QUOTE (Berubeland @ Sep 13 2010, 04:29 PM) I`m not at all surprised. I also remember seeing that the average Canadian renter`s savings were a total of $2000 and that is also probably true from what I`ve seen. Many of my friends have asked me why I don`t buy a leased car or a bigger house in...

Yes, definitely take the money over 10 months. If you took them to court, the judge may order that exact thing anyway so you wouldn`t be any farther ahead. The fact that they agreed to pay without a fight is a plus. That doesn`t happen often.

I just survived a cockroach problem in one of the apartment buildings I manage. We used Maritime Pest Control. 3 of the 17 units had cockroaches. I was the one who discovered them when I was showing a suite that a tenant had just moved out of. I called my Mom and told her there were lots of...

QUOTE (Sherilynn @ Sep 1 2010, 09:09 PM) Depends where you are. Every province is a little different so call your landlord/tenant advisory board to confirm your local rights and regulations. But first I must say that I have allowed long-term guests to stay at a few of my rentals. If the tenant...

...... and while you`re reading......join REIN...you won`t regret it. I`ve been a member for 5 years. It keeps you up to date with all the ongoing changes that happen, without having to do anything but attend meetings and mingle with like-minded real estate investors.

QUOTE (Sherilynn @ Sep 1 2010, 09:27 PM) Your obligation is to make every reasonable effort to mitigate your losses (ie. advertise the suite immediately and try your best to find a suitable replacement tenant). Her obligation is to pay you rent until you find a suitable replacement tenant. Be...

Why did I take such a long break from myreinspace? There are so many intelligent people on here and so much to learn. Thanks Godfried and Thomas. :-)

Congratulations Troy, that`s a very inspiring story. You rose above your circumstances and overcame adversity. I love those kinds of success stories. Inner will gets us through lots of lifes challenges. You can have all the brains and the perfect upbringing, but you won`t come out on top...

FYI: It` very easy to get your properties rented in Stony Plain and Spruce Grove, so you can be very picky about who you rent to. Whoever takes it on won`t have problems in that area if your suites are well maintained. I have family with properties there. There is rarely a vacancy unless...

Read Mark Loeffler`s book, "Investing in Rent-to-own Property".. that will give you all the info you need to make your decisions.

It will depend on how many properties you have to offer the property management company to manage. If there are a lot, then the percentage of gross rental income would be less than if there were only two or three.

In Alberta, you would need to give the money back if you rented it out. You can`t charge two rents for two different people. I can`t imagine it being any different for Ontario.

If the original tenant isn`t there, the rent won`t be paid by the city. I suspect that you will not see Sept. rent. If you don`t, file immediately to the RTDRS on Sept. 2, without wishful thinking and hesitation and get the ball rolling. File against "tenants name and all other occupants:"...

QUOTE (creditinfocanada @ Jul 20 2010, 12:57 PM) Bailiffs are privatized in Alberta and there are only a handful of them out there. If you run into problems certainly you can give us a call. C.I.C. is an industry partner of REIN and we have many affiliates that work in conjuntion with us that...

QUOTE (Goodstuff @ Jul 19 2010, 12:31 AM) Sherilynn, You said to ask for the tenant`s email address so you can check them out on facebook. But don`t they have to first accept you as a "friend" on facebook before you can see anything about them? Do you ask to be their friend? Do they always...

QUOTE (invst4profit @ Jul 18 2010, 08:46 AM) This is a business where rejection is a common occurrence and understandably many do not take rejection very well. There is no need to be hurt, offended, surprised or shocked by rejected applicants playing any number of "cards". In time you will...

QUOTE (bizaro86 @ Jul 14 2010, 04:18 PM) Fair enough. The point remains that more people fail than succeed, and research and hard work are required for success. Its by no means impossible, as demonstrated by the many REIN members who have had significant success, but its not a no-brainer, slam...

Yes I have had similar experiences. Two of my tenants who are moving in at the end of the month was asked to get a criminal check. They are black. They asked me if it was because of that reason. I said no and that I ask all of my tenants to do that. They were sceptical. I just simply told...

Welcome to myreinspace, Mom. I`ll just add you your ad. :-) Mom is trying to help out some relatives and we don`t feel that anything we have vacant is suitable for this type of tenant. Safety and area are above price in this case. We were just giving a REIN member first dibs on tenants that...

Do bed bugs need people to feed off of? We have a suite that I think had a bed bug problem, but it has now been vacant for 2 months. There needs to be a major renovaton done to it and it`s last on our list of things to do, that`s why it`s still vacant. When the tenant moved out, we had a...