All Forum Posts by: Natalie Rose

@Thomas S. do you not agree that a tenant who has been there for 7+ years with no issues should be given some respect? I’m not saying let them be entitled and get whatever they want. I understand completely having to raise rent based on your financial needs (in the case of costs having gone up and previous owner not having raised them sooner), but based on what you said “this is why inheriting renters rarely works out” kind of seems like a my way or highway attitude which I guess is fine but landlord/tenant relationship goes both ways. We have rarely called our landlord for anything because she respects us and therefore we respect her. We have learned a lot renting that we will use as landlords. Yes you own the house it’s yours but you ‘need’ tenants and it may be a headache to come in so abrupt with “sign a new lease, pay more rent, no negotiating” attitude. 

Maybe ask them for their opinion or provide them options and see what they would prefer. 

And I should add, you want the renters on your good side. Having a good relationship will save you money - ie. when they respect you, they won’t be calling for you to fix something every week or looking for ways to make you work harder than you have to. 

As a current renter I would have been extremely bitter if my new landlord bought the place and expected me to a) pay an increased rent rate and b) sign a lease when I’ve alrwady done my time in a lease and am now month to month. It would be a “who do you think you are? Kind of situation. Our new landlord DID increase the rent but they offered landscaping as a reason. It was at least somewhat fair. It’s pretty crappy to buy a place with loyal long term renters and put them in a position where they feel they have to leave. 

Just my opinion from a renters side, we are moving into our first home in 2 weeks so it’s all very fresh for me!

Hi there

I just bought my first house in Edmonton for 170,000. We renovated and are looking to make it worth around 250,000. The plan is to refinance and get a HELOC for 80,000, with which we would use some of that as a down payment on another property similarly priced that we can reno and rent also. Does that make sense so far as an option? Then once I get the HELOC, how do I get a second mortgage?

Thx in advance.