Module 7 Flashcards
2 specific inspections for fire code compliance
Electrical Safety authority & local fire department
max # of ppl for habitable room cannot exceed
one person for each nine sq m
max size of room for 1 person
six sq m
rental housing licenses gives the mun. the ability to manage
low-rise res. housing
Rent safe TO
- requires buildings to comply w maintenance standards
- buildings with 3+ stories/10+ units must enrol
- every 3 years they are subject to a prop. inspection
if two ppl are in a room the min. floor area is
4 sq m
for comms that dont have mun. bylaws for prop maintenance, landlord must follow
RTA
responsible for enforcing maintenance standards
mun. gov.
rules concerning rental housing bylaws are contained in the
municipality’s bylaws
rent cannot be increased unit the tenant has lived there for at least `
12 months
notice for rent increase
at least 90 days
notice to terminate required when safety is a concern for the tenant
28 days
adjudication
deciding or settling bylaw isses
makes landlord responsible for ensuring housing is free from harassment
on. human rights code
any increase in rent must be within the
provincial guidelines set each year
notice to enter a unit must be given
24 hrs before - must be bw 8 am/pm
landlord can terminate tenancy is the unit is needed foe
themselves, spouse child, parent, caregiver
adjunction requires the board to decide and settle issues by
issuing an order after an hearing
applying a rent to income ratio to qualify a tenant is only legal if its
subsidized housing (rent is geared to income level)
terms agreed to in an agreement to lease
cannot be changed
Agreement to lease sets out fundamental
material aspects of the agreement b4 entering into the lease agreement
Landlord transferring financial and maintenance responsibilities to the tenant
unenforceable terms
Landlords must inspect CO alarms:
- Annually
- after change of tenancy
- after electrical renovations
Sprinklers are required in buildings that are higher than
3 stories
Means of egress
direct access to a ground level door or a fire safe stairway
purpose of a rent roll
document income derived from an income producing proeprty
importance of a rent roll
helps understand value and stability of a rental prop
tenant ledger
used to track revenue and expenses related to a rental agreement
would include if rent increases were applied and if the tenant paid laid
tenant ledger
includes a summary of accounts payable and receivable
tenant ledger
net operating income equation
Gross income - (operating expenses + bad debt + vacancy + prop. tax)
exempted from the provinces rent increase guidelines
rent units first occupied after nov 15 2018 + short term rentals
short term rental accoms must be registered w
RECO, travel industry council of ON (TICO), possibly both (if trading in RE and other travel services)
things to look for in a tenant app
- employment gaps are explained
- past rental history is complete
- it is signed
- reference are provided
- completed in full
good applicant =
full disclosure
completed and signed by potenential landlord and tenant prior to the agreement to lease
res. tenancy agreement (standard form of lease)
