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 ReadingThis one is for agents…. Published by Kartik Subramaniam, founder, Adhi Schools Introduction: In the competitive world of real estate – sometimes, it’s in their best interest to walk away from a potential deal. Aspiring agents are often eager to take on any listing, assuming it’s a stepping stone to success. In ...
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 ReadingWhen REALTORS® use commission reductions, it is essential to create an appropriate agreement in order to comply with the Trust in Real Estate Services Act, 2002 (TRESA 2002). In a commission reduction agreement, the listing brokerage agrees with the seller to reduce commission that was previously agreed to. The following are ...
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 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 ReadingThis post deals with the topic of REALTORS® receiving and/or paying referral fees to third parties who may not be directly involved in a real estate transaction. Depending on the specific situation, this may not be permitted under the Real Estate and Business Brokers Act, 2002 (REBBA 2002) and in other situations written ...
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 ...
Continue ReadingPowered by IXACT Contact® Real Estate CRM Software
