All Forum Posts by: Steve R.

it is your property, these are the terms, this is your lease......

I would not even blink to say no about changing my lease for someone.

And if a tenant wants this wording on the contract, there is something fishy already going on.

I would already consider not renting to this tenant even if there are no changes to your contract.

talk to this GC again, and ask him if it would work for him if he did this project and you would be a helper and perhaps he would give you some discount for it.

you will save a couple of dollars, but most importantly you will have some first hand experience doing it, will see what tools they use and how, where they take them.

that is if you are considering of doing such projects in the future.

I have done so with kitchen, laminate floors, soundproofing ceilings and some other projects.

Now I can do it myself, perhaps not as good as GC, but not afraid of it, and can easily calculate cost of labour and materials for any such project

good luck

I put insulation inside, then cut a piece of plywood for make a perfect fit at the front, paint it black, screw it at the front, caulk around it.

in my rentals that have fireplaces, I seal them completely beside stating in the lease that they are off limits

what etiquette?

you are evicting a tenant who is or trying to screw you over and you are talking about etiquette? :))

I include utilities in rent, but have a cap writer in the contract that if utilities go above that, they pay for whatever above that pre-set number, so far so good

I would say 500 per month is not much, but would consider that as a bonus and your safety gap if things go south.  But you get into a nice property that has been maintained with most likely low operational costs in the near future, paying out the principal, and hoping for future increases in rents.

After all, seller financing is the only option for you right now and I do not see a lot of those lying around.

from what I have heard, rents there have not fallen as they have in Calgary

what would happen to your cash flow calculations if rents dropped 30%

I always calculate what is the worst situation and if I can sit it out till it recovers

very limited,

I have been there few times, but know a couple of landlords from that area

Hi Evelina, could I ask you how you came across this deal?

thanks