Rental News

Private Landlords Provide Affordable Housing with NRH

Wed, 11 Feb 2009 10:19:22 -0700

“Geared to income” housing has been implemented in many different formats throughout areas across Ontario for many years now. 2001 Census reports show that 600,000 households (14% of all Ontario Households) have trouble accessing affordable housing and 125,000 were on the waiting list for subsidized housing.

The program generally operates by providing rental housing to tenants at a rate of 30% of their income. A family of 4 earning 1700/mo. would pay 510/mo. for their 3 bedroom apartment. A market rent for a comparable unit might be 875/mo. which is over 50% of the family income. There is an application process for subsidized housing as well a review for existing residents. Changes in income or the needs of the family require the adjustment of rent or accommodation at times.

Low-income housing can be provided by government sponsored programs or it can be delivered by private landlords. If a private rental property owner wishes...

Renters Can Stay in Foreclosed Properties

Wed, 11 Feb 2009 08:59:23 -0700

For those that are renting a home or apartment, the news that the property is in foreclosure can be incredibly disruptive. The mortgage crisis in the United States has seen many property owners default on mortgages and rental investments have been no different. I some cases, owner’s rented their home rather than selling in a down market. Depending on the circumstances, some of these rentals were unsustainable and the property fell into foreclosure. Rentals that are owned by investors have not been exempt from the mortgage breakdown. Residential and commercial rentals have been affected by the financial mess and even multi-unit buildings have been added to the lists of troubled properties.

The tenants in these properties are usually requited to vacate after being given notice by the lending institution. Tenants that are forced to move find themselves in a position where they may have leave their community, pull their children from schools and even travel further...

Landlords and Tenants Team Up to Protect Against Storm Damage

Mon, 09 Feb 2009 12:34:42 -0700

February has rolled in, the groundhog has had his say and Valentine’s Day is just around the corner. 2009 has been packed full of excitement so far, from politics to weather and everything in between. The upcoming week should be interesting and full of activity as the temperatures are expected to hit double digits in some areas and the “Family Day Long Weekend” is almost upon us. Warm weather and time off work may be appealing but property owners should be taking extra precautions in the days ahead in order to prevent damage from rising water levels, power outages and even ice damage from freezing rain,. The spring like conditions can be the cause of serious and expensive problems ranging from flooded basements to falling trees.

Tenants must protect themselves from property damage by ensuring that they have up to date insurance. The assumption that the landlord is responsible for insuring the property can be a costly mistake. Landlords must insure ...

New Tower for Pelham- Like it or not!

Tue, 13 Jan 2009 21:58:22 -0700

We weren’t sure what we were going to town hall for last night. A neighbor notified us that there was to be an information session about a proposed tower to be built nearby. It was last minute so we simply finished our supper and headed out. We assumed that the meeting would provide us with all of the necessary details. As it turned out, many of us left with more questions than we had going into the meeting.

The presentation was presented by a representative of Rogers Communications. The introduction informed us that the meeting was designed to act as a consultation process with the affected residents. It did not take long for the mood of the room to escalate with frustration. The residents that attended the session were generally opposed to the construction of a 65 meter tower being built on the commercial lands...

A Teens View on Renting Country Living vs. City Living!

Mon, 08 Dec 2008 22:40:20 -0700

We all know that as kids turn into teenagers the parents tell the kids to start packing because as soon as they hit the 18 mark they’re on their own. My question is what would they prefer to rent, country or city? Would they prefer the city because of convenience of being close to places like the mall or the skate park, or would the property virgins like the country more because of the space and farm land? So, country or city? For girls we all know that it would probably be the city. They’ll have a meltdown if they don’t get to the shoe sale in time to get that cute pair of high heels. For boys it might be the city too. Just because they’re not girls doesn’t mean they don’t have plans with they’re girls to go to the movies or something like that. Over all I think it’s still completely fair for all those teens to have their own opinions. So I ask you one last time, cou...

Choices for Single Parents- Letter From A Single Mom.

Mon, 08 Dec 2008 16:32:38 -0700

As a divorced mom of 3 for 12 years now, I have had an opportunity to experience the challenges that many other parents face. I now own my own home & business and I have learned allot. Some may think that I have done well for a single mom, but I know better. The time that my struggle to earn money took away from my children cannot be replaced. During critical years of their life, I was working and a nanny was in my place.

I suggested to my sister who is in the process of becoming a social worker my idea of single moms sharing a residence and partnering to develop a positive lifestyle for themselves and their children. She was shocked that her capitalist sister cared about affordable housing. It is probably the only thing that we have agreed upon in years.

The truth is, the economic well being of single parent families is not only a social issue. By investing in the development of single moms, we are ensuring the future workforce of our...

New Services Available for Vacation Property Rentals

Tue, 25 Nov 2008 20:03:00 -0700

RentalDoctor.com has announced new services offered for vacation property owners that are looking to rent out their holiday accommodations. Now vacation owners can take advantage of guest referrals as well as full rental services. Busy owners can save time when renting out their property by using RentalDoctor.com’s advertising, promotion and referral program.

The concept was developed after the site started directing inquiries to properties that could meet the specific needs of the guests. Using the property profile that is listed under vacation rentals, the site would supply guests with detailed information about the rental. It was a natural fit for guests to open up and discuss the private rental process with staff at R.D.com. As a result, those that may be renting a private cottage for the first time were able to plan their trip with confidence.

What type of landlord are you?

Wed, 08 Oct 2008 13:41:00 -0600

Are you a rookie, professional, hands-off or delinquent? The article posted by BT on brokertales.com identifies the different characteristics that he meets in the New York City rental market. Whether you are looking to rent in NYC or in Toronto, his tips will be useful not only for tenants but other landlords as well. BT identifies the strong differences from a realtor’s perspective on the quirks and benefits of each breed of landlord.

Why are these points of interest? It may seem obvious to some but if you are new to the game or trying to overcome consistent challenges, ideas like these can help to indentify problems and come up with solutions before too much damage is done. Rookie landlords are excited and scared all at once. They surely will benefit from the advice of a seasoned landlord or realtor. The Pro’s set a great example and su...

Rental Vacancies Spike in Calgary

Wed, 08 Oct 2008 05:14:14 -0600

The news of a spike in the available rental units in Calgary came in from the provincial Apartment Association. CHQR, a news & sports radio station in Calgary, reports that the jump is due to the fact that many tenants have purchased homes.

The rate which was .5% only 2 years ago is now up to 4%. The president of the Apartment Association, Gerry Baxter, told CHQR that rental rates are not expected to drop as a result of the new availabilities. The expenses realized by landlords have not dropped therefore the amount that they must collect in rent will likely remain the same.

The economic growth in Calgary over the past decade may reflect the new numbers. As workers migrate to the province in order to fill job positions, they require immediate housing. Rental condos have filled the need in th...

Drunk Driving- people just don’t get it!

Tue, 07 Oct 2008 09:36:49 -0600

I was diving home from the grocery store. My tiny Mini Cooper was filled to the brim with food for the upcoming Thanksgiving weekend. The time of year is very special to me and the members of my family. October 7th is the anniversary of the first day we stayed at our cottage near Parry Sound. We are truly grateful for the exquisite privilege to have the property and enjoy sharing the place with friends and family whenever possible. There is one person however, will never be able to stay with us. My brother, who one year to the day earlier was killed in a tragic accident on a highway near Hamilton, loved the area and would have been thrilled to join us on what would have been his 30th year. Oct 7th not only identifies another year of cottage life but also another year without our little brother.

As I approached the 4-way stop sign only a few hundred yards before my driveway, I could see the flashing lights of emergency vehicles scattered around the intersection. ...