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Waterloo Landlords: Become a Member And Do A Credit Check For $10

June 11th, 2016 · Credit checks, Latest News, Ontario Landlords Association, Waterloo Landlords

Toronto Star Ontario Landlords Association Become a Member And Do A Credit Check For $10

Toronto Star– Join the Ontario Landlords Association where after becoming a member, you can do a credit check for as low as $10, and use their supporting materials to assist you

There has been a lot of news that is important for Waterloo landlords over the past couple of months.

It began with a Toronto Story investigation informing readers Nina Willis, the “Tenant From Hell”, was in the process of not paying rent and using the Landlord and Tenant Board to delay being evicted yet again.

This tenant has done this numerous times. She likes to target small landlords who believe the ‘story’ she tells to get small landlords to rent to her.

The landlords have the Ontario Landlords Association have written about this Tenant from Hell before. Once she rents to the tenants she stops paying rent and brings up maintenance issues to delay evictions for months on end!

Tenant Credit Checks

One of the mistakes each landlord made is when they interviewed this tenant. The small landlords didn’t run credit checks on her.

Like we wrote earlier, the tenant had a tried and tested method of telling a story and convincing small landlords to hand over the keys to her.

What was so convincing about her story?

She has an Oscar award winning act that ‘made sense’ to small landlords looking for a good tenant to rent to. Unfortunately for the landlords her story was filled with false information and lies.

You Also Need To Be Careful Renting To Students

A lot of landlords in our area rent to students.

It’s important to run credit checks on the co-signers for student rental properties.

There is a story in the Peterborough Examiner of a Peterborough landlord who found his student tenants caused over $35,000 in damages to his rental property.

It’s a must-read story of what can happen if you don’t screen students (and their parents) carefully.

Why Should Landlords Run Credit Checks On Your Tenants?

Running credit checks on your tenants will show you if they pay their bills on time.

A check will also give you current and past addresses and show you if the tenants owe other landlords money.

A tenant credit check would have saved landlords from losing thousands of dollars renting to the Tenant from Hell.

Landlords across Canada are waking up to the importance of running credit checks on tenants to protect yourself.

B.C. landlords are facing their own Tenants From Hell who have ripped over landlords (none of them did a credit check).

Even Alberta landlords are running credit checks now to make sure they rent to good tenants who pay rent and respect their rental property. Some cities in Alberta have very low vacancy rates and when you post an ad you get a lot of replies.

Still, Edmonton landlords are making sure they now include tenant credit checks as part of their process to choose good tenants.

How Can Landlords Run Tenant Credit Checks on Tenants? 

Take a look at what the Toronto Star wrote about how Ontario landlords can avoid bad tenants:

The Toronto Star recommends you join a group like the Ontario Landlords Association where after becoming a member, you can do a credit check for as low as $10, and use their supporting materials to assist you. 

That’s a tremendous recommendation!

Join the Ontario Landlords Association for only a one-time set up fee and get access premium credit checks, rental kits, networking and more.

Protect your Rental Business and Rent Only To Good Tenants!

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Wateroo landords, Kitchener landords, Cambridge landlords

April 13th, 2014 · Uncategorized

Some great news for landlords and investors in the Waterloo region tonight.

According to the Real Estate Investment Network, our area is the best place to invest in rental properties!

Last year Hamilton landlords took first place and held the crown.

They dropped to #2 in 2014 and in their place Kitchener-Waterloo took #1.

This is awesome news for landlords in our region!

Investing in Waterloo

Most investors value investing in Waterloo because we have some of the best university in the world.

This includes the University of Waterloo.

This is world famous school that attracts students from around the world.

The UoW co-op program is a great way for students to learn and get important job experience.

These students will study and also gain important job skills…and they will continue to rent from you while they prepare for their exciting and high salaried careers!

Becoming a Waterloo Landlords Renting To Students

With world famous universities such as the University of Waterloo an Sir Wilfrid Laurier University our city has a lot of great student tenants out there.

We also have amazing college such as

Students are a great market for Ontario landlords

Why?

Here are only a few reasons why it’s a great idea to be a student landlord.

1. Guaranteed Money To Pay Rent

Ontario students have a guaranteed source of income to pay the rent (OSAP: the Ontario Student Loans Programme)

2. Few students are ‘professional tenants’

Students are too busy studying to manipulate the Ontario Landlord and Tenant Board

3. Long term renters

Students will continue to rent from you for years if they are satisfied

Great Opportunities for Investors

Very few cities have the same opportunities we have in the Kitchener-Waterloo-Cambridge area.

How Can You Learn to be a Successful Student Landlord?

The Ontario Landlords Association has an amazing interview with the Manager of Student Rentals for the University of Toronto.

It’s really must-see reading for potential student landlords.

Invest in Waterloo, Kitchener, Cambridge

Smart investors are investing in our area.

Research carefully and invest in a growing area.

You can WIN with investments in Waterloo!

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Waterloo Landlords Rent Increase 2014

January 7th, 2014 · Rent Increase Guideline, Waterloo Landlords

 Waterloo landlords rent increase 2014

How Much Can Waterloo Landlords Raise the Rent in 2014?

We are now one week into the new year and Waterloo landlords are back to focusing on our investment properties and looking forward to a great 2014.

Many landlords read a recent report in the Toronto Sun about the Ontario Rent Increase Guideline.

We’ve received a lot of questions including a bunch asking us to confirm much landlords can raise the rent in 2014.

In this post we’ll look at that and other things important for landlords in the coming months.

Opportunities and Challenges for Waterloo Landlords in 2014

Things look positive in the new year.

However, there are still a lot of challenges facing landlords in our city.

These are the types of challenges you won’t hear from the busy and noisy Realtors in our city.

They like to focus on terms to motivate sales.

Terms like “cash-flow” and “rent to students.”

While these maybe opportunities you rarely hear them talk about things that maybe challenging for landlords (and for landlords all over Ontario).

You don’t hear a lot about landlord licensing.

Or the problems with RIM and other tech industries.

Let’s face it.

If you are not from the area you need to reply on people for information about the city and the Waterloo rental market.

You rely on your Realtor.

Unfortunately few will tell you about landlords challenges such as a Waterloo homeowner charged with illegal accessory apartment.

Waterloo Landlords Rent Increase Guideline 2014

A lot of landlords have emailed in asking how much they can raise the rent this year.

The answer is if your rental property was built after 1991 you can raise the rent 0.8% in 2014.

That’s right.

0.8%.

It’s the second lowest in the history of Ontario

Does that cover your raising costs?

Does that cover what you need to spend to maintain your unit as the Residential Tenancy Act and Waterloo Licensing demands you to do?

Most landlords will say no.

In fact, landlords across Ontario are communicating their frustration with such a low increase.

Take a look at what Ottawa landlords are saying.

And some Barrie landlords are even planning on leaving the rental business because they simply can’t keep up with their growing costs along with tenants owing rent and harming properties and not cleaning up their messes when they move.

Waterloo Landlords 2014

In the coming months we will continue to provide landlords with more news.

We wish you the best.

By seeing the challenges we face (such as the low rent increase for 2014), we can prepare for greater success.

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Waterloo Landlords: Landlord Licensing and the City of Waterloo

December 16th, 2013 · City of Waterloo, Waterloo Landlords: Landlord Licensing

 Waterloo landlords and landlord licensing

It’s been a complicated year for landlords in our city.

There are tremendous opportunities for Waterloo landlords, especially in the student landlord sector.

There have also been challenges that look to continue on in 2013.

For example we’ve seen some major issues with the local economy, especially with RIM.

And Ontario landlords can only raise the rent 0.8% in 2014.

(And the no matter how much are costs go up the Rent Increase Guideline is capped at 2.5%).

Waterloo Vacancy Rate Is Higher

According to the CMHC (Canada Mortgage and Hosing Corp.) the vacancy rate has increased in Waterloo in 2013.

In October 2013 the rental apartment vacancy rate in Waterloo was 2.9%.

This is up from 2.6% in October 2012.

The good news is the average rent for a two bedroom rental in Waterloo increased from $908/month in 2012 to $952 in 2013.

Landlord Licensing

Waterloo landlords have also had to continue with the Waterloo landlord licensing scheme in 2013.

Landlord licensing is still controversial.

The City of Hamilton wanted to create a landlord licensing scheme this year but Hamilton landlords united and prevented the City’s destructive plan from happening.

And Oshawa landlords and Scarborough landlords are fighting current and proposed legislation to license landlords.

The City of Waterloo Wants Your Feedback

Waterloo wants landlords opinions and have sent out an email to stake-holders in our city.

According to the email, the City of Waterloo wants to hear your thoughts about rental housing in Waterloo.

The claim the residential rental housing licensing bylaw we have limits the impact of large rentals in residential neighbourhoods and makes sure tenants live in safe and well maintained units.

Participate and You Might Win a Grocery Card

Yes, there are even prizes involved to attempt to get landlords to participate.

The City says everyone who completes this survey will have a chance to win 1 of 3 grocery gift cards valued at $150.

If you participate you will have to write your name and address and telephone number.

They say all personal information collected in this survey will be kept private and confidential. 

Except they also say Information collected may be subject to a Freedom of Information request pursuant to the Municipal Freedom of Information and Protection of Privacy Act. 

And the ‘contest’ closes January 31, 2014 at 4 p.m.

Waterloo Landlords And Our Rights

It’s difficult for Waterloo landlords when real estate agents looking to sell investors Waterloo student rental properties act as “Waterloo landlord advocates”.

It’s time Waterloo landlords and investors joined together to create a strong landlord voice to our local government (no nasty Realtors allowed or some nasty noisy property managers out to catch your money!)

This is something we will do in 2014 as we demand changes (and an end) to the Waterloo landlord licensing scheme and create an economic environment in our city that is attractive to investors all over the world.



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Waterloo Student Rental Housing: Laurier University and the University of Waterloo

October 27th, 2013 · Student Rentals Waterloo

Waterloo student housing University of Waterloo

We issue another warm welcome to Waterloo landlords, Waterloo rental housing investors, and those thinking of investing in rental property in our city!

Our goals it to providing networking, news, tips and advice for Waterloo landlords.

Investing In Waterloo Student Housing

There are lots of real estate agents trying to ‘sell you’ on buying property in Waterloo.

They are especially aggressive in trying to get you to buy Waterloo student housing.

We’ve heard lots of stories about landlords and investors who are not happy with the aggressive sales and questionable answers to their questions.

On the other hand, there have been lots of media reports about the challenges facing Blackberry.

Some of these reports nearly say our city is, um, ‘doomed.’

So Who Do You Believe?

Take both the real estate agent ‘sellers’ and the media ‘doom and gloomers’ with a grain of salt.

Waterloo is a sound place to invest in rental properties if you do careful research.

Strong, World Class Universities

A strong reason to believe in Waterloo is our universities.

Wilfrid Laurier University continues to be a leading undergraduate university in Ontario and attracts lots of good tenants from across Ontario to study there.

The University of Waterloo is internationally famous.

It’s known as a leading university for technology.

Chinese Investing in Waterloo Student Rental Housing

A recent news report in therecord.com was about a lot of new investment in Waterloo student housing from Mainland Chine Investors.

According to the economic director of economic development of the city, Chinese investors are attracted to Waterloo because of the student population.

Justin McFaddent explained a lot of Chinese investors are looking for international investment opportunities and the strong reputations of Wilfrid Laurier and the University of Waterloo have led to a lot of interest amongst investors.

The City of Waterloo, including Mayor Brenda Halloran, has focused on building strong ties with China in recent years, particularly through trade missions to the country.

Halloran’s blog on the popular Chinese social networking site Sina Weibo has thousands of followers.

In 2009, Waterloo signed a friendship agreement with the municipal government of Chongqing, a city of 33 million.

Investing in Waterloo

The interest in Chinese investors is a strong reason to believe in investing in Waterloo.

To Discuss This And Other Landlord and Investor Topics go to the Ontario Landlords Association forum.

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Waterloo Landlords

September 23rd, 2013 · Waterloo Landlords

 Waterloo landlords

Welcome to our site Waterloo Landlords!

Our goal is to provide help, tips, and advice for Waterloo, Ontario landlords.

Unlike some other groups out there, we are landlords and not real estate agents looking to hype and sell properties to you.

Things are looking good for our city, especially the rental property market.

We hope we can help all the international investors coming to our city.

Let’s Get Started

How many times have you asked:

-I’m a landlord in Waterloo and want to network with other landlords in the area

-I’m thinking of investing in a rental property in Waterloo, Ontario and want to learn more about the area and the industry

-I own a rental property in Waterloo and am looking for some advice about a problem with a tenant

-I want to know only about rentals in Waterloo, but learn about how things work in Ontario. I want to get involved!

This is what this site is all about. Helping landlords get answers to their questions.

The answers come from fellow landlords and investors, not real estate agents looking to get a commission.

Networking

It’s time landlords from across Ontario begin to network and discuss the issues we face.

For example, do you think the system is fair for residential landlords?

Do you want to demand some changes to the Residential Tenancies Act and the Landlord and Tenant Board to make things fairer for landlords?

A great place to begin is signing up for the free Ontario Landlords Forum.

Being a Landlord in Waterloo, Ontario

Experienced landlords know being a landlord or property investor in Waterloo means both opportunities and challenges.

In the next couple of months we will discuss a variety of topics.

These include:

1. How to Screen Tenants to Weed Out Bad Tenants and Find Good Ones

2. Student Rentals

3. Dealing with Pets

4. Where to Find Great Properties in Waterloo

5. How To Deal With Bad Tenants

6. Dealing with the Government and Bylaw Officers and Landlord Licensing

These are important issues for landlords all over Ontario

Investing in Waterloo, Ontario

For those looking at Waterloo as a place for potential investment here is a brief introduction to the city.

Waterloo is a city in Southern Ontario, Canada. It is the smallest of the three cities in the Regional Municipality of Waterloo, and is adjacent to the city of Kitchener.

Kitchener and Waterloo are often jointly referred to as “Kitchener-Waterloo” (K-W), or “the Twin Cities“, although they have separate city governments. There have been several attempts to amalgamate the two cities (sometimes with the city of Cambridge as well), but none have been successful. At the time of the 2011 census, Waterloo had a population of 98,780.

Waterloo is home to Wilfrid Laurier University and the world famous University of Waterloo.

The City of Waterloo has so much to offer it residents, with amenities and services for people of all ages and lifestyles.

The Waterloo Landlord Site Has Started. So Let’s Start Helping Waterloo Landlords Succeed!

 

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