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Yukon Rental Agreements

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Health impacts aside, COVID is a massive disruption, but I hope for us in The Yukon, in the short term of supply and demand in the housing market, especially at the price that the market…

Health impacts aside, COVID is a massive disruption, but I hope for us in The Yukon, in the short term of supply and demand in the housing market, especially at the price that the market (tenants) can afford given the decline in incomes. The economic response to this should be a drop in prices for a short time. After all, all of a sudden, there is no longer a long line of tenants with an income to take the unit when you even try to evict your tenant. So if you do, expect the next tenant to have a lower rent anyway, or you may even end up with a vacant unit that costs you even more income. Come this April 1 with a little flexibility, compassion and patience, and once income support programs come into effect, most tenants should be able to pay most, if not all, of the rents due. Most landlords should have enough space to handle 20% rent in less than a few tenants for a few months. Otherwise, you`re probably over-indebted in the first place. Banks don`t want to take your property now, the last thing they need. You know it`s not your fault, foreclosure is a complex and expensive process that takes a lot of time. You don`t want your home not to be able to sell them. Landlords and tenants – you have to share some of this pain.

“The government” will not be able to cover everything for everyone, as if nothing had happened. The measure covers all leases, including those held by Yukon businesses. Consider this scenario for those who denigrate landlords: the government wants to end hunger (great ideology). The government is developing a new initiative to feed these hungry people: they order all restaurants to feed the hungry. The hungry cannot pay. Are the restaurants that were ordered to feed them now responsible for paying for the food needed to implement the government`s honourable initiative? I don`t think so. Certainly, there would be a plan for these restaurants to cover their costs of providing these meals by the government. This is essentially what everyone seems to be demanding of the owners. The government says you can defer your rent payments for up to three months without the risk of eviction. I do not disagree with this initiative; I support the provision of assistance to all those who need it in these difficult times.

BUT – Why should homeowners be financially responsible for paying for the government`s new initiative? The government should also put in place some sort of system (and I read in the press release that politicians will now consider the needs of landlords, so congratulations to the minister for that) to support landlords who might not receive rent as a result of this government initiative. And before you beat me, I have enough to cover my rent mortgage payments for three months, and I`ve already spoken to my most vulnerable tenants to make sure they knew they wouldn`t be evicted if they were late with their rent (and that was before the government announced this initiative). However, if this continues and all our tenants decide to defer their rent payments, we will need help, otherwise we will lose our rental property. If every homeowner lost their rental property because they couldn`t afford their mortgage, there would be even fewer rental apartments. Think. We see ourselves as providing essential housing, filling gaps in government services. Lack of affordable housing, etc. We are not slum lords and try to keep the rent as affordable as possible. We took a financial risk to help people who need a place to live. And now you want to discredit me for that and make me pay for a government initiative? I look forward to seeing how the government will protect homeowners who are vulnerable to the loss of their properties as a result of this (necessary) initiative. Use this handy kit to document the rental of a residential property. The forms include credit information forms, pet rules, subsequent rent application, termination to end the tenancy, and much more.

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