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Tenant Screening, Landlord Screening, Online Tenant Screening, Tenant Screening Checks, and Tenant Screening Credit Checks

Information accessible to every landlord

This blog is the result of countless hours of research over the internet. We have tried to put together some of the services that you as a landlord would need.. Criminal and Credit check, free advertising of your property, Collection agency, Security cameras, legal forms, informational web site for each of the states in the US and in Canada to cover all the laws concerning Landlord and Tenants, etc. Each week I will try to add more and more useful information that applies to landlords. I have rental property in both the US and Canada. Read about my nightmare tenant and you'll see why it is important to follow all the steps. Taking the time now, will eliminate future financial headaches. I will post as many tips to help you out as I can. There is nothing like a nightmare tenant to motivate a landlord to put the case on the internet. After winning my case against this tenant I decided to make my case public. Although I won, I still cannot collect my overdue rent and legal fees in excess of $12,000,-- In addition I put the amounts owed through small claims court and only claimed $10,000. This amount will forever be in his file. The important issue, we were able to evict him. Nothing worse than a tenant who is not paying and you unable to evict him. Read my story and you'll see why.

Wednesday, December 1, 2010

Canada- Ontario- How to Evict a Tenant when rent is not being paid. Step no 1

You can go directly to the Ontario government web site that has all the forms by clicking on this link .
In this chapter I am going to go through the stages you have to go through before you can evict a tenant.  Hopefully along the way, the tenant decides to pay the overdue rent and expenses and you won't have to go that far.
Step one: The tenant is late with the rent and has not contacted you or has contacted you and not sure when he will have the money.  Do not delay in doing this step.  The reason is that you have to give the tenant 14 days to pay the rent.  The next step takes 10 or more days and before you know it a month has passed. If he/she pays you in the meantime, fine, if not, you will have to go through these steps and it will only delay the process in his favour.
So, you complete the N4 Notice- End of Tenancy Early for Non Payment of Rent click on this link to get the  N4 form or you can go to the Ontario government site to get it.  You would use this notice to start eviction proceedings.  If you do not do this step, you will not be able to evict the tenant if he/she does not pay the rent.

You may be inclined to skip this step and go straight to step 2, but as stated above, there is no further recourse if the client does not pay the rent.


If your tenant pays rent by the month or year, you must give at least 14 days
notice. If your tenant pays rent by the day or week, you must give at least 7 days
notice.
When counting the days, do not include the date you are giving the notice to the
tenant. For example, if you give the notice to the tenant by hand on March 3rd, the
first day of the 14-day notice period is March 4th; in this example, the earliest
termination date would be March 17th. If you are giving the notice to the tenant
by mail or courier, you have to add extra days in calculating the termination
date. If you are not delivering the notice to the tenant in person, you may have to add one or
more days for the delivery of the notice:
�� If you are sending the notice by courier, add one business day.
�� If you are sending the notice by mail, add five days.

Monday, November 15, 2010

Canada - Ontario Tax tip #2 - for CCA highlights ( new class 52 at 100% depreciation allowed

Capital Cost Allowance – Depreciation- 100%- this means the full amount is deductible
A new class has been added Class 52-  This includes general purpose electronic data processing equipment, commonly called computer hardware and systems software for that equipment including ancillary data- processing equipment, acquired after January 27, 2009 and before February 2011.  The CCA rate is 1005 and the half year rule will not apply.  Further info on page 20 of the guide

Remember: Depreciation can only reduce your income to zero. It cannot produce a loss.
Another tip:  your car is one of your greatest assets that you can claim depreciation.  This will be covered in the future.
You can also claim depreciation on your building that you rent, but remember that the depreciation will have to be added to the sale price when your capital gains are calculated.  You may want to keep that last deduction as a last resort. 

Sunday, November 14, 2010

Canada- Ontario Tax Tip # 1- What expenses can I declare?

Advertising
Property Insurance
Property Taxes
 Interest payments
Motor Vehicle expenses (not including CCA on vehicle)
                Gas, car wash, license renewal sticker , car insurance, car repairs, oil changes,
                 Drive clean test if required, tire repairs etc
Maintenance and repairs, such as electrical, plumbing, cleaning supplies
Office expenses,- paper supplies, toners and inkjet supplies,
Wages , benefits, including the employer’s share
Accounting and other professional fees and legal dues
Utilities if you are responsible for paying them such as heat, hydro, water
Travel expenses
Other expenses such as  filing fees for court proceedings relating to tenant problems

Thursday, November 11, 2010

Wednesday, November 10, 2010

#8 Florida- steps in filing an eviction

FILING AN EVICTION - Florida

Instructions for the Completion of a Landlord and Tenant Action
(Chapter 83 Florida Statutes)
NOTE: The forms used for filing an eviction for possession only, may be obtained from the Clerk of Courts.
Step I. Three-Day Notice to Tenant(s) - The statutory, three-day Notice to Tenant(s) must be served by mail, hand delivered or posted prior to filing an Eviction Action.
Step II. Paperwork and Filing Fee Needed for Filing Eviction After Giving Tenant(s) the Three-Day Notice


  • Complaint for Tenant Eviction (form may be obtained from Clerk)
  • Copy of the three-day, statutory Notice to Tenant (defendant)
  • Lease/Rental Agreement (if applicable)
  • Filing Fee of (Check with your County Clerk) in form of cash, check, MasterCard or Visa, certified check, or money order payable to (Check with your county clerk).
  • Service of Summons Fee of $??.?? for each tenant (defendant) in form of check or money order and payable to SHERIFF OF YOUR COUNTY, plus a self-addressed stamped envelope with sufficient postage.

    Step III. Copies and Other Attachments - Make copies of all forms and related documents for your records.
    The following copies must be submitted with the documents from Step II:
    • Original Complaint for Tenant Eviction and two copies for each tenant (defendant). Please verify on the Complaint, the Eviction address, the apartment number and spelling of the street address for correctness, in order for the  County Sheriff's Office to serve the Five (5) day Summons without delay.
    • Copy of the Statutory Notice to Tenant and Lease/Rental Agreement, along with two additional copies for each tenant (defendant).
    • Two legal size (#10) envelopes for each tenant (defendant) and one for yourself (plaintiff). Envelopes must be addressed to each tenant (defendant), yourself (plaintiff) and contain sufficient postage to mail copies of the complaint, three-day notice, lease/rental agreement (if applicable) and summonses.
    Step IV. Filing and Service of Summons -  You may file your case with the Clerk of the Court either in person or by mail, at any of the locations listed. The clerk will handle the service of your Complaint only if the Eviction is in Palm Beach County.
    Fees:
    • Make sure to have cash, check, MasterCard or Visa, certified check, or money order payable to YOUR CLERK, Clerk & Comptroller, in the amount of $(Verify amount) and
    • Certified check or money order payable to the Sheriff of YOUR County in the amount of $20.00 (Verify Amount)
    Step V. What to Expect After Filing - Once you have filed your Complaint with the Clerk of Court, and after the other party (defendant) has been served, he or she has 5 (five) business days to respond to the Complaint, excluding the day the Summons is served, Saturdays, Sundays and Legal Holidays.
    You may contact the Clerk of Court, County Court Civil Division by telephone to verify if the tenant(s) has responded to the Complaint. If the Tenant(s) fails to respond, you may continue with the following steps:

    Step VI. Paperwork Required to Obtain Judgment for Eviction
    • Motion for Default (form may be obtained from Clerk)
    • Final Judgment (form may be obtained from Clerk)
    Step VII. Originals, Copies and Attachments
    • One original completed Motion for Default.
    • One original completed Final Judgment: one copy for each tenant (defendant) and one copy for yourself.
    • One stamped legal size (#10) envelope for each tenant, and one stamped/addressed to you.
    NOTE: If the Tenant (defendant) does not vacate after Final Judgment has been entered, you will need to obtain a Writ of Possession from the Clerk.
    Step VIII. Obtaining a Writ of Possession
    1. Contact the Clerk in person or mail and request the issuance of the Writ of Possession.
    2. The Sheriff will require a fee of $(CHECK AMOUNT) for service of the Writ of Possession in form of check, cashiers check or money order, payable to SHERIFF OF YOUR COUNTY.
    3. Self-addressed stamped envelope.
    4. Completed Sheriff Information Sheet. (Form may be obtained from the Clerk).
        YOU SHOULD CONTACT THE  COUNTY SHERIFF'S OFFICE  FOR ADDITIONAL INFORMATION RE: THE WRIT OF POSSESSION OR OTHER SERVICES OR YOUR ATTORNEY

        Next:
      Do you have to pay sales tax on rental property?

    Sunday, November 7, 2010

    # 7 Florida- How much notice period is Required?


    83.03Termination of tenancy at will; length of notice.
    A tenancy at will may be terminated by either party giving notice as follows:

    (1)Where the tenancy is from year to year, by giving not less than 3 months’ notice prior to the end of any annual period; ( this means 3 months prior to the end of the lease and not at any time)
    (2)Where the tenancy is from quarter to quarter, by giving not less than 45 days’ notice prior to the end of any quarter;
    (3)Where the tenancy is from month to month, by giving not less than 15 days’ notice prior to the end of any monthly period; and
    (4)Where the tenancy is from week to week, by giving not less than 7 days’ notice prior to the end of any weekly period.
    Next: Steps in filing an eviction

    Saturday, November 6, 2010

    # 6 Florida- Non-payment of Rent- What can the Landlord do?

    Non-Payment of Rent
    Section 83.56(3), F.S.

    The landlord must serve the tenant, a written notice allowing three days (excluding weekends and legal holidays) for you to pay the rent or move from the premises. If the tenant does not pay the rent or move, the landlord  may begin legal action to evict the tenant.
    In order for the landlord to gain payment of rent or possession of the dwelling, he/she must file suit in county court. If the court agrees with the landlord, the tenant  will be notified in writing. The tenant will then have five days (excluding weekends and legal holidays) to respond – also in writing – to the court. If  the tenant does not respond or a judgment is entered against  the tenant,  the clerk of the county court will issue a “Writ of Possession” to the sheriff who will notify the tenant  that eviction will take place in 24 hours.

    Florida Law does not allow a landlord to force a tenant out by:
    • Shutting off the utilities or interrupting service, even if that service is under the control of or the landlord makes payment;
    • Changing the locks or using a device that denies the tenant access;
    • Removing the outside doors, locks, roof, walls or windows (except for purposes of maintenance, repair or replacement); and/or
    • Removing the tenant's personal property from the dwelling unless action is taken after surrender, abandonment, recovery of possession of the dwelling unit due to the death of the last remaining tenant in accordance with section 83.59(3)(d), or lawful eviction.
    If any of these occur, the tenant may sue for actual and consequential damages or three months' rent, whichever is greater, plus court costs and attorney's fees

    Other evictions: 
    Under certain circumstances, if the tenant has exhibited a lack of consideration for the rights and privacy of others, a landlord has the right to require the tenant to move with very little notice.
    In some cases (destruction, damage, misuse of property, unreasonable disturbances), the landlord does not have to give the tenant an opportunity to remedy the problem and may terminate tenancy by giving the tenant a seven-day written notice.
    Each eviction case is unique, so be sure to obtain legal advice. A landlord MAY NOT evict a tenant solely in retaliation for the tenant complaining to a governmental agency about code violations or asserting other tenant rights.

    Next: How much Notice Period is required?

    Friday, November 5, 2010

    # 5 Florida- Access to the Premises by the Landlord


    3.53

    Landlord’s access to dwelling unit.

    (1)The tenant shall not unreasonably withhold consent to the landlord to enter the dwelling unit from time to time in order to inspect the premises; make necessary or agreed repairs, decorations, alterations, or improvements; supply agreed services; or exhibit the dwelling unit to prospective or actual purchasers, mortgagees, tenants, workers, or contractors.
    (2)The landlord may enter the dwelling unit at any time for the protection or preservation of the premises. The landlord may enter the dwelling unit upon reasonable notice to the tenant and at a reasonable time for the purpose of repair of the premises. “Reasonable notice” for the purpose of repair is notice given at least 12 hours prior to the entry, and reasonable time for the purpose of repair shall be between the hours of 7:30 a.m. and 8:00 p.m. The landlord may enter the dwelling unit when necessary for the further purposes set forth in subsection (1) under any of the following circumstances:
    (a)With the consent of the tenant;
    (b)In case of emergency;
    (c)When the tenant unreasonably withholds consent; or
    (d)If the tenant is absent from the premises for a period of time equal to one-half the time for periodic rental payments. If the rent is current and the tenant notifies the landlord of an intended absence, then the landlord may enter only with the consent of the tenant or for the protection or preservation of the premises.
    (3)The landlord shall not abuse the right of access nor use it to harass the tenant.

    History.
    Next:  Non-Payment of Rent- What can the Landlord do?

    Thursday, November 4, 2010

    #4 Florida- What is the responsibility of the Landlord?

    The Landlord

    Section 83.51(1), F.S.
    The landlord's responsibilities will depend on the type of rental unit. The landlord of a dwelling unit at all times during the tenancy shall:
    • Comply with the requirements of applicable building, housing and health codes; or
    • Where there are no applicable building, housing or health codes; maintain the roof, windows, screens, floors, steps, porches, exterior walls, foundations and all other structural components in good repair and capable of resisting normal forces and loads;
    • Keep the plumbing in reasonably good working condition.
    The landlord's obligations may be altered or modified in writing with respect to a single family dwelling or duplex.
    Section 83.51(2)(a), F.S.
    In addition to providing the above requirements, the landlord of a dwelling unit other than a single-family home or duplex shall, at all times of the tenancy, make reasonable provisions for:
    • Extermination of rats, mice, ants and wood destroying organisms and bed bugs.
      Locks and keys.
    • Clean and safe conditions of common areas.
    • Garbage removal and outside receptacles.
    • Functioning facilities for heat during winter, running water and hot water.
    Section 83.51(2)(b), F.S.
    If the dwelling is a single-family home or duplex, a working smoke detection device.
    This does not mean that the landlord is obligated to pay for utilities, water, fuel or garbage removal, although he/she may choose to. Other provisions relevant to a rental agreement may also be altered in writing.

    Next:  Access to the Premises by the Landlord

    Wednesday, November 3, 2010

    # 3 Florida -Failure of Landlord to Maintain or Repair


    83.201

    Notice to landlord of failure to maintain or repair, rendering premises wholly untenantable; right to withhold rent.

    When the lease is silent on the procedure to be followed to effect repair or maintenance and the payment of rent relating thereto, yet affirmatively and expressly places the obligation for same upon the landlord, and the landlord has failed or refused to do so, rendering the leased premises wholly untenantable, the tenant may withhold rent after notice to the landlord. The tenant shall serve the landlord, in the manner prescribed by s. 83.20(3), with a written notice declaring the premises to be wholly untenantable, giving the landlord at least 20 days to make the specifically described repair or maintenance, and stating that the tenant will withhold the rent for the next rental period and thereafter until the repair or maintenance has been performed. The lease may provide for a longer period of time for repair or maintenance. Once the landlord has completed the repair or maintenance, the tenant shall pay the landlord the amounts of rent withheld. If the landlord does not complete the repair or maintenance in the allotted time, the parties may extend the time by written agreement or the tenant may abandon the premises, retain the amounts of rent withheld, terminate the lease, and avoid any liability for future rent or charges under the lease. This section is cumulative to other existing remedies, and this section does not prevent any tenant from exercising his or her other remedies.


    Next: What is the responsibility of the Landlord?





    Tuesday, November 2, 2010

    # 2 Florida- Landlord can put a Lien on Renter's Belongings

    83.08 Landlord’s lien for rent.
    Every person to whom rent may be due, the person’s heirs, executors, administrators or assigns, shall have a lien for such rent upon the property found upon or off the premises leased or rented, and in the possession of any person, as follows:
    (1)Upon agricultural products raised on the land leased or rented for the current year. This lien shall be superior to all other liens, though of older date.
    (2)Upon all other property of the lessee or his or her sublessee or assigns, usually kept on the premises. This lien shall be superior to any lien acquired subsequent to the bringing of the property on the premises leased.
    (3)Upon all other property of the defendant. This lien shall date from the levy of the distress warrant hereinafter provided.

    83.09  Exemptions from liens for rent.
    No property of any tenant or lessee shall be exempt from distress and sale for rent, except beds, bedclothes and wearing apparel.

    Basically anything that the renter owns, such as a vehicle, appliances, furniture ( other than the actual bed), Television etc can have a lien placed on them.  It may be a good idea to get the renters VIN number on his/her vehicle or ownership when applying for rent. 


    Next: Failure of Landlord to  Maintain or Repair

    Monday, November 1, 2010

    #1 Florida-- Double the Rent for refusal to leave?


    Right to demand double rent upon refusal to deliver possession.
    — Florida statute 83.06

    (1)When any tenant refuses to give up possession of the premises at the end of the tenant’s lease, the landlord, the landlord’s agent, attorney, or legal representatives, may demand of such tenant double the monthly rent, and may recover the same at the expiration of every month, or in the same proportion for a longer or shorter time by distress, in the manner pointed out hereinafter.
    (2)All contracts for rent, verbal or in writing, shall bear interest from the time the rent becomes due, any law, usage or custom to the contrary notwithstanding.
    The above is the legal verbiage in the Florida Statute.  
    Next: Landlord can put a Lien on Renter's Belongings

    Saturday, October 30, 2010

    Rental Rules for Landlords who rent Property in Florida- Rent Deposits

    Florida's Landlord Tenant Law falls under Chapter 83 of the Florida Statutes.

    Rent and other Deposits: Direct quote from  Section 83.49 of the Florida Statutes
    A landlord has the discretion to collect various deposits as well as some rent in advance. These advance payments generally vary in range. You should be careful about making any deposit unless a definite decision has been made to move into the unit. A tenant who puts down a deposit but then decides not to occupy the unit, MAY NOT be entitled to a refund. If a deposit is non-refundable it should be stated in the rental agreement.

    A damage deposit is the most common requirement of landlords. At the time of the pre-rental walk-through with the landlord, you should make note of damaged items or areas, worn rugs, broken fixtures, etc. and give a copy to the landlord. Keep a copy for your files, which may help eliminate or minimize disputes later.
    When you move out, the landlord must either return your deposit within 15 days of termination of the rental agreement, if the landlord does not intend to impose a claim upon the security deposit; or justify in writing by certified mail, to the tenant's last known mailing address within 30-days upon termination of a rental agreement, as to why they are keeping a portion of or all of the deposit. If the notice is not sent as required within the 30-day period, the landlord forfeits his/her right to impose a claim upon the deposit, unless you fail to give proper notice prior to vacating.

    Next:   What is the Responsibility of the Landlord?

    Tuesday, October 26, 2010

    US tax rules on rental property- Expenses you can deduct

      The following was taken from the IRS website 2010.

    Rental Expenses (continued)

    Other Deductible Rental Expenses

    In addition to mortgage interest and property taxes, deductible rental property expenses include:
    • Advertising
    • Auto and travel expenses to check on the property
    • Cleaning and maintenance
    • Commissions paid for collecting rental income
    • Insurance premiums
    • Legal and professional fees
    • Property management fees
    • Repairs
    • Utilities paid for the tenant
    • Homeowner association fees
    • Other rental-related expenses, such as rental of equipment and long distance phone calls

    US tax rules are a bit different- excerpt from the IRS website on rental property

    Personal Use of Rental Property

    Whether to Report Income and Expenses

    Taxpayers who do not use a dwelling unit as a home (for personal purposes) should:
    • Include all the rent in their income, and
    • Deduct all the rental expenses, even if expenses exceed income
    Taxpayers who do use a dwelling unit as a home and rent it out 15 days or more during the year should:
    • Include the rent in their income, and
    • Deduct the rental expenses
    However, rental expenses that exceed rental income may not be deductible.
    Taxpayers who do use a dwelling unit as a home and rent it out fewer than 15 days during the year should:
    • Not include the rent in their income, and
    • Not deduct the rental expense
    This topic discussed when to report rental income and deduct rental expenses for property a taxpayer used for personal purposes.
    If the property was used as a rental for the entire year, the income and expenses can be reported on Schedule E.
    If the property was used partially as a rental and partially as a residence, some expenses may need to be allocated as rental use or personal use; these expenses are reported separately. The most common methods used are based on the number of rooms in the dwelling or on the total area of the dwelling.
    Taxpayers who do not use a dwelling unit as a home (for personal purposes) should include all the rent in their income and deduct all the rental expenses.
    Taxpayers who do use a dwelling unit as a home and rent it out 15 days or more during the year may not be able to deduct rental expenses that exceed rental income.
    Taxpayers who do use a dwelling unit as a home and rent it out fewer than 15 days during the year should not report any of the income or deduct any of the rental expenses.




    Canada -Tax form and guide pertaining to Rental Income reporting for Tax purposes- for CANADA

     The official Rental Guide used in Canada  can be found on the CRA site or  you can just click on the LINK.  It is about 32 pages and it is the 2010 version.    It basically spells out the expenses you can claim and those you cannot.  It gives you the different classes in order to determine your rate of depreciation also known as the capial cost adjustment (CCA)This guide will be updated every year as soon as Canada Revenue Agency comes out with a new guide.  The Statement of Real Estate rentals also known as the T776 has also been download from the official CRA site.  It can be used as a guide on what expenses are allowed.  It consists of two pages. The first page lists all the expenses and page 2 is recerved for CCA or depreciation calculation.  I hope this is not too tecnical for you.  I can post small snippets as we get closer to tax time. If you have a specific question, post it here and I will try and answer it with a new post.
    Click Here for the rental guide .
    Click here for the T776 - this form lists all the expenses for your rental property.

          

    Monday, October 25, 2010

    How to get ready for Income Tax time ....How can I make this less painful?

    If you are going to go into the rental business you should also be prepared to keep meticulous records if you don't want the taxman to exclude any of your expenses. .
    There are various scenarios:
    1) you live in the house and rent part of the home out
    2) you own a condo and rent it out part of the year
    3) you own a condo and rent it out for all of the year
    4)You rent out the whole house to one or more tenants.

    First, buy a cheap Hilroy spiral notebook and put all your receipts pertaining to the rental properties  in that book.  It would be a good idea to staple or tape it on each page with a small explanation of what the product is. At the end of the year, you will have every receipt in one place.  Depending on your bills, you may find that you need more than one book. Another way to keep your receipts organized is to keep an Index at the back of the book. Number all the pages starting with 1.  As you tape each receipt on the back put a brief description,  the total amount of that specific receipt and the page number where you can find it. I use this index to enter the information at the end of the year in an excel spreadsheet and then add them up automatically. .

    In addition to the regular expenses such as, electric, heat, water, property taxes, house or condo insurance, you can also include  interest paid on mortgage payments.

    If you keep a small office in your home, office expenses are allowed if it pertains to keeping records for your rental property. If the office is off site and in your house, all the house expense receipts should be kept.  The portion of the room as compared to the rest of the house will determine what percentage of your bills can be claimed as office expense.  The easy way to do it is to take the square footage of the office area divide it by the total square footage of the house and  multiply by 100. This is the percentage  of the bills you may claim
    Example:
    The house is 1500 sq. feet.  The office is 500square feet.  (500/1500) = .33333 *100= 33%
    You may claim 33% of all your household bills except for telephone unless you have a separate line for your office.   Then it would be 100% of that telephone bill. Your household bills would include: property taxes, house insurance, heating, hydro, water.

    Your office expenses( of which you could claim 100%) would include:
    Paper, printer and other office supplies- pens, staples, scotch tape, ink jet or laser jet toners. Lighting, desk, chair, pad on the floor, filing cabinets, file folders, file holders etc.
    Computers  ( Class 10) you can claim 30% depreciation.  Fax machines, you can claim 20%.

     Any tools or furniture or appliances costing  less than $500 can be claimed at 100%.  Anything over $500 you can claim depreciation of 20% ( class 8)

    In Canada, CRA site of the different classes and depreciation levels can be found on http://www.cra-arc.gc.ca/tx/bsnss/tpcs/slprtnr/rprtng/cptl/dprcbl-eng.html.

    In the US information on the calculation of the depreciation of properties and rates is found at http://www.irs.gov/publications/p946/index.html


    Other expenses are background checks,   Purchase of lease forms,  Legal advise, the cost of  Tribunal proceedings and evictions , repair work , collection fees and  advertising fees.

    If you use your car to drive to the rental properties you can claim a portion of these expenses.  Car insurance, gas, car wash, license fee, depreciation, and if you have a loan, interest on that loan, and if you are leasing, lease payments. The way that s calculated is usually done by kilometers or miles..  If you drive 20,000 km or mi per year and  5,000 of those miles or km  relate to the rental property the you would use the same formula as the home expenses.    5,000/20,000 =.25 *100= 25% of all expenses.
     If you use an accountant to do your taxes, his fees would also be tax deductible.
    If you furnish the apartment, depending on the cost of the items they could be discounted 100% or you can claim depreciation expense. If the item is worth more than -

    What is important is to keep all those receipts.  The more organized you are, the cheaper the cost to do your taxes.  Without those receipts the accountant and the tax man can disallow your expenses.   By taping or stapling the receipts in the book, you will never lose them and they will be at your fingertips.  Heaven forbid you should be audited, but if you were, you would be able to substantiate your expenses with the relevant receipts.

     My advice: If this is the first time you are renting out property, have a specialized tax specialist do your taxes the first year.  Compare what he does to the list I just gave you.  Make sure he/she covers everything.  Some good tax specialist will offer information and will ask a lot of questions  as they are trying to  do the taxes in your favor. If you deal with someone that does not ask too many questions, you may be dealing with someone that doesn't want to work too hard for you.  But if you supply all the receipts, be prepared to ask if any of them are not used and why, especially if they have been mentioned here.

    Another tip is to use a credit card that you devote solely for the expenditures that pertain to the rental units. You still have to keep detailed receipts so that the reason for the expediture is clear.

    Sunday, October 24, 2010

    LIght Humour- Tenant Excuses for not paying the rent


    Tenant Excuses For Not Paying The Rent
    
    "I can't pay my rent as my BMW is in the shop, 
    and I cannot affordto pay for both."
    
    "I can't pay my rent because the checks come
     out of Japan and theplane crashed."
    
    "If I move, my friends won't know where to find
    me."
    
    "Well, you see, I cannot pay the rent
     because my daughter ate my husband's paycheck."
    
    "I deposited my paycheck in the bank teller
    machine and it got caught in the rollers. 
    It took six days to tear apart the machine."
    
    "I had my choice of paying the rent or buying 
    a car.  I bought a car.  I knew you would understand."
    
    "I am sure I paid you -- YOU must have lost it."
    
    "You towed my car away that was illegally parked
     and I refuse to pay my rent until you get my car
     out of impound."
    
    "It's your fault.  You deposited my check too late.  
    My automatic withdrawals went through the bank before
    the rent check."
    
    "There is nowhere else to go.  The place I applied to
     will not take me because you are evicting me."
    
    Finally, courtesy of Randy Chapman, office manager for
    the Apartment Association of Seattle & King County, this
    reason for not paying the rent: "The house is haunted."

    Information of how the Landlord Tenant Act works for the different states.- New Jersey, Wisconsin, Virginia

    In New Jersey the way landlord tenant cases are clearly illustrated. Just click on this link to take you to the site.

    In Wisconsin a legal company provides the following guidance. Click on this link to find out. 

    In Virginia, the Department of Agriculture and Consumer Affairs has a web page that answers questions regarding the landlord tenant issues.  Click on this link for access.

    Each week I will try to add a few different states until all are covered.

    Saturday, October 23, 2010

    Comment or Question?

    Leave a comment or ask a Question and I will try to provide the info on the next posting.

    Access to all the Landlord Tenant Laws that pertain to Canadian Provinces

    If you live in Canada and would like access to the actual Landlord and Tenant Act just click on the appropriate  link and it will take you directly to the government site. Every province has their own set of rules.  Provincial Law governs the Landlord and Tenant Act. You can bookmark this link or just bookmark my blog and you can check it any time.  Since this is a direct link to the government web site, the rules and regulations together with any of the forms will always be up to date.

    1) Ontario -http://www.ltb.gov.on.ca/en/index.htm -- if you would like to take a peak preview of the coles notes version of the Residential Tenancies Act click here and if you need help with disputes this is the site that will help you with forms etc check out the  Landlord and Tenant Board, 
    3) British Columbia -http://www.rto.gov.bc. -ca/
    6) New Brunswick and Labrador –http://www.gs.gov.nl.ca/faq/landlord_faq.html
     7) Prince Edward Island - http://www.irac.pe.ca/rental/
    10) Yukon - http://www.community.gov.yk.ca/consumer/landtact.html

    If your property is located in Canada or in the United States

    Check out our page  on Canadian laws  This is a quick summary of the rental rules in each of the provinces.  It is not in depth but it gives you an idea of how different the laws are depending on which province you live.

    Federal initiatives for low-rental housing: A study of the application of Section 16, National Housing Act, 1954 (as amended) to Metropolitan Toronto

    If your property is located in the United States check out these links:
    There are books in the market that can help you be a better landlord and get to know the laws. It would not hurt to have something in writing to refer to when you need it and you don't have access to the internet.  "The written word is always more powerful than the spoken word".  People always give more credibility to a fact that is written down on paper as opposed to someone yelling at them.

    American Landlord: Everything U Need to Know... about Property Management

    Secrets to a Successful Eviction for Landlords and Rental Property Managers: The Complete Guide to Evicting Tenants Legally and Quickly

    Above The Law     The California Landlord's Law Book: Evictions       Landlord and Tenant Law

    Rent Control: Regulation and the Rental Housing Market      

    Friday, October 22, 2010

    Does the Landlord have legal access to a Tenant's apartment?

    1.5.3 Can the landlord show the rental unit when the tenant is not at home?

    If the landlord complies with the rules given in the answer above, the landlord can show the rental unit when the tenant is not at home.

    1.5.4 What can the tenant do if the landlord enters illegally?

    If a landlord does not follow these rules, a tenant can contact a Residential Tenancy Branch office to help resolve the dispute. If the dispute goes to dispute resolution and the dispute resolution officer believes the landlord may continue to enter the rental unit illegally, the tenant may be allowed to change the locks and keep the only keys. The tenant must give the landlord the keys when they move out. If the tenant does not do so, the landlord can deduct the cost of changing the locks from the security deposit with the tenant's permission or a dispute resolution officer's order.

    1.5.5 Can a tenant change the locks?

    Tenants must not change the locks without the landlord's permission or without a dispute resolution officer's order.
    If an emergency occurs when the tenant is not at home and the door cannot be opened, the landlord or emergency personnel may remove the door.