Aim Low – Landlord Edition.

November 8th, 2017 · 1 Comment · Rental Property

AS IS Rentals

As is rental are not a legal class of rentals in Ontario. So imagine my surprise when I saw this ad from craigslist.  This is the actual ad link but it will expire shortly but I’ve saved this for posterity.  The picture above and the text below.

Hello,

I’m looking for someone Handy or familiar with Renovations to finish and live in my unfinished basement. Location is great: Toronto’s Junction/Bloor West Village Area. Close to High Park and Subway Access from Runnymede Station

– space is available for a 14*7 feet bedroom/office and living space
– private entrance off of side of home
– private bathroom and sink/laundry tub (separate from bedroom dimensions), possible on site laundry in 2018
– looking for someone to Frame, Sound Proof, Drywall, Mud, Paint, Install Sub floor and flooring
– wiring will be completed by a professional electrician (pot lights and proper switches, done to code)
– I will buy the materials, you do the labour at your own pace – previous renovation references needed
– Year to Year lease, looking for someone longterm who will enjoy the space
– Perfect for a single person, who basically needs a place to sleep/shower
– Absolutely NO Smoking, children or pets in or around the property

– $500/month rent including all utilities and internet (first and last rent collected in advance + 2 months to start buying materials)
– no parking on site, street parking available with permit
– open to any ideas or design plans for the space
– space is currently very unfinished, but could be great with the right vision
– this is in the basement of my family home, quiet and respectful.

Please let me know if you’re interested or any ideas you have.
I will be putting together pictures soon.

Thanks

No Happy Endings

The landlords I have known who have used this strategy have all been burnt big time. The work doesn’t get done, and the tenant ends up not paying rent and the apartment is half completed. In one case the tenant took the kitchen cupboards. In most cases, there are a lot of empty promises and non payment of rent. So while I’m not saying this arrangement has never worked out for anyone anywhere, as a practical matter in my career it’s been a nightmare.

Finally, the landlord is required by law to have the space in habitable condition and so theoretically this tenant could move in, and immediately file at the Landlord & Tenant Board to get back the excess rent above the amount of first & last, and force the landlord to get the space habitable for her/him and keep the $500 per month rent virtually forever. This ad is an invitation to predatory tenants.

Sometimes I just lack the words…

But let’s be crystal clear here, the scenario described is truly total shit for the tenant/contractor. The proposed scenario is to move into an unfinished basement, with bare concrete walls, no bathroom and start reno work for no pay except $??? per month, I mean you still have to pay $500 to live in a construction site. So you’re not going to attract the highest caliber of tenant or contractor. In fact that reminds of that couple who hired a local contractor with no truck who didn’t like to wear socks or underwear and then freaked out when their foundation collapses.

You get what you pay for.

Just don’t do it.

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One Comment so far ↓

  • Christine

    Wow. One of those ‘what-could-possibly-go-wrong’ scenarios. The would-be landlord is either very naive or wants to have his/her cake and eat it too. Or both.
    Interesting post, thanks Rachelle.

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