The parallels between Canadian childcare operators and small-scale housing providers
Co-founder
What do Canadian childcare operators and small-scale housing providers have in common?
Read More
When tenants default on rent, the system’s slow enforcement and backlog at the Landlord and Tenant Board (LTB) allows them to stay in properties without paying for extended periods. If you are a small landlord, rental income from your property is most likely used to cover your mortgage, maintain the property, and cover your expenses.
Dealing with non-payment of rent without a clear path of recovering these arrears made me feel angry, frustrated, worried about my property, and at times even hopeless. I know from listening to all of your stories, that I am not the exception in having this experience.
This is the top problem Co-Founder Vishal and I wanted to solve when we embarked on building the Openroom Rental Debt Ledger to negatively impact credit scores and credit reports when a tenant does not pay rent. This past week, we verified several distinct tenant profiles to know that our 2-year journey of ideating and testing with you, our Openroom community, works. It works!!!!
We answered the question of "How do I know rental debt I reported through Openroom has hit Equifax?"
When Openroom hits the Equifax credit report for unpaid rent, 5 distinct attributes are shown.
1. It's under the COLLECTIONS section.
2. It says OPENROOM.CA RENTDEBT.
3. It says the Landlord's name.
4. It says the amount owing.
5. It indicates it is UNPAID.
On the 15th of every month, we calculate the interest owed on the rental debt and send the latest amount owing on the rental debt court order into Equifax. Then, we can help you do an verification to see if it showed up on the report (optional).
Every other Sunday, Openroom subscribers receive a newsletter straight from me, packed with the latest rental market news, insider tips, and updates on what’s happening at Openroom! Subscribe to Openroom’s newsletter.
It’s all useful, no fluff. By subscribing, you’ll also be part of a community that values civic engagement. Our newsletter helps us gather your thoughts on key issues through quick polls, ensuring your voice is heard.
Weiting's entrepreneurial journey began with a costly lesson in rental property management, where she experienced losses exceeding $35,000 due to non-paying tenants. Determined to prevent others from facing similar challenges, she built Openroom to pave a future towards a transparent and connected rental ecosystem.
Drawing from her extensive background in software product management spanning education, telecommunications, insurance, and artificial intelligence, Weiting has become a trusted advisor to founders of venture-backed companies. Beyond the tech sphere, Weiting managed properties for over a decade and made significant contributions to community leadership. She’s served on the Board of Rotary District 7070 and chaired various organizational committees.
Weiting balances her professional endeavours with being a parent of two kids under two. Alongside thousands of other parents, she was awarded participation trophies in innovative improvisation, ever-changing expectations management, daily roadmap planning, and hardcore patience!
.png)
