Buying a multi-unit, meaning a building with five or more units, can be a great opportunity for investing in real estate. But before diving in, it’s important to know everything that’s involved with such a purchase, and the requirements that come with it. Here’s my advice if you’re interested in ...
Continue ReadingRules for rent increase In most cases, the rent for a residential unit can be increased 12 months after either: the last rent increase the date the tenancy begins The landlord must give a tenant written notice of a rent increase at least 90 days before it takes effect. The proper forms for this notice ...
Continue ReadingAs multi-generational families are opting to live under one roof, homeowners may want to renovate to accommodate this growing demographic. Here are some tips to create an inviting home, while also maintaining universal appeal for all occupants regardless of age. Keep your options open When planning renos, keep your floor ...
Continue ReadingCreating a second suite can help investors: increase rental income, improve property cash flow, support multi-generational living, and enhance long-term property value. However, many investors underestimate the complexity involved in converting a property into a legal and properly functioning second suite. A second suite project may involve: zoning review, building ...
Continue ReadingThe Canadian Centre for Housing Rights (CCHR) is Canada’s leading non-profit organization working to advance the right to housing. For the first 35 years of their existence – from 1987 until 2022 – CCHR was called the Centre for Equality Rights in Accommodation (CERA). The Canadian Centre for Housing Rights ...
Continue ReadingOwning rental property can provide: long-term income, asset growth, and investment diversification. However, many small landlords underestimate the amount of: legal responsibility, operational risk, documentation discipline, and regulatory compliance involved in managing rental property. Landlord liability can arise from issues involving: maintenance, tenant safety, communication, lease enforcement, insurance, human rights ...
Continue ReadingThe report from the Ontario Real Estate Association’s Presidential Advisory Group on Diversity, Equity and Inclusion. The overarching goal of the PAG is to identify where systemic racism occurs in the real estate and housing sectors… Over the past two years, a racial reckoning has taken place, triggered by a ...
Continue ReadingTenant screening is one of the most important operational and risk-management responsibilities landlords face. However, many landlords either: screen tenants too casually, or: apply inconsistent or poorly structured screening practices that may create additional liability exposure. Improper tenant screening can lead to: payment problems, property damage, operational stress, disputes, legal ...
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