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Thx Thomas..........."So if the tenant agrees"....does this mean a new agreement to be resigned by all parties or just an addendum to add the clause? On another note is there a minimum covered by the tenants board for a tenant to notify a landlord?

I just got a call from one of my tenants giving me the end of MAY as the last day for tenancy. I thanked and told him that I would start looking for a new tenant but that I needed 60 days as per agreement in case. I later looked at the contract and noticed that I had somehow deleted the 60 days...

QUOTE (gsicilia @ Jan 19 2010, 01:09 PM) I am just about to close a property where one of the tenants is delinquent and has been delinquent over some time. The process and forms to have this ternant evicted have been served, but this tenant may be there by the time we take possession(closing) of...

I am just about to close a property where one of the tenants is delinquent and has been delinquent over some time. The process and forms to have this ternant evicted have been served, but this tenant may be there by the time we take possession(closing) of the property. The question is ...As a...

Thomas sorry for the delay I have been out for the week, but would love to chat.

Thomas, Greg Thank You for the input. All things being equal where are the parts of Kingston you would stay away from?????

Fair enough. Let me see if I can rephrase. Assuming rents are going between $700 and $800 what do you expect to pay per door? for a multiplex 15- 20 units. Or do you have another measurement that can tell help me determining a price since cash flow really depends on interest rate, down payment...

What are the going Cap Rates in Kingston now a days for properties with 10-20 doors? I know there are a few Kingston Forum/Rein members that can maybe expand a little on the Kingston Market.

QUOTE (ThomasBeyer @ Nov 19 2009, 07:02 PM) yes .. many cash-flow .. and many do NOT incl. home owners who live there .. thus an increase for 4% to 5% in interest rate with a 25% higher payment/month makes an impact on affordability ! Fair enough. I guess I just confused on how this fit with...

Thomas You mention many people are overlevered, but I am somewhat confused with this. What I have read from this Forum, most people are investing for positive cashflow and longterm hold. Therefore does it really matter how much leverage you have in a property if it rents and is cashflow...

Is a LL obliged to renew a one year lease on a month to month once the one year expires or can the LL not renew at the end of the term and seek a new tenant?

I have invested in single family dwelling before but never a multi unit property which I am now looking at. I looked at an 8 plex that is for sale in Ontario and the seller has no leases. His approach has been one that he likes to have his tenants on a month to month so he can get rid of them of...

Thx all again. Shannon, I am confused at the value of filling the "Certificate of Service"...........What is this for. It does not seem that this gets served to anyone and is strictly for record keeping. Does this have to be sent to anyone (third party?) to validate that you sent someone an N4...

Need advice on best way to proceed. I am investing in single dwelling properties and I was wondering if it made more sense to increase the amortization to the longest term possible and increase cash flow, or decrease amortization to the smallest possible to be cash flow neutral and reduce the...

Thx all,,,,,,,,,,,,,,looks like N4 are in order. Can I charge late fees if these are not part of the lease. If yes what is the right amount. OR should I just cash the cheque lose the three days before I can hand him an N4 and then collect on the NSF. This will also impact his credit rating which...

Need help...........I have a fairly new tenant in Ontario that bounced a cheque on me last month and came clean with cash the next day. This month he called me to ask if I could hold off on the post dated cheque for 7 days till he cleared up some other personal issues. What should I do? I know...

Hi Rookie I am a rookie as well and was looking at the rooming houses in Oshawa near UOIT and Durham College and just wanted to give you a heads up (you may already be aware) that the City of Oshawa just passed a bylaw that makes most rooming house in the College area illegal. There is tons on...