Section: Word of the editor
Many landlords who have rented commercial premises have shown a lot of patience in recent months due to the pandemic.
Several landlords have agreed to participate voluntarily in the various government programs and have agreed to give up a portion of their tenants’ rent for a certain period of time in order to receive a government subsidy.
Landlords have tight deadlines. Many who have just purchased their buildings realize how important financial planning and regular cash inflows through the tenants’ rent deposits are. In a market that has become agitated, favouring upward transactions and often with reduced room for manoeuvre, the main expenses of the building are often immutable or almost static.
Taxes, insurance, energy costs, etc... leave little hope of reduction of these costs for rental property owners looking to improve the financial performance of their building. Income must therefore be as stable as possible, landlords must thus ensure that they make a good selection of tenants, which is of prime importance to avoid situations of non-payment of rent and conflicts as much as possible.
In order to repossess a dwelling, a notice must be sent indicating that one intends to repossess the dwelling. This notice must be detailed and comply with the provisions of the Civil Code of Québec. If you miss a portion of the notice, it could be declared invalid and your initiative will be doomed to failure. The time frame within which the notice must be sent is extremely important.
Let's first take the example of the best-known regular lease, that is, a 12-month lease. At this time, the notice must be sent at least 6 months before the end of the lease. If your lease, for instance, is a lease from July 1, 2018 to June 30, 2019, your notice must be sent no later than December 31, 2018.
Who would ever have thought that, after the inconvenience related to cannabis cultivation and smoke, rental property owners would have to deal with the problems associated with tenants putting up digital currency installations.
Indeed, some landlords are dealing with tenants who have installed dozens of servers in their apartment. These devices are used to 'mint' digital currency.
It is expected that this type of installation will reoccur and spread because substantial revenues are derived from this type of operation.
In the wake of the law that will probably legalize the use of cannabis, beginning on July 1, 2018, rental property owners and tenants of rental income housing are quite concerned.
Indeed, the odours resulting from cannabis smoke are very strong and quite annoying for most people. In a building, ventilation systems and the proximity of people to each other are elements that converge into a problematic situation for everyone’s life.