How much is a reliable student tenant worth against a C$1,150 rent gap?

C

coffeeAndVale

Homeowner
Market asking rent for comparable student housing in Montreal appears close to C$13,450, while the current rent is about C$12,300. The tenant pays reliably and takes care of the home, so I’m considering a modest adjustment rather than chasing the full apparent gap and risking vacancy, turnover and refurbishment costs.

How would you structure a fair, repeatable rent review within local rules? If the tenant leaves, I also want one consistent screening process rather than making exceptions case by case.
 
I’d start by pricing the downside of losing this tenant: likely vacancy time, cleaning or refurbishment, advertising and the uncertainty of the replacement’s payment and maintenance habits. Then compare that total with the extra rent you could realistically collect, not merely the advertised figure. A reliable tenant can make accepting some gap rational. Confirm the Montreal notice and increase process before proposing any amount.
 
Are C$13,450 and C$12,300 monthly totals, annual totals or amounts for an academic term? Also, are the comparables entire properties with the same number of rooms and similar lease arrangements? Student housing advertisements can look comparable while bundling the rooms or lease periods differently, so that missing detail could materially change the conclusion.
 
Chasing C$13,450 could trigger an expensive turnover, while leaving C$12,300 unchanged may ignore a genuine market gap. Neither choice makes sense until the amounts, lease periods and comparables are confirmed. I would also review the maintenance record before discussing an increase, then follow the Quebec notice process separately from the informal conversation. Any deposit issue should be checked under the same local rules rather than folded into the rent calculation.
 
Lara’s unit question is essential, but the framework works either way. Put two scenarios on one page: retain at a locally compliant adjustment, or replace at a conservative achievable rent after vacancy and preparation costs. Include a range for vacancy rather than assuming immediate occupancy. If replacement still wins only under the most optimistic assumptions, retention is probably the stronger business decision.
 
Before contacting the tenant, verify the current Quebec procedure, dates and permitted basis through an authoritative local source. Then prepare a short explanation covering the proposed amount, the property’s maintenance history and why you value reliable payment and care of the home. If turnover occurs, document screening criteria in advance and apply them consistently. Handle any deposit question separately under Quebec rules rather than importing practices from elsewhere in Canada.
 
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