In the unfortunate circumstance that a homeowner is past-due on their monthly mortgage payments, they pave the way for a “foreclosure” on their property. In today’s market, banks and other lenders do not turn to foreclosure to take away the homes of homeowners who are in arrears. Instead, they perform a "Power of Sale" which is wholly different from a Foreclosure. What is a Foreclosure? Foreclosures are laborious, grueling, and costly to both the... [read more]

Probably the main thing that stops potential real estate investors from buying rental properties is the fear of getting a bad tenant. I know there are bad tenants out there but it’s my firm belief (and my experience) that taking some fairly easy and straightforward steps can prevent most cases of bad tenantitis! DRESS YOUR PROPERTY FOR SUCCESS Your property will attract the level of tenant it deserves. If your property is dirty and in a state of disrepair it will attract tenants who... [read more]

The Wynne government recently introduced legislation called the Ontario Fair Housing Act to try to control house price increases and rental price increases in the Greater Golden Horseshoe area. Part of the act is to cap rental increases to 2.5% per year. So a landlord will be able to raise the rent of an existing tenant by no more than 2.5% per year. Ontario had rent controls before this but they only applied to properties built before 1991. So technically, a landlord could raise the rent... [read more]

Buying a residential investment property is a big decision and should not be done without first doing your homework. Here are 10 important things to consider before you purchase. 1. What Type of Property Do You Want There are many types of properties to invest in including condo apartment units, condo townhouse units, freehold townhouse units, semi-detached homes, single family detached homes as well as multi-family homes such as duplexes and triplexes. A condo apartment unit is probably... [read more]

When is the best time to sell an investment property? Given the price increases over the past couple of years in the GTA real estate market, many investors have most likely thought about cashing out of their real estate investment. While the strength of the real estate market is an obvious reason to sell, real estate investors must also consider the situation with the current tenant before listing their investment property for sale. Many landlords don’t understand the... [read more]