Letters: Do homework on being a landlord

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Here are 17 reasons why there is a shortage of rental units province-wide and Norfolk County-wide.

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Letters: Do homework on being a landlord Back to video

A few reasons why not to start a small rental business:

1.  You forfeit most control of your unit(s) to the tenant;
2. Not all tenants misuse rented units, but too many do;
3. Not all tenants are late or skip paying their rent, but too many do. Those that do require a hearing at the Landlord Tenant Tribunal, which can takes months while missing rent cheques pile up;
4. Not all tenants skip their utility expenses, but too many do and landlords are now required to pay overdue utilities;
5. Not all tenants trash their unit, but too many do;
6. Not all tenants have disregard for landlords, but too many do:
7.  Not all Landlord Tenant Tribunal issues prefer tenants, but too many do:
8. Not all tenants disturb others, but too many do;
9. Not all landlords need to finance their investments, but many do:
10. Banks charge higher interest payments and require higher investment levels for rental unit(s);
11. There are many personal, property as well as structural liabilities;
12. Insurance companies charge much higher premiums for rental properties;
13. There is a required payment for HST on a newly created building when 90 per cent completed;
14. There is no HST relief on expenses paid by a landlord;
15. There is a new annual Federal Underused Housing Tax Return to be completed with potential penalties;
16. There is going to be an annual county/city vacant unit tax return to be completed with potential penalties whether you have vacancies or not;
17. There are county/city permits to be completed if you have a rental unit.

The above are only a few issues for a small rental business.
These are the downsides to being a landlord. Consider carefully before getting into the rental business. Be informed and be aware of your responsibilities.
Jim King, Simcoe

Highway robbery or shrinkflation?

Do you ever get the feeling there’s less inside your favourite box of cereal or you’re not getting as much overall when you purchase groceries?

Even though you can’t quite put a finger on who to blame, it’s what has become known as “shrinkflation”. The practice of companies reducing the package size and the contents and charging more and you get less is just plain highway robbery.

For some consumers it can be very difficult because the grocery stores replace their inventory at higher prices.

Shrinkflation it isn’t new, but experts say it happens more often in times of inflation, which is happening right now.

The impact is on almost every kind of packaged products and fresh groceries. It is ripping off the consumers. Just think about it, you get less for your dollar and have to visit the grocery store more often.

Suppliers, grocery stores and the government are not doing anything about it.  Do you know why? The government gets more tax money such as GST and HST.

The government and the suppliers, plus the grocery stores, are laughing all the way to the bank at our expense.

Alan Morris   

Brantford