuring the success of the rental housing industry.
Small landlords can find a loud voice by joining with others who share the same economic interests and concerns.
Property Management Advice
Landlords can turn to their associations to offer tips and a forum to discuss everyday issues. For instance, the Ontario Landlords Association landlord forum has over 30,000 posts in a year.
Edmonton landlords can participate in a number of networking and social functions and swap stories with other landlords. In addition, the EAA website tracks market trends and offers notifications of changes in the tenancy laws.
BCAOMA offers a number of networking opportunities, as well as its Best Practices for Landlords 101 and 102, seminars that cover tenancies from tenant screening through eviction and dispute resolution. BCAOMA hosts industry related meetings and seminars on a regular basis with a focus on important topics to assist landlords in making important decisions to secure a good return on their investment. Topics have included maintaining your property, attracting and keeping good tenants and understanding the provincial and municipal laws around apartment ownership. BCAOMA members also have exclusive use of over 30 types of professionally-drafted tenancy forms, including applications, agreements and condition inspection reports.
Access to Landlord Services
Landlord Associations list trades persons and suppliers who support the rental industry. From tenant credit checks to eviction assistance, the suppliers listed with landlord associations have been found to be excellent companies and are approved by other landlords.
In many cases, these companies offer the best pricing and many offer special discounts to association member landlords.
BCAOMA vows to increase a landlord’s net income on rental properties if landlords take advantage of the discounts it has brokered with trades and suppliers.
There are a number of Canadian landlord associations that offer landlords valuable benefits, and you are encouraged to take advantage of the opportunities offered, find your voice, and profit in your rental business.
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Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.