QUOTE (invst4profit @ Aug 20 2009, 08:43 PM) Find a job FAST. Great advice. I couldn`t agree more.

QUOTE (nubiwan @ Aug 20 2009, 08:07 PM) To me this might all sound like a great idea and I tried to put together my own application form for my rentals. In the end, it becomes almost impossible to interview/screen them all, and you go with your gut on whether or not you`d trust these people...

I`m sure there are those that`ll have more concise advice than this but at the end of the day, I think the consensus will be that you should call a lawyer right away and get on top of the situation as soon as you can.

When we move in a new tenant, we make a point of explaining how we will do the eventual move-out inspection. We explain that on the last day of the tenancy, the property needs to look like it did on the first day of the tenancy. If it doesn`t, we charge $45/hr to have the unit cleaned and remove...

QUOTE (RobM @ Aug 7 2009, 12:56 PM) Or what about using a private investigator to gather the evidence on your/the tenants behalf? This is a GREAT suggestion. As I mentioned in a previous post, I think this situation is all about leverage and hiring a professional to help you attain leverage...

If you`re high on these tenants, let them know that the only thing standing between them and an approval is a reference from the landlord. Hopefully that`ll motivate them to chase after the landlord and spare you the aggravation.

I`d want both on the lease. That way if one bails or turns out to be a flake, the other tenant is still responsible for the full rent. We had a similar situation on a condo in Edmonton. She had good credit, a good job reference and a great reference from her landlord. He was on some kind of...

QUOTE (invst4profit @ Aug 1 2009, 10:07 PM) But I would make it very clear to your tenants that if they try to walk away from there responsibilities before a new tenant was found that I would take them to the LTB and go through small claims court to garnish there wages for any rent owing. I...

QUOTE (koop @ Jul 21 2009, 12:01 PM) I just talked to a loans officer at a bank and he suggested that instead of getting a 5yr VRM I should just take a one year fixed rate closed mortgage. His reason was that in one year they might be able to give sub-prime rate mortgages again. The rate for a...

Why limit yourself to southern Ontario real estate? If you`re far enough away to need a property manager to look after the property for you, why not take a look at Alberta? There was a lot of info at this past weekend`s event in Edmonton but here`s what I took away from meeting other investors...

You can also talk to Jordan Cartwright. He's a guru of all things computer/Internet related. Jordan's REIN profile - http://myreinspace.com/members/jordancartwright/default.aspx

Hi Vic; Write the cheque to your lawyer in trust. I definitely would not give the seller a deposit in his/her name. It could be a recipe for disaster.

It pains me to say this because I hate the store but Ikea offers a very good product at a reasonable cost. The last time we put cabinets in a property it was 3-ish years ago so my memory may be foggy but it seams to me that the price was in the $125 a linear foot range for basic glossy white...

QUOTE (JoefromTO @ Mar 20 2009, 07:06 AM) I`d like to download it and burn it to a disc to watch it at home...any idea how to do that or if its possible? You can buy a copy of the episode on DVD here --> http://www.fastbinder.com/cgi-bin/fccgi.ex...ngPage=!url MEDIA: Television STATION: CBC...

http://www.cbc.ca/thehour/videos.html?id=1065289434

Hi Sherry; It`s my understanding that in Alberta, condo boards aren`t allowed to stop you from renting your unit. I don`t know if it`s a similar case in BC. That said, I couldn`t be bothered to get into a fight with a condo board. It`s much easier to keep looking and move on to another...

Hi Chris; Depending on the quality of the paint, a gallon of Varsol and a stiff nylon brush might do the trick.

I had one of my tenants call me tonight and complain about a strong smell of marijuana in the common area. She tells me that the smell has been prevalent for some time and is now getting stronger and is becoming a problem as she`s beginning to smell it in the suite. I`ve never noticed the...

Does the Bank of Canada have it within their authority to force banks to lower their rates?

QUOTE (mortgageman @ Feb 27 2009, 09:06 PM) The neighbours who own the other half of the duplex offered our tenants rent of $1500 for their unit. Wow. I would be LIVID if the neighbour undercut me like that.