Recent content by ClintL

  1. ClintL

    Is This Example From Savannah Ross Realistic?

    Jeepers, what have I learned so far? Here are some things that come into mind; - solid real estate investing is NOT brain surgery, just a lot of common sense and careful planning - I should have doubled the allowance for initial and first year renovations/maintenance - be prepared for...
  2. ClintL

    What Is Fair For Tenant Who Pays Hydro For Entire Duplex?

    Has anyone ever done this before, i.e., install a separate meter just for the HVAC? If so, what is the approximate cost of doing this? Clint
  3. ClintL

    What Is Fair For Tenant Who Pays Hydro For Entire Duplex?

    I have a duplex in Hamilton where there are two separate meters for hydro and one for gas. The basement was recently combined with the first floor as a new apartment to comply with zoning and the basement tenant actually took over the entire combined unit. He is now paying market rent plus the...
  4. ClintL

    Duct Cleaning - Necessary Or Waste Of Money?

    One of my condo townhouse tenants brought up the idea of duct cleaning. Is this expense necessary or a waste of money? I've never had any of my properties, including my own home, go through duct cleaning since I haven't seen evidence out there to warrant it yet. What do you think?
  5. ClintL

    Costs For Rebuilding In Calgary After Flood

    I recall that during the last REIN meeting in Toronto, it was mentioned that it will likely take Calgary and surrounding areas affected by the flood a long time to rebuild. One of the factors behind this is the lack of enough manpower. So I told this to a contractor friend who is located...
  6. ClintL

    Oh Oh, One Of My Hamilton Multis Getting Hit By Zoning Dept - Now What??

    I guess a basement apartment in there would not qualify since all of it is below grade ... right?
  7. ClintL

    Oh Oh, One Of My Hamilton Multis Getting Hit By Zoning Dept - Now What??

    I've since chatted online with a few others who got into similar situations with the city of Hamilton and looks like it takes awhile for things to get to court and the fine will be about $1000. I've discussed this with my mortgage broker to see what the future possible consequences are from a...
  8. ClintL

    Oh Oh, One Of My Hamilton Multis Getting Hit By Zoning Dept - Now What??

    Well, this is interesting (and unfortunate). Just a few days after I closed on a fourplex in Hamilton, one of the tenants told me that a city zoning inspector came around snooping, took photos and tried to get tenants to sign some sort of document. I haven't received any official notices from...
  9. ClintL

    Any Hamilton Stories With Zoning Inspections?

    Anybody with Hamilton stories with zoning inspections from the city? What happened and what were the end results? Did they allow you to build to compliance or did they order you to remove units along with fines?
  10. ClintL

    Insurance Policies Assumable?

    Just wondering, is a current insurance policy already existing for a rental property assumable by the new owner if such property was sold?
  11. ClintL

    How Would You Handle These Tenants?

    Thanks everyone! I like the suggestions here better than my original plan.
  12. ClintL

    How Would You Handle These Tenants?

    I inherited a couple as tenants in a Hamilton triplex back in September - they have already been there for 4 years and apparently have always paid rent on time via post dated cheques. However, the previous landlord never bothered to raise rents and therefore these tenants enjoyed $800 rent per...
  13. ClintL

    Admin Fee For NSF Cheques On Rental Agreements?

    Great comments everyone - thanks! I may have to amend my lease agreements since I have a $25 admin charge for NSFs and bring it down to $20 - but make it clear that this does not include the actual bank charge levied. One tenant thought that L&T board allows rent to be paid reasonably late...
  14. ClintL

    Admin Fee For NSF Cheques On Rental Agreements?

    For most rental agreements I've seen, there is a clause regarding an admin fee that tenants agree to pay in the event of a NSF cheque. Have any of you ever had this fee challenged by a tenant and if so, what was the outcome?
  15. ClintL

    Other Successful Lucrative Uses Of Basements

    Just wondering for you folks who have basements in your rental properties but for whatever reasons have not been able to rent them out as separate apartments - what other uses of basements have you found to be successful and lucrative? I currently have a coin laundry in one of my multi-family...