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If you paid interest of more than $50 to any tenants on returned security and/or pet damage deposits in 2024, Canada Revenue Agency requires you to issue a T5 slip (investment income) to the tenants.
The vacating tenants are supposed to give you their SIN to include on the T5. Even if they don’t, if you have a forwarding address, you should issue the T5. CRA can fine you for failing to do so and also fine the tenants for not reporting the income.
Filing for a Monetary Order
If you file for a Monetary Order, you must prove to an RTB arbitrator that you suffered a loss caused by the tenant(s) and what the amount of loss was.
In making their decisions, arbitrators apply what is known as the Four Part Test:
If you apply for a Monetary Order and satisfy all four parts, you will likely succeed.
You're receiving complaiints that 306 is disturbing 308 and 308 is disturbing 306. What should you do? First satisfy yourself that both are disturbing each other; this is not one-sided. You are not required to attempt to solve this dispute; you are not a mediator, arbitrator, or counsellor. Send both tenants the same letter, addressed to both of them, stating they must stop disturbing each other and recommend they seek outside help. If the disturbances and their complaints to you do not stop, you will have no alternative but to end both their tenancies.
Either a landlord or tenant filing a monetary claim with the Residential Tenancy Branch must satisfy what arbitrators refer to as the Four Part Test to succeed with the claim.
· a party to the tenancy agreement has failed to comply with the Act, regulation, or tenancy agreement;
· loss or damage has resulted from this non-compliance;
· the party who suffered the damage or loss can prove the amount or value of the damage or loss; and
· the party who suffered the damage or loss has acted reasonably to minimize that damage or loss.
In considereing whether to apply for a monetary order against a tenant or ex-tenant, apply this test to your situation.