Hi everyone! I am in the process of being a 1st time Landlord. I want to manage the property myself (it`s a condo) because I want to know everything about landlording before I hand it to a property management in the future. I have a few questions to ask (especially those of you who manage the...

I am in the process of getting a couple investment properties. I agree that me, as a starter, needs to manage my own properties. I want to know the ins and outs of how to be an effective landlord!

Thank you so much for the replies. At this point, I will get my realtor (and myself) to do a walk-thru inspection on the day of closing (and compare the result to the inspection before condition removal date). If there`s any major damage, we will do a hold back until the issue is resolved...

Hi fellow REIN members. I am in the process of purchasing a townhouse that is currently tenanted, but will be given 30-day notice. My completion date is October 1st. The seller promises to have the tenant out by the end of September (the current tenants are only paying $1000 a month, way way...

QUOTE (GarthChapman @ Aug 24 2008, 10:38 AM) Definately non-smoking is the only way to go. Allow them smoke outside. Think about having a specified penalty in your lease for breaking this rule. Specified penalties stand up well in Court if you end up there. This could eliminate the need to...

QUOTE (derekcw @ Aug 13 2008, 08:37 PM) I did my own taxes when I was doing the above . Naturally I had run the above by my accountant and CCRA beforehand. Derek Thank you Derek for this valuable piece of information. I am thinking of doing shared accomodation as well so I will keep in mind...

QUOTE (tdrealestate @ Aug 6 2008, 09:43 AM) Hello everyone I just recently apply for a line of credit for $18,000 dollar, and keeping it there until i am ready to make my first purchase. I would like to double or even more my line of credit in the next 6 months, is this a realistic gold. Any...

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QUOTE (samwei @ Aug 7 2008, 09:21 PM) Hi Tommy, you can find the newer apartment style condos which have their own heating, electricity and water systems individually by searching for condos built by Tessco. These are the ones with 4 or 5 storeys, central courtyards, external pedways...

Manj, So you would actually schedule a showing for all potential tenants, and then have them fill out the application on the spot? I read a lot of you do the reverse. Pre-qualify them via application form and credit check, then show the property. Anyone else has done the showing before...

This is an interesting topic as I have been struggling to find apartment-style condos in which condo fee DOES NOT include water/heat (and almost 100% of high-rises have heating cost built-in the strata fee). I have also talked to a few contractors who have worked for some of the condo buildings...

QUOTE (GarthChapman @ Aug 4 2008, 12:09 PM) Agreed that cash flowing properties are getting tougher to find, but not impossible. Suggest you use my model and substitute your own numbers, in all the elements of the calulation. You may be surprised by what you find. Your way of calculating...

QUOTE (GarthChapman @ Aug 4 2008, 09:34 AM) Tim, let`s say you have the scenario below. Remember that I am not including the predicted Appreciation of the property - that is the `bonus` return for you both. Therefore the expected returns of the JV Partner realistically should be adjusted...

Hi, Did you get a chance to read Brett`s posting? The market has come down a bit since last summer in Calgary. If you sell now, you will realize a lesser gain comparing to last year. If you bought your place years ago, you should have a nice equity built up anyway. So ask yourself. Are...

How much equity do you have from this property? If you have sufficient equity, would you be able to refinance it and purchase yourself another property in a different province? If the property still can cash-flow (after refinancing), then it doesn`t hurt to keep the property. Then you will...

Thank you for the advice. I think I am going for non-smoking restriction. It seems like there`s too much to look after a smoker.

I have done an assignment before where I sold my unit to another party. It was a smooth transaction as I got the approval from the builder BEFORE I started to advertise. In your case, even though your seller wants to get out of the contract, he/she cannot legally assign it to you without...

Thanks for your input. I am not a smoker, so I dont` know what is the degree of damage from someone who smokes in the apartment all the time. I would assume the smell will be terrible. Any other member with some thoughts on smoking in the apartment? Thanks!

Hi everyone, I am getting close to get my first property! I am very thrilled at this point. I am investing in Edmonton. I have questions about renting out to smokers. I understand the city is mostly blue-collar. I know a lot of them that smoke. What is your experience like renting to...

I have resolved this issue. Sorry for the post.