Are you an Ontario landlord looking to evict your tenant? There are many reasons you may wish to evict a tenant. And, no matter your reason, you must always follow all the steps outlined in the Residential Tenancies Act (RTA). In this post, we will answer all your commonly asked questions and provide an overview to the eviction process in Ontario! What are legally justified reasons to evict a...
Usually, landlords require their tenants to pay a security deposit prior to signing a lease or a rental agreement. However, in Ontario, this is unlawful. Under Ontario landlord-tenant laws, landlords are prohibited from charging their tenants a security deposit. Instead, as an Ontario landlord, you may charge your tenants is a rent deposit. A rent deposit is a sum of money that a renter puts down to...
Are you planning on investing in an Ontario rental property? If so, it’s crucial that you understand Ontario’s rental laws. In Windsor, the Residential Tenancies Act of 2006 governs the landlord-tenant relationship. The landlord-tenant laws will help you understand both parties’ rights and responsibilities, important disclosures, eviction rules, rent rules and so much more. In this post, we are...
Myth: The value will vary depending on whether the property has been appraised for the buyer or the seller. Reality: The appraiser should not have any vested interest in the property and is obligated to provide an independent, objective and unbiased opinion of value regardless of the client. Myth: The value of a property can be determined by looking at internet sites and / or simply by looking at...
First off a short sale is a situation where thehome ownerowes more than market value on thier home. The term short sale has been seen more and more lately due to the decline inhome values over the past 1+ year. On top of that there are also several loans such as an ARM that has come time to adjust and thehome owneris unable to refinance their home loan. This causes them to fall behind in payments starting...
Buying a home can seem like a frightening prospect. Whether it's your first home or your fifth, so much is at stake: your savings, your credit rating, and your financial freedom. It is difficult to find the courage to sign on the dotted line even if you want that home very, very badly. How do you determine whether the purchase of a home makes sense? What is the easiest way to examine the whole...
Have you been thinking about buying a manufactured home, but you're not sure if it's right for you? Or worse -if they're worth it? Maybe I can help with your decision. Today's manufactured homes are much different than the mobile and manufactured homes built in the 60s, 70s and 80s. Construction materials are the same type and quality of traditional "stick-built" or "site-built" homes. The benefit is...
One of life's tough decisions. Shall we keep on renting or is it time to buy. There are a lot of cliches that people use which scare people into hasty decisions, e.g. renting is dead money. But is it? At the end of the day it's all about convenience and timing. There is no point rushing to buy a home just because of your grievances toward paying your landlord good money. The time might not be right. Ask...
Closing day marks the end of the loooong process to becoming a home owner. Once again, like with the initial contract, you'll feel like you're signing your life away. I now understand why there are so many fees associated with closing, to pay for all the paper and ink involved! To start, you should receive what is called a HUD-1 statement. You are legally supposed to get this document at least 24 hours...
It's both exciting and stressful negotiating areal estate purchase contract. Once it's signed by the sellers, buyers can relax a bit, but I can't. There are still more negotiations, document deliveries, inspections, title details and mortgage tasks to be accomplished to reach a successful closing and walk away with the keys to your newreal estate property. There are more than 50 specific due dates and...