Let’s break down how Openroom gets to the final amount owing each month.

How Openroom calculates the amount owing by the Debtor to the Creditor

<aside> 💡 Who can use this feature

• Anyone on the Openroom Community plan
• Anyone on the Openroom Plus plan </aside>

Contents

Definitions

• Creditor - the party who is owed money. In a non-payment of rent situation, this is the Landlord.
• Debtor - the person who is owing money. In a non-payment of rent situation, this is the Tenant.

Why is Openroom calculating the amount owed and not the Creditor?

There are many reasons we do not let a landlord write the owing amount.

1. Tribunal Orders and/or Court Orders are difficult to read. 99% of the time, we see people (even Legal Professionals) misinterpret what the Order actually says.
2. Impacts of wrong amounts to an individual’s credit history. As a Consumer Reporting Agency, Openroom is responsible for ensuring we get the most factual and the most accurate data reported into the Credit Bureau.
3. We know the intricacies inside and out. Our staff at Openroom have spent thousands of hours looking at Orders and checking with experts in the field to ensure we have the calculations done right.

How do you calculate for Ontario Landlord and Tenant Board Orders?

In a N4/L1 - Nonpayment of Rent Landlord and Tenant Board (LTB) Order, there are 3 components we are looking for in a “Standard Order” that make up the calculation behind the math.

The math = Clause 5 + Clause 6 + Clause 7