I`m not sure but you`re verging on what is being called a straw buyer. http://en.wikipedia.org/wiki/Straw_purchase That is you are buying a property for others in your name. All in all it`s not a good idea. Frankly if people can`t qualify for a mortgage they shouldn`t be buying.

The landlord does not have to supply utilities. The problem comes about when landlord charge utilities in a house with two units and the tenants are each charged say 60/40. The bills usually stay in the landlord`s name. When you get a deadbeat they don`t pay the utility bill and the landlord...

The property management clients I have automatically get copies of everything. What if they want to fire me someday or I get hit by a bus.... For my out of town clients I scan and send everything. If I buy something for the property I scan a copy of the receipt. Quotes the same. Why you...

It looks like this predator takes 6 months of rent... time for a standard eviction plus a review of the eviction at the board. Good thing she doesn`t appeal to divisional court. That takes another six months. This lady who made the paper is just a standard predator. Ontario is far from the...

The privacy act? The contract is between you and the tenant. Why would the privacy act apply to one of the parties to the contract? Too suspicious for words.

This case in today`s news happened in California of one of these predators. http://www.pressdemocrat.com/article/20100...9?p=1&tc=pg 18 months with no rent payment for the Landlord.... Uggh

I am currently wading through all the Divisional Court Rulings in Ontario looking for the 212 cases appealed by tenants from the Landlord & Tenant Board. My goal is to discover how many of those cases were Non Payment of rent appeals and how many were quashed. Once I have the information (I...

There may also be other opportunities that go with the property that you have not mentioned. Is it a huge lot? Could you add another building? Are there vacancies? Not to mention you don`t have to give the guy what he asks. I want 10K for my 12 year old van and there aren`t any line ups

I sent an email to a listing agent a few hours ago for expenses, I ask her for common area hydro in a sixplex, and water expense, she actually replies to me that tenants pay their own hydro and the landlord pays the water. No numbers. She says there is no rent roll, tenants pay cash. This is...

If you are going to give a rent reduction make sure you get something in return such as an additional 1 year lease. You might also consider giving them a one time discount rather than resetting the rent, your increases for the future when things get better are based on your gross rent, rather...

I can tell you that you can get good tenants but as Dave said you`ll need a pm that`s on board. It often takes one year or more to stabilize a distressed building. It also costs a fair bit. In a bad area you`ll want the best value place around so you can snag the best tenants.

If i had a choice of what asset class to pick... I`d recommend a mixed use property with residential up top. You get the best of both worlds. Juicy landlord friendly commercial leases with the vacancy risk combined with the tenant friendly leases but stability of residential tenancies. They...

US is very interesting because in certain places you can buy property for far less than the cost of construction. Over time their market will recover. US has friendlier landlord & tenant law On the downside, you are looking at doing a fair bit of due diligence in the USA. IMHO you have to go...

I`m surprised you got financing. Last year one of my owners closed on three condos purchased pre-construction and the bank had an appraiser come out and check out all three of them, fortunately resale units were selling for $50,000 more.

You make an interesting point Sherrilyn, one that I have noticed myself. My first apartment when I was a student was in an area that made people gasp! I had moved from out of town in an area I could afford and the apartment was very good value. The only things I had happen was someone took my...

The information you were given is correct. You cannot contract out of the law. The landlord is 100% responsible for maintenance and repair of the property. That said I always provide a lawnmower and snowblower and my tenants maintain the property, some better than others. If they don`t do it...

I have a lease that is a standard Word document and I modify it myself depending on the property and what I want in there. I keep it really simple and read it at every lease signing in full. This is so everyone understands what they are supposed to be responsible for. In Ontario don`t forget...

I looked it up and you guys are both actually correct but it depends what type of noise and where you are. Every city has noise bylaws. Some things are only allowed certain times and others (like barking and whining dogs) are prohibited at all times. Sheesh... Is it possible to make things...

Thomas I said exactly what I meant. It is not ROE it is cash on cash. The return does not account for mortgage paydown. It is how much money the investor gets back every month after paying all the bills. For a million $ property I am assuming 30% down commercial that is the norm. Honest cap...

You can also blow in insulation into the voids between the joists. The law is this in Ontario. You can make any kind of noise you like until 11:00 pm then he can call the police. If this occurs tell him you need a copy of the police report. You can also ask him to document the times and date...