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...

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...

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...

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...

Hi A family member purchased a town home from a big builder and has a small dilemma: The town home has 3 floors and comes with carpeted plywood stairs. If he wants hard wood stairs instead he needs to add 10k. (Main floor comes with laminate and 2nd and 3rd floors carpets - included in the...

Hello, My friend's lawyer has contacted him as Mpac contacted his lawyer (just to get his phone number as they did not have it). They want to ask my friend few basic question about a 10-plex he purchased last year. My friend has no problem providing Mpac with the information and will obviously...

Hi, My business partner has a 5-plex he wants to refinance with RBC. (RBC is apparently the only bank still seeing 5-plex and 6-plexes as residential, not commercial) He knows no one at RBC. Therefore, which banker to work with is flexible. Should he try working with RBC branch in the small...

Hi, My friend is dealing with a mentalcase. The mentalcase is currently living in the basement of my friend's 4-plex. Lets just say this mentalcase is currently on the world's most unwanted list. My friend has this idea to serve him a notice letting the mentalcase know my friend's son...

Hi, My friend is purchasing a 10-plex. Must the Seller provide the Buyer with a fire retrofit report? Could my friend close/get a mortgage even If Seller does not even have such a report? Or would my friend then be required to have a fire retrofit inspection done? Can my friend request a...

Hi, My friend has a 3 storey 16-plex. Should a fire drill be held at least once a year? Or not in all buildings? Also, do fire inspection companies usually complete that during their annual inspection of the building? Or does the property manager typically conduct that? Also, his building...

Hi, Companies installing Fibre Optics Internet, the tenant is interested in, require landlord's approval. Does the installation often require drilling a hole in the wall? Do you usually approve the request for the tenant? Thanks, Neil

My friend has a duplex where upper unit living room floor is sinking down. Which type of companies/professions are best to involve for inspecting and repairing something like this? Would you involve insurance company or probably not? Thanks, Neil

Say you have a 3 years term mortgage 3% fixed interest (20 years amortization). What are your payments to the bank usually, in the months after the 3 years term, before deciding to which bank to move the mortgage? In other words, what is the default if you dont update the bank/you say nothing...

Say a tenant owes previous owner 2K and current owner (my friend) 2k. The reason is 'crime' of not paying rent began before closing - the property closed (my friend bought it) 2 months ago where tenant stopped paying 4 months ago. (previous owner did nothing about it) In the N4 served should my...

Hi, A foreign investor wants my friend to look for a 40-60 Million Dollars office building for him. He heard about my friend and suggested he be an 'agent'/deal finder, and ideally the local mgmt company will be the partner putting 15% down. (my friend is an asset manager with experience...

Hi My friend purchased a 20-plex and started working with a new PM company. He also decided to continue working with the tenant who has been cleaning the building since 2010 there. Should my friend just pay the tenant directly or have the new PM company pay the tenant for cleaning and then...

Hi Everyone, I have 2 real life questions please: 1. Triplex A has a market value of $500,000 and is semidetached to another triplex. Triplex B is identical to A except it is (uniquely) semidetached to a 6-plex(!) By how much approximately do you think Triplex B's value is lower than A...

Hi Everyone, A friend found a legal triplex to buy. Currently, the seller leaves in the plex and does not rent out any unit. My friend plans to move in upon closing and do the same - not rent out any unit or maybe rent out just one of the units. Can he put 5% down? I heard 1 or 2 units...