When investing in commercial real estate, it’s important to consider the following factors: Location Look for properties in areas with a strong economy and good transportation access. Depending on the types of commercial real estate, the locations might be different and your target tenants will be different as well. You have to select the locations […]
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https://youtu.be/y1imqv5q_Zw Understanding Toronto Vacant Home Tax City of Toronto has just enacted the vacant home tax. Here are some highlights that you should know if you own any properties in the City of Toronto: Everyone Has To Complete Toronto Vacate Home Tax Declaration You must complete a declaration about the occupancy status annually. To submit
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https://youtu.be/gEu5AOjfUHU Understanding Commercial Rent Commercial rent is calculated quite differently than residential rent. There are some basics about commercial rents that we must know. Commercial Rent Basic Terminlogies Base Rent TMI – Property Tax, Maintenance and Insurance Gross Rent HST How to Calculate Commercial Rent? The base rent, sometimes called net rent, is the
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Are you sick of the LTB? If so, maybe you should explore being a commercial landlord. Commercial Tenancies Act is a law for commercial tenancies only. Does not apply to residential tenants and landlords. The Ontario’s Commercial Tenancies Act describes the relationship, rights and obligations between commercials tenants and landlords. Strongly recommend you obtain legal
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Disclaimer: This is not legal advice. It’s merely my own interpretation of what was read from articles on different websites. If you need legal advises, please consult with your legal counsel. The author or anyone else connected with this website, in any way whatsoever, can be responsible for your use of the information contained in
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What is POTL? POTL stands for Parcel of Tied Land (POTL). It is a concept related to Condominium Corporations. To understand POTL, it’s essential to have a basic understanding of Condominium Corporations. There are different types of Condominium Corporations, with the most common being the standard condominium, which includes condo buildings, high-rises, medium-rises, and townhouses.
As a landlord, there are various ways to handle utilities in different types of rental properties. Let’s explore the options for different building types and how each utility can be managed. 1. Utilities for Single-Family House: All-Inclusive: In this scenario, the landlord pays for all utilities, including gas, water, and hydro. The advantage is that this
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This is a true story that happened to a fellow investor, highlighting the importance of proper property manager vetting and taking necessary steps in case of such incidents. The fellow investor had hired a property manager who was responsible for collecting rent on their behalf.Typically, the property manager would deduct their fees and other expenses
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I am buying an investment property with tenants, do I have to assume the tenants? What are my options? Your Options Assume the tenants Ask for vacant possession on closing Assume the tenants, then try to negotiate with the tenant after closing (e.g. cash for key) Assume the Tenants If the rents are not too
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When it comes to interviewing property managers, I have found it beneficial to follow a structured approach and utilize a spreadsheet to document the results. Below are the questions I include in the spreadsheet, along with a brief explanation. For detailed explanations and insights, I recommend watching the accompanying video. Company: Record the name of
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