TORONTO, May 25, 2022 /CNW/ – The Small-ownership landlords Ontario Inc. protest the hearing delays at the Ontario Landlord Tenant Board (LTB).
When and where?
Date: Friday May 27, 2022
Time: 11 am to 4 pm
Place: 15 Grosvenor Street, Toronto (Northwest Yonge and College). LTB office
Landlords have sat back and watched as the government closed the LTB, without any compensation or regard for their well-being or financial loss.
The provincial government recently allocated $19 Million – split between two tribunals. This funding is insufficient to bring about the necessary changes to legislation, policy, procedure and to ensure timely adjudication for landlords and tenants.
With a mounting backlog, wait times for hearings take months or years. The Service Quality Standards (SQS) set by Tribunal Ontario for dispute resolution is unjust, almost criminal in disregard for tax paying landlords to be expected to financially support a tenant while waiting for a resolution. It’s SOLOs position that landlords with these financial pressures to be treated “fair, effective and timely,” and have resolution within 60 days.
Results of LTB Delays
Landlords are often faced with the challenge of having a “professional tenant” – someone who intentionally refuses to pay rent although they have the means counting on LTB delays to live rent free. Meanwhile landlords bear the cost of the mortgage, maintenance, taxes, insurance and sometimes utilities.
This is leading thousands of landlords to exit the rental market, leave their property empty further contributing to the housing crisis.
The cumulative loss is hundreds of millions of dollars of unpaid rent to small landlords with no chance to recover. There have been bankruptcies even loss of life due to the stress as landlords wait for a resolution.
SOLO – Small Ownership Landlords Ontario – is a s federally registered organization representing working families, “mom and pop” rental housing providers with over 6,000 registered members throughout Ontario. We represent your relatives, next-door neighbour, anyone who owns a rental property. Our members aren’t wealthy land owners who own skyscrapers. We’re regular Ontarians who invested in real estate.
More press coverage about SOLO can be found here : https://bit.ly/35BQVct
SOURCE Small Ownership Landlords Ontario Inc.