August 03, 2014
The biggest problem with room rentals is that tenants have the tendency to steal.
Many times, tenants see that you own a house and is collecting (their) money, they feel a self-righteous attitude that you owe them something. So the moment the tenant sees something they like in the house, they justify to themselves that it is ok to accidently take an item since they are the customers and the customers is always right.
And there is very little you can do because in Canada, stealing isn't really a big deal. In theory, it is a crime, but in practise, the cops have more important things to attend to.
Secondly, the moment you rent to an uncooperative tenant, you have a devil that is in your home leaving you vulnerable and an easy target for stealing, damages and violations.
This devil knows where you live. You can hide, but you can't run.
Getting a tenant out of a room rental where the landlord lives in the same house is acutally much easier than evicting a tenant in a separate location, but during the time the tenant is there, it could caues the landlord more havoc.
I have heard of cases of damages, stolen items and wreckless unaceptable behaviour. Just because they rent, they think they are Gods and deserve to be treated like one. Sometimes, these tenants don't even pay the rent. Further, since the landlord is conveniently close by, the tenant may have the tendency to bother the landlord for every little detail.
If you have a family or precious valuable items in your house, you do not want it stolen, so only rent out to people you know and trust.
Generally, as a home owner, you make more and have more money than the tenant. The tenant becomes envious when he/she sees all these nice items in the kitchen and living room that can be touched and taken so conveniently.
It becomes difficult to yell and evict the tenant which could cause the tenent to retaliate since the tenant knows where you, the landlord, lives! Some tenants have nothing to lose while the landlord has the house and may be a family to worry about, leaving you, the landlord, at the tenants mercy.
Room rentals where the landlord shared entrance or kitchen is not regulated or supported by the Ontario Renter's Tribunal. Social Law applies and this may or may not be a good thing depending on how experience you are with working with this law. Inexperience landlords often fail miserably causing them to lose a lot more than what it is worth.