- Joined
- Jul 30, 2011
- Messages
- 77
Well, this is interesting (and unfortunate). Just a few days after I closed on a fourplex in Hamilton, one of the tenants told me that a city zoning inspector came around snooping, took photos and tried to get tenants to sign some sort of document. I haven't received any official notices from the city yet but expecting the worse.
I'm now pretty sure that the inspector came around as a result of complaints made before my time. What I failed to do during my initial due diligence is ask the tenants how they felt about each other - apparently, some of these tenants have caused unwanted attention resulting in a few visits from the cops. These incidents may have been what triggered the neighbourhood complaints.
So looks like I've inherited a problem. Now I'm probably faced with the possibility of having to turn this fourplex into a duplex as well as a fine.
On the plus side, both my prop mgr and mortgage broker do not think that in the long term, this will pose a huge issue. After renos, I'll be able to raise rents due to larger, renovated units and get higher level tenants. The rental income will be almost the same.
I just have never dealt with such an issue before so don't know what to expect.
How long does it usually take before I have to go to court for this?
Will they allow me to reno to compliance for at least a triplex?
How long will affected tenants have before they must vacate?
What will be my fine, especially given that I just acquired this property?
If I become proactive and start the reno process to turn the property into a duplex before a court date, will this help me in any way?
Any help on these questions would be greatly appreciated.
I'm now pretty sure that the inspector came around as a result of complaints made before my time. What I failed to do during my initial due diligence is ask the tenants how they felt about each other - apparently, some of these tenants have caused unwanted attention resulting in a few visits from the cops. These incidents may have been what triggered the neighbourhood complaints.
So looks like I've inherited a problem. Now I'm probably faced with the possibility of having to turn this fourplex into a duplex as well as a fine.
On the plus side, both my prop mgr and mortgage broker do not think that in the long term, this will pose a huge issue. After renos, I'll be able to raise rents due to larger, renovated units and get higher level tenants. The rental income will be almost the same.
I just have never dealt with such an issue before so don't know what to expect.
How long does it usually take before I have to go to court for this?
Will they allow me to reno to compliance for at least a triplex?
How long will affected tenants have before they must vacate?
What will be my fine, especially given that I just acquired this property?
If I become proactive and start the reno process to turn the property into a duplex before a court date, will this help me in any way?
Any help on these questions would be greatly appreciated.