All Forum Posts by: Account Closed

@April Adams So you're saying that sometimes its better to take a late paying tenant over no rent at all? I can see the pros and cons of the situation for sure... thanks for the feedback and sorry to hear about the situation

@Debra Grumbach Wow i love it, who would pay late when they can save money just for doing something they otherwise need to do anyway, great idea!

@Roy N. Would love your insight on this ! 

@Roy N. Interesting point, is there any way to enforce penalties in Quebec that you know of ? 

@Dany Mcintosh Landlords definitely need to be understanding in certain circumstances such as yours, try to come to an agreement with your landlord to move the payment date to the 5th and see how he responds!

@Jeremy Hua That sounds like great laws you guys have down in Ohio, sadly in Canada theres no such thing as late fees :(

Hi BP! One of my units is occupied by two roommates, who both share the rent payment. Now one of the roommates called me the other day stating that the living situation is not working and he would like to leave, I was a little confused as a new lease had just been signed 2 months ago. The tenant even went so far as to find another apartment to live in and the landlord of that apartment actually called me for a reference on my tenant... to his surprise he didn't know the tenant had an active lease with me ( how surprising lol).  Should I let the one tenant go and re qualify the remaining tenant on his own ? (ie credit check the remaining tenant to see if he can sustain the cost of rent alone). All replies are greatly appreciated BP :)

PS: My property is in Montreal, Quebec Canada... tenant laws are great, landlord laws not so much

Hey BP, coming across a little problem while trying to obtain access to some financing, A family member of mine is requesting a Home equity line of credit under their primary residence which is completely free and clear, I will be supporting the request with my income, the financial institution is requesting to have myself registered on the title of the property as part of the file, my question is; would adding me onto the primary residence for the line of credit trigger a capital gains for me as well as a welcome tax? If so, how can I be added onto the title of a property while also minimizing any tax or capital gains...
Any help with this question that would be greatly appreciated. Thanks in advance guys!

 Thanks Roy, always look forward to your insight ! So based on what you said, I'm guessing your suggesting is to lean towards commercial property...

@Dimitriy Fomichenko thanks for the referral!