Free Credit Report

Did you know that everyone is entitled to a free credit report. There are three bureaus that have your records: Equifax, Experian and TransUnion.

In Canada- Here is the link for the form to be completed together with the address to submit the form to: Equifax, and TransUnion ( As of April 17, 2009 Experian has discontinued providing credit reports for Canadians)

For the US - the links are as follows: Equifax and TransUnion and Experian

Remember, you are entitled to one free credit report per year. You can submit the application by mail and receive it within three weeks. If you want to see it online, then they may charge you a fee for this convenience.

Step 2: Form L1-Application to evict a tenant for non-payment of rent and to collect rent the tenant owes

Okay, so you have given your tenant the N4 termination notice  together with the amount he owes and he has 14 days to pay.  The termination date arrives and he/she does not pay. You cannot file this application until the day after the termination date in the Notice to End a Tenancy Early for Non-payment of Rent (Form N4). Your next step is to complete Form L1. As of today's date- June 18, 2011, the cost for filing the Form  L1 is $170.  You will need to have a copy of the N4 termination notice AND a  Certificate of Service. Basically the Certificate of Service  is a form that states  the date you delivered the  N4 Termination Notice , who you gave it to and how it was delivered-- either in person, by mail, etc.
You will also be directed to a check list on how to complete the L1 Form.  Follow the directions carefully.  If the board does not accept the application due to missing signature or information, you will have to refile it again.
IF YOU CLICK ON THIS LINK you will be directed to the web page: Form L1- how to evict a tenant for non-payment of rent and to collect rent due.  This is an 11 page booklet that explains how to complete the forms.  If you go to the Board office in person, they will be able to schedule a hearing while you wait.  you can request that the cost of the filing fee be charged to the tenant as well.
What is next? Step 3

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.

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. 

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

# 9 Florida- Do you have to pay sales tax on rental property?

Only transient properties are subject to sales tax.   That is properties that are rented on a daily, weekly or monthly basis are subject to taxes where there is no lease or the lease is for less than 6 months.  If you have a lease for longer than  six months, then no sales tax is payable.

The loss of homestead through rental. (Florida): An article from: Florida Bar Journal

Florida's unlimited homestead exemption does have some limits. (part 1): An article from: Florida Bar Journal

How to be a Successful Landlord in Florida: The secrets to avoiding legal hassles

Landlord and tenant: Residential leases : the law in Florida

Landlord and Tenant Law in Florida

#8 Florida- steps in filing an eviction

FILING AN EVICTION - Florida	Florida Landlord Tenant Law
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 Contact the Clerk in person or mail and request the issuance of the Writ of Possession. 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. Self-addressed stamped envelope. 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?