A recent decision by the Ontario Superior Court in Covers v. Bumbia has significant implications for Ontario landlords when it comes to renting out apartments and condos. Paul Kondakos, president of RealtyHub, offers an insight into this ruling and implications for both parties.
A little history … it is illegal for Ontario landlords to request or accept anything more than first and last month’s rent upfront from a new tenant. If brought before the LTB (Landlord and Tenant Board), the landlord would in all likelihood be ordered to pay back the tenant anything over and above the first and last month’s rent.
Covers v. Bumbia changes the rules. Without getting into the facts of the case itself, the salient points of the decision are as follows: