Luz Romero jumped at an opportunity to become a landlord a few years ago and has since regretted her decision to do so.
The home that her and her husband renovated has two rental units — one on the main floor that houses a couple, and a basement that is home to one renter.
Last year the couple were late on their $1,400-a-month rent payments a few times and were given extensions. Romero never thought the couple would stop paying rent altogether.
Currently, the couple owe Romero around $7,000 and is waiting months for a hearing to try to evict them.
Romero and her family have reached a financial breaking point
After emptying their savings to pay their bills, the family is upset with the system and discouraged about how to move forward.
When the tenants didn’t pay rent for two months in a row, Romero offered them a “cash for keys” deal. She was hoping to bypass the formal eviction process using this legal tactic. The couple was offered $10,000 and forgive the rent they owed if they moved out by the end of May. Unfortunately, the tenants never responded so she is waiting to evict them.
It’s like a war right now between tenants and landlords
Luz Romero
Romero said that the Ontario rental system is not working and that the housing crisis will worsen if it pushes small landlords like herself out.
I want them to leave and I want to sell and never ever, ever [be a landlord] again
Luz Romero
Romero, along with many other landlords, are fed up with the system. A report by an ombudsman confirmed that the LTB has a backlog of more than 38,000 applications. It usually takes six to nine months after a complaint is filed against a tenant for a hearing to occur.
Some of these tenants are conducting illegal activities and are threatening their landlords, many of which are facing financial ruin because rents are not being paid.