@Jolly said in Remind me not to become a landlord in DC:
So, why be a landlord? Good tenants can make you, bad tenants can break you.
Good question. Our home has a two bedroom suite with full bath, laundry, and kitchen. Total area is about 1100 square feet. When we bought the house 25 years ago, we thought we would rent the suite and pay down mortgage. When we looked over the Provincial Landlord and Tenant Act and the supplementary municipal bylaws we decided against renting it out. The hoops a landlord has to go through to evict lay damage claims. Forget it.
What we did instead for the first seven years was sign up with the student home stay programme. Does not fall under any the L & T Act or bylaws and you are paid cash. As the homeowner we had unfettered access to the suite 24/7. If your student causes trouble the agency immediately relocates them. Worked out to $600 / month cash towards the mortgage and taxes. Never had any problem. Most of students essentially became part of the family during their stay. Our favourite was a grad student from Mexico. Damn, could she cook great dishes!