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All Forum Posts by: Account Closed

Account Closed has started 4 posts and replied 12 times.

Post: Bill 144, Real Rent Control

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

@Warner L.

I will have to listen to that, I didn't know her husband had a podcast.

I have definitely reached out my local MP, here is to hoping it doesn't go through.

Post: Bill 144, Real Rent Control

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

@Matt Geerts 

 I couldnt agree more. My concern is regarding real estate prices if this goes through and everyone has the same idea to sell. 

If inventory is suddenly flooded and investment properties are not so desirable, our resale obviously tanks. 

Post: Bill 144, Real Rent Control

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

Hey BiggerPockets,

I wanted to reach out and see what the communities thoughts were on Bill 144, Real Rent Control. If you are not familiar, I included an excerpt from Cherry Chan below.

There are some really alarming changes for rent control. 

Thoughts and comments?

http://realestatetaxtips.ca/war-small-business-own...

Bill 144, Real Rent Control Act, 2017

“Lawful rent for new tenant

113 Subject to section 111, the lawful rent for the first rental period for a new tenant under a new tenancy agreement is,

(a) any amount that is equal to or less than the last lawful rent charged or that ought to have been charged to the previous tenant if the rental unit was previously rented in the last 12 months;

(b) with respect to a rental unit that has not been rented in the last 12 months, an amount that is equal to or less than the sum of,

(i) the last lawful rent charged or that ought to have been charged to the previous tenant,

(ii) all increases to the rent that the landlord would have been permitted to make under this Act if the rental unit had been occupied, and

(iii) all decreases to the rent that the landlord would have been required to make under this Act if the rental unit had been occupied; or

(c) the rent first charged to the tenant if the rental unit was not previously rented.” (Source.)

The new bill prevents any rent increase, other than the specific percentage allowed by the Ontario government, even after the previous tenants get out.  

Post: Looking for a Handyman in Windsor Ontario

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

Hey Matt,

Shoot me a text or a call, I may have someone. 

Nate

Post: Thoughts on the canadian market, podcasts on canadian RE and help

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

@Matt L. Pretty simple, I just went on Kijiji. 

Post: Thoughts on the canadian market, podcasts on canadian RE and help

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

@Matt L. That is not entirely true. I have bought 5 properties in the last year in Ontario, the cheapest being $62,000 (SFH) and most expensive being $177,000 (triplex). I also just started working with a local wholesaler who sends me sub $100,000 houses regularly.

My average price per door is in the $62,000 range. 

There are deals out there, you just have to be willing to put the time in to look and jump at an opportunity when it presents itself. 

Post: Property Management Software Canada

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

@Madeline Burke I am struggling to find a Canadian friendly software that has that capability unfortunately. I may end up having to use several suites of software to do what I need.

Post: Property Management Software Canada

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

@Roy N.

I also went through the whole site and came up with the same results. 

Post: Property Management Software Canada

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

Thanks for the feedback everyone. I am not sure if Quickbooks is right for me. I am looking for something more property management based, as I am looking into large multi-families with a current investor. 

I would like to be able to automate some tasks and be able to provide various investors access to reports and financials. 

Does anyone know if 123Landlord is Canadian Friendly?

It sounds like I may need to use a suite of software / vendors being located in Canada:

1) PM Software - General

2) Online rent payment vendor - Canada Based

3) Accounting software - Canada Based

4) Tenant Screening - Canada Based

Post: Property Management Software Canada

Account ClosedPosted
  • Investor
  • Windsor, Ontario
  • Posts 18
  • Votes 9

Hey BiggerPockets,

I am looking for a property management software. I have done a ton of research and I feel a little overwhelmed at the amount of options. I have 9 doors currently, but I am definitely looking to expand. 

I have found some great tools, but I am not sure if they are all Canadian friendly. I want tenants to be able to pay rent online, so maybe I just need a separate tool for rent payment and a desperate tool for PM.

Anyone have any input? So far I am interested in:

Buildium

123Landlord

Rentec Direct

TentantCloud (because its free)