Ok Thanks Everyone for your feedback.

Hi, A tenant who gave us 60 days notice is telling us she will pay May's rent when she leaves - end of May, instead of May 1st like she should have paid. (last month rent was not paid when she moved in so May rent is still owed) We obviously know her name but not yet where she will live in June...

Hi, As a buyer, do you expect to receive an updated survey (including the dimensions of the building, etc.) as part of the purchase agreement? Is it the lawyer's responsibility to ensure you have it or at least to ask the seller/seller's lawyer to provide that? Does an updated survey from say...

Thanks Kristopher for the clarification and Seeley and Sherilynn for the additional info and suggestions.

Hi, How many units on average? Or if that's too personal, How many lockouts do you think you would have to deal with had you not removed all your knob locks? With 50 units and average Canadian properties knob locks wise (meaning with many knob locks:), we only had to deal with 2 too, in 5 years...

Hi, I actually know a few in this (I think good) situation with no money in the bank. They simply put all their money say $250,000 in the first plexes they purchased. That's how they started. Then, thanks to positive experience doing it on their own, continued purchasing with partners. They...

Not a good JV due to you (perhaps correctly) not trusting her. Don't JV with anyone you do not completely trust. Regards

Why do you think buying 8-plex with a friend is better than each buying 4-plex separately? Since each of you plans to do everything anyway, by buying a 4-plex you eliminate all the reporting to each other. Meet as friends for coffees and discuss and improve your investments. but dont buy...

Can you please elaborate a bit. Why is it that important to have a 2nd lock? My friend for example lives in a condo and has only 1 key - a handle lock. Never had any issue with that:) Why is it/what is a no brainer? Thanks

Hi, How important is having a deadbolt? My friend bought a plex. Few entrance doors have no deadbolt, just 1 key for the handle. The doors are in a good condition, but have no deadbolt. Would you install a deadbolt lock or leave it with 1 key no problem? Thanks, Neil

Hi, My friend has to install a new ceiling in a Plex he bought. The fire department requires that to ensure it meets fire code. The work can take 1-2 weeks and requires the tenant to move out. If I understand correctly, he should give the tenant 120 days notice - Form N13(?) If fire dept wants...

This is an excellent summary of what is expected from us investors. Your earlier feedback perfectly answers my original question. Thank you Thomas for taking the time to educate and enrich us all. Neil

I understand. It depends on the bank. Thank you Thomas

Where is it? Doesn't the answer also depend on whether the area is in transition or not for example? Can you manage her home for her? It might be a good investment for both of you, better than selling whether she moves out or not.

Ok Thanks. Well that's the thing - they are 50/50 on T776 and as a result one bank he already contacted (one of the top 3 banks in Canada) is now telling him you can not have more people on title than are on the mortgage. Well, my friend does not have more people on title than on the mortgage...

Hi, My friend has a fourplex. He is both on mortgage and on title. After purchasing he signed a JV agreement (50/50) with his JV partner. The value of the property increased significantly and they now want to refinance it, probably with a new bank. A couple related questions: 1. Should only...

I am not a lawyer. The question is about lawyer responsibility - is it correct to say that yes, a professional lawyer should tell you (the buyer) that* and ensure or at least strongly recommend you include that clause in your purchase agreement? From your feedback, it sounds like you already...

What if the latest fire certificate the seller has is from 5 years ago? Should the seller then invite the fire department to his/her building in order to sell you their place? 1 question which was not answered - Do you think it is the lawyer's responsibility to explain this to the buyer and...

Thank you, Neil

Hi, A few questions regarding apartment buildings purchase, say 10-plex: - What is the difference, if any, between a fire retrofit and fire certificate? - Does the buyer's lawyer usually obtain one? Would you say not obtaining one is a lawyer not doing her/his job? Or is this an exaggeration...