Lease and Rental Management
Every new Ontario landlord faces the same learning curve — the volume of regulations, best practices, and operational requirements can feel overwhelming. A systematic checklist ensures nothing critical is missed as you establish your rental property.
Legal foundations: Use the Ontario Standard Form of Lease. Collect a last month's rent deposit and place it in trust. Conduct and document a thorough move-in inspection with photographs. Ensure you have current landlord insurance, not standard homeowner insurance. Register tenants with the condo corporation if applicable.
Ontario Tenancy Law
Screening: Run a credit check with tenant consent. Verify employment and income directly. Contact at least one previous landlord by phone. Document your selection criteria and the reason for your decision on every application reviewed.
Financial setup: Open a dedicated bank account for rent collection. Set up a simple expense tracking system from day one. Note the annual rent guideline and your unit's rent control status. Understand what expenses are deductible against rental income.
Protecting Landlord Rights
Maintenance: Know where your main water shutoff, gas shutoff, and electrical panel are. Have a licensed HVAC contractor service your heating and cooling annually. Test smoke alarms and CO detectors. Know your municipality's property standards requirements.
Emergency planning: Have at least two licensed plumbers, one electrician, and one HVAC contractor as contacts. Know how to reach your tenant in an emergency. Understand your obligation to provide habitable conditions and what constitutes an emergency requiring immediate response.
D&D Property Management offers new landlord orientation services — helping first-time landlords understand their obligations and set up their operations correctly before problems arise. Contact us to discuss how we can support your start in rental property ownership.