Rewatch: Co-Founders, Weiting and Vishal, deliver the latest updates to Openroom; plus, hear Canadian rental market insights from the Rentals.ca team.
KEY TAKEAWAYS
We had a full house of 93 Operoom Community Members who joined in our Openroom Community Update Call on Wednesday, July 24, 2024 at 8:00PM to 9:00PM EST.
Agenda:
Most recent updates from Openroom
Rental industry Insights from our special guest
Interactive Workshop:"How might we give people a second chance in life when they have a court order for non-payment of rent inside the Openroom Court Order Search Engine?"
Feedback: Let us buy you coffee
Open Forum: You get to share and/or ask us questions
Rewatch the Openroom Community Update Call - July 2024 Edition
Please note that the rewatch has been edited for easier viewing purposes. As for the Community Openrom Forum and AMA, these 45 minutes we spent with the crowd after the meeting is not shared broadly.
Chapters in the video
0:00 Introduction from Co-Founder & CEO Weiting Bollu 0:30 Agenda Overview 2:25 Polling - I am a ... 3:28 Polling - I am from... 4:15 Weiting's Back Story 6:52 Resource for Housing Providers and Renters - The Ultimate Guide to the LTB 8:15 Resource for Housing Providers - 23-Page Preparing for Eviction Day 9:07 Community Giveaway 1 10:18 Progress Update from Openroom, with Co-Founder and CTO Vishal Bollu 12:29 How is Openroom Being Used? Helpful Tips on how to search for tenancy court orders 15:20 Our Community's Impact on Openroom in numbers 16:39 Investigation into Rental Debt Owing 18:06 Introduction to Openroom's new product release: Rental Debt Ledger 24:11 Community Giveaway 2 25:25 Rental Industry Insights from Rentals.ca, with Product Manager of Data Insights David Aizikov 44:53 Community Giveaway 3 47:38 Build the Future of Openroom with us - Interactive Workshop 48:44 Polling begins 57:35 Community Forum and AMA - Share / Help / Ask 58:18 September 28 SOLO Conference for Housing Providers 58:45 Openroom Community Call Event - October 2024 Edition 59:09 Winners of Giveaways & Superfans 1:00:00 Let us buy you coffee 1:00:52 Active Listing Booster code from rentals.ca 1:02:00 Conclusion - Thanks for tuning in!
Summary of the Call
Co-Founder and CEO, Weiting Bollu, shared resources for renters and housing providers such as “The Ultimate Guide to the LTB” and “23-Page Eviction Day Preparation Template”. Weiting led multiple interactive components throughout the hour with several freebies for attendees.
Co-Founder and Chief Technology Officer (CTO), Vishal Bollu, introduced the newly released Openroom Rental Debt Ledger, a tool to help housing providers recover their debts by reporting to Openroom’s official partner, Equifax, and helping housing providers track accrued interest to file subsequent Small Claims Court forms.
Product Manager of Data Insights at Rentals.ca, David Aizikov, led a conversation regarding market insights across the Canadian Market. Rents are declining on a year-over-year basis, across Canada.
The 1 hour and 45 minute conversation ended with giveaway announcements, discussions from the Openroom Community, and much more.
Resources Shared on the Openroom Community Call
We shared plenty of nuggets on this call and we promised to share the links to everything!
Resource 1: What happens when you go to the LTB? The Ultimate Guide
Housing Providers, it's time to accurately track accrued interest and payments to file Small Claims Court forms, and report the Rental Debt to the Credit Bureau to incentivize repayment. Are you ready? Openroom is working in partnership with Equifax to make this happen.
Request for an INVITE CODE (validuntil August 1, 2024 to do this free of charge)
Follow the steps instructed by the screen flow
Wait for our team to review and you'll be notified by email when it's ready to go out. you can track all of the progress in the dashboard directly at https://openroom.ca/dashboard/rental-debt once you submit your Rental Debt application.
We prompted the community to see how well they knew about the rental market. Three questions were asked and some knowledgeable + lucky winners took home prizes!
Giveaway #1:
Question - What is the most popular amenity across the country by search volume?
Answer - Pet Friendly
Winner - “Furbaby Mom” aka Ingrid
Giveaway #2:
Question - What is the most common country of origin for renters outside of the country looking to rent in Canada?
Answer - USA
Winner - Szuzanne
Giveaway #3:
Question - What market has the fastest-growing rents in the country as of June 2024?
Answer - Lloydminster, Alberta
Winner - Sal
Event: SOLO Conference - Saturday, September 28, 2024
Openroom is keynoting at the Small Ownership Landlords of Ontario (SOLO) 2nd annual conference celebration where housing providers gather together. It’s a time to meet fellow small landlords, property managers, proptech companies, and eat good food too.
Event: Openroom Community Call - October 2024 Edition
Happening on Wednesday, October 23, 2024 from 8-9PM EST (evening), we’re doing this again! Every 3 months, we bring you some latest progress from Openroom and from market insights from Canada.
We asked the 93 individuals on the call for input on how we should care for a hot topic.
Prompt: “How might we give people a second chance in life when they have a court order for non-payment of rent inside the Openroom Court Order Search Engine?”
Workshop Poll 1: Put yourself in the position of a tenant, you paid back rent owed, would you want your record deleted?
Put yourself in the position of a tenant: you have a court order inside Openroom for Rental Debt because you didn't pay the rent owed to the landlord.
1 year later, you were able to pay it off.
Would you want your entire record deleted from the Openroom Court Order Search System?
Results from the poll
Yes (59%)
No (23%)
Depends (18%)
Workshop Poll 3: Put yourself in the position of a Landlord, Tenant paid back rent owed, would you want Tenant’s record deleted?
Put yourself in the position of a landlord or leasing property manager, would you want a tenant's Rental Debt record to be completely deleted from the Openroom Court Order Search System?
Results from the poll:
Yes (4%)
No (80%)
Depends (16%)
Workshop Poll 2 / 4 / 5 / 6:
Expandable Q&A
Poll 2: "As a tenant..." perspective, please share a little more with us. What makes you say yes/no/depends?▶
Everyone should be responsible for what they did.
If I paid it, I would want it recognized that I eventually paid.
As a tenant, I would feel that I have met my responsibility and should not have a record. I have met my financial obligation even though late.
Deleting the record once the debt is paid off works as an incentive for a tenant who gets their act together. I would welcome such a measure if it would reunite me with the money stolen from me.
From the tenant's side, it gives them a chance to rehabilitate their reputation, but let's be clear: I want my money.
It may be because this tenant was put in a bind with this “exposure.”
If I paid it off, then it shouldn't be held against me (but only if I maintained all rent since as well).
If I was the tenant, then I would want my record clean for future screening.
Situations change for people.
Because it affects my credibility to secure housing.
Yes, because if I could avoid any consequences, why wouldn't I? It doesn't matter if it is fair or right.
If there is a way to track people who paid off their debt, it would be great to be able to search for that in Openroom (e.g., if there is a court doc that says it was paid).
Well of course the tenant is looking out for themselves whether they paid or not. But the fact is they did not pay.
No, because the new landlord who does the search should know the history of the tenant.
As one day I would be a landlord and would want to have all the information about the tenant available. I could always verify if the rent was paid later or not.
If you have a bankruptcy, it sits on your bureau report for seven years. You go to collections on something, same thing. Why should this be different?
If they paid off the debt owed, they deserve a break.
I was ultimately a responsible tenant that cleared my obligation to legally pay rent. Unfortunately, because my name is on Openroom, no future landlord who finds me will want to rent.
When I miss my payments, it shows on my credit for many years.
Just because I paid it back does not mean I won't do it again.
No, because just like any public record, it doesn't matter if it gets deleted, it will still be available on a government public site.
I picked NO, because it's more than an LTB decision. It's the process where LL has to take to get their property back into their full possession.
Incentive to pay it off faster.
Yes, because removing my name completely would help me to get a better deal with my future lease.
I said yes because if the person pays, they are a good person, and this should not be held against them. They have a responsibility to pay. I doubt many end up paying. I have had none.
If I am a tenant, I will prefer to not have my past circumstances held against me.
Yes, because people have life circumstances. If they pay it off, then grace could be shown.
Because the case has been closed. The problem has been fixed.
It doesn't get deleted if you pay a credit card one year late, so why would a delayed rent record be deleted?
If it is only one order, they deserve a second chance. They should be aware that the next time the records will stay for a longer time.
Picked yes. Having the record visible will continue to impact future opportunities to rent other units.
Because this is the history of this tenant, and if it went through LTB, it means it was an ugly situation.
So I can rent easier in the future.
From a tenant perspective, if I paid my debt, it should be acknowledged.
Other defaults on your credit report are not deleted, so it’s only fair.
If I was a tenant and I paid the debt, I would want it cleared from Openroom so that it does not affect my future rent.
Because it's still a court document, and the courts don't delete their files. The public has the right to see the information.
If they paid the full amount, it's fine to remove their name.
Anyone can get into a bad situation for many different reasons. No one deserves to be punished forever for one mistake or problem. But if it is repeated, that may be different.
Depends, because we want to make sure this does not happen again with another landlord.
I think the file could be marked 'paid' to let others know that the tenant was at least honoring their commitment to pay.
As a tenant, it would just make sense to have it removed. Why would you want it there?
Depends on what effort, money, or other it took to make them pay.
As a tenant, I don't want my name aligned with non-rent payment.
If I’m a tenant, and I’ve paid my rent, of course, I will not want it to impact me negatively for future landlords evaluating me.
With variable, it should state how and when paid off and proof.
I don't want anyone to know I don't pay my rent. It would be hard or impossible to rent from a different landlord.
Yes, as an incentive to be a good renter.
Incentive to pay and not be penalized for a debt paid in full.
The just thing to do usually depends on the context and whether or not it is likely to happen again.
Poll 4: "As a landlord / leasing manager..." perspective, please share a little more with us. What makes you say yes/no/depends?▶
Not deleted, but acknowledgement should be made that they had a court order against them but came good on it.
Other landlords need to know about these people.
Like credit payment history, it is a record used to predict.
If I was a LL or PM evaluating a potential renter, any OpenRoom-worthy behavior is an automatic NO for me, just like a speck of herpes is an automatic NO when contemplating a date.
It takes time for someone to reform. It’s best to have a “record” so this person remembers their mistake and learns.
Was the tenant transparent and open? Did they act in good faith to remedy the unpaid rent, and was the non-payment due to something out of their control or an extenuating circumstance?
It would be different if the government and banks had our back. However, they don't and are more than happy to take what we worked hard for after a few missed mortgage payments, which stay on our record for 7 years.
Other landlords need to know and let them ask questions and decide.
Future landlords should have this information to base decisions on.
If they had a life issue and then paid up as soon as possible, it would show good character and perhaps should be removed.
No, future landlords must know it was in the past and that rent debt may happen again.
It would be great to know if the tenant both had an outstanding debt and if they ended up paying it off, giving me flexibility to decide if I should take a chance on the tenant.
Still caused issues for the landlord; you were not as good as a tenant who was never late.
Any landlord searching should get the history of the tenant.
Transparency regardless of the remedy or outcome.
Tenant may have reasons for not paying rent, but these reasons need to be included in the case and evaluated by the next landlord.
If you caused the landlord to go through LTB, they can note you paid but should not be erased.
I want to have the most information available when screening potential tenants. I prefer a full record that shows they had a court order but resolved it.
My credit mistakes show on my credit for seven years; so should missed rent.
It represents financial responsibility.
Even if they paid it off, they still withheld rent for a prolonged period, putting me in trouble.
Since it is a public record, it doesn't matter if it gets deleted from one site; it will still be available on other government sites.
Once it gets taken down, the same behavior will repeat.
I believe in second chances.
No, because the tenant put me through this mess and may do it again without being pursued.
As a landlord, I prefer to have the conversation with the tenant and let it be my choice to believe them about the circumstances.
It depends because info is power for making good decisions regarding investments. However, we all deserve a chance.
If tenants intentionally pay off, then yes; if forced to pay off, then no.
I wouldn't immediately disqualify someone for having unpaid rent, but I want to know about their history before signing a lease.
It should be the same as any other debt: credit card, car loan, mortgage. You pay late, it stays on your record for seven years.
Having complete information helps make an informed decision about renting to a potential tenant.
Full accountability forever.
Landlord needs to know the risks.
Alert others and hold unpaid tenants accountable.
I want to know what happened before, even if it was a long time ago.
If you have a bankruptcy, it takes a specific time to get it removed. Amendment is important for a given time.
Other defaults are not wiped from credit reports; why is this different?
Landlords should know that the tenant had payment issues even if the debt was paid off.
We need to know what risk we are taking and the decision should be ours. The system is already rigged against landlords.
Court files should always be public unless a judge decides to expunge the record.
There needs to be a timeline based on payment of debt.
No comment.
It depends because not every circumstance is the same. Someone who doesn't pay is different from someone who experienced something beyond their control that caused them not to pay. Repeat offenders should be treated differently than first-timers.
I need it for research when vetting tenants.
Future landlords need to see it. It would prompt questions and clarification.
If you don’t pay your credit card, it shows for seven years. It shows payment patterns.
Transparency on rent payment history. If it shows as non-payment, I will see it. If the tenant paid, they can show proof.
As a landlord screening, I want to know if a prospective tenant had trouble paying rent as it means they could default again.
Tenants signed a legal obligation to pay rent on time. They breached their contract, and future landlords need to know their payment history.
Transparency.
They will do it again.
I want to assess risk with as much information as possible.
It’s more than the financial damage caused; it’s the stress and trauma as well.
Poll 5: Share a little more with us, what makes you say yes/no/depends?▶
Add a status of the Order, paid or not
Debt satisfied
Perhaps a very visible flag/alert/pop-up that would direct the viewer to review the additional information
Timeline
Mark it as paid in full
Email OpenRoom for update
Add a question: did tenant pay back what they owe, if so how much?
"Paid in full" + date + how long it took
Put a green checkbox or green shield icon next to court orders that were paid off
Late, but paid in full after x months
Late payment
In bold at the very start of the result - PAID IN FULL
Add an amendment, continue the story
A clear visual indicator visible in the search results (e.g., "PAID IN FULL" or "CLEARED")
Can't answer
How fast the tenant paid it back and what their existing Credit Report and Score are
Upload some sort of proof of payment in full and sign off from the landlord or something
An updated order stating that payment has been made in full
Explain the whole story of what happened
Add an attachment to the Court Order
Stamp on the OpenRoom order on page one that the person has paid the rent in full
Checkbox
Paid off after order
Put an indicator that it was paid, and when
Don’t know
Acknowledge that after such a time the tenant paid back in full
Footnote
Say this record has been paid in full
Just mark paid and date fully paid on the record
Paid off x amount of days after order
Title it "rectified"
The court order should state this was resolved
Add an addendum that it’s paid in full and how it was paid (length of time)
With a tag or label on the order. But also need proof that they are paying rent regularly now. Otherwise, there could be another case before the LTB that I may not know about, especially if the court order wasn’t uploaded
Details to ask potential tenants to see if they tell the truth
With a rating system like credit ratings
Poll 6: Assuming the Rental Debt record is not deleted, and someone has paid back their Rental Debt owing PARTIALLY, how might you indicate in the Openroom Court Order Search System?▶
The payment status in OpenRoom would be helpful for both parties.
Partially paid, with dates at the bottom of the order.
Can’t answer.
Added status: paid partially, not in full. Get a confirmation from the landlord.
Partial payments received.
Similar flag/red stamp on the order itself indicating that some moves have been made to satisfy the debt.
State partially paid. Provide a reason in a follow-up.
Honestly, I don't think it matters; should be fully paid or not at all.
Debt repayment in process.
Debt still not satisfied.
Colour-coded yellow and indicate the percentage of payment paid.
No change until the full debt is paid.
Make flags green or yellow for full and partial payments.
Specify how much the landlord received in payment from the tenant.
Partial payment + outstanding balance.
Another flag: yellow "warning" icon for partially paid, green for paid, and red "X" for not paid.
Partially paid with the number of months in arrears.
Indicate the partial payment by either an icon or clear words.
Rent still outstanding.
No change, still carrying an outstanding balance.
Still pending in red.
In progress of repayment pending.
Doesn’t need to be indicated; they still didn’t pay their debt.
Give it an orange status.
Have the whole story of the situation explained.
An attachment to the court order to show that.
I would leave it as it is until paid in full.
Coloured flag as others suggested: orange if only partially paid.
Have options from earlier questions, like a flag for full or partial payment, or tenant rebuttal with proof.
Partially paid.
Yellow flag or something that indicates further review of the record might be needed to have proper context.
Ongoing payment agreement.
Include some type of flag indicating partial payment. Also, indicate if a payment plan is still in progress or if the tenant chose not to pay the remainder.
Yellow indicator for partial payment.
Not paid in full - nothing to indicate until they pay.
Show balance owed and how long.
Update for any payments, whether in full or not.
Yellow flag instead of green for full payment.
Same idea: put a paid-in-partial indicator. Make sure the update takes as long as LTB orders take to process.
Add an amendment: if they did it once, they’ll probably do it again.
It could be included as how much is paid, but it still doesn't change the fact that the landlord had to go to LTB to force payment; that shouldn't be forgotten.
Yellow flag for partial payment.
Indication of the total and what's paid.
Similar to the last scenario: add an addendum with an explanation or flag the file to show that there is more to the story.
Again, with an indicator stating it's partially paid.
Part payment received. Still owing...
Makes no difference; as long as there are still some outstanding payments, it is still a debt.
I like the icon suggestions.
Addendum with notes on how much was paid, the length of time it took to pay it, and if payments are continuous.
Tag: rent still outstanding.
Nope, full responsibility.
Similar to a credit report: original amount with date and amount at the current date.
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Weiting Bollu
Mom, Rental Housing Provider, Rental Housing Advocate, Educator, and Openroom Co-Founder & CEO
About the Author
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!
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Webinar: Co-Founder's Community Update Call (Wed. October 23, 2024)
Weiting Bollu
Webinar
Join Co-Founders Weiting and Vishal for updates on Openroom, industry insights, and an interactive workshop!
