Converting your basement into an apartment can be a lucrative move, no question, but there are perks and perils to using part of your home as a rental property. Here are eight things to keep in mind before taking the plunge. 1 Rental properties: Do it legally, or don’t do it. Just because you have… Read more »
Small property management companies face challenges competing with large corporations. Smaller budgets, limited staff and increasing overhead can be discouraging. You can compete with the big boys if you’re proactive. Here are a three strategies highly successful management teams deploy. Number One: Pursue Excellent Relationships Building relationships through excellent service is one way independent management… Read more »
This is a story about pushing the envelope of Landlord & Tenant Act, and of the system of protections in a rental building breaking down. Staff can be manipulated and make rental mistakes. In this case we escaped relatively unscathed except for my coworker’s ego and some of her innocence There was a call at… Read more »
When looking for a new home, you’re probably stressed, vulnerable and tired. You might also be more willing to accept something that looks too good to be true. In fact, scammers are counting on it. Kijiji, Craigslist and similar sites are a great place to find rentals in the area, but check out our tips… Read more »
Landlords think it takes too long to evict tenants, while tenants think the deck is stacked the other way. Who’s right? The issue was in the news recently with an Ontario group representing landlords releasing a study that claimed the eviction process is broken and requires immediate changes. The study looked at 1.3 million provincial… Read more »
Here are three tried and true methods of selecting the best and most qualified tenants and learning ways to avoid costly disasters. 1.) Rental documents As any real estate or courtroom lawyer will tell you, good documents are the starting point of any successful business relationship. Having a successful tenancy requires good, clear, concise definitions… Read more »
Any landlord who has been involved in the real estate rental business for more than a few years has likely come across a tenant disaster, or at least knows somebody who has. One of the most common comments we hear from prospective, current, and former landlords relates to the headaches caused by accidentally renting to… Read more »
No landlord wants to rent to bad tenants. The worst tenants (meaning tenants who have a plan to rip off small landlords from Day 1 are often very crafty. For example, some prospective tenants will do an Academy Award worthy performance when they first meets a potential landlord. Bad tenants will be exceptionally friendly when… Read more »
Personal benefits for owners Less stress – Avoid having to deal with middle of the night emergencies, chasing down rent, evicting people from your property, tenants who wreck your property, rental scams, lousy vendors, piles of paperwork. More freedom – Live and invest wherever you want with the constraint of needing to be near your… Read more »
PROPERTY MANAGEMENT (I am the after-hours emergency line representative for a property management company. We essentially handle things that are association responsibility and will cost the association money, not the homeowner.) Homeowner: “I think someone is breaking into my house!” Me: “Did you call the police?” Homeowner: “No, why would I do that?” Me: “Because… Read more »
