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 do that.
Just wanted to ask do we, as investors, benefit from MPAC high value or low value of our property?
If it is high maybe easier to sell for more in the future(?)
But if their value is low - maybe better as property tax will be lower.
What do you think is the best way to update Mpac on the property?
For example - if he worked hard and put $100,000 on a new roof and significant apartment upgrades etc,
should he present all that to Mpac? Or will it only negatively affect him if as a result Mpac will think wow the property's value is higher and his Taxes will now go up as a result of all his hard work improving the building?
Same question regarding vacancy - does Mpac give it higher value if vacancy is zero Vs. say 10%?
Thanks,
Neil
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 do that.
Just wanted to ask do we, as investors, benefit from MPAC high value or low value of our property?
If it is high maybe easier to sell for more in the future(?)
But if their value is low - maybe better as property tax will be lower.
What do you think is the best way to update Mpac on the property?
For example - if he worked hard and put $100,000 on a new roof and significant apartment upgrades etc,
should he present all that to Mpac? Or will it only negatively affect him if as a result Mpac will think wow the property's value is higher and his Taxes will now go up as a result of all his hard work improving the building?
Same question regarding vacancy - does Mpac give it higher value if vacancy is zero Vs. say 10%?
Thanks,
Neil