What Landlords Risk When They Self-Manage: Ontario Property Management Mistakes That Cost You
In This Article:
- What Self-Managing an Investment Property in Ontario Really Means
- The True Costs of Self-Managing Investment Property in Ontario
- Legal Risks When Self-Managing Investment Property in Ontario
- How Property Managers Protect Your Ontario Rental Investment
- Should You Keep Self-Managing Your Investment Property in Ontario?
What Self-Managing an Investment Property in Ontario Really Means
Many landlords think that self-managing an investment property in Ontario will save them money. Not paying for property management seems like a smart choice. But the truth is far different.
Self-managing investment property in Ontario comes with many hidden challenges. Ontario has strict rental rules that change often. These rules can trip up even careful landlords.
Whether you rent out a house in Belleville or own units in Quinte West, doing it all yourself can quickly become too much. Before you decide to self-manage, you should know what you’re really signing up for.
The True Costs of Self-Managing Investment Property in Ontario
When you’re self-managing investment property in Ontario, you’re taking on many jobs. Most landlords don’t realize how much time these tasks will take:
- Taking emergency calls at all hours of the night
- Finding repair people and making sure they do good work
- Filling out legal forms like N4, N12, and L1 correctly
- Tracking rent payments and sending proper receipts
- Going to rental board hearings if there are problems
- Screening new tenants and checking their backgrounds
- Learning rental laws that apply in Ontario
As a landlord who is self-managing investment property in Ontario, you become a part-time lawyer, bookkeeper, and handyman all at once.
Warning: One small mistake on a form can set you back months in the eviction process. This can cost you thousands in lost rent.
Legal Risks When Self-Managing Investment Property in Ontario
Ontario has some of the strongest tenant protection laws in Canada. This makes self-managing investment property in Ontario risky if you don’t know all the rules.
Here are the top risks Ontario landlords face:
- Wrong notices: Serving an N4 or N12 form incorrectly can void your whole case
- Illegal fees: Asking for more than one month’s rent deposit breaks the law
- Entering without notice: You must give 24 hours written notice before entering
- Ignoring repairs: Not fixing problems quickly can lead to fines
- Wrong rent increases: You can only raise rent once a year, with 90 days’ notice
These errors when self-managing investment property in Ontario can lead to big fines or losing your case at the Landlord and Tenant Board.
You can learn more about the rules at the Ontario Residential Tenancies Act Guide.
How Property Managers Protect Your Ontario Rental Investment
When you compare self-managing investment property in Ontario to hiring help, you’ll see many benefits to working with pros. A good property management company offers:
- Legal know-how: They stay up to date on all Ontario rental laws
- Better tenants: They know how to find and screen quality renters
- Steady rent collection: They have systems to deal with late payments
- Lower repair costs: They work with trusted repair people at good rates
- 24/7 help: They handle middle-of-the-night emergencies
- Board support: They know how to handle tenant disputes
At Blue Anchor Property Management, we take care of all these tasks. This lets you enjoy the income from your property without the stress of self-managing investment property in Ontario.
Learn what property management costs: Property Management Fees Ontario: 2025 Guide
Should You Keep Self-Managing Your Investment Property in Ontario?
Ask yourself these simple questions:
- Do tenant issues take up too much of your time?
- Have you lost money due to vacant units or unpaid rent?
- Do you feel sure about your knowledge of Ontario rental laws?
- Has managing your property caused stress in your life?
- Can you keep up with changing rules for Ontario landlords?
If these questions make you worry, it might be time to stop self-managing your investment property in Ontario and get professional help.
Ready to protect your Ontario rental property and get your free time back?
Contact Blue Anchor Property Management today for a Free Property Check
This article about self-managing investment property in Ontario was last updated: May 17, 2025