All Forum Posts by: Richard C.

70 square feet, no side less than 7 feet.

Bruce,

I recall fa couple of your prior threads. There was the one about racially profiling tenants. And there was one where your tenant threatened to take you to small claims. Then, as now, you held deposit money for wear and tear items, for things not the tenants fault, and for very high labor rates to fix issues.

You really need to get over the idea that you are entitled to always receive the property back in exactly the condition it was in when you rented it. That just isn't so. Someday you will have a tenant who is savvy about these things, and you will learn a very, very expensive lesson. 

What value do you add? He can buy off the MLS without you.

Have them trimmed, or they are entirely within their rights to hack them back to the property line.  Which will look like crap.

Residential Tenancies Act

14. A provision in a tenancy agreement prohibiting the presence of animals in or about the residential complex is void. 2006, c. 17, s. 14.

By asking, your tenant was just being polite.  You're a landlord in Ontario, get used to the idea of having pets.

 But then you would have to invest $400 and several dozen hours in your new career!

Put another way, you are getting less than 5% on your invested $21,500.  While doing work.  And taking risk.

Adding to that a bit, the numbers are way, way too tight.  

What happens when a majority of your fellow owners decide a new sauna and hot tub would be nice, and your HOA dues go up another $50? And I am not seeing where you are assigning any value to your time, in doing the management tasks. Insurance and taxes may well go up faster than rents can be adjusted to cover them. What is the flooring? Is any of it wall-to-wall? If you get five years out of that, it is a miracle.

I could go on.  But the numbers are way too tight.

To me that deal is a dog.  Others may feel otherwise.

Not that simple. Those telling you that it is are engaged in wishful thinking.

Really the answer the should be giving is, "You'll probably get away with it."  Because you will probably get away with it.  But your contract with a $10 earnest money deposit, backed by zero intent and willingness to close, does not create a real equitable interest, it creates the form of one so that you can try to evade the licensing laws.  And some states take a harder line on that than others.