Could you / would you do this?
Hypothesis. Weekly rent = $400.
You offer your tenant a $1k week-before-Xmas cash bonus for the year, each year, if the rent is paid on time, every time and all inspections in the year are satisfactory.
That would be around a weekly 'prompt payment' discount of around 4.8 or 4.9 per cent.
Section 32 (2) of the RTA 'outlaws' any such [weekly] discount, but should be overcome by not including an informally offered incentive within the TA.
One might have to be wary of the conflict in the RTA between:
That contradiction is typical of the pro-tenant, anti-LL RTA. I.e. MUST be in writing, but enforceable if NOT in writing.
What say y'all?
Hypothesis. Weekly rent = $400.
You offer your tenant a $1k week-before-Xmas cash bonus for the year, each year, if the rent is paid on time, every time and all inspections in the year are satisfactory.
That would be around a weekly 'prompt payment' discount of around 4.8 or 4.9 per cent.
Section 32 (2) of the RTA 'outlaws' any such [weekly] discount, but should be overcome by not including an informally offered incentive within the TA.
Any provision in a tenancy agreement to the effect that, if the tenant does not breach any term of the agreement or any of the provisions of this Act or of any other enactment, the rent shall or may be reduced or the tenant shall or may be granted or paid a rebate, refund, or other benefit, shall be construed as entitling the tenant to that reduction, rebate, refund, or other benefit in any event.
Originally posted by RTA
What say y'all?
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