Real Estate Investing Canada
Eviction Notice!
Yes, evictions happen...
If you plan on owning real estate and entering the rental market you will experience an eviction.
We do everything in our power to rent to the right tenants, however, there will come a time where you have to issue an N4.
Make sure you do your research on your rights as a landlord. You will find that a majority of the rights seem to lean on the tenants side. Now, there are some landlords out there who take advantage of situations which lead to tenants gaining more and more rights.
Landlords do have a lot of rights - you just have to do your research and follow it all to a "T".
If you're tenant is late on their rent. Make sure on the 2nd day you issue them an N4 notice. This shows that you are running a business and that the rent must be paid by the first of the month. Best practice is to hand deliver the mail to them, or slip it under their door. You can look up the N4 form - it has the instructions attached to it. Fairly simple to follow, make sure you check it over before handing it to your tenants.
After the 14days if the rent still is not paid you can now apply to the landlord tenant board for an eviction. You will be scheduled for a hearing so you can plead your case against your landlord. Be prepared.
There are other types of evictions - an N13 form - if you want to renovate the property to upgrade it. Keep in mind there are very strict rules against this. You can do this, but be aware that your tenants have rights to move back in once it is all renovated. (At the same rental price as before!) Depending on what type of property you own you might be subject to paying them three months rent to move out... look it up!
