Larry Hoover, P&C insurance broker, will join me to give investors some tips about rental property insurance. Here are the questions that we will cover: Does the insurance company care who manages the rental property? Does distance between the property manager or the owner from the rental property matter? How often does the Property manager …
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 …
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 …
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 …
Can a landlord have a no-pet policy? Landlord can ask if tenants have pet before move-in. Landlord can reject tenants because of their pets. However, after the tenants move in, landlord cannot evict the tenants because of the pet. “No-pet” clause in rental agreement are void in Ontario. When can landlord evict a tenant because …
Did you know that tenant can withhold 1 month of rent if you do not provide an Ontario Standard Lease? On February 7, 2018, Ontario’s Ministry of Housing released the new Residential Tenancy Agreement (Standard Form of Lease). It’s also commonly known as the Ontario Standard Lease. This new lease is supposed to make it …
Why is it important to use an Ontario Standard Lease? Read More »
