Novus Property Management

Effective today!!! Feel free to contact with any questions

The Toronto rental market is at an all time high. Are you getting the most out of your investment? Give Novus a call and let us ensure you are. .

Reminder: All Landlords
Effective April 30th ALL Residential Leases must be done on a standard lease form. If you have any questions please feel free to contact us.

Condo Rents up over 10% in Q1. Avg Toronto condo now a little over $2200.00 per month.

Condo rents in Toronto jump 10.7% in Q1 FINDING a condo to rent in Toronto is tough enough - paying for it has just got a lot harder. Read more at The Business Times.

Have you recently closed or taken occupancy of a new build condo unit and plan to lease it out? Are you aware of the New Residential Rental Program (NRRP). Did you know you may be eligible for a HST rebate?

Are you one of the following:

1. landlord who purchased a newly constructed or substantially renovated residential rental property

2. landlord who built your own residential rental property

3. landlord who made an addition to a multiple-unit residential rental complex.

If you can provide minimum a 1 yr lease you may be eligible for rebate and you have up to 2 yrs to file. Unfortunately less than 10% of investors file.
If you have any questions please feel free to contact us we're here to help.
Please find attached link to form and further info.

GST/HST new residential rental property rebate - Canada.ca GST/HST - Find out if you are eligible for the GST/HST new residential rental property rebate, which GST/HST new residential rental property rebate you can claim, and what information to include with the rebate application and what records to keep

Make sure you're on top of your real estate investment. We've been hearing more and more stories of tenants putting up units on airbnb. Not only is this practice illegal but you the owners will be held responsible for any damages or board imposed fines.
If you don't have the time to check up on your investment now may be the time to higher a property manager.
http://www.cbc.ca/news/canada/toronto/condo-rentals-airbnb-investigation-1.4560076

Toronto condo owner discovers unit listed on Airbnb behind her back — with more than 70 reviews

Attention ALL Landlords:
Did you know?
Effective April 30th ALL residential leases must be completed on the new Residential Tenancy Agreement (standardized form)
As a landlord its important to understand and know your rights in an ever changing residential rental market.
Your rental property is an investment, so is it not time you treat it like one?
Please feel free to contact us with any questions or concerns regarding this and other changes in the market over the past 12 months.

Flip, rent or hold. What is the best path to real estate wealth?
https://www.realtor.com/news/trends/flip-rent-or-hold-the-best-path-to-real-estate-riches/

Flip, Rent, or Hold: What's the Best Path to Real Estate Riches?

Real Estate investing Tip!!
Before considering investing in a rental property try to pay off as much unsecured debt as possible. This means credit cards, personal and student loans, it will greatly affect how much you qualify for when looking for a mortgage.

The biggest mistake new real estate investors make is treating it like a hobby and not a business. Set a plan, know your strengths/weaknesses and get professional help.
If you're looking for a hobby we can recommend some great continuing education programs at less than 1% of the cost.

Effective September 1st 2017: Ontario changes how you can evict a tenant.

Landlords can no longer terminate tenancy when month to month for a family member to move in without providing compensation.

https://www.thestar.com/news/queenspark/2017/08/31/landlords-can-no-longer-evict-tenants-without-compensation.html

Landlords can no longer evict tenants without compensation | Toronto Star Ontario tenants will have additional protection from eviction starting Friday; when a landlord ends a tenancy to have family members move in, people evicted must receive compensation.