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  1. invst4profit

    REIN™ Announces New Partnership with TenantPay to Benefit Members

    Bruce my family and myself have owned every conceivable type of rental property since before the second world war. Landlords are landlords and tenants are tenants when it comes to residential properties. There is no difference in regards to dealing with the post TPA, RTA and the LTB and I defy...
  2. invst4profit

    What Is Fair For Tenant Who Pays Hydro For Entire Duplex?

    Tenants may provide their opinions however it is not wise of a landlord to ask a tenants opinion. Once you ask they believe they are providing what you should do and then they expect you to provide what they want. Do not ask, do not include them in the decision making process but it doesn't hurt...
  3. invst4profit

    What Is Fair For Tenant Who Pays Hydro For Entire Duplex?

    Hopefully you are not refunding him 1/3 of his delivery cost as well. Have you looked into the cost of having a 4th meter installed to serve only the furnace and AC. If you did you could have it in your name and bill each tenant 1/3 of that cost.
  4. invst4profit

    What Is Fair For Tenant Who Pays Hydro For Entire Duplex?

    I would explain the costs as you have indicated in your post and offer the tenant a $10 rebate per month. I would not try to separate the cost of AC in the summer. The $10 is really a arbitrary number you chose intended to appease the tenant not necessarily intended to correct the inequality. Do...
  5. invst4profit

    REIN™ Announces New Partnership with TenantPay to Benefit Members

    They do order against renters however never on a landlords first application to evict and always with the condition that in the event the tenant is willing to comply with a board order the eviction will be stayed. In other words it is always at the tenants discreation as to whether they chose to...
  6. invst4profit

    REIN™ Announces New Partnership with TenantPay to Benefit Members

    Not from my experience it isn't. I have personally sat through dozens of days of board hearings and read several hundred rulings on CanLII. Adjudicators go out of their way, including ignoring the RTA regulations, to rule against landlords. Particularly in the case of N4s where adjudicators...
  7. invst4profit

    REIN™ Announces New Partnership with TenantPay to Benefit Members

    Process is fairly simple. Tenant has until mid night on the first of the month, or whatever day rent is due, to pay. If they do not pay the landlord simply goes to a Service Ontario office, assuming it has a landlord tenant service, and files the L9. The landlord is not required to contact or...
  8. invst4profit

    Question around purchasing my first investment property?

    Thomas makes valid points that anyone thinking of renting their personal home should consider. In addition renters are very hard on a property and you will always have some vacancies. Generally if the annual rental income on a property is not close to 10% of the actual value of the property it...
  9. invst4profit

    Question around purchasing my first investment property?

    Lots of good advice provided, lots for you to think about. Your option to move and rent out your present home is probably a bad decision. This is how many investors start and end their investment career. I have yet to see a personal single family home converted to a rental produce significant...
  10. invst4profit

    KW vs Barrie (Cash Flow)

    It depends entirely on the property. However I do know a paralegal in Barrie that specializes in representing landlords at the LTB and she tells me that Barrie has a disproportionate number of bad tenants.
  11. invst4profit

    What are your biggest problems when it comes to Rentals?

    Lesson one: NO GOOD DEED GOES UNPUNISHED (Landlords are not social workers or mommy and daddy.) The major problem with being a landlord is the tenants. If tenants were not necessary to operate this business it would be a breeze. The key to having good tenants lies primarily in screening. It...
  12. invst4profit

    Assessed Value vs Market Value

    Paying to have an assessment for a bank and having MPAC determine a value for tax purposes is comparing apples to oranges. An assessment will almost always be lower as the assessor knows it is for the bank and will always error on the side of caution. Assessors all know what the banks expect. I...
  13. invst4profit

    REIN™ Announces New Partnership with TenantPay to Benefit Members

    TenantPay should be charging tenants for the service not the landlord. Tenants are responsible to insure the landlord receives their money. If they are late the landlord (in Ontario) simply files a L9 and the tenant pays an additional $170 penalty.
  14. invst4profit

    End the rent games- Ontario

    It's nice that the injustices of the RTA and LTB are coming to light but the reality is that in Ontario the act and the board serve only one underlying purpose and that is to protect this type of tenant and by doing so protect the government from having to house them. The vast majority of...
  15. invst4profit

    Utilities and rentals...

    Just as a side note in regards to Ontario RTA. If you rent inclusive you are protected by the RTA (not really as the board usually rules against landlords) but the tenant must still be in posession of the unit. If the utilities are in the tenants name and they don't pay or in the landlords...
  16. invst4profit

    Utilities and rentals...

    There are in my opinion no Pros in favor of having hydro in the landlord`s name. Tenants that do not directly pay for utilities are wasteful and in the event the relationship turns bad between tenant and landlord expect the tenant to open all the windows in the winter and heat the house with the...
  17. invst4profit

    My Tenants Sucked!!! 3 Things I Learned About Screening Tenants!

    Correction to my original post. I meant N4 not N8. The N4 is a eviction notice allowing tenants 14 days to pay the rent owing. It is ridicules for a landlord to actually issue a tenant a N4 as all it does is legally allow a tenant to delay rent payment for 14 days. In addition it actually...
  18. invst4profit

    Duct Cleaning - Necessary Or Waste Of Money?

    You sort of answered your own question. In my opinion it is a waste of money unless you have a 100 year old home with oil heat or you have been doing extensive reno work with the furnace running. Even then I would not bother unless it was my personal home. However I would tell the tenant they...
  19. invst4profit

    My Tenants Sucked!!! 3 Things I Learned About Screening Tenants!

    Mat in the event you get another tardy tenant in the future, it does happen even when properly screening, the LTB has a excellent tenant teaching tool that I have found to be very effective. The first time a tenant pays late tell them you have financial obligations and that if it ever happens...
  20. invst4profit

    One tenant wants to move out, the other refuse to move

    You are bound till November 1, if they are paid unless you wish to proceed with eviction now for past late payments. Probably better to wait until he misses his November rent but unfortunately you will be placed under financial stress due to the time it takes to actually evict. I do agree it is...
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