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All Forum Posts by: Tobi Ayanleke

Tobi Ayanleke has started 3 posts and replied 13 times.

Post: Tenant Payment Issues

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

Thank you all for the advise and input. I issued the tenant a letter on Sunday and the very next day the rent was paid.

I am definitely not renewing the lease agreement once it ends

Post: Tenant Payment Issues

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1
Quote from @Chris Dittrick:

What does your tenancy agreement specify regarding evictions due to non-payment? I would say something to the effect of "please note that the tenancy agreement requires payment in full, including late payment fees, by the x day of each month, otherwise eviction proceedings will be initiated." With that said I would call a lawyer for advisement first, and have them draft the letter. 

Thanks, Chris. So I wont be able to give an eviction notice without a letter to demand payment?

Post: Tenant Payment Issues

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1
Quote from @Galen Ikonomov:

Send her a letter that she needs to pay all the money owed + the daily late payments within a very short period of time or you are starting an eviction process. Remind her that with an eviction on her profile, it will be incredibly hard to find a place to stay unless it is a slumlord. In case she pays you, I would ask her to leave without any penalties and look for a new WELL SCREENED tenant. 


 Thanks Galen! 

I had communicated with her by text that I was giving her till today. Do you think I should still send her a letter to pay before sending an eviction letter?

Post: Tenant Payment Issues

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

Hi guys,

So I have a tenant that has been renting for only 4 months now, She is a single mom with 2 teenagers and 1 dog in the hours.

For the 1st 2 months, she paid her rent on the 1st of both months (Ontime), in the 3rd month she was delayed and paid on the 3rd (2 days late). I didn't say a word about it and overlooked it because it went into the long weekend.

Now this month she was meant to pay on the 1st of Sept and then she wrote me a text on the 31st of August (Wednesday) that she won't be able to pay the rent till the following Tuesday the 6th of Sept due to changing employer and that they were delayed with her salary. I accepted and said no problem pay on the 6th of Sept. On the 6th when I waited all day with no payment and no communication from her, I wrote her at about 8 pm asking and she replied and said oh they didn't pay her salary yet and that she would call them the next day and ask. 7th of Sept (Wednesday) I waited for her till the end of the day again and nothing so I wrote her that I would appreciate the rent by this Friday at the latest (9th of Sept).

What do I do if she doesn't pay today? She is also owing $10 per day in late payment.

My plan is to send her an eviction letter first thing tomorrow morning.

I feel like it's only 4 months and she is not paying rent and the story just doesn't make any sense. When filling out the rental application she said she had multiple sources of income from work and child support.

Her rental contract expires next year may and I am definitely not going to renew it.

I would appreciate any advises here.

Post: Canada, Alberta - finding off market deals

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

Count me in as well. Thanks!

Post: Calgary Investor

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

Does anyone know a well priced investor friendly property inspector in Calgary?

Post: Renter Screening in Alberta, Canada

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

@Ken Didy thanks for the reply.

I agree with you the vacancy rate in Calgary is pretty high at the moment . My previous tenants relocated out of the province and I have had the property vacant for over a month now. I agree with losing another month and going with a good tenant vs the 2nd choice

Thanks!

Post: Renter Screening in Alberta, Canada

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

I got several people interesting in renting out my townhouse here in Calgary. 2 potential candidates so far. The first one is trying to negotiate 1 month free rent while the 2nd one wants to sign already with no demands.

The second one came in for viewing and the only thing is was curious about was the Electrical Board(Calculating the amps to make sure it was not 60 Amps and that it is 100Amps). That seemed odd to me since most renters would be curious about other things like kitchen , furnace e.t.c. 

He also sent his rental application with no references what so ever saying he owns his company and providing few friends as references when I told him he didnt provide any references.

What do you guys think?

Post: Any recommendations on growing rental property portfolio yearly

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1

@Yu Liu That’s really good to know. I will connect with you since my investment area is Canada. Thanks !

Post: Any recommendations on growing rental property portfolio yearly

Tobi AyanlekePosted
  • Rental Property Investor
  • Calgary
  • Posts 13
  • Votes 1
Originally posted by @Drewy Osazuwa:

where are you investing? you can use FHA loan to get up too 10 properties, after that you can use companies like limaone, Lendingone e.t.c for financing, they are typically not the cheapest rate but unlike traditional lenders they look at much easier to work with

Thanks @Drewy.

I am investing in Canada at the moment and I don't think we have an equivalent to the FHA loan
Also, any down payment here in Canada less than 20% attracts Private mortgage insurance which puts the payment high