All Forum Posts by: Richard Borthwick

I'm in Canada and looking at a company called Addy Invest, would appreciate anyone's experience with peer-to-peer real estate investing platforms.

The good, the bad and the ugly!

Barrie is also doing quite well, further assisted by the exodus from Toronto.

Happened to me once that my automated watering system for the garden, was staying on way longer than it was supposed to.  This resulted in a huge water bill by the time I figured it out.  Turns out this is quite common with the automatic on/off watering devices.  Something to monitor.

I've dealt with knob and tube a couple of times.  My understanding from my insurance broker is that if it's under a certain % of overall wiring, then insurance will ignore it.  Where fishing new wiring through the walls was too hard/costly, I've replaced it by using surface mount wiring from the breaker panel, which by using the round metal piping/conduit can look quite nice depending on the space (i.e. loft style). 

I'm in Ontario, Canada and shockingly we aren't allowed to collect security deposits, only last months rent.  So by the time the tenant moves out I have nothing to cover damages.  I've been looking at insurance products that cover if the tenant doesn't pay rent or causes damages, but am struggling with the cost.  Any experience share using such insurance products would be much appreciated!

Yes you can submit information to the credit bureaus.  Check out RentBureau and Landlord Credit Bureau.

I've used Landlord Credit Bureau and the result was the renter who owed me money paid after receiving communication from them.  I looked into the legality and David Overland (above) is spreading disinformation.  If I was a betting man, I'd bet that he is a tenant who got caught by a landlord using the platform and didn't like getting caught.

I have to share my recent experience with fellow landlords.  I recently signed up for a service called Landlord Credit Bureau because I have a renter who refused to pay rent.  This individual has a job and can easily afford their rent, but because the government froze evictions in my area they decided to use me as a line of credit.  So I reported them to this Landlord Credit Bureau and 9 days later the renter contacted me and paid all the rent they owed.  I know a lot of landlords have faced this situation, so have hope, there is help available.