According to Statistics Canada, in 2005, 37% of people were home renters and 63% of people were home owners. Most home renters would love to be home owners but choose to rent because of lack of money available for a down payment, unfavorable credit or simply are not making enough money to carry a mortgage. When you are renting for said term outlined in the rental agreement, you are making your landlord a very rich person. In this process, you are paying down his mortgage and putting cash in his pocket every month. At the end of your rental term, you walk away with nothing. Knowing this most people neglect the units and do not take pride in their living space and that is why most of the rental units are substandard.Continue reading
Most Real Estate Investors, as landlords, want to get out of the business as quickly as they got in. Many mistakes have been made along the way in their career and they have nothing but problems with tenants. This is very common but can also be easily remedied.
The Eviction process by sheriff in Ontario can be quite complicated when you have no idea. How the system works. Eviction process by sheriff in Ontario protects both the landlords as well as tenants.
Ontario is capping rent increases for 2015 at 1.6 per cent
Ontario’s 2015 rent increase : The cap, also known as the rent increase guideline, is the maximum a landlord can raise a tenant’s rent without the approval of the Landlord and Tenant Board. It applies to rent increases between Jan. 1 and Dec. 31, 2015.
Being a real estate investor is good to know the British Columbia residential tenancy act and the governing rules. It is essential for both the real estate investor and tenants to understand their rights and obligations. It is important to keep up today rental laws and comply with those laws and the occurrence contained in the tenancy agreement.
Being a real estate investor is good to know the British Columbia residential tenancy act and the governing rules. It is essential for both the real estate investor and tenants to understand their rights and obligations. It is important to keep up today rental laws and comply with those laws and the occurrence contained in the tenancy agreement including Pet Damage Deposit British Columbia
Security and Pet Damage Deposit British Columbia are required by real estate investor/ landlord can require from a tenant to pay a security or pet damage deposit or both, the security and pet damage deposit combined cannot exceed more than 1 month rent. The deposit shall be paid in 30 days of entering in to rental agreement or one month notice to end tenancy.
Landlord or real estate investor can decide whether or not they would allow the pets in their house or building where the pets are allowed the landlord has the right to restrict the size, kind or mummer or pets. The landlord also can establish pet related rules and tenant must abide those rules.
A real estate investor/ landlord who permits a new tenant to have a pet can charge a onetime pet damage deposit at the time of moving. The deposit cannot exceed more than 1 month rent no matter how many pets there are.
A landlord/ real estate investor who permits an existing tenant to have a pet can require tenants to pay a pet damage deposit which shall not be greater than half a month rent. Before receiving the pet damage deposit the landlord must inspect the rental unit with the tenant, complete condition inspection report and provide a copy to the tenant within 7 days. The deposit can only be used to claim for the damages done by the pet.
Pet damage deposit cannot be charged for animal subject to the guide animal act or pets that were at the property as of January 1st 2004
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The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case
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Rent increases This year, the rate of allowable rent increases for 2012 will be 3.1 per cent. The guideline is the maximum amount that most landlords can increase a tenant’s rent during the year without making an application to the Landlord and Tenant Board.
Ontario annual Rent Increase Guideline is based on the Ontario Consumer Price Index (CPI), which is a measure of inflation calculated monthly by Statistics Canada.
The guideline is the maximum amount that most landlords can increase a tenant rent during the year without making an application to the Landlord and Tenant Board. Continue reading
These days it is not as simple as just owning some real estate. The options seem to grow by the day. Consider the following possibilities for Property Ownership in Canada:
1. Joint tenancy
3. Condo ownership
4. Tenant shareholder in a corporation
5. Co-ownership, including fractional ownership
6. Life interest
In most situations, before a landlord can apply to the Board to evict the tenant, they must first give the tenant a Notice of Termination that tells the tenant what the problem is.