We had to comply.

Here are the words that were used in the letter from the city! As a result of a complaint, an inspection of your property located at XXXXXXX SW, Calgary, revealed that more than the allowable number of Dwelling Units exists on this property. This is contrary to The City...

Hello all, I have a rental property in Calgary that contains a illegal basement suite. I have just had the city bylaw inspector there who asked me to remove the kitchen sink, plumbing, stove and wiring. I am considering complying with the request for long enough to have them confirm that I did...

Hello all, I have a rental property in Calgary that contains a illegal basement suite. I have just had the city bylaw inspector there who asked me to remove the kitchen sink, plumbing, stove and wiring. I am considering complying with the request for long enough to have them confirm that I did...

I just received my mortgage statements for my rental properties and the principal was reduced by a significant amount ($20K). I will have to pay personal tax on this amount and can not buy enough RRSP`s to offset it. How do investors handle this? Although I like the low interest rates I do not...

I just locked in my personal residence for 4.49% for 5 years. Not sure if you can get the same for a commercial building but I would try for a better rate if you are going long term. Vaughn

I do not have experience with this outfit but did purchase a managed unit through International Investment Properties which became 20/20. This unit is in London Ontario and has performed very poorly. It has lost money on the market since it was purchased in approximately 2000. My personal...

QUOTE (ChrisDavies @ Apr 25 2008, 11:01 AM) If AMEX is sponsoring them that`s a pretty good vote for continued employment, and thus being able to pay the rent. Do they have info on their history from Venezuela? He can supply us with his prof. engineer certificate, his references for his...

Hi all, so last evening we showed our main floor place to some people from Venezuela. He has just been hired by Amex and is an engineer, they seem like a very nice couple. Our questions are what to do when they have no credit history in Canada.? The relocation specialist that was helping them...

QUOTE (Millions @ Jan 4 2008, 09:56 PM) Hi All, I bought my first condo last April but didnt really take into account that 2 bedrooms might not fetch me the rent I need to keep it going. The condo is in Kilarney. It`s 2 bed, 1 bath, underground heated parking, secured building. Its very nice...

QUOTE (ToddStokowski @ Jan 9 2008, 11:29 AM) You can not create a gain without transferring Title to someone else. Maybe you can transfer the property to your spouse or your company to accomplish this. This may create mortgage penalty issues and other issues bigger that what you are trying to...

QUOTE (Jkaufman @ Jan 9 2008, 09:31 AM) My understanding is that if the monies from the refinance go towards a similar investment there are no current tax consequences. If you however use that money for the purchase of something personal then you must pay the capital gain at this time. Otherwise...

QUOTE (George @ Jan 8 2008, 06:43 PM) Good evening, The CRA is generally speaking more concerned with what you did with the proceeds on refinancing. In other words, if you personally own the property and use the proceeds for vacation/big screen TV/other personal reasons then at least a portion...

Could someone please comment if they know how refinancing of a rental property is viewed in Canada Revenue Agency`s eyes. I would like to refinance a property but I am concerned that this may raise a red flag due to the fact that my net positive cash flow will drop and I will be claiming quite a...

Thank you very much... that is exactly what I was wondering. I`m glad that you`ve made provision for a spousal "team". See you soon.