What Makes a Good Tenant?

When you own rental properties, you want to ensure that you have good tenants. But what is the definition of a good tenant? How do you find someone who meets the attributes of a good renter? Is it an individual who pays rent on time or a renter who keeps the property clean and neat? Both of course, but there are also other factors involved that help landlords find good quality tenants, individuals who help you succeed with your investment properties. Responsibility is a Key Quality Responsibility has been found to be a key component when dealing with a good… [Read More]

Should you rent in the city or in the suburbs?

When renting a dwelling in a major city of Canada, you usually have one or two options as the renter; living in the inner-city or the suburbs. So as the renter, you have to decide if you wish to live in either area and look at the pros and cons of each. By seeing the up and downs to both areas, you can make the best living decision based on what you need as an individual. Below is a comparison of each type to help you decide. Suburban Living Pros and Cons We will begin with suburban living. When living… [Read More]

What you need to know about the Ontario Rental Fairness Act

Whether you are a renter or a landlord, it is important to understand the Ontario Rental Fairness Act and how it applies to you. The Residential Tenancies Act is currently being tightened in Ontario with standardized leases being introduced, which can lead to tenants having a hard time removing themselves from a tenancy agreement. Understanding the legalities of renting, from a tenant and landlord perspective, will help you to stay protected when renting or providing the rental property. Read on to understand more and how it applies to you specifically. Changes Made The government of Ontario made several changes to… [Read More]

Why landlords don’t accept credit card payments

When you become a rental property owner, there are many new things to learn. From working with tenants to the upkeep of the property, there is a lot to cover. For most real estate investors, a property management team is hired to handle the daily work so that the investor can focus on their business. When you own a residential rental property, you will find that most landlords do not accept credit card payments for rent due to a number of factors. Find out why it’s smart to avoid credit card payments and accept only cash or checks for monthly… [Read More]

How to deal with Vacant Real Estate Properties

Using real estate as rental property is a process that many individuals use in order to make money. Residential real estate, vacation homes and even commercial property can be a solid investment when used as rental property. Property renting can provide a steady stream of income but what do you do when your property is vacated? While monthly rent payments will pay the bills, it can be detrimental to your finances when you lose a regular tenant. Below are a few tips on how to deal with vacant real estate properties to maintain your investments. Assess Your Property To begin,… [Read More]

3 Reasons Why Landlords Might Now Want to Sign a Lease

If you are considering using a property you own as a rental property, it is important to understand the logistics involved. For a legally binding rental agreement, a lease must be signed. However, there are those landlords who do not sign a lease. Any property management company will insist that you sign an agreement with the tenant to ensure the property is treated well and that tenant is legally bound to pay the monthly rent. Working with a property management company is a great idea as it offers you added support as well as knowledge when you are entering the… [Read More]

Common Maintenance Requests At A Residential Rental Property

When you decide to purchase a residential property, you will find the process can be time consuming. You will have to care for the property and provide maintenance when the renter has an issue. If you are not handy yourself, it is recommended that you have contact with a plumber, contractor, etc. so that you have someone you can go to when problems arise. As a landlord, property maintenance is your responsibility and you will find that it can take up a great deal of your time, especially when you have multiple properties. It can be beneficial for you to… [Read More]