4 Steps to Consider When Buying a Home
Buying a home is a significant and costly decision in most people’s lives. Before purchasing a new home, it is crucial to consider various factors. Is it the appropriate time to make this investment?
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Author: Ava Cui
What is a Status Certificate? Why is it important for a condo purchase?
When it comes to buying a condo, understanding the importance of a Status Certificate is essential. Acting as a comprehensive snapshot of the entire condo’s health, the Status Certificate contains vital documents such as the condo’s declaration, by-laws, and rules, the current fiscal year budget, audited financial statements, reserve fund study, common expenses, outstanding arrears, ongoing litigation, and special assessments. This information is crucial for assessing both the condo building and the specific unit you’re interested in. As a legally binding document issued by the condo corporation, the Status Certificate ensures that all information provided is current and accurate. Make an informed decision by obtaining and reviewing the Status Certificate before making your condo purchase.
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Responsibilities and Rights of Tenants in Ontario
Are you a tenant in Ontario looking to have a wonderful living and rental experience? It’s important to know your rights and responsibilities according to the Residential Tenancies Act (RTA). As a good tenant, you should keep your rental property clean and fix any damages caused willfully or negligently. Remember, you’re not allowed to change the locking system without the landlord’s consent and should avoid harassing or threatening your landlord. Your rights include the right to quiet enjoyment of a properly maintained rental property and not to be evicted in bad faith. If facing eviction, you have the right to request a hearing from the Landlord and Tenant Board. Additionally, landlords can only evict you under specific circumstances, providing compensation or alternative housing. Make sure to use the Ontario Standard Lease and be aware of the guidelines for rent increases. By understanding your rights and responsibilities, you can create a positive and harmonious rental experience.
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Duties and Rights of Landlords in Ontario
Being a landlord is getting more challenging than ever. As a condo investor/landlord, what are the lawful rights and duties in Ontario? How to deal with tenants that would abide Ontario’s Residential Tenancy Acts while protecting your own interest?
Read MoreCondo 101 – Condo Governance
This is about who is the authority of the condo and how the condo is managed by. How the authority is established and who make important decisions of the condo like rules, regulations and board member appointments etc.
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