I'm posting this on behalf of friends. They have a purpose built 8-unit building under contract in Ottawa (Vanier). This is an under performing building with a lot of upside. It is being purchased for $1.5M and will be renovated over the next 1-2 years for maximum market rents and an ARV of...

Hi there... I am working on my first RTO deal and I am using the RTO Worksheet that I found in the forms section to run some calculations. Within the RTO worksheet and under the "Profit from Sale/Transfer" section, there is a line item called "Add: Exercise of Option Fee". I have...

Hi, I am looking for advice on this subject. I will speak with my accountant and lawyer but would appreciate input from those with more experience. My Dad lives in a single family home that he owns outright. He also owns a condo (mortgage is paid in full) that is currently rented out. He is...

One of my tenants called early this afternoon and told me that a fire destroyed the unit's kitchen. The tenant turned on the wrong stove burner and the oil that was in a pan on the heated burner turned into flames. Thank God nobody was hurt. The poor tenant (who is pregnant) was visibly...

Hi everyone, I have run into an issue and I am seeking your opinions and thoughts. Here is the lowdown: 1. I live in Ontario (ugghh). 2. I have searched the Ontario RTA for information related to this issue without success. I need help understanding legal speak 3. A couple who had been...

Hi, Being a novice, I purchased a condo last spring in Ottawa that currently has a negative cash flow. I am now second guessing the purchase and am wondering if I should hold onto the unit or sell it. I believe I will make some money (not much) if I sell. Additionally, I could find a property...

Hi, My tenants are separating and the husband has already moved out. Both the husband and his spouse signed the lease. He has furniture in the unit that he is paying for and would like to move the furniture to his new apartment, however, his spouse took away his keys to the apartment and won`t...