COVID - 19 LANDLORD HELP
To Our DASH Clients,
With the current COVID-19 economic situation, several Tenants have been unemployed and are facing challenges starting with making their April 1st rent payments and potentially future months to follow.
Please see below some common questions:
Can Tenants not pay rent?
No, Tenants are still fully responsible for rental payments that are due.
What should we realistically expect?
Many tenants reached out to us request to defer their monthly rent by a few weeks to assist them to better manage their cash flow.
Various Tenants have requested discounts to their rent and few have expressed their inability to pay rent for the time being. Our Property Managers are readily available to discuss with each Tenant to discuss the relevant challenges and propose rent payments alternatives and public financial aids.
If Tenants do not pay their rent, can they be evicted?
Yes, however the Provincial Government has announced that the Landlord and Tenant Board will remain closed until June 30th 2020, and any issued eviction orders will be held up now. Therefore, realistically eviction can take place at the earliest 6 months from today. Evictions can turn costly, include emotional toll and impact Tenant’s credit score as well. For further details, please visit the Landlord and Tenant Board website.
What type of financial aid is available for Landlords?
The Federal Government of Canada, Provincial Government, and City of Toronto are working together to offer the following financial aids:
- Mortgage Payments Deferrals Up to 6-months
- City of Toronto Property Tax Deferrals Up to 60-days
- Extended Deadline to Pay Taxes Up Until August 15 2020
For a more detailed list of financial options, please visit Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses
Do I have to pay my monthly condominium fees?
Yes, your respective monthly common element fees will not be deferred during this time. For further info, please go to: https://www.reminetwork.com/articles/condos-common-expense-fees/
My current Tenants have provided their N9 notice to end their tenancy, can I show the property to prospective Tenants?
This depends on the rules of the Condominium Corporation of your rental property. Several buildings have completely restricted showings to only virtual showings via photos and virtual tours, while other buildings across the GTA are still permitting in-person viewings as long as they’re wearing the proper protective gear (i.e. mask and gloves) to the showings.
Many Tenants are self-isolating in their rental properties and may deny showings during this period. However, our team and other agents are working together to find solutions to overcome these restrictions.
How Do I address Tenants’ maintenance requests?
Our team is still receiving the Tenant maintenance requests during this time and our network of contractors is currently available to service across the GTA. Maintaining your rental property and ensuring that the premises are safe and livable for your Tenants is our priority despite the issues that we may face during this COVID-19 crisis.
At DASH, we are committed to providing our clients with the highest level of service. During this difficult time for everyone, we continue to follow the health and financial reality in our community and based on that we strive to find the best course of action to mediate any financial burden you may experience.
If you have any questions, please feel free to contact your designated Portfolio Manager.