An important report on the bedbug problem in Toronto.
http://www.ryersonian.ca/tv/9354/
The OLA comments at 4:20
Posts Tagged ‘investment properties’
Must See Landlord TV: RyersonianTV News OLA Interview
Monday, September 27th, 2010A Cautionary Tale For Landlords in Ontario
Sunday, August 15th, 2010The devastation in this video should have been avoided. The tenants responsible for this destruction have done this before. Too many times. Their victims: small, residential landlords who were vulnerable, unsuspecting and could ill afford what would happen to their investment properties.
The victims: Tyler and Lisa Sage, Amatal Wadood, Gary and Nancy Woodley, Judin and Anne Xavier, Lois Debeaucamp. There are more.
The story is the same for each of them. The tenants pose as a responsible and financially responsible couple, seeking a nice home in a lovely neighbourhood. They express a sincere desire to raise their little girl in a safe area, and are planning to purchase their own home one day soon. Landlords love their story, they appear to be excellent prospective tenants.
Soon after they move in, the games begin. Bounced cheques, emails full of excuses and lies. The moment the landlords begin to stand up to them, the truth is realized. They lied from the beginning. They know the system. They threaten, and hold property hostage while the system governing evictions grinds along. All the while, the conditions inside and outside the homes deteriorates. When it’s over, the rent arrears are significant, the damage is unbelievable. Instead of being ashamed or remorseful, however, they file applications against their landlords for harassment, and file Claims in the higher courts for the heaps of belongings they leave behind.
These tenants do not face any exposure or consequence before the Landlord and Tenant Board, and they are empowered to do it over and over and over again. It’s time to ask WHY.
Landlords Burned by Internet Scammers
Monday, July 19th, 2010Recently a Newfoundland landlord found himself in a controversy regarding a rental ad he posted on Kijiji.ca.
After advertising his condo rental, the landlord was contacted by a potential tenant who referred to an ad for the same 
property on another Internet classified site, Craigslist.
Suspicious, the landlord researched Craigslist and indeed found his property advertised by an impostor.
The fake landlord was asking half the rent, and allowing both smoking and pets on the property, which the actual landlord had restricted.
The local police found there was nothing they could do to stop the fraud. Craigslist also failed to pull the ad or warn potential victims of the fraud, so the landlord took matters into his own hands. He contacted the fraudsters directly, and posed as a tenant to gain more information.
He was told to send a deposit, and upon receipt of the funds, the “landlord” would ship the keys. He was invited to view the apartment on his own. Eventually, the scammers became suspicious of the real landlord’s probing inquiry, and pulled the ad.
In a related incident, a RCMP officer went undercover to bust an Internet rental scam in Kelowna, B.C. In this case, a teenager and her 21-year old friend posted an ad for a rental on Castanet. The 17-year old posed as the landlord’s daughter. A victim deposited some money in the “landlord’s” bank account without becoming suspicious of the scam. The victim believed that the property could not be shown at that time because it was currently occupied. A few days later, another victim posted a warning on the Internet regarding that ad. That prompted a call to the police.
The fraudsters made the mistake of continuing to communicate with their victim and demanded the rest of the agreed-upon payment. But instead of meeting with the victim, the cons met an undercover officer. Both were arrested and charged with fraud.
In the U.S., landlords have been warned by the F.B.I. of a rash on similar Internet scams. Perhaps the most notorious was a couple who moved across country to an Arizona home offered for rent in Craigslist. The family of nine could not believe the luck of finding a large house with a swimming pool for such low rent and immediately sent a deposit to hold the property. In this case, the tenants were given access, and actually started moving into the property before the real owner returned from vacation to find the family in her home.
In an act of great kindness, the owner allowed the victimized tenants to remain for some time until they could find another place to live.
While some of these frauds may seen obvious to landlords, who understand the normal rental process, they are not so obvious to renters. It is estimated that scammers often net thousands of dollars from each of these fake ads.
Some landlords are becoming skeptical of posting Internet ads, and relying instead upon rental signs, or newspaper classifieds. Others post warning within their own ads, for instance, advising that all applicants must meet with the landlord personally, and the approved applicant will undergo a credit check before they will be asked to pay a deposit.
This post is provided by Tenant Verification Services, Inc., helping landlords reduce the risks of renting with fraud prevention tools that include Tenant Screening, Tenant Background Checks, (U.S. and Canada), as well as Criminal Background Checks, and Eviction Reports (U.S. only).
Looking for the Best Mortgage Out there?
Monday, February 22nd, 2010Not all mortgage professionals are created equal. This is especially true if you are invested in, or want to invest in, rental properties.
The Ontario Landlord Association recommends you connect with Mr. Kevin Boucher of INVIS. He has years of successful experience helping landlords across the country. Here’s Kevin:
“Invis is Canada’s largest mortgage brokerage firm. With offices from coast to coast, our strength and experience allows us greater leverage in negotiating the best products and rates with over 70 lenders across the country.
I work hard to provide maximum flexibility in financing options and deliver the most competitive and innovative products and services to suit your individual needs.”
Contact Kevin for all your mortgage needs. He understands landlords!
You’ll be amazed at his professionalism and level of knowledge.
