Owning 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 ReadingReal estate transactions often involve: large financial commitments, legal obligations, emotional decision-making, negotiations, deadlines, and rapidly changing circumstances. In this environment, misunderstandings can easily occur if communication is: unclear, incomplete, inconsistent, or poorly documented. Many real estate disputes are not caused solely by intentional misconduct. In many cases, disputes arise ...
Continue ReadingREALTORS® are proud to work with a wide range of clients, who bring with them every sort of request you can imagine. Popular asks include market insights, location, budget, size and amenities, as well as viewing schedules, home inspections and financing guidance. The Canadian Real Estate Association (CREA) asked REALTORS® ...
Continue ReadingDon’t brush off these telltale signs of a bad real estate agent Did you choose your real estate agent based on a friend-of-a-friend’s referral, a quick Google search, or even a flyer in a mailbox? Is your gut telling you it isn’t the right fit, but you’re not sure if ...
Continue ReadingAre we able to see what others are offering before we make ours? This has been a more common question lately, as many transactions are taking place with multiple (competing) offers. Sellers represented by real estate brokerages in Ontario accept offers in what is referred to as closed bidding process, ...
Continue ReadingMany people assume successful real estate negotiation is primarily about: achieving the highest price, negotiating the lowest purchase price, or “winning” financially. However, sophisticated real estate negotiations often involve much more than economics alone. Strong negotiation strategy may also involve: risk allocation, timing, financing structure, conditional protections, operational flexibility, documentation, ...
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 ...
Continue ReadingAre you looking to transfer real estate property during your lifetime to your children? Maybe your rental property or a cottage? First of all, yes it’s possible, but take the time to evaluate all the possible scenarios. There are many solutions available and they all come with their share of ...
Continue ReadingMany home sellers are looking for ways to make more out of the sale of their home. Because houses represent one of the largest purchases in many Canadian’s lives, it’s only natural for you to want to make all that you have put in (plus some, if the market is ...
Continue ReadingBuying or selling a home can be a complex and high-stakes process. As such, certain procedures and legal documentation exist to protect all parties involved while ensuring everyone is on the same page throughout the process. Melissa Douglas—owner of Douglas Law Firm based in Bradford, Barrie, and Vaughan, Ontario, a ...
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