All Forum Posts by: Rachel Oliver

We primarily own and operate Rent to Own income properties throughout Ontario, but we are governed by Landlord Tenant Act throughout the full RTO term. Even thought in a RTO tenants are 'invested' to pay on time, over the years we have had a handful of tenants in our RTO program who were habitually late with rent. We've learned that treating them like customers (rather than non-paying tenants) is a better approach. We follow the proper procedures consistently with N4's PLUS we reach out to speak with them (not when we're chasing for payment) and try to understand a bit better what the issue may be. Perhaps they are dealing with something major (e.g. a relative going through cancer). Just having you there to ask, listen and show concern goes a long way to creating a more balanced customer/owner relationship. Also, consider being flexible and offering to go to a bi-weekly payment, if money management is tough for them at this time. At the end of the day, this a relationship not just a transaction. To build your customer's loyalty to pay you on time and to respect the timelines doesn't come from just issuing N4's month to month. Hope this helps.

In a hot market where it is tough to cash flow on Buy-Rent-Holds, we've had great success with Rent to Own income properties. We have done RTO's all over Ontario, including Niagara/St. Catharines, Peterborough, St. Thomas, KW. Most properties cash flow over $500/month and the tenants look after repairs and maintenance. Rent to Own's are short-term (about 3 or 4 years) but it is a great strategy to inject passive cash flow and profit in a booming market. There's way less landlord stress too. If you are unfamiliar with RTO, work with reputable investors who know what they're doing to ensure the RTO is set up for win-win-win. Happy to help if you need.

Hey Stephen, there's another tenant-screening option out there that is worth checking out... https://www.honestrenter.com

They offer renter credit report checks for a really low price $3.99/month. This company is out of BC.

Also, as someone with one door, you may get some value from a couple of great events that are taking place in Toronto area this week. One is focused on helping beginner real estate investors become more confident. The other one is a large 2-day forum taking place March 5-6. Feel free to direct message me -- happy to share the links.

Hi Drazen, welcome to the community! There are a number of events in your area. I host meetups every month at Bayview Golf & Country Club (Leslie/Steeles). You can send me a direct message if you'd like to know about the March meetup. Also, there are 2 events in Toronto this week that are worth attending. One is focused on helping people invest in real estate with more confidence (Mach 3). The other one is a larger 2-day event March 5-6. Feel free to DM me and I can share the links.

Angelo and Sylvana, welcome to the wonderful community of real estate investors. I'm based in Toronto as well. My husband and I left the rat race several years ago to become full-time real estate investors. Having a mentor really helped. I think you're on the right track. Meetups are a great place to learn about creative financing options and connect with experienced investors. Gary's a great guy and runs a terrific meetup group, I host a monthly meetup as well. One of Canada's well-known real estate investors recently published a list of Canada's Best Real Estate Clubs. Feel free to PM me and I can send you the details.