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Waterloo Landlords: Landlord Licensing and the City of Waterloo

December 16th, 2013 · 3 Comments · City of Waterloo, Waterloo Landlords: Landlord Licensing

 Waterloo landlords and landlord licensing

It’s been a complicated year for landlords in our city.

There are tremendous opportunities for Waterloo landlords, especially in the student landlord sector.

There have also been challenges that look to continue on in 2013.

For example we’ve seen some major issues with the local economy, especially with RIM.

And Ontario landlords can only raise the rent 0.8% in 2014.

(And the no matter how much are costs go up the Rent Increase Guideline is capped at 2.5%).

Waterloo Vacancy Rate Is Higher

According to the CMHC (Canada Mortgage and Hosing Corp.) the vacancy rate has increased in Waterloo in 2013.

In October 2013 the rental apartment vacancy rate in Waterloo was 2.9%.

This is up from 2.6% in October 2012.

The good news is the average rent for a two bedroom rental in Waterloo increased from $908/month in 2012 to $952 in 2013.

Landlord Licensing

Waterloo landlords have also had to continue with the Waterloo landlord licensing scheme in 2013.

Landlord licensing is still controversial.

The City of Hamilton wanted to create a landlord licensing scheme this year but Hamilton landlords united and prevented the City’s destructive plan from happening.

And Oshawa landlords and Scarborough landlords are fighting current and proposed legislation to license landlords.

The City of Waterloo Wants Your Feedback

Waterloo wants landlords opinions and have sent out an email to stake-holders in our city.

According to the email, the City of Waterloo wants to hear your thoughts about rental housing in Waterloo.

The claim the residential rental housing licensing bylaw we have limits the impact of large rentals in residential neighbourhoods and makes sure tenants live in safe and well maintained units.

Participate and You Might Win a Grocery Card

Yes, there are even prizes involved to attempt to get landlords to participate.

The City says everyone who completes this survey will have a chance to win 1 of 3 grocery gift cards valued at $150.

If you participate you will have to write your name and address and telephone number.

They say all personal information collected in this survey will be kept private and confidential. 

Except they also say Information collected may be subject to a Freedom of Information request pursuant to the Municipal Freedom of Information and Protection of Privacy Act. 

And the ‘contest’ closes January 31, 2014 at 4 p.m.

Waterloo Landlords And Our Rights

It’s difficult for Waterloo landlords when real estate agents looking to sell investors Waterloo student rental properties act as “Waterloo landlord advocates”.

It’s time Waterloo landlords and investors joined together to create a strong landlord voice to our local government (no nasty Realtors allowed or some nasty noisy property managers out to catch your money!)

This is something we will do in 2014 as we demand changes (and an end) to the Waterloo landlord licensing scheme and create an economic environment in our city that is attractive to investors all over the world.

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3 Comments so far ↓

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  • jon

    myself and my business partner bought a property close to Laurier about 6 yrs ago. The city in the last year has informed us that the property is an illegal duplex. then they told us because it was an illegal duplex when the new nmu 6 by law came into affect it can no longer ever be zoned as a duplex. They proceeded to tell us that because it was an illegal duplex when the new bylaws came into effect the property had forfeited its zoning as a single family dwelling as well. so at this point staffs position is that the house will not be zoned a duplex nor will it be zoned a single family dwelling and that they recommend we vacate the property and either tear the building down or sell it. This malicious treatment by the City of Waterloo is what we have been facing for the last year now. The threat of being fined up to $100000 because we are in breach of our rental license is fresh in our minds now. Without tenants we can’t pay this mortgage. We’ve already been forced to remove tenants from one of the aptmts and now the property is costing us money and burying us each month.we need help we don’t know what to do hereand we are just getting smacked around by the city at every turn.is anyone out there dealing with a similar situation that can offer any advice to us