A Blog For Successful Landlords! header image 1

Ontario Landlords Watch This – How Can You Stop Tenants From Smoking and Growing Weed?

August 5th, 2018 · marijuana, ontario landlords watch, weed

Ontario Landlords Watch This: Change the Rules For Tenants Smoking Marijuana & Growing Weed Plants in Your Rental Property

Many landlords across Ontario are only ow waking up to the factMarijuana will become soon become legal in Ontario.. It will become legal in October 2018. Experienced Ontario landlords are warning it will huge financial losses for landlords and huge headaches in running your rental business.

How Are Other Provinces Dealing With Marijuana?

They are taking action. For exaple  Alberta landlords have become protected and so have BC landlords Meawhile i Ontario there are still the rules and laws created by the humiliated and defeated former Liberal government of Kathleen Wynne (the defeated premier who lost to Doug Ford). 

What Are the Current Rules For Ontario Landlords?

Unfortuately the defeated (more like WIPED OUT) Liberal government rules still apply in Ontario. They allow renters on existing leases who don’t have any clauses against it to light and smoke hashish! Not only that, but tenants are allowed to grow up to four marijuana plants in your rental property and there is nothing you can do about it!

The Ontario Landlords Association wants the rules to change. 

The OLA says there is now a new government in power that is more business friendly and wants to help improve the rental industry.  And while there has been some media attention on marijuana and Ontario rental properties the new Ford government is not aware of just how big of a challenge this is for landlords across Ontario.

ola weed pic

Here is how the Ontario Landlords Association is helping landlords across Ontario ‘Take Action”:

Marijuana Will Be Legal In Canada On October 17th, 2018 And The Current Rules Allow Tenants To Smoke Weed In Our Rentals and Even Grow Plants!

This Will Lead To a Disaster For Ontario Landlords.

Other Provinces Have Made Changes To Protect Landlords…And We Need Changes Too!

Ontario Landlords Need To Be Protected From Tenants Smoking Weed In Our Rental Properties and Growing Marijuana Plants.

We Need To Protect Landlords, Our Tenants, and those investing in rental properties in Ontario!

Let Premier Ford and Housing Minister Clark Know We Need Urgent Changes. 

Ontario landlords take action on marijuana weed

(Click Above To Take Action Against Tenants Smoking Marijuana and Growing Plants)

 

Comments Off on Ontario Landlords Watch This – How Can You Stop Tenants From Smoking and Growing Weed?Tags:···

Landlord Forums in Canada

May 25th, 2018 · Alberta landlord forum, BC landlord forum, Canada landlord forum, canadian landlord forum, Landlord Forum, landlord forum canada, landlord help canada, Ontario landlord forum, Uncategorized

Success in progress

Where Can I Find a Landlord Forum in Canada? The Ontario Landlords Forum, Alberta Landlords Forum and Other Provincial Landlord Forums in Canada Allow Landlords to Network and Help Each Other

The number of stories in the news on landlords with bad tenants keeps growing.  In fact one experienced Ontario Landlords Association member said she can’t remember a time when things were worse.

She said tenants now think they are doing us a favor by renting from us!

 An Ontario Landlord Vents on the Challenges She Faces With Unfair Rules and Entitled Tenants

She put it this way:

“I took a risk to invest in a rental property. It wasn’t easy to get approved for the mortgage and it took years for me to even get the down payment money to buy it.

As someone who rented for years and years I made sure the property was cute, clean, very comfortable to live in, nice, and affordable. It was a rental property that when I was renting I would have dreamed with finding.

And also I wish I had rented from a nice landlady like I am.  But now the attitude is “screw you, I’m paying you!”  It’s almost like the government is telling tenants to fight landlords these days. It’s horrible! I really don’t know what these people are thinking.

Are they so entitled they think I should give them free rent?  What’s next free food?  Free beer?  Free weed?  Things sure have changes (for the worse!)”

An Alberta Landlords Association member wrote on the forum about facing a “midnight” run.

He wrote that in over 10 years of being a small residential landlord he never faced this before.  And he hears from lots of other small landlords that they are also experiencing this.

He wrote on the Alberta Landlords Forum: I am happy to share my experience with others on the forum. I’m out over $10,000 for being a bit rushed and not running proper tenant screening.  I kick myself over and over and now won’t trust anyone with a “big happy story”.

A BC Landlord wrote a huge thread on the forum about a tenant who damaged unit.

This was another hard-working investor who had saved for years to buy an expensive property in British Columbia.

The damages were far more than the damage deposit and the landlord had to max out her credit cards to cover the costs to repair. And to try to get the property in “good shape” to attract someone to rent she even had to ask her relatives to max out their credit cards!

Ontario Landlords Forum – Ontario Landlords Face New Challenges!

You can network with other Ontario Landlords by becoming a member of the Ontario Landlords Association.  Unlike other groups, this huge landlord community only need a one time registration fee to help you save money for great help and services.

BC Landlords Forum – Things are getting more complicated by the day!

BC landlords needs to make sure you protect your rental investment. Join the BC Landlords Association for a one time fee and get forum access and network with other BC landlords.

Alberta Landlords Forum – Protect Your Rental Business!

It was only a few years ago when the economy was strong and great renters were lining up to see your property. Things have changed due to bad political management. But you still have to protect yourself, your family, and your rental property!

Canada Landlords Forums

Things are getting more and more difficult for good landlords across Canada.

Make sure you network and communicate with other landlords to make sure your rental business succeeds. Whether you are an Ontario landlord, an Alberta landlord or a BC landlord, join your local association and get help to make sure you avoid these crazy and complicated situations and succeed!

Comments Off on Landlord Forums in CanadaTags:·····

Landlord Criminal Checks on Renters and Tenant Applicants in Canada

May 18th, 2018 · Canadian landlord tenant criminal checks, Criminal Checks, How landlords run criminal checks Canada, Ontario landlord tenant criminal checks, Tenant screening

Ontario landlords criminal checks bad tenants

Isn’t it time you join other landlords running criminal checks on tenants? Because there are a lot of bad people out there who can cause problems for you and your tenants

The neighbors are calling you every day and your voice mail is full.  You wonder how they even got your phone number!

You answer the phone and hear just about the same message from everyone on the street. It goes like this: “Landlord, do you know what is going on in your rental property?  Your renter is having people go in and out of the basement over and over, all night.” 

Sure, maybe he’s got a lot of friends.  What’s the big deal? Sure you have read about landlords running criminal checks on tenants but this could just be a big misunderstanding.

You continue to listen:

“There are cars parked on the street at midnight, 1am, 2am, 3am, all the time!  Even during the day your basement apartment looks like it’s a convenience store where people are going in to buy ‘something’. Sounds like more paranoia, right? 

So Why Are the Neighbors So Upset? 

Well it could be something valid, for sure.  But it could also just be other people on the street unhappy you have a rental property and cars are parking on the street.

You Go Do An Inspection

You give proper notice and do and inspect and when you walk in it’s bloody shocking! What is the problem? You go in and you immediately smell the reek of lots of weed that’s been smoked.  But that’s legal in Canada so no issues. 

But you look around and see pills…lots of pills…and opoids (you think, as you aren’t into drugs other than coffee and the occasion gin and tonic).

The place is also a mess.  And you see…NEEDLES all over!

Windsor Landlord Is Now Running Criminal Checks On Tenants

Tenant Leaves Behind Huge, Expensive Damages

The Windsor property manager said one of the biggest problems he faces it from renters who leave behind huge messes to clean up. 

Tenant Was a Drug Addict, Leaving 200 Syringes In the Rental

When one Windsor tenant moved out he made sure to leave a mess behind.  This time it was more then two hundred syringes all over the floors.

 canada criminal checks

Windsor Landlords Say they Are Now Going To Use Criminal Checks To Screen Applicants!

In the news report the landlord said “enough is enough” and he and other landlords and property managers were going to begin screening tenant applicants very, very carefully.  He said he would raise his screening to an ultimate new level and include criminal checks!

Can Canadian Landlords Run Criminal Checks on Renters?

Yes you can in many provinces. Of course, it’s important for you to check with your local authorities to see how you can do so the ‘right way’. However, you can make this part of your tenant screening process.

British Columbia Landlord Tenant Criminal Checks

In British Columbia the privacy commission says it’s ok for BC landlords to run criminal checks because criminal checks are fact based and not subject to your ‘opinion.’

Alberta Landlord Credit Checks

Yes, Alberta landlords can run criminal checks on their tenant applicants.  It’s just important that landlords get the consent of the applicants and also explain things clearly to them about how the checks work.

Ontario Landlord Credit Checks

Yes, Ontario Landlords can run criminal checks on tenant applicants in certain circumstances. It’s important to run check on every applicants as not to discriminate and to have a good reason for why you want to run the checks.

So the good news is the powers that be seem to understand that is IS important for small landlords to carefully screen who is renting out their rental property.

Make Sure You Follow The Ontario Human Rights Code On Screening At All Times

According to the CBC news report running criminal record checks in some circumstances may be considered discriminatory….but in other circumstances “it might make sense” The report uses an example where a single mom is wants to rent out a room in her house and making sure all the applicants interested require a criminal check could be reasonable because of concerns for her and her family’s safety. 

And the Human Rights Commission states that: 4.2.9  Criminal or other police record checks, Nothing in section 21(3) of the Code or Regulation 290/98 permits the use of criminal or other police record check in the context of rental housing

How Can Canadian Landlords Run Criminal Checks On Renters and Tenant Applicants?

Make sure you take your tenant screening to the next level as credit checks simply don’t provide enough protection these days. You can get access to high quality, affordable credit checks via:

BC Landlords – BC Landlords Association

Alberta Landlords – Alberta Landlords Association

Ontario Landlords – Ontario Landlords Association

Smart Canadian Landlords Are Running Criminal Checks on Renters and Tenant Applicants to Protect their Rental Properties!

 

Comments Off on Landlord Criminal Checks on Renters and Tenant Applicants in CanadaTags:·····

Ontario Standard Government Lease – Top 100 Clauses You NEED TO ADD TO PROTECT YOUR RENTAL!

May 1st, 2018 · ontario landlords, ontario landlords association, Ontario Standard Form of Lease Additional Clauses, Standard Form of Lease

Ontario standard lease clauses 2

The Province of Ontario has a new “government lease” called the “Ontario Standard Form of Lease” and it doesn’t protect landlords! You need to add important clauses in or you could get smoked!

Have you been keeping up to date on the new rules and regulations for landlords in the province of Ontario?  If not, you need to be aware of yet another huge change.  The Ontario Landlords Association says: Remember, your rentals are in Ontario, Canada and the changes keep coming fast and furious.

More Complications and Problems for Ontario Landlords

As if things aren’t already complicated enough for Ontario landlords now we have to start to use a bureaucratic “Ontario Standard Form of Lease” for new tenants we want to rent to as if April 30, 2018. This replaces how much of the Western world actually operates: with landlords making their lease and tenants signing it if they agree to the terms. For example, Alberta landlords can write up their own residential tenancy agreement.

You know….like a typical business contract.  Both sides see the lease, go over it and if the potential renter doesn’t like it they move on or the landlord changes it.

Ontario “Standard Form of Lease”

Except in Ontario “housing is a human” right and now it is a fact that Ontario Landlords have to use a government created “Ontario Standard Lease” when you rent to new tenants. And you need to use it for new renters, even if you and they don’t want to use it.

Why Do We Need The Ontario Standard Form of Lease?

There are said to be about 1.5 million tenants in Ontario and there are elections coming. So why not come out with a way to make tenants feel like they are being “protected” and hopefully get their butts to the voting booth to show their appreciation. 

Of course the reality that making things harder for landlords will simply lead fewer people to invest in rental properties when there is already a very low vacancy rate and rent prices are rising fast…well, don’t care about that, just vote for those who are ‘protecting you’.

ronald reagan landlord

What Are the Problems With the Ontario Standard Form of Lease?

You can take a look for yourself by clicking here: Ontario Standard Form of Lease.  It’s a bit of joke as that it is only a bare-boned skeleton of a document when it comes to what landlords and tenants actually discuss and agree upon (besides how much the rent will be). 

Good leases have lots of clauses which landlords and tenants agree on!  This is why we have a lease…to clarify the rules for each party in their business contract.

How Can I Get Help With the Ontario Standard Lease? 

The Ontario Landlords Association lobbied hard and succeed in at least getting a way for landlords to add in our own own “additional clauses.”  So you need to take advantage of this. It’s in the government lease and you can add stuff there or on separate sheets of paper.

What Clauses Should I Add To the Ontario Standard Lease? 

If you aren’t an expert you should get some help from expert landlords who have have a lot of personal experience. You can get help by getting information about the Ontario Standard Form of Lease Additional Clauses at the Ontario Landlord Rental Kit.  They say make sure you add balance as you don’t want to freak your potential renters out and they kiss you good-bye.

Ontario is Pro-Tenant And Anti-Landlord So Protect Yourself with Key Clause to the Ontario Standard Lease

Make sure you get advice from real landlords who have a lot of successful experience because Ontario is all about protecting tenants and not helping good landlords at all.  You need to be proactive to survive as a landlord in Ontario.

 

Comments Off on Ontario Standard Government Lease – Top 100 Clauses You NEED TO ADD TO PROTECT YOUR RENTAL!Tags:···

The Ontario Landlord Knowledge Vault Review

February 24th, 2018 · Ontario Landlord Knowledge Vault Helps Ontario Landlords, Ontario landlord knowledge vault review, Review of Ontario landlord knowledge vault

OLA vault

The Rental Process Has Changed and Keeps Becoming More Complicated. Make Sure You Become An Ontario Landlord Expert with the Help of the Ontario Landlord Knowledge Vault Created By Experienced and Successful Property Managers To Help You Succeed

Long time Ontario landlords know that it wasn’t all that long ago when you could trust people who wanted to rent your property.  To find good renters you just put up some ads with the location of the property, price, some details, and the calls came in. 

You met up with the prospective tenants at the rental and showed them around.  If they liked the place you asked them some questions about them.  If you had a good gut feeling you shook hands, took first and last months rent, and signed the lease.

ola handshake

The deal was done and on the first day of the month you handed over the keys.  Smart landlords would make sure they did a walk through with the tenants to make sure there were not needed repairs or required cleaning.  The tenants would move in, pay you 10 months of cheques so you wouldn’t have to bother them for rent each month, and it was smooth process.

Over the next year things were cordial between you and your tenants. There might be some minor issues they would call you about. Or they would let you know the roof leaked a bit or one of the burners on the stove was heating right.  As a responsible landlord you took their concerns seriously and made sure to look at the issues that might be brought up. 

And if the issues were serious you would make sure you did the repairs promptly.  Back then landlords and renters worked together to create stress free living for both sides. 

Landlords Respected Tenants

Landlords respected tenants.  If there were any issues we would correct them, and correct them quickly.  This only made sense as landlords want good tenants to stay for as long as possible so we don’t have to go through the re-renting process.You made sure your rental was safe and legal.

Renters Respected Their Landlord

In return tenants respected the fact that their landlord had invested a lot of their hard-earned savings into buying a rental. Tenants respected both the landlord and the rental property.

Nowadays things have changed dramatically!

The Rental Market Has Changed in Ontario

The great news is there are still many excellent tenants in Ontario. These tenants are people who make all the hours of work and risks you took to buy an investment property worth it

What does ‘good tenant’ even mean?

(1) A Good Tenant Respects you as An Individual and Will Treat Your Rental Carefully Knowing They are Borrowing It

These good tenants will ensure they will treat you in a fair and civil manner no matter what.  The are not brainwashed by the Landlord and Tenant Board that just because you own a rental you must be “evil” and “exploiting” them as tenants.  They also treat other tenants with respect and courtesy.

(2) Pay the Rent on Time

Good tenants pay the rent on time.  The don’t treat rent as something “down the list” of bills to pay (behind their iPhone and other bills).

(3) Good Tenants Follow the Lease

Good renters follow the lease agreement they signed.  They don’t try to “use the system” to rip off their landlord.  When they want to move out they provide legal notice and cooperate to show the unit.

Lots of Bad Renters Out There Who Want to “Use The System”

It’s really bad news but it’s true.  Many tenants out there have been taught to “use the system” to fight and rip off good Ontario landlords.  You see when there is lots of landlord versus tenant conflict it means more cases at the LTB and more money to employ thousands of people in the “tenant protection” system in Ontario.

Ottawa Landlord Left With Financial Ruin After Tenant Doesn’t Pay Rent and Trashes the Rental!

One horror story is from a Ottawa landlord who had tenants who destroyed his newly renovated rental property. While the landlord wanted a “win win situation” just like you do, the renter had other ideas.

The Renter Didn’t Want a “Win-Win”Situation! They Wanted To Rip Off The Landlord

The renter simply abused the landlord and ripped him off.  When the renter finally moved out the Ottawa landlord came in he was shocked to find the rental trashed and requiring tens of thousands of dollars to be fixed!

Where Can Ontario Landlords Find Help?

The Ottawa landlord above thought he could simply follow the system.  He trusted the LTB process and thought if he just filled in the right forms all would be okay.  After losing tens of thousands of dollars (and weeks of sleepless nights and high blood pressure) the landlord knows you need to do more than just fill out some LTB forms.

The Ontario Landlord Knowledge Vault Review

In order to help landlords like the one above experienced and successful Ontario landlords have created the Alberta Landlord Knowledge Vault. It’s a way landlords who “have been in the trenches” and dealt with “just about every situation you can think about” have found answers, got the results they wanted, and succeed.  Check it out here: The Ontario Landlord Knowledge Vault

Ontario Landlords Can Now Find Answers To Their Questions and Concerns in This Excellent Knowledge Vault Created by Experienced and Successful Ontario Landlords.

Comments Off on The Ontario Landlord Knowledge Vault ReviewTags:·····

Newmarket Renters Are DEMANDING Safe, Legal Rental Apartments And Won’t Accept Anything Less For Their Hard-Earned Rent Money

January 11th, 2017 · ADU, Canada landlords, Newmarket landlords, Newmarket Renters, Newmarket tenants

newmarket-renters-adu-newmarket-landlords-legal-rental-units

It’s a Wake-Up Call For All Canadian Landlords, including Newmarket Landlords – Good Newmarket Renters Are DEMANDING Safe, Legal Rental Apartments And Won’t Accept Anything Less For Their Hard-Earned Rent Money

We receive messages from all sorts of social media and thought this one was special. It’s an important message for Newmarket landlords and Newmarket tenants. 

Actually it’s more than that: it’s a message for landlords all over Canada.

It was a from a post from a renter who is upset and actually did something about it. Her name is Robin. Now she wants to help other renters.

Put yourself in Robin’s position.  She’s a single mom who just went through a very tough break-up. Her boyfriend was abusive and it was time for the relationship to end.  She left.  And she took her two kids with her. Her kids are young…very young.

This is her message to other renters out there who may face the same challenges she has recently.

Lots of Jobs In York Region

Robin is back to work.  Daycare is expensive, but she’s doing her best to raise her two children the right way.  She has a pretty good resume and found a good job in York region. But if she wants to advance up the career (and salary) ladder it’s going to require night courses and more certification.

It’s all been a struggle but with strength, optimism and belief in a good future she and her family are doing all right.

Renting in Newmarket, Ontario

After finding a job in York Region Robin had to find a place to live. She was looking for a place to stay long term. She wanted to find an area that was safe, had good access to her place of work, and also was an area that she felt comfortable in.

So she spent weeks looking around York Region, checking out places like Richmond Hill, Vaughan and Keswick. 

She ended up choosing Newmarket, Ontario. 

Why Does Newmarket Have So Many Good Tenants?

Robin said she found Newmarket really appealing upon her first visit. Travel to Newmarket is really easy with access from Highway 404, or Leslie St. or Bayview or Yonge Street or even the 400 Highway. 

There are a lot of good schools and great shopping, all local. The town is safe and Newmarket is growing fast. Newmarket real estate is booming! This led her to believe once she gets more money saved she will buy her own house there.

Rents Are High In Newmarket (and so are cap rates)

Robin looked at several places on the market. She found Newmarket rental prices affordable and loved the easy access up Davis Drive to the GO station. She decided on a nice two bedroom basement apartment.

When she visited the property the landlord required a credit check and Robin was fine with it. After checking her references along with the credit check proving her financial responsibility the landlord agreed to rent to her. The landlord didn’t live upstairs so she was eager to introduce herself and her children to the upstairs people.

Smoke Issues

While Robin and her kids made their basement apartment cozy and friendly, there were some problems with the upstairs tenants. They were noisy but that could be dealt with.

The real problem was they smoked. A lot. And they left cigarette butts all over the place, including in the shared laundry room, sometimes on the carpet.  This was a fire hazard as the carpet could catch fire.

She noticed that the her property didn’t seem very safe. The first thing she noticed was the entrance door to her apartment was flimsy and, God forbid, there ever was a fire she would have no time to get herself and her family out. There was also no exit for them from her unit.

The Newmarket Rental Apartment Was Not Legal

Robin called her landlord and the landlord said the place was safe and “not to worry about it.”

She then asked her neighbours for advicer and was told that her property probably wasn’t legal. Robin went to the Town of Newmarket ADU list of legal registered basement units and was shocked to find her home wasn’t on it.

This was scary time as she realized she was living in a potentially very unsafe rental property.  She was paying a lot of rent and her landlord didn’t even take her concerns seriously!

What Happened To Robin?

Here is what she wrote in her email:

“Fortunately I am a fighter and nothing is more important then the safety of my children! I did some studying and found out the best people to call for help. The landlord ended up being forced to make a lot of changes and make the property safe for us. 

We are still here and our lives are moving forward. When you are struggling with new jobs, kids and life in general you need a good, SAFE place to call home. Please pass on the following information to help others who are in the same situation we were in not that long ago.”

1. Newmarket Renters Can Call The Newmarket Bylaw Department for Help

Renters call call the Newmarket Bylaw Department and they will quickly send an inspector to look at the property. They won’t even tell the landlord! If there are any problems the landlord will be notified to fix them or face very large fines and penalties.

All it takes is one one call to the Newmarket Bylaw Department at 905-895-5193

You can also go to their website at Town of Newmarket Renters Rights Bylaw Department at:

http://www.newmarket.ca/LivingHere/Pages/By-laws/By-law-Complaint-Process.aspx.

2. Newmarket Renters Can Call the Fire Department For Help

Newmarket renters can also make sure their rental home is legal and safe by calling Central York Fire Services (which is the Newmarket fire department).

Just give them a call and they will send someone over to do an inspection.  If the rental unit isn’t legal the landlord will be ordered to do the expensive and repairs or they could be heavily fined for not caring about the safety of their tenants. 

You can call Central York Fire Services at 905-953-5129.

You can also visit their website Central York Fire Services Tenant Safety at  http://www.cyfs.ca/operations

3. Newmarket Renters Can Call The Ontario Government Enforcement Unit for Help

You can also call the Ontario government for help. The RENTAL HOUSING ENFORCEMENT UNIT can be called at their toll free number 1-888-772-9277.

And the website is http://www.mah.gov.on.ca/page142.aspx

Make Sure Your Rental Property is Registered and Legal and Safe

People from other areas are unaware of the Newmarket system.  More and more areas are following the process to create registered and legal and safe rentals such as in Barrie. This is great news for Barrie landlords.

Good Real Estate Agents Will Tell You How Important It Is To Buy A LEGAL RENTAL PROPERTY

Unfortunately some realtors aren’t giving the full story about the importance of owing legal basement apartments. When you buy a house check with the city or town where you are buying in. Find out about their rental policies. 

And make sure your rental is safe, registered and legal to protect your tenants (and to protect yourself from fines and costly repairs and changes you will have to do while your tenants are there).

Good renters deserves good landlords…and demand safe and legal rental properties.

Comments Off on Newmarket Renters Are DEMANDING Safe, Legal Rental Apartments And Won’t Accept Anything Less For Their Hard-Earned Rent MoneyTags:········

Newmarket Ontario Landlords Talk About Investing and Becoming Successful With Newmarket Rental Property

January 7th, 2017 · Newmarket landlords, Where to invest in Ontario Rental Property

Success in progress

Newmarket Rental Property Advice – How You Can Become a Successful Newmarket Ontario Landlord

Every landlord wants to buy the right investment property. After all, if you buy in the right area with the right type of property you are well on your way for success.

Experienced and profitable landlords tell us that buying the right property in the right area is absolutely essential for both short term and especially long term success as a landlord. Even if you are the most fantastic landlord ever, if you are in the wrong place with the wrong rental property it will be tough to succeed. Find the right place and the right property and your odds of doing well multiply fast!

This is why Newmarket landlords have been experiencing ‘wild’ times over the past year (in a good way!) and why it’s a place you should look at when investing in residential rental properties.

Aren’t All Properties Appreciating?

The media keeps telling us Canadian property prices are going up, up and up. However, smart investors know that not all markets are created equal.

The reality is prices are not appreciating equally across Canada and some markets are even dropping.

Vancouver and the Greater Vancouver Area (GVA)

The Vancouver and Greater Vancouver areas have seen some terrific appreciation over the past five years. The problem for residential rental property investors is the cost of getting into the market.

With prices so high, it will cost you hundreds of thousands of dollars to buy a property. And with such high prices can you cover your mortgage? Can you cash-flow? Can tenants afford the higher rents you need to cover your costs?

Toronto and the Greater Toronto Area (GTA)

The Toronto and Greater Toronto Area is similar to the GVA. The market is hot, prices are rising and there is a large number of good tenants in the area. The problem is prices are very high and rental rates don’t make sense for many experienced investors.

Still, with the lower prices compared to the GVA and the larger number of good tenants it’s a very attractive area.

Where Should You Invest in the GTA?

As we mentioned above in many ways the entire area has a lot of potential. The key is to find a property that meets the needs successful landlords look for before investing our hard earned dollars.

One area that many landlords are investing is Newmarket rental property. Why? Because if you look at it the ‘needs’ we wrote about outmatch other areas in the GTA.

1. Can I Get In To The Market?

Yes.

Prices are still lower than Toronto and other popular urban areas such as Richmond Hill. And the good news is if you get in now Newmarket property prices are rising fast.

2. Are There “Winning” Properties Available To Buy?

Yes, but as we said prices are rising fast and the best rental properties are getting bought up.

3. Where Are the Winning Properties?

You have to avoid certain areas such as the “dog patch Newmarket” and invest in winning areas such as near the South Lake Regional hospital.

4. How Are the Rents?

Rents are high. This is good news for landlords who want monthly rents to cover their mortgage or even create some cash-flow.

5. How is the Tenant Pool? 

This is something experienced and successful landlords take extremely seriously. Of course you must always screen your tenants carefully with a credit check. Ontario Landlords Association Membership allows you to run premium credit checks at great rates! The good news is there are lots of qualified tenants in Newmarket, Ontario.

Investment Property Opportunities

Smart landlords are always looking for up and coming areas with great opportunities. Make sure you keep reading and networking and look into growing areas and consider becoming a Newmarket landlord. While looking there, Barrie landlords suggest you also look at their city as it’s also a great place to invest in 2016!

Comments Off on Newmarket Ontario Landlords Talk About Investing and Becoming Successful With Newmarket Rental PropertyTags:·······

Newmarket Real Estate Prices – Newmarket Landlords How Much Is Your Rental Property Worth?

January 28th, 2016 · Newmarket landlords, Newmarket real estate, Sell Your Ontario Rental Property

Newmarket Real Estate Sold Prices

Newmarket Ontario landlords and property owners want to make sure they sell at the best price

There is a terrific post at the Newmarket Landlords site that is important reading for landlords and property owners all over Ontario.

In the post, it explained many Newmarket Ontario Real Estate Prices (The Real Story) who wanted to sell their rental property felt increasingly concerned about real estate agents “low-balling” them. By low-balling they meant real estate agents are advising people to list their properties at price that is below what they could truly sell for.

Most properties are put up for sale on the MLS system. You can go to MLS.ca and see houses for sale. However, if you are not a real estate agent you can’t see what the properties actually “sold” for.

This means you must rely on the real estate agent to “guide” you, as they have access to the sold prices in your area. Think what a ridiculous system this is in Ontario. In order to set a proper selling price for your property you need to see what the market is.

You can only do this by seeing what other properties sold for, right? But you can’t. At least you can’t do it yourself. You need to rely on the real estate agent to show you the sold prices.

The problem is you don’t know if the real estate agent is showing you the real solds in the area, or at least what solds they may have omitted. In this system you, the Seller, are basically blinded when trying to sell what is probably the biggest financial asset you will ever have.

There was a an important report in the Toronto Star about how the system works in the USA compared to Ontario. In the US, bother buyers and seller can find out sold prices using various websites. Americans can make informed decisions based on their own research. In comparison, Canadians are kept blind by an unfair system that can be abused by real estate agents.

Newmarket Real Estate: Beware of Low-Ball Prices To Sell Your Home

The Newmarket landlords site states they have seen many properties go on the market for prices that are far less than what the sellers could actually sell for.

In order to help sellers make informed choices they listed some recent sold properties (along with the prices).

Newmarket Rental Properties Sold

1. 100 Sheldon Ave. Newmarket, Ontario 

REAL ESTATE 100 Sheldon 1

This property sold for Sold For $508,000 in October 2015.

2. 88 Newbury Drive, Newmarket Ontario

REAL ESTATE 88 Newbury Newmarket

This property sold for $515,200 in October 2015

Newmarket Detached Homes Sold

22 Old Field Cres. Newmarket Ontario 

Real Estate 22 Old field Newmarket

Sold For $870,000 in November 2015

104 Thatcher Cres. Newmarket Ontario

REAL ESTATE 104 Thatcher cres Newmarket

Sold For $835,000

206 Aspenwood Drive, Newmarket Ontario

REAL ESTATE 206 Aspenwood sold

This house was listed at $749,000. It sold in a little over a week for…$806,000

Stouffville Property Prices

3 Lodestone Lane, Stouffville Ontario

REAL ESTATE 3 Lodeston Lane Stouffville Ontario

Sold For $630,000 In October 2015

Don’t Get Ripped Off! Sell Your Property for the Real Value (and don’t get low-balled!)

Prices are rising quickly in Ontario and rental properties are sought after and extremely valuable).

Newmarket landlords saw the beginning of the huge price rise for Newmarket rental properties a year ago, and now it’s growing even faster.

Just as Alberta landlords and BC landlords have experienced in their home provinces before, we are experiencing tremendous price appreciation in the GTA.

Make sure you protect yourself and get the real value of your home when you list if for sale.

Comments Off on Newmarket Real Estate Prices – Newmarket Landlords How Much Is Your Rental Property Worth?Tags:

How To Be A Successful Alberta Landlord

August 3rd, 2015 · Alberta Evictions, Alberta Landlord Credit Check, Alberta Residential Landlords Association, Tenant screening

 Alberta Residential Landlords Association

 

Experienced Alberta Residential Landlords Know the Importance of Screening Tenants Carefully

Recently there was some excellent advice on the Alberta Landlords Association forum that has must read information for anyone who owns a rental property. It was from an Alberta residential landlord who has a property in Edmonton.

The question was asked by an Edmonton landlord who wanted help trying to find new tenants for his investment property. He had applicants that he wasn’t sure how to handle and wanted to know what experienced and successful would do in his situation.

His complicated situation was he had a couple of people from another province apply to rent from him. The two people were two men who after viewing his rental told him how much they liked it and how much they wanted to move in.

The landlord wrote that he like the two applicants. During his chat with them when they viewed the property he admired their strong vision for a successful future and their willingness to work hard to achieve their goals.

They told him their last landlord in Ontario wasn’t very professional and they had to take him to the Landlord and Tenant Board (the Ontario equivalent of the Alberta Residential Tenancy Dispute Resolution Service) to make repairs to the property they rented. His lack of making any repairs created a bad relationship. Because of the conflict they didn’t provide their last landlords contact information because they know the landlord would lie about them.

The Edmonton landlord wanted to believe the two applicants but wanted to know if there was a way he could find out if they were telling the truth or not.

Tenant Screening

The question is an excellent one. Tenant screening is essential to find and rent to good tenants. This landlord had a good ‘gut feeling’ but no concrete information.

The replies he received were helpful for anyone investing in and managing income properties.

1. Run A Credit Check

The first response to the question was from a fellow Albertan who advised him not to believe a word the applicants said without checking them out. You need to run credit checks to find out who they really are and what their background really is.

They might be telling the truth. Running a check through the Alberta Landlords Association will show you if they are the real deal or not.

2. Due Diligence

Another reply urged him to do his due diligence. This means calling the former landlord and finding out what he says about them. If he is negative that’s okay because you are getting another side of the story from the original source, unfiltered by the potential renters.

If the tenants went to the Landlord and Tenant Board, that’s fine. But what about other landlords they might have had? Was that their first time renting? Do you believe it? It’s up to you to find out.

3. Dodged a Bullet

The thread went on with another experienced landlord telling him he should count his lucky start because he probably dodged a bullet. By this he means these could very well be professional tenants. He said if applicants don’t provide him with everything he needs to know to screen carefully he won’t rent to them. The risk of damages and unpaid rent is just too high.

How Can Alberta Residential Landlords Screen Tenants?

Experienced landlords know the important of tenant screening. Renting to a bad tenant can end up easily costing you thousands of dollars. There are many examples of this in our province.

You can screen tenants with Alberta Landlords Association membership. You get all the documents you need, can network and learn from others, and you can run credit checks for an affordable price. You can become a member for only a one-time registration fee.

Make sure you do what it takes to avoid bad tenants and rent to all the good tenants out there who are also looking to rent from a good landlord.

Comments Off on How To Be A Successful Alberta LandlordTags:····

Is Alberta Landlords Association Membership Worth It?

February 16th, 2015 · Alberta Landlords Association Review, Landlord Forum, Leases, Rental Kit, Uncategorized

Alberta Landlords Association logo

Since we posted our review of the Alberta Landlords Association last summer we’ve received a number of replies and they opinions in the emails have been strong in support of the ALA and all the services and tools they provide Alberta landlords with for a very low one-time registration fee..

It’s been a pretty interesting last 8 months for landlords in Alberta. Last summer and fall the media was reporting constantly on how life was so easy for landlords and tough for Alberta tenants.

We kept seeing articles like in Metro Calgary where tenants were complaining about rent increases. Even Calgary Mayor Nenshi weighed in saying Calgary landlords were ripping off tenants and only the a representative from the Alberta Landlords Association hit back with real information and took the mayor to task!

Almost overnight the stories changed.

With the price of oil dropping the media finally took notice in December 2014 and suddenly we began reading and seeing stories how the real estate market is dropping that there might even be a real estate bubble that will burst. These news reports have gotten even stronger in 2015 with so many inexperienced media people saying Alberta landlords are facing doom and gloom in 2015 and beyond.

Review of the Alberta Landlords Association

Our review post caught a lot of attention and led to a lot of landlords to look into joining the ALA. We recommended joining because of a lot of factors including:

1. One Time Registration fee

Unlike the traditional groups who charge high annual fees, you can become a member of the Alberta Landlords Association for only a one-time registration fee.

2. Excellent Alberta Rental Kit

All the documents you need and you can download them 24/7.

3. Private Members Forum

Thousands of successful and experienced landlords network and help each other in the Members forum which cannot be seen by the general public.

4. Educating Landlords

There are manuals and CDs to help landlords learn the ropes fast and learn tips and tricks.

5. Premium Credit Checks

As a member you get access to premium Equifax, Garda, and TVS credit checks to make sure you rent to good tenants and avoid the professional tenants out there.

Edmonton Landlord

A landlord from Edmonton wrote in her thanks for recommending membership.

She wrote: I used credit checks from the ALA and the applications and lease and it was all PERFECT!

We also had a landlord who rents out in Calgary send us the following: Joining the Alberta Landlords Association was the best thing I’ve ever done.

Is Membership With the Alberta Landlords Association Worth It?

Based on the messages sent in the answer is a resounding yes!

For only a low one-time registration fee landlords all across Alberta can get great rates for premium credit checks, the amazing ALA rental kit, and other helpful services and tools to help you succeed!

Many people say the credit checks and the Alberta Landlords Rental Kit is awesome.

Comments Off on Is Alberta Landlords Association Membership Worth It?Tags:··