My rule of thumb is assessed values mean next to nothing. MPAC is not accurate in it's assessments and is all too often to broad in the assessment base. Comparables are the only true gauge of current value. Aside from seller desperation. A property is worth only what someone is willing to pay...

Kris is right. It is not your immediate problem whether the individual can pay or not, that is his problem. Your main concern is screening the new applicant he wishes to bring in. If in fact he can not afford to stay and you are concerned simply be very strict with your screening process. This...

Lower prices/lower rents are relative. The primary difference is that lower rents usually equate to lower quality tenants. They are much more work to manage and they generally cause more damage and result in higher tenant problems (non payment of rent, evictions etc.) Mortgages on rental...

I would drop the price and sell asap. Reasons: You are not in the area and therefor can not keep an eye on the tenants. A property management company will not take on a single rural property (if one does you will be sorry) With no equity you will continue to pour cash into the property to...

To be on the safe side a ballpark estimate would be rental income of about $6000/month plus whatever is required to cover debt repayment (mortgage interest and principal) Rental income properties expenses roughly run at about 50% of income (long term) not including debt repayment. If you buy...

My sleepless nights have always been from nightmare tenants. Due largely to knowing that our tenant friendly LTB would never uphold a eviction application. That was when I was new to the business, I have now learned to manage tenant "issues" with as little involvement of the LTB as possible.

I do not get the impression that you have put much serious thought into the implications of operating a business. Did you realise that owning a rental property is a business, have you researched the provincial Tenancy Act, are you prepared to put time and effort into managing a property...

You should always add at the end of a add that applicants will be fully screened including credit checks. This will reduce time screening unqualified applicants and weed out professional tenants that tend to target your type of property. I believe more facts like rental rate, utilities not...

What is your purpose or goal in Incorporating? How many employees do you have?

We need a section for individuals to expound on their personal beliefs so that we do not have to weed through this flotsam when reading more important items of interest.

True enough. That is the advantage of using a broker, They do the shopping for you but you are still responsible for insuring you have the proper coverage. In my experience I have never known any insurance company that does not try to find ways to not pay full claims. Insurance is a necessary...

Take your business to a Insurance Broker. They will find you the lowest/best policy. My coverage is with Economical, I don't know the company and don't care. My coverage cost is reasonable and covers everything I need. Getting a reference from someone else will not guarantee you will get...

You may be able to alleviate the situation somewhat by enforcing the RTA rules regarding notice. If your tenant did not give notice prior to September 1st then they are obligated to pay rent until the end of November. If you have a LMR then it is only to be applied to the last month which would...

My issue was with a tenant I inherited when I purchased my property. To put it simply she was a known criminal in the township and had the social standards of a garden slug. From day one she believed it was her right to do what ever she pleased without regard for any other living sole and...

I would only advise not investing in Ontario due to the pro tenant/anti landlord policies of the RTA/LTB.

You can only do the best you can when screening. I place a great deal of importance on their credit score as I believe it reflects there moral/financial standards. Others see little value as they assume most "renters" have poor credit. I have not found this to be the case. Unfortunately even...

You defiantly have it far better than we do in Ontario. Unfortunately Ontario is a nanny state where by every rule is fashioned to protect the lowest common denominator. This allows unscrupulous tenants to take advantage of the system and push landlords to bankruptcy. Imagine having to...

Ontario, too bad, that's where I am too. Worst place in North America to be a landlord. I just went through evicting one bad tenant, took 2 1/2 years, 12 board hearings and cost me 12 months rent plus legal costs. But she is gone and that is really all that matters in the long run...

Strictly from a business investment perspective (which will measure your chances of success in this business) here is how I view your numbers. First property valued at $350,000. Return must reflect the present value of the property to capture true investment potential. Present rental income...