Strangely though, within three months of moving in, the upstairs tenants felt the need to change the locks on the door without notifying me. When I realized that the locks had been changed I demanded to a copy of the key and the reason why the locks had been changed. The husband said that he… Read more »
Real stories of victims of bullying Kaetlynn Hi! My name is Kaetlynn. My story might be short because I only remember just a few points of it, and I guess that is a good thing. My dad is a Marine. (So I move around to different places, A LOT.) When I moved to Oceanside, CA,… Read more »
November 16-22, 2014 Bullying prevention through education and awareness. Ontario has designated the week beginning on the third Sunday of November as Bullying Awareness and Prevention Week to help promote safe schools and a positive learning environment. Theme: “Stand Up! (to bullying)” Bullying Awareness Week is supported by the Canadian Teachers’ Federation and has now… Read more »
No. 10 – Scheduled inspections Interior and exterior inspections help minimize damages. If the tenant is damaging the property, you can address the issue early, hopefully before the repairs become too expensive. Similarly, you’ll be made aware of lease violations, like weeds, which could involve a city citation and fees.
I never intended to become a landlady but my pending out of state move made it inevitable. I was not about to sell my house as the market was continuing to improve. My vision of a landlord was much like the school lunch lady, usually mid-50s and disgruntled for no readily apparent reason. As someone… Read more »
No. 9 – Competitive rent rates Overprice your property, and it could stay on the market longer than necessary. Under price your property, and you leave money on the table. A property management company will study local market data to determine a competitive rate.
No. 8 – An ironclad lease A management company’s lease will be pro-property owner, potentially saving you hundreds of dollars. For example, if the lease doesn’t specify that the tenant is responsible for certain repairs or require them to pay a service fee, they may call you out every time a light bulb needs to… Read more »
No. 7 – More time for you Time is money, and your time can be more profitably spent at your day job or finding other investment properties. (And, although the profits aren’t as tangible, your time can be better spent with your family on the weekend or sleeping instead of taking a midnight phone call… Read more »
No. 6 – Fewer legal problems Federal, Provincial and Municipal laws govern the rental market. Failure to adhere to these laws, especially the Human Rights Act, can result in significant monetary penalties —we’re talking hundreds of thousands of dollars. Unless you’re a real estate attorney, you’ll have a difficult time as a do-it-yourself landlord knowing… Read more »
No. 5 – Tighter rent collection process If you let them, some tenants will walk all over you, especially when it comes to paying the rent. Since consistent cash flow depends on collecting the rent on time every month, you need to be firm — late is late, regardless of whether the tenant has broken… Read more »