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Facts

During the period 2009-2010 the Landlord and Tenant Board of Ontario received 78,072 applications, of that 54,109 were for-nonpayment of rent. Based on the average 2010 monthly rent of $934.25, the estimated financial loss to landlords would exceed 100 million dollars. This staggering figure is providing the property owner began the eviction process immediately, and the tenant was removed within 60 days. However odds are that total is much higher.

Ref. Landlord and Tenant Board of Ontario - Annual Report 2009-2010 CMHC Rental Market Report - Spring 2010

The Problem

Being the professional landlord you are, on the 4th day of the month you have yet to receive your rent which was due on the 1st.  You immediately start the eviction process.  Thirty days go by no rent collected and you are preparing for your hearing with LLTB.  The member issues a standard order, tenant owes you the money, and has x number of days to get out.  Unfortunately this is the best case scenario when dealing with a tenant that doesn't pay.  And it is costing Ontario landlords millions of dollars each year.
54109 (L1 Applications filed in Ontario 2009-2010) x $934.25 (Average 2010 Monthly Rent in Ontario) = $50,551,333.25 Lost by Ontario Landlords if only 1 month rent was lost in each of these 54,109 cases.

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$100 MILLION DOLLARS A YEAR IN UNPAID RENT IS ENOUGH.