This is an interesting thread. Let`s remember that these contracts are ALL written by the developer/builder to be as developer friendly as possible. It is highly unlikely that the developers will negotiate any clauses which would allow a purchaser an out down the road. As one smart lawyer...

Does anyone know of a company who can inspect a property for mould in Edmonton? Thx, Dan

Let`s call a spade a spade. But, also take into account that I have never had to deal with garbage tags. No matter whose legal responsibility the tags may be, ultimately, we are responsible for our own properties. What will the effect be if you do not buy the tags for te tenant? Will garbage...

We have been advertising for a property custodian for several days, with absolutely no replies to our ads. That could mean one of several things: 1) We need to review our ad, which we are doing; 2) There are more jobs than people again; 3) We need to change where we are advertising, primarily...

There are many PM software products that offer fully functional free trials... some 30 days, and a couple I have seen 60 days. Try some of these for one or two buildings. If you have a small portfolio, Navaz Murji, I think, uploaded a simple spreadhseet here that is free for members. It is...

I am not 100% certain, but I believe a re-occupancy permit is required by most municipalities before anyone can legally occupy the ppty again. I am all but certain that is the case in most cities around Vancouver. There are very hefty fees to get a re-occupancy permit in Vancouver. The...

Playing devil`s advocate... Why would CMHC care if the deposit was fully refundable or not if the deal goes south and they have no interest in the transaction? I can see why they might be concerned if a purchaser was unable to show that 100% of the money`s they supposedly paid toward the...

I have a new and exciting job... working with a national firm that is buying and leasing property across the country. I am part of the acquisition and property management team. On Monday, October 5, the company takes over a large site in Edmonton. We need to establish a relationship with a...

FF is my prime browser, too. I use it exclusively when posting. However, if I want to edit, I switch to Internet Explorer, which I keep for sites that are not FF friendly, such as my bank.

I agree with Brett. RTO is not a difficult concept to understand. I suggest that you buy Mark Loeffler`s book, and/or look online for "Rent To Own" or "Lease Options". There is a huge mound of material there for you to get. Or get to know someone who has done a few and can give you advice...

I also was going to comment about the use of the word "refund". Mark covered it well. I do want to comment on the use of the term "security deposit". Anyone who uses this term in their agreements or when speaking with a potential TB is asking for trouble. Security deposits are refundable, in...

I agree with Mark`s comments. But, as I said earlier, this may be a "Personal Injuries" lawyer who knows little about real estate. There should be no right of the TB to register the "Down Payment". It is common to register many land agreements, including Options. A call from your lawyer may...

Ask your insurance agent. I don`t understand is you are the purchaser of the property or the seller who is carrying the financing. If you are the purchaser, you should insure your interest. If you are the seller, the property is still yours, and you need to insure it as if you were renting...

Ask your insurance agent.

What does the wording of your agreement call the "down payment"? If it refers to it as a DP, then you may be hooped, using one of Don Campbell`s favourite expressions. However, it should be called an "Option Fee", as the TB is paying for the option. It is a phrase well known by the legal...

A rule of thumb is that expenses are going to run about 30 - 35% of the income. For a building that is getting up there in age, or in a questionable area, they will probably be in the 40% range. Not being familiar with Ontario`s rental controls could mean that expenses are outpacing income...

It doesn`t matter whether or not you are a member of any given real estate board. A Board is an association of Realtors, nothing more. It is each province which sets its own rules about training and continuing ed, and how much is paid by a licensee for insurance, etc. As a matter of interest...

With that amount of money for investing, your best bet is to find a seller who would lease the home to you with an Option To Buy. That assumes you are absolutely dead set against JVs and the like. You do not tell us what your real estate experience level is. Finding JV partners for someone...

That question should be answered by the Tenant` own tax accountant. I have an opinion, but it is not a expert one. When using a portion of ones home, whether owned or rented, for business, that portion of the premises used for that business can be used as tax deductible expenses. You can use...

I believe Navaz Murji has publsihed a simple Excel worksheet here. It is all you need for a small porfolio and is easy to use. I don`t know for certain if Excel works on Macs, but understand that Macs can use Excel these days. Start by looking in the download section, or resources. I can`t...