Rental Owner's FAQs

We understand that rent collection is crucial for both tenants and property owners. Here’s how we ensure secure and timely payment handling:

• EFT Payments: Rent is collected via electronic transfer on the 1st of each month.
• Landlord Disbursement: Funds are disbursed between the 7th-9th of the month, depending on holidays.

We follow legal processes under the Residential Tenancies Act to collect overdue payments and, if necessary, initiate eviction proceedings

Renting to students can be highly rewarding for landlords. There is consistent demand every year as new Western University students seek off-campus housing.  Western alone has over 42,000 students, many of whom live off campus after first year (Facts & Figures – Western University). This steady tenant pool means student rentals near campus often have low vacancy. Moreover, students commonly rent by the bedroom with roommates, allowing you to charge per room and potentially earn higher total rent than a single-family. In fact, properties near universities can command 30–40% higher rents than those farther, and recent local data shows 3–6 bedroom student houses in London averaging around $900-$1000 per bedroom (Average Rental Prices – Off-Campus Housing Services – Off-Campus Housing, Advisor, Mediation, Services at Western University, London Ontario Canada) – a solid return for investors.

Of course, renting to students isn’t without challenges. Student tenants may be less experienced, and there’s a risk of property wear-and-tear, higher turnover each year, or noise and parties if not managed well. However, with professional management and clear rules, these issues can be mitigated. LS Rental specializes in student housing and implements strict screening and property checks to ensure your investment is protected. Many student tenants are responsible young adults – often with parental support – and with the right oversight, student rentals can be a profitable and stable investment.

Our property management team takes tenant screening very seriously, especially for student rentals. We advertise widely (including Western’s off-campus housing listings) and then vet applicants thoroughly. This includes checking credit history (if any), verifying funding (such as OSAP or parental support). Because many students are first-time renters with limited credit, we often require a guarantor – usually a parent or guardian. A guarantor is a creditworthy person who agrees to cover the tenant’s liabilities under the lease. For example, if a student roommate fails to pay their share of rent, the guarantor can be held accountable to cover it. This added security means you’re protected if any tenant cannot meet their obligations.

Beyond financials, we also look for responsible behavior. We may ask for proof of enrollment (to ensure they are students, if the property is designated for student rental). Our goal is to find respectful, serious students who will treat the property well. By setting clear expectations (noise, parties, upkeep) in the lease and having parental guarantors in place, we greatly reduce the risk of issues. Industry experts note that careful screening and lease co-signers are wise moves to minimize rent disruption, and we put those best practices to work for you.

Rent collection is a top priority for us, and we have a clear process to handle late payments. Most of our student tenants pay on time (especially with parental guarantors in place), but if a rent payment is missed, we act immediately. We send out a polite reminder via text/email to the tenant right after the due date, since sometimes it’s an oversight or technical issue. If we don’t get a prompt response, our team will reach out by phone and even in person if necessary. The goal is to find out why the rent is late – perhaps the student had a financial hiccup or simply forgot – and to arrange a solution.

If a tenant is truly unable or unwilling to pay, we don’t let the situation drag on. We will issue the required legal notice (Form N4 – notice for non-payment of rent) as early as the law allows, which starts the clock on a potential eviction if they don’t catch up. Often, the very act of serving an N4 along with involving the guarantor will resolve the issue – parents might step in to pay the arrears once notified. Throughout this process, we keep you informed but you won’t need to personally intervene. If it comes to it, LS Rental will handle the eviction process from start to finish on your behalf, including filing applications with the Landlord and Tenant Board and representing you at hearings. Our approach balances firmness and fairness: we work with tenants on a plan if they hit a temporary snag, but we also move decisively to protect your income.

With professional management, cases of non-payment are relatively rare and usually short-lived. We also mitigate this risk by having multiple tenants on joint leases – if one roommate falters, the others (and their guarantors) are jointly responsible for the rent, which adds a layer of security. Rest assured, you will receive your rent; either from the tenants, their guarantors, or via legal means if it ever came to that. We aim to keep your cash flow steady and solve any payment problems in accordance with Ontario law.

LS Rental takes a proactive approach to minimize and address any property damage or tenant misconduct. First, our screening and lease process sets the stage: and we include clauses in the lease about maintaining the unit’s condition. We are one of the few management companies that conduct a video move-in inspection with photos, so we have a record of the property’s state before tenancy.

During the tenancy, our regular inspections help catch problems early. If we find unauthorized alterations or neglect (say, walls painted neon green or excessive dirt), we will address it immediately with the tenants. Minor accidental damages (a broken door knob, a hole from a misplaced foot through drywall) will be fixed by our maintenance team, and we will bill the tenant for the repair if it was due to negligence or misuse. For more significant damages or cleanliness issues, we issue written warnings and require the tenant to rectify it (for example, professional cleaning if they’ve made an unhygienic mess).

In cases of serious damage or rule violations (like an out-of-control party causing property or neighbor issues), we will invoke the lease terms and potentially the guarantor. Often, the guarantor’s involvement incentivizes the students to behave – no one wants mom and dad to be notified that they punched a hole in a wall. For extreme situations, we are prepared to pursue the tenant for damages through the Landlord and Tenant Board or small claims court, but that is rare.

Overall, we emphasize preventive measures: durable materials in the property, clear rules and consistent oversight. Most students do not set out to cause damage, and with our guidance and quick response to issues, major problems are uncommon. Should anything happen, you can rely on LS Rental to handle repairs swiftly and hold tenants accountable, so your property stays in great shape.