Assetsoft - Blog #Ontario

Future-Proofing Ontario Multifamily: Navigating Bill 60 Reforms with Yardi Expertise

Tue, 04 Nov 2025 06:21:23 -0500

Ontario's rental landscape is undergoing a significant transformation with the introduction of Bill 60, the Fighting Delays, Building Faster Act, 2025. This omnibus legislation is designed to address the province’s housing crisis by accelerating development and, critically for the multifamily sector, implementing major reforms at the Landlord and Tenant Board (LTB).

For apartment owners and managers, these changes aim to speed up resolutions, define persistent issues, and simplify processes—they aren't just new rules; they are a critical mandate for operational and technological overhaul. As leading experts in multifamily rental technology and Yardi specialists in Ontario, we understand that proactive compliance and process optimization are non-negotiable for future success.

Key Tenancy Reforms in Bill 60: The Operational Impact

While the government has wisely backed away from controversial consultations on changing Ontario's "security of tenure" (month-to-month lease) framework—a significant win for market stability—the bill still introduces several concrete amendments to the Residential Tenancies Act (RTA) that will directly impact property management operations.

Here are the critical changes multi-family operators must prepare for:

Expediting LTB Processes: Bill 60 aims to reduce the massive backlog at LTB. This includes a proposed change to limit a tenant's ability to raise new issues at rent arrears hearing unless they have given prior notice and, in some cases, paid 50% of the claimed arrears. This mandates a cleaner, more documented approach to tenant communication and debt management.
Reduced Notice Periods for Review: The time a party must request a review of an LTB order is being shortened from 30 days to 15 days. This significantly increases the need for prompt internal notification, documentation review, and timely legal action.
Defining 'Persistent' Late Rent: The legislation proposes new regulations to define what constitutes "persistent failure to pay rent". A clear, standardized definition will transform how chronic late payments are handled and documented across your portfolio.
Owner's Own Use Evictions (N12s): Landlords who give 120 days' notice for an N12 eviction (landlord's own use) may no longer be required to provide one month's rent compensation to the tenant. This change requires precise tracking of notice dates and documentation to ensure compliance and avoid liability.

These reforms pivot the sector toward faster, more data-driven, and legally precise processes. The days of relying on manual systems or siloed data are over.

Yardi as Your Bill 60 Compliance & Optimization Partner

The complexity of these RTA amendments highlights why multi-family operators need a robust, adaptable, and integrated Property Management System (PMS) like Yardi. Our expertise lies not just in Yardi deployment, but also in configuring it as an active compliance tool within the uniquely regulated Ontario market.

1. Automated Compliance and Documentation for LTB

The LTB changes demand impeccable record-keeping and precise adherence to new timelines. Yardi Voyager and its related modules can be leveraged to:

Streamline Arrears Management: Configure workflows to automatically track rent due dates, issue standardized notices (like the N4), and record all communication, providing a single, verifiable audit trail for LTB applications.
Enforce New Timeframes: We ensure your system is configured to flag the 15-day review period immediately upon receipt of an LTB order, minimizing the risk of missing critical legal deadlines.
Standardize 'Persistent Late Payment' Tracking: Once the final definition is regulated, we will implement new reporting and automated flagging within Yardi to consistently and objectively track this violation across all tenancies.

2. Precision for Owner's Use Evictions (N12)

The compensation exemption for 120-day notice N12s requires tight controls. Your Yardi system should be the central hub for:

Notice Tracking: Automating the calculation and tracking of the 120-day notice period to ensure your action aligns with the RTA's new compensation requirements.
Audit-Ready Records: Generating time-stamped documentation of notice delivery, tenant communication, and property status for any potential LTB challenge.

3. AI-Driven Data Integrity for Faster Resolutions

The push to reduce LTB delays calls for higher-quality, readily available case information. Yardi's powerful reporting and analytics capabilities can be utilized to:

Generate Pre-Hearing Reports: Instantly pull comprehensive reports on tenant payment history, maintenance logs, and communication records, ensuring you disclose all relevant information well in advance of a hearing, in line with the LTB's move to prevent "trial by ambush."
Identify Risk Profiles: Use Yardi's data to flag at-risk tenancies earlier, allowing your team to deploy preventative measures like mediation or payment plans before the situation escalates to a lengthy LTB dispute.

Our Commitment: Your Seamless Transition

For multi-family operators, Bill 60 is an opportunity to move from reactive compliance to proactive operational excellence. By leveraging our deep expertise in Ontario's RTA and Yardi's robust capabilities, we can ensure your technology foundation is not just compliant but also optimized for efficiency and growth in this new regulatory environment.

Don't let LTB reforms become a burden. Turn them into a competitive advantage with a finely tuned Yardi system. Call Assetsoft for consultation

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Canada's Hotel Industry Seems to Rebound in August

Mon, 13 Sep 2021 01:07:15 -0500

With the pandemic waning, most of Canada’s provinces have reopened using a step-by-step approach. For the country’s hospitality industry, this means more people, tourism, and revenue.

Last year, the hospitality industry was one of the hardest-hit sectors due to the pandemic. The hotel occupancy rates plummeted to an all-time low in April 2020, with 81.2% of the hotels being vacant. Now, the industry is already seeing a gradual recovery, with Toronto hotels having a 43% occupancy rate in July.

Adding to it, the Canadian government has introduced new measures which allow more tourists into the country. With these guidelines, more international tourists are willing to visit Canada for business and leisure. What does this mean for the Canadian hospitality industry? Read on to find out.

What was expected?

The sudden travel ban due to Covid-19 forced hotels to shut down or work on a low revenue. As the sector hit rock bottom, many industrialists were hoping to drive occupancy in the coming years. A study by HVS predicted a 15% rise in the market value of the Canadian hotel industry in the year 2021.

Hotels attempted to reduce losses by offering rooms and services at a discounted price. Yet, due to the Covid crisis, not many preferred traveling or staying at hotels. But, as predicted, 2021 has been a promising year for the hospitality industry.

According to CBRE, a commercial real estate company, hotel occupancies across major Canadian cities will range from 31% to 37% this year. Though these rates are far from pre-pandemic times, they are showing a gradual increase when compared to the rates in 2020.

What boosts the recovery?

With the vaccination rates increasing all over the world, more people are open to international traveling. Several countries, including Canada, have eased the guidelines and allowed international tourists to enter the country. From a surge in leisure tourism to essential business travel, many factors are boosting the hospitality industry in Canada.

Reopening of provinces

The country is gradually reopening provinces using a methodological approach. Some states are in the last stage of reopening, while others, like Ontario, are in the second or third stage.

Residents are seeing it as an opportunity to travel within the country. Boosting the revenue of the hospitality industry. A report by CBRE states that domestic travel is the key to driving hotel occupancy, with a 75% to 80% share in the total tourism revenue of Canada.

Provinces like Ottawa are coming up with programs to boost tourism. Hotels in the province are offering packages at discounted rates, especially for advance bookings.

International tourism

Canada welcomed the U.S. citizens and permanent residents back into the country starting August 9th. Lifting a 17-month travel ban across borders, the country mandated all travelers to be fully vaccinated.

Later, on Sept 7th, the Canadian government introduced new guidelines for international visitors from other countries. The measures make it easy for tourists, both essential and non-essential, to travel to Canada. Out of the several guidelines, visitors are required to produce a Covid-19 molecular test report and also be asymptomatic.

As international travel reopens, the industry counts on “revenge travel” by tourists who couldn’t travel during the pandemic. Even otherwise, the country can expect a surge in the hotel industry revenue due to non-essential travel.

Essential business travel

Business travelers from across the world want to travel again to boost their business. Many believe that their business will suffer without traveling. A survey by SAP Concur reveals that 96% of the participants are willing to travel for their business in the next 12 months. Among them, 36% want to stay in hotels on their next business trip.

What does the industry want?

Even though hotel occupancy rates are gradually rising, the hospitality industry is facing new problems. Several hotels are unable to return to the pre-pandemic condition due to the following reasons.

Labor availability

As the industry revenue plummeted, many hotels laid off employees due to the lack of business. Now, as the business recovers, hotels are finding it difficult to rehire staff. Very few have returned to their previous company and many have joined other businesses during the pandemic.

Vaccine Passport

The hospitality community is also pressing for a vaccine passport to keep its employees safe. Hotels will treat such passports as proof of vaccination, and allow customers to enter restaurants, lodges, and other buildings.

As the hospitality industry requires close interaction between people, a vaccination passport is essential to maintain the health of all its employees. As Tony Elenis, president of ORHMA, told CBC, vaccine passports are one of the most efficient ways to protect the industry from another lockdown in the face of the delta variant.

What can we look forward to?

Many industrialists believe that the hospitality industry will see a full recovery in the coming years. The HVS Hotel Industry Outlook report predicts a return to normalcy by the year 2024.

Even though tourism is increasing hotel occupancy, considerable revenue only comes from large bookings such as meetings and conventions. Currently, hotels are receiving fewer bookings from smaller groups for events and meetings. But larger conventions are generally booked in advance, hence, hotels are looking towards 2022 or even 2023 for considerable business.

Additionally, hotels are also relying on the increase in vaccination rates to boost their revenue. As Canadian guidelines require tourists to be fully vaccinated, increasing vaccination rates are making more people open to international travel.

Prepare for the rising demand with Assetsoft

Assetsoft helps clients find the perfect property management software through integration. Be it Yardi or MRI, we combine the required features into a single platform. We work together with you to understand your requirements and build tailored strategies for your business.

Our software integrations help you improve tenant communication, collect online payments and analyze property data. We ensure continued support in the form of data integration, software health checks, and staff training. By choosing Assetsoft, you don’t have to worry about your technology needs anymore!

Talk to us at Assetsoft and find the perfect property management software you need!