- Joined
- Apr 21, 2008
- Messages
- 158
Hi All,
I am brand new to REI and just signed a lease with my first tenant yesterday. I had a couple of questions I would love to receive some advice on?
1) I am in Ontario and requested first and last payable as of yesterday to hold the unit for them. They are moving in Dec 1. They then gave me post dated cheques for Jan 1 through Nov 1, 2009. I thought it was illegal to ask for any damage deposit in Ontario other than last months rent paid early so I gave them back the cheque for November 1 2009. Did I make a mistake? Am I allowed to hold a deposit equivalent to the last months rent and still expect to receive a cheque for the last month?
2) The tenant has asked for a gate to be installed in the backyard. They have 5 kids and it is a safety issue for them to make sure the kids don`t get out to the front and potentially run out onto the road. They have asked for a number of things of which I have agreed to most however I am starting to get a little shell shocked with all the requests and money being spent. We are providing some new blinds, new dishwasher (old one died), and building an office for them in the basement. Should I also install this gate for them or maybe should I start saying no and maybe getting them to pay the costs if it is a issue for them? Your experiences and knowledge is much appreciated.
Regards...Randy Dalton
First Time Real Estate Investor
I am brand new to REI and just signed a lease with my first tenant yesterday. I had a couple of questions I would love to receive some advice on?
1) I am in Ontario and requested first and last payable as of yesterday to hold the unit for them. They are moving in Dec 1. They then gave me post dated cheques for Jan 1 through Nov 1, 2009. I thought it was illegal to ask for any damage deposit in Ontario other than last months rent paid early so I gave them back the cheque for November 1 2009. Did I make a mistake? Am I allowed to hold a deposit equivalent to the last months rent and still expect to receive a cheque for the last month?
2) The tenant has asked for a gate to be installed in the backyard. They have 5 kids and it is a safety issue for them to make sure the kids don`t get out to the front and potentially run out onto the road. They have asked for a number of things of which I have agreed to most however I am starting to get a little shell shocked with all the requests and money being spent. We are providing some new blinds, new dishwasher (old one died), and building an office for them in the basement. Should I also install this gate for them or maybe should I start saying no and maybe getting them to pay the costs if it is a issue for them? Your experiences and knowledge is much appreciated.
Regards...Randy Dalton
First Time Real Estate Investor