Do you need motivation to buy and own your home? Well, read this.
I read an article recently about “renovictions” courtesy of Rentals.ca. (This is geared more for Ontario and BC residents.) This is a new word that you’ll be hearing more often, I’m sure.
Here’s my warning and words of advice… Attention renters: If you’re currently renting a condo or house with below market rents, you’ll want to read this.
And I’ll skip to the bottom line for a moment: If you’re renting, you should give serious consideration to buying and owning so that you have control over your place of residence.
Continue reading “‘Renovictions’ should motivate you to BUY, not rent!”
Did you know that Alberta has no residential rent control? And British Columbia landlords can increase rents by the rate of inflation PLUS 2%? In Ontario, the Landlord and Tenant Board sets annual rent increases. For 2014, the rent increase was a mere 0.8% and for 2015 the rents can only be increased by 1.6%. Anyone that’s bought a rental property has probably been following these rules for years. An increase of 2.2% over a 2 year period sounds great if you are a tenant, but somewhat unfair if you are landlord.
Now, what if I told you there’s a good chance your PROPERTY IS EXEMPT FROM ONTARIO’S RENT CONTROL RULES? Meaning you can increase the rents as high as you like. According to the Ontario Landlords Association, more and more properties are becoming exempt from Ontario’s rent control rules.
Continue reading “Attn: Ontario landlords… Rent control rules may not apply!”