What is the best province to be a landlord? - RedFlagDeals.com Forums (2024)

I was thinking of investing in Quebec, but I know it's perhaps the worst province to be a landlord. What are the best provinces to be a landlord in Canada? What about Alberta?

Thank you

I think it depends on what kind of investment you're thinking about: building something from scratch, buying a single condo, or buying a 100 unit building.

On the plus side, if you're a long term investor, the laws in Quebec can't get much worse so you've got lots of upside potential.

FrancisBacon wrote: ↑I think it depends on what kind of investment you're thinking about: building something from scratch, buying a single condo, or buying a 100 unit building.

On the plus side, if you're a long term investor, the laws in Quebec can't get much worse so you've got lots of upside potential.

Ha ha!!!

In all fairness, I don't think I'd ever want to be a landlord in Quebec but in general real estate prices there are quite low so there is still opportunity. I think you really just need factor in the risks (e.g. instead of simply factoring 10% vacancy rate, you bump that up to 30% or something. If it's still profitable at 30% vacancy, it might be a worth investigating).

divx wrote: ↑^what's the big deal about alberta?

Cold dry climate. A perfect place to setup Israeli servers!!

michelb wrote: ↑Ha ha!!!

In all fairness, I don't think I'd ever want to be a landlord in Quebec but in general real estate prices there are quite low so there is still opportunity. I think you really just need factor in the risks (e.g. instead of simply factoring 10% vacancy rate, you bump that up to 30% or something. If it's still profitable at 30% vacancy, it might be a worth investigating).

rental laws are strongly biased in favor of tenants in Quebec. Collecting money out of deadbeat tenant is a long arduous process.

Alberta is boom or bust it is great to be a landlord in boom times, it will bankrupt you in bust times. People let go in bust times tend to leave for their home provinces in the middle of the night. Thinking screw the landlord he gouged my eyes out all this time for rent so they won't miss a few months in the end LOL. l

Seriously, look into price of oil per barrel now vs what is break even for a barrel from the tar sands production.... IF it is close to the tipping point STAY AWAY from Alberta for a while.

divx wrote: ↑^basically rent is very expensive in quebec, to cover for the loss

Actually rent is painfully low in Quebec compared to other places in part due to restrictive laws against increasing rent on tenants.

noahboady wrote: ↑...New Brunswick...You can also raise the rent as much as you want.

NB seems interesting, but my quick Googling suggests that after 5 years there is strong rent control. Do I read that wrong?

mr_raider wrote: ↑rental laws are strongly biased in favor of tenants in Quebec. Collecting money out of deadbeat tenant is a long arduous process.

Well, in fairness, collecting money from people who don't have any will always be hard. :-)

divx wrote: ↑^basically rent is very expensive in quebec, to cover for the loss

As has been pointed out, rent is very cheap in Quebec. The effect of rent control has been two fold: it has lead to (1) a severe decline in the quality of buildings as owners aren't able to afford needed long term maintenance, and (2) an almost complete stoppage of new rental buildings.

Bullseye wrote: ↑Forget long term renting, just rent short term on AirBnB, no anti-landlord laws to worry about there.

It's illegal in Quebec (and I assume many other places) to rent for less than a month unless you submit to hotel regulations.

FrancisBacon wrote: ↑NB seems interesting, but my quick Googling suggests that after 5 years there is strong rent control. Do I read that wrong?

Not sure what you read. My information says the landlord can:
Demand a security deposit equal to 1 month's rent.
Order a delinquent tenant to vacate within 15 days. The tenant has 7 days to cancel the eviction order by paying the full amount due.
May charge a late payment fee
May raise the rent by any amount, after giving notice. The notice has to be given either 2 months ahead of time or 3 months ahead of time, depending on the terms of the rental agreement.
May cancel the tenancy for any reason, after giving notice in writing. Notice has to be given from 1 week to 3 months ahead of time, depending on the terms of the rental agreement.

All this might seem like normal common sense, nothing special, but compare it to how things are stacked in favour of the tenants in Ontario and I guess Quebec.

noahboady wrote: ↑Not sure what you read.

57. Can the landlord increase the rent of a long term tenancy?: [...] The landlord may only increase the rent fairly and by the same amount as other similar units in the same building. Or the rent must be increased only by what is reasonable in other similar units in the same area.

59. How does a long-term lease end?: [...] written notice. He/she must also give the reason in the notice. The only acceptable reasons are:
if the landlord or his/her immediate family want to live in the rental
if the rental will be used for something other than residential premises
if the rental will be renovated significantly
if the tenant is working for the landlord maintaining or managing the rental, and the job ends.

So basically, after 5 years, it's similar to Quebec. But I agree that in the first 5 years, it's much more liberal.

Source: http://www.snb.ca/e/1000/1000-2/e/1000-2_003_e.asp#12