Government should support both Tenant & Individual landlord during Covid-19 panemic.

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CP 24 issued an Article about Tenants who can't afford to pay their rent due to COVID-19 will not be evicted. Ontario Premier Doug Ford recently announced halting all evictions in Ontario until further notice, which implied that tenants may not be required to pay rent and can't be evicted by landlords. This announcement has encouraged potential guilt-free rent strikes where tenants might simply withhold rents even if they can afford to pay and believe it’s within their rights to do so.

Did the government ever consider how that will affect all the individual landlords that rely on the rent payments to pay their mortgages, property taxes, insurance, condo fees and utilities of the properties that the tenants are living in???

If the government allows tenants to avoid evictions for not paying rent, then they should have a emergency fund for those tenants to obtain financial help or allow landlords to apply to the same fund for the rent be paid by the government to cover their monthly costs such as mortgages, property taxes, insurance, condo fees and utilities. It may be true that Tenants need help from the government, so do the landlords!

It is an unfair message that the government gave to all tenants, and put all the individual landlords into a potential financial challenge. Those landlords that’s rely on the rent to pay their mortgage may lose their investment when foreclosed upon by the bank.

The Ontario government should set up a “rent bank” to pay rents directly to small landlords for those tenants who can sincerely. prove that they have been laid off or had their working hours reduced. The government should also advise all tenants to pay their rent as usual if they can, but if they cannot, they can get help from government's rent bank.

Some banks have announced that they offer six-month mortgage payment deferrals on a CASE-BY-CASE basis. However, most landlords won't get any mortgage relief. The conditions from banks and especially private lenders are onerous. And it's deferral only, not forgiveness. The mortgage interest will be accumulated that will be an additional cost to landlords after the Covid-19 pandemic has eased. In addition, most banks and private lenders don't even allow deferrals for investment properties as they are not the primary residence of the owner.

We are small landlords who worked very hard to save some money to buy an investment property, or perhaps just rent out rooms in our own homes. We face the same issues (unemployment, or less working hours) as the tenants. We will quite possibly lose our homes and/or properties if the government tells Tenant, “You don't need to pay rent and you won't be evicted.” We will surely be facing a critical challenge if Tenants decide not pay their rent on April 1st.

We need immediate help from the Ontario government now!