Recent content by derekchien

Great Info, and small World. Say hi to me if I see you there again. :)

I see. I sort of sense that as well when I was talking to them. It seems a bit over promising. However, any valid methods you recommend in terms of better screening tenants.

There are a few things that I just found out. Under the freedom of information act. We can pay $5 to landlord and tenant board and have access to any names that we give them. However, they have 30 days to respond. This is no good when we are selecting tenants and need to make decisions in a...

Let say you have a fire in your illegal basement suite. Your insurance company will not pay. It doesn't matter how safe you think your property is, or how careful you are in terms of managing your property. Insurance company only cares if it's legal or not. Illegal things doesn't stand up in...

It would be interesting to know if this can be done in Ontario. Is it possible to request such records directly from tenant and landlord board?

average home insurance would be $1000/year in Ontario, when you are talking about boarding/rooming house insurance, it will jump to $3000 to $4000/year. Also insurance will not pay anything that is illegal. So, if your city zoning/fire/building code doesn't allow it then it would be a big risk...

Can't you issue L9 and N4 follow by L1 at the same time? It seems like a better way to deal with tenants not paying? I would have a hard time believing the legal process would treat anyone different, ( low income with help of legal aid VS professional?) I've been to the board few times...

I own a few fourplex under my name. When I was searching weather or not to incorporate in the future. Most articles talk about passive investments in CCPC have to be taxed heavily. Around 50% in Ontario this year. You need to hire 5 plus employees in order to qualify as active business...