MIKE LIND

Category: Real Estate

  • Could you please inquire with the owners if they are willing to rent to own?

    Being an enthusiastic thrifter of CDs, books, and phones, I spend a lot of time on Facebook marketplace looking for good deals.

    There is a default message you can click to send a quick message to a seller asking if the item is still available. “Hi. Is this still available?”

    A lot of sellers get annoyed with it because they get a bunch of these messages, and after the seller replies, they get no response.

    When I hit that default message, I always followup with another message right away asking where I can pick up the item and if there is flexibility with the price (if I feel it is over priced).

    The same sort of thing happens when I list a house for sale and it hits the public side of the MLS (realtor.ca). 

    I get a bunch of emails like this:

    General inquiry for 35 MAIN AVE, Toronto, Ontario M7G3V5, #V8398866 – it’s the equivalent of the default Facebook Marketplace message.

    A simple click and it’s sent.

    The default message is always the same, 

    Message from Makayla:

    I would appreciate more information about 35 MAIN AVE, Toronto, Ontario M7G3V5.

    and so is my response,

    Hi Makayla, what information are you looking for?

    Most of my replies go unanswered. Some just want to know about open houses, others would like me to take them through it because their agent isn’t available.

    Ya, OK.

    This morning, I was surprised with this message:

    Message from Holly:

    I would appreciate more information about 35 MAIN AVE, Toronto, Ontario M7G3V5.

    Which had this note underneath:

    Hi Mike,

    Could you please inquire with the owners if they are willing to rent to own?

    Holly

    My goodness, Holly, why didn’t I think to ask the homeowners if they would consider a rent-to-own option from the beginning?

    Because people want to sell their houses when they list it for sale.

    Most sellers need the proceeds of the sale to be able to afford their next house.

    I have a sneaky suspicion of where Holly came from; she either read a book like Rich Dad, Poor Dad or went to a Scott McGivilray seminar (or similar) where they have these programs and options to be able to find cash flowing properties, or home buying alternatives, like using other people’s money to buy homes. 

    There’s a sucker born every minute, or so I’ve been told.

    If you’ve never heard of this scheme, rent-to-own is a home buying arrangement that lets people initially rent a home with the possibility of purchasing it later. This rarely effective option is for those who want to own a home but have yet to save enough money for a down payment.

    In other words, they can’t afford to buy a home in the traditional way through a mortgage lender like a bank.

    The Liberal government website says, that in a typical rent-to-own scenario, a buyer commits to renting a property for a specified period of time, during which they have the option to buy the home at a predetermined price before the lease expires. This setup allows tenants time to build up funds for a down payment.

    The agreement is set between the landlord and the tenant, with the understanding that as time progresses, the down payment accumulates, enabling the tenant to purchase the home from the landlord eventually. The key to these agreements includes a clearly defined option to buy at the end of the lease term and a set timeline for exercising this option.

    How Does Rent To Own Work

    Rent-to-own lets you use part of your monthly rent to save for buying a home later. It locks in the home’s price upfront to help you plan your finances.

    But what if the property value changes before the set date? More on that later.

    Like renting normally, you pay a set amount each month for a set time. But with rent-to-own, some of that money eventually goes towards owning the home.

    There are two options:

    1. **Lease-option agreement**: You can decide not to buy the home at the end of your lease with no extra fees.

    2. **Lease-purchase agreement**: You agree to buy the home at the end of your lease. There may be penalties if you change your mind or can’t get a mortgage.

    The agreement spells out how long you’ll rent, the rent amount, money set aside for the down payment, when you can move in, the home’s price, and when the contract ends. It’s important to have a lawyer review everything so you know what to expect.

    Here’s a simple example:

    – **Agreed Purchase Price**: $390,000

    – **Option to Purchase Deposit**: $9,750 (due when you move in)

    – **Amount Owed After 3 Years**: $380,250

    – **5% Down Payment Needed**: $19,012.50

    – **Monthly Rent**: $1,500

    – **Extra Money Saved for Down Payment**: $600/month

    – **Total Saved for Down Payment in 3 Years**: $21,600

    – **Remaining Money After 5% Down**: $2,587.50

    In this example, after renting for three years, you’d save $21,600 towards the down payment. After putting down 5% ($19,012.50), you’d have $2,587.50 left, which could be used for other costs. This shows how rent-to-own works and why it’s important to plan ahead.

    Pros of rent-to-own:

    Rent-to-own is designed to help Canadians enter the real estate market more easily. If you’re thinking about this option, here are some reasons why it can be beneficial:

    1. **Build your savings**: Renters can save directly and through rent credits towards the home purchase. This allows time to address financial issues and achieve savings goals.

    2. **Live in your future home**: Rent-to-own lets you live in the home you plan to buy, fostering a sense of pride and allowing time to assess the community and living conditions.

    Cons of rent-to-own:

    However, like any home buying process, there are cons to consider. Here are some potential risks:

    1. **Property restrictions**: Some leases may restrict property modifications or features during the rental period.

    2. **Property value fluctuations**: If the property’s value drops during the lease, you might still need to pay the agreed-upon purchase price. Understanding the agreement’s terms regarding appreciation is crucial.

    3. **Missed payments**: Missing payments could jeopardize the agreement, possibly resulting in the loss of accumulated down payments or other penalties.

    You see, Holly, there is much more to consider with your little plan to rent-to-own a home.

    A hell of a lot more than simply asking the sellers if they would consider this option.

  • Houses That Sold in West Rouge February 2024

    Exploring Real Estate Trends in West Rouge and Centennial: A February 2024 Market Overview

    Hey everyone, it’s Mike Lind here, back with another exciting episode diving into the houses that sold in West Rouge and Centennial for February 2024. Today, I’m sporting my Thievery Corporation shirt, a souvenir from a concert my wife attended at Drake’s club. Yes, I missed out on the concert, but I’ve got some interesting real estate stories to share with you.

    But before we delve into the housing market, let me give you a glimpse into my recent concert experience. Standing in line with general admission tickets, my wife and I quickly realized we weren’t up for hours of standing. So, we splurged on VIP tickets, and boy, was it worth it! From the comfortable seating to the impeccable sound quality, it was a night to remember. But let’s steer back to real estate – that’s why you’re here, right?

    First up, let’s talk about the hot properties in West Rouge. Mayberly Street seems to be a hit among buyers, with a charming three-bedroom, three-washroom house selling for $980,000 within just one day of listing. With hardwood floors, a deck, and a cozy wood-burning fireplace, it’s no wonder this property flew off the market.

    Moving on to Island Road, a property with an intriguing story caught my attention. Initially listed at $999,000, this three-bedroom, two-bathroom house had a bumpy journey, staying on the market for 40 days. However, things took an unexpected turn when multiple offers poured in, eventually selling for $1,150,000. Despite needing some TLC, its pool and spacious yard added value, making it a worthy investment.

    Now, let’s shift our focus to Blue Anchor Trail, where a newly built home stood out. Boasting modern design and ample space, this property left a lasting impression. Although not everyone’s cup of tea, its industrial farmhouse aesthetic appealed to many. With 40 photos on the MLS, there was no shortage of views for interested buyers.

    But the real showstopper was on East Avenue, a three-bedroom, four-bathroom gem listed at $1.149 million. With 10 offers and a final sale price of $1.33 million, this property was a steal. Despite lacking exterior photos, its interior charm shone through, from hardwood floors to elegant finishes. With its proximity to schools and the GO station, it was an ideal find for any buyer.

    Moving on to Centennial, let’s start with the first property on the list: Colonel Danforth. This house garnered a lot of attention and excitement upon its initial release due to its architectural uniqueness and stunning design. However, practical considerations soon became apparent upon closer inspection.

    While the house boasted a beautiful blend of stone, wood, and steel elements, its layout posed challenges for most people. The finishes, such as the multicolored cabinets, were not to everyone’s taste, deviating from the more conventional one-color cabinets found in typical homes.

    From an architectural standpoint, the house was impressive, almost resembling a hard loft alternative. Priced at $1.399 million, it eventually sold for $1.32 million after 40 days on the market. However, its unique features, including skylights and a glass floor, weren’t practical for everyone.

    The property lacked adequate closet space, especially for couples sharing the space. Additionally, the division walls in the bedrooms didn’t provide sufficient sound barrier or privacy, making it less suitable for families.

    Despite its drawbacks, the house had a unique appeal, especially with its elevated deck overlooking the ravine. However, the lack of landscaping and proximity to Lawrence Avenue added to its challenges. Nevertheless, its architectural uniqueness earned it a feature in Dwell magazine, showcasing its innovative design.

    Transitioning to more traditional homes, we come to a property on Dona Street. Priced at $999,000 and eventually selling for $1,000,050, this detached brick house offered three bedrooms and three bathrooms. While the staging was commendable, some aspects of furniture placement could have been improved.

    Moving through the main floor, the living-dining combination featured laminate floors laid diagonally, adding visual interest. However, better staging could have showcased the space more effectively, especially in the kitchen area.

    The kitchen, although updated, lacked certain modern conveniences like task lighting and featured a busy backsplash. The basement, while finished, provided additional living space but didn’t significantly impact the overall value.

    Despite its drawbacks, the property offered good value for its price, especially considering its location and proximity to amenities.

    Next on Satchel Boulevard, an older-style home was listed for $1,000,150 and sold for $1,000,160 in just three days. With four bedrooms, four bathrooms, and a spacious backyard with an inground pool, this property offered considerable appeal.

    The interior featured classic wood finishes, although painting the doors could be challenging. The bathrooms were updated to a basic standard, and while the basement wasn’t luxuriously finished, it added to the overall livable space.

    The backyard, with its large size and pool, was a significant selling point. However, the proximity to neighboring properties and potential noise from Lawrence Avenue posed drawbacks.

    Moving to townhouses, the Cardo townhouse on Centennial was listed for $799,000 and sold for $775,000 after 15 days. This beautifully renovated property featured unique herringbone floors and an open-concept layout, making it highly desirable despite its townhouse status.

    The modern kitchen boasted quartz countertops, stainless steel appliances, and elegant finishes. With three bedrooms, three bathrooms, and a finished basement, it offered excellent value for its price, especially with its usable backyard and included maintenance fees.

    On Lawrence Avenue, a freehold townhouse listed at $899,000 eventually sold for $845,000 after 31 days. While the property offered good value, its presentation left much to be desired. Lived-in conditions and minor issues like missing cabinet knobs detracted from its appeal, despite its two-car garage and low-maintenance yard.

    Transitioning to Atchinson Avenue, a stunning three-bedroom home listed at $1 million sold for $1.195 million after 11 days. Virtually staged, the property showcased modern features like a two-way fireplace and updated kitchen. While it lacked some details like a chandelier, it offered excellent value with its finished basement and proximity to amenities.

    On Stagecoach Drive, another townhouse listed at $798,000 sold for $857,000 in 14 days. While presenting well, some aspects like a mini-fridge in a bedroom could have been improved. However, with three bedrooms, three bathrooms, and a two-car garage, it offered good value, especially considering its location near the GO station.

    Lastly, a property on And Dona Street offered three bedrooms and four bathrooms, selling for $1,000,040 after four days. Despite some minor flaws like a crowded backyard, it provided good value with its brick exterior, laminate floors, and updated bathrooms.

    In summary, the February 2024 market overview for West Rouge and Centennial showed promising sales with homes often selling above asking price and within a relatively short timeframe. With the spring market approaching, now is an opportune time for buyers and sellers to prepare for upcoming opportunities.

  • Can a Thermostat Blow Up a Deal?

    This post was originally written for my newsletter, May 2019.

    How have you been? Did you hibernate through that deep freeze of winter? If you’re like me, you still haven’t seen your shadow; too gloomy outside to feel like it’s spring.

    As I write this, Maria is asking telling me to turn the furnace on. I refuse to put it on this late in May simply on principle!

    Bah. It will get nice at some point and we’ll all moan and complain about how hot it is and we’ll quickly forget about how bad the winter was.

    Speaking of thermostats, I had to kick a couple of people out of this little community of ours because of a thermostat. 

    Seriously.

    Allow me to regale you with this doozy of a story.

    If you’ve bought a house with me before, you had a protection clause in your offer about chattels and fixtures (appliances and certain other items physically attached to a house) that they would be in working order on closing.

    “The Seller represents and warrants that the chattels and major mechanical systems included in this Agreement of Purchase and Sale will be in good working order and free from all liens and encumbrances on completion.”

    What is good working order? A fridge keeps food cold, a stove warms up food, a furnace that warms the house, etc. 

    To the story at hand:

    I was with (former) clients in a condo that hadn’t been updated since it was built in the late seventies, exactly what they were looking for, when I noticed that the thermostat was one of the old kinds with a mercury trigger.

    Of course, I had to tell the husband a story about how I played with the mercury from a broken thermometer when I was a kid and poured it down the drain once I was bored of it.

    He was taking measurements and wasn’t really listening and, simply said “Oh, OK.” to my story. 

    I need to shut up sometimes.

    The wife, who had been on her phone the entire time (she was like this when they purchased their home at Yonge and St. Clair), looked up from whatever she was thumbing through and became fascinated with the relic fastened to the wall.

    She decided that the temperature should be cranked up to 35 degrees, twisting the dial well past where it could go.

    The dial reset itself back to where it was. That’s what happens with this type of thermostat when it gets turned past its highest possible temperature point.

    Being the HVAC technician that she was, she says, “it’s obviously broken”.

    Awesome! She unknowingly gave me an idea for a closing gift; a Nest thermostat.

    They decided they wanted to buy it, no need for an inspection, much like the first house I helped them buy because, like that house, it wasn’t liveable in its current state.

    Also, being pre-approved for a mortgage, they didn’t need a financing condition.

    Additionally, the status certificate was available to review ahead of the offer day, so I had my preferred lawyer look it over and let us know if any concerns with it should prevent them from making an offer.

    None were found.

    It was one of the best status certificates he had seen in a long while, he explained to us.

    I spoke with the listing agent, and got the preferred closing date, along with a range of what the seller’s expectations were on price.

    After reviewing the comparable sold condos, we decided that $7,000 more than the asking price was what they were willing to pay.

    They won the offer competing against 7 other offers.

    Let’s skip to the juicy part because everything was going swimmingly with the deal until:

    A few days before the closing date, I get a nasty text from the wife,

    “You mislead us. You didn’t tell us that the seller is responsible to make repairs to the condo based on the clause in the offer.”

    What-the-what?

    One of the associates from the law firm (that I recommended) advised that the clause I had in the offer required the seller to repair or replace any non-functioning fixtures.

    To note, all of the appliances worked, even if they were avocado colour, and the thermostat too.

    I was completely confused so I called her to explain to her that the lawyer was wrong (more than likely she misunderstood what the lawyer said).

    I have never been so demeaned in my life. She tore a strip off of one side of me and then the other.

    If there is one thing I know, is when someone is irrational and completely irate, there is no point in arguing. Just listen.

    There were threats of suing me for negligence (I forgot to tell you that both she and the husband are lawyers…), and that I had better have insurance in place and something about going after personal assets.

    She demanded that we revisit the condo at 7:30 in the morning so she could make a list of the required repairs.

    I tried to make her understand that she was wrong about what she expected the outcome to be based on the clause, but she knew best and wouldn’t listen.

    I should have stood strong and refused to take her, but I was scared shitless because I had never in all my time since 2004 had anything like this happen to me.

    But I gave in to her demands and scheduled an emergency appointment through the agent who, thankfully, was understanding.

    I didn’t sleep that night.

    That morning, I arrived at 7:10 to make sure I was there before her so as not to give her any further fuel to complain about if I was late.

    She arrived with her mom at 7:45.

    Pompous you-know-what for showing up late.

    Anyway, it was the most awkward elevator ride ever. The 2 minutes to get to the 7th floor felt like 2 hours.

    I opened the door to let them in and do whatever it was they were going to do.

    While they walked around making notes about the cabinet doors in the kitchen being squeaky, rust stains in the bathroom sink, curtain rods that needed to be resecured, everything that was in plain sight when we visited the place and none of which had anything to do with the clause they were so concerned with, I went into the kitchen and video recorded the solid ice cubes that were in the freezer, the refrigerator (luckily) had a thermometer, so I videoed that and made sure to wait until the compressor kicked on too for audio proof as well.

    I then went to the stove and recorded all four burners heating up, watching them change from black to red, and did the same with the oven element.

    From there, I video-recorded the toilet flushing, both the sink and the shower properly draining, and then went back to the kitchen to do the same with that sink.

    There wasn’t a washer and dryer since the building had laundry facilities.

    All the appliances were tested during our first visit with the husband in tow too.

    I heard her say to her mom to tell me they were done. I guess she was no longer speaking to me.

    “Is there anything else you’d like to look at while we’re here?”, I asked her.

    No. Curt and sharp.

    “Great, you can leave and I’ll lock up behind you.” I didn’t want to ride the elevator with her again.

    “Why, so you can fix things behind my back and cover your mistake?”

    This couldn’t be real, but I didn’t want any more drama. I was exhausted, constipated, and had cotton mouth. I wanted this done and over with, and I was starting to feel confident that she had nothing she could use against me.

    Another tense elevator ride. She actually walked with me to make sure I put the key back in the lockbox.

    I guess she didn’t think I was smart enough to re-open the lockbox after she left and go and fix things behind her back.

    But I digress.

    I called my errors and omissions insurance provider right at 9:00, and explained everything about how they were either confused by what their lawyer said about the clause, or the lawyer was clueless regarding what the clause meant. They asked me to send the offer so they could look it over.

    Around noon I got a call from the errors and omissions legal advisor and he said, “If the appliances are working, there are no grounds for anything. They either received poor advice from their lawyer or, they’re trying to strong-arm you into paying for their renovations”.

    I was instructed not to speak with them anymore and to tell them any further communication should be done in writing, and through their lawyer to my errors and omissions insurance provider.

    So when she called the next day, I didn’t answer and texted her exactly that.

    That final text was followed up with this email:

    Mike

    I have tried to call you to discuss a resolution to the matter discussed on our earlier call.  I have also sent an SMS messages requesting that you discuss this matter with me. You are refusing to speak with me or engage in a productive way in order to resolve this dispute.

    We are extremely disappointed in your behavior and lack of professionalism. We have given you a tremendous amount of work and are frankly shocked at how you have treated us, particularly given the tens of thousands of dollars in the commissions which you have made from our family’s property transactions.

    This is my last attempt to reach out to you to resolve this matter.  If I don’t receive a response from you within 24 hours, providing your availability for a call to discuss a settlement, I will assume that you are not interested in resolving this dispute outside of a formal dispute resolution forum. Please be assured that I will be escalating this matter.

    I didn’t reply, and I didn’t hear back from them or the errors and ommissions until a couple of months later saying that they will put the file on hold as they haven’t heard from their lawyer at all.

    Maybe cooler heads prevailed? Maybe they were told they were wrong, or misunderstood or misinterpreted what the lawyer meant.

    Who knows, maybe they will bring legal action against me in the future.

    All of this stems from a measly, ancient, thermostat and a misunderstanding of a legal clause designed to protect them.

  • Real Estate Recap: December 2023 – Wrapping Up the Year with West Rouge and Centennial Sales

    Hey there, amazing people! Can you believe we’re already in 2024? Time flies, doesn’t it? I hope you had an incredible holiday season, filled with joy and laughter, no matter what or how you celebrated. Now, let’s jump right into the nitty-gritty of what went down in West Rouge and Centennial for real estate in December 2023. But first, let’s set the mood with the legendary sounds of Rush – because why not make it even better with some Canadian vibes?

    Musical Guest: Rush
    Before we dive into the real estate market recap, let’s take a moment to appreciate the musical genius of Rush. With an awesome mix of Neil Peart’s unmatched drumming, Alex Lifeson’s underrated guitar skills, and Geddy Lee’s iconic voice and bass playing, they’re a Canadian treasure. My personal favorite? “Subdivisions” – a deep and cool track that resonates on so many levels.

    Alright, let’s get into the real deal now.

    West Rouge and Centennial Real Estate Recap – December 2023

    1. Winter Gardens Trail
    • Type: Detached House
    • Specs: 3 beds, 4 baths, 41×153 ft lot
    • Listed: $1.229 million
    • Sold: $1.185 million (96% of list)
    • Days on Market: 11
    1. East Avenue
    • Type: Condo Townhouse
    • Specs: 3 beds, 3 baths, $443 monthly fee
    • Listed: $750,000
    • Sold: $725,000 (97% of list)
    • Days on Market: 28
    1. Freeport Drive
    • Type: Semi-Detached
    • Specs: 3 beds, 3 baths, 30×79 ft lot
    • Listed: $840,000
    • Sold: $846,000 (100% of list)
    • Days on Market: 13
    1. Sunny Slope
    • Type: Ranch Bungalow
    • Specs: 2 beds, 2 baths, 60×130 ft lot
    • Listed: $1.075 million
    • Sold: $999,999 (93% of list)
    • Days on Market: 13 (extended listing)
    1. Lawrence Avenue East
    • Type: Condo Townhouse
    • Specs: 3 beds, 2 baths
    • Listed: $749,800
    • Sold: $730,000 (97% of list)
    • Days on Market: 16
    1. Homecrest Trail
    • Type: Detached House
    • Specs: 3 beds, 3 baths, 69×109 ft lot
    • Listed: $1.275 million
    • Sold: $1.18 million (93% of list)
    • Days on Market: 57

    Recap:

    • Average Original List Price: $1,019,133
    • Average Corrected List Price: $986,467
    • Average Sold Price: $944,333
    • Average Percentage of List Price: 96%
    • Average Days on Market: 23

    Final Thoughts:
    December is traditionally a slower month in real estate, with the holiday hustle and bustle. If you’re not in a rush to sell, it might be wise to wait for a more active season. The market stats don’t lie, and they tell us that pricing strategy matters – so pay attention!

    And there you have it, folks! Six houses that found new owners in December 2023. Thanks for hanging out with me again. If you’ve got questions or want your house evaluated, don’t hesitate to reach out. I’ll catch you in January with a bit of a tan – Mexico, here I come! Until then, take care, and see you in the next update.

    As always, if you enjoyed the content, hit that like button, subscribe for more, and share the love. Until next time, stay awesome! ????✈️????

  • Weekly Recap of West Rouge Real Estate: December 11-17, 2023

    Greetings, and Welcome Back!

    Hello, and thanks for joining me once again for our weekly dive into the vibrant world of West Rouge real estate. This time, I’ve got a special treat for you – you’ll actually get to see my face as we explore the happenings in the region, including Centennial. This week, spanning from December 11th to the 17th of 2023, promises some interesting insights into the local real estate scene. So, let’s jump right in and take a closer look!

    1. New Listings: A Holiday Hiatus

    First things first – new listings. Well, it seems that this week, the real estate market in West Rouge decided to take a breather, much like the Pittsburgh Penguins on a Saturday game – a total goose egg, nada, zero new listings. It appears folks are already in holiday mode, diverting their attention away from house hunting. Lesson learned: listing your property this close to the holidays might not be the best idea.

    2. Price Changes: Spotlight on 155 Colonel Danforth Trail

    Now, onto the price changes. Our spotlight today is on 155 Colonel Danforth Trail, a detached gem with a new price tag of $1.399 million, up from $1.199 million. With three bedrooms and two bathrooms, this uniquely designed house caught my eye, despite potentially being held back by its Lawrence-facing backyard. A property worth considering, in my opinion.

    3. Houses Off the Market: 142 Mayberley Crescent

    Next up, let’s discuss the homes that have been taken off the market. One notable mention is 142 Mayberley Crescent, a detached original beauty originally priced at $899,000 but removed from the market at $1.045 million after 79 days. Three bedrooms, three washrooms, and, unfortunately, a single car garage asking for over $1 million. A bit of a stretch, wouldn’t you say?

    4. Sold Conditional Houses: A Quiet Week

    This week, the sold conditional houses segment is remarkably quiet – zero activity to report. However, we do have a successful sale to discuss. 119 Sunny Slope, a detached property initially priced at $1.075 million, sold for 93% of its asking price. A two-bedroom, two-bathroom dwelling, it spent 13 days on the market before finding its new owner.

    5. Still On the Market: Current Snapshot

    Concluding our weekly recap, let’s take a quick glance at the properties still on the market. 21 Hills and 10 Centennial 11 in West Rouge remain available for purchase, with prices ranging from $630,000 to $3.179 million. The average days on the market have increased to 47.

    In Conclusion: A Festive Farewell

    And that wraps up our West Rouge real estate roundup for this week. I’ll catch you again – well, maybe next week. However, considering the timeline, it might be Boxing Day rather than Christmas Day. Regardless, I wish you a Merry Christmas, happy holidays, and season’s greetings. Now, go back to whatever you were doing – play outside, enjoy the festivities, and I’ll see you later. Bye for now!

  • The Week That Was in West Rouge Real Estate – December 4 – 10, 2023

    Greetings, friends and neighbours.

    Let’s delve into the events of the past week in West Rouge concerning real estate from December 4th to the 10th, 2023. Here’s a breakdown of what we’ll cover:

    Firstly, we’ll explore the new listings that have recently hit the market. Following that, we’ll discuss any noteworthy price changes. Then, we’ll move on to properties sold conditionally, those that were withdrawn from the market, and the always intriguing sold properties. Lastly, we’ll review what’s currently available on the market.

    Let’s get started!

    New Listings:
    Our first spotlight is on 22 Bluebird Place, a semi-detached property listed at $1,099,903 with four bedrooms and four washrooms.

    Price Changes:
    Turning our attention to price adjustments, 24 Clems Drive (or Cleans Drive or Clemez Drive) is a detached home now priced at $2.39 million, down from its initial listing of $2.475 million. This property boasts five bedrooms and four washrooms. Additionally, 600 Lawrence Avenue East No. 32, a condo townhouse, has a new price of $749,800, reduced from $795,800, featuring three bedrooms and two washrooms.

    Off the Market:
    Properties removed from the market include 93 Trelenock Avenue, initially listed at $999,900 but withdrawn at $959,000 after 56 days. Also, 22 Mildock Drive, originally priced at $1.333 million, remained unchanged upon withdrawal after 16 days.

    Sold Conditionally:
    Revisiting 600 Lawrence Avenue East No. 32, this condo townhouse, listed at $749,800, is conditionally sold after 13 days on the market. Additionally, 51 East Avenue, another condo townhouse with a list price of $750,000, secured an offer after 34 days on the market.

    Successfully Sold:
    Moving to sold properties, 60 Freeport Drive, a semi-detached home listed at $840,000, sold for 101% of its list price within 13 days. Similarly, 25 Winter Gardens Trail, a detached property listed at $1.229 million, achieved a 96% sale of its list price in 11 days (44 days considering price fluctuations).

    Currently Available:
    As we wrap up, there are 23 houses for sale in the Tanner and Centennial neighborhoods, with 13 in West Rouge. The lowest-priced property is a condo townhouse at $638,000, while the highest is listed at $3,079,000. The average days on the market for available properties is 41.

  • Houses That Sold in West Rouge and Centennial: November 2023

    Hello, West Rouge and Centennial neighbours!

    It’s your friendly neighbourhood real estate enthusiast, Mike Lind, back with another monthly update on the houses that sold in West Rouge and Centennial in November 2023. I hope this finds you well amidst the hustle and bustle of the approaching holiday season.

    First things first, if you’re wondering why I’m in a different setting, well, I’ve reclaimed my basement! Yes, the familiar territory where it all began. My office, now illuminated by a lovely window, serves as the hub for all things real estate. And yes, I’ve got my CDs, my life’s soundtrack, as the backdrop – a mess, but my mess.

    Speaking of the holidays, are you ready for Christmas? Because I’m not. The mere thought of braving the malls at this time of year sends shivers down my spine. But enough about my holiday shopping dread; let’s dive into the real estate gems of West Rouge and Centennial for November 2023.

    But before we get into the nitty-gritty, a quick shoutout to Miles Goodwin, the late guitarist and lead singer of April Wine, who sadly joined the 27 Club. A true rock legend, may he rest in peace.

    Now, let’s rewind to November 2022 for a quick comparison. West Rouge saw six homes change hands, with an average list price of $1,339,433 and an average selling price of $1,294,833. Fast forward to November 2023, and we witnessed seven sales, boasting an average list price of $1,019,414 and an impressive average selling price of $1,000,032,143. Homes are flying off the market in just 15 days, fetching 102% of the asking price – a solid performance.

    For Centennial in November 2022, six homes sold with an average list price of $1,339,433 and a selling price of $1,294,833. Now, in November 2023, six homes again changed hands, but with a slight dip in prices. The average list price was $1,237,800, and homes sold for an average of $1,272,000, taking just 14 days to seal the deal at 103% of the list price.

    Year over year, West Rouge experienced a price decrease of 9.1%, with just under two and a half months of inventory on the market. Centennial, on the other hand, saw a 10.46% dip in prices, boasting nearly two months of inventory.

    Now, onto the stars of the show – the houses that captured hearts and wallets in November 2023.

    West Rouge Highlights:

    1. Calderstone Crescent: A four-bedroom, four-washroom beauty on an 82×129-foot lot. Listed at $1.249 million, it sold for $1.21 million (97% of the list price) in just 17 days.
    2. Silver Gardens: A four-bedroom, three-washroom home on a 45×105-foot lot. Listed at $1.45 million, it sold for $1.365 million (94% of the asking price) in 37 days.
    3. Beaverbrook Court: A three-bedroom gem with a basement suite on a 50×120-foot lot. Listed at $799,900, it fetched $900,000 (113% of the list price) in just seven days.
    4. Rouge Hills Drive: A four-bedroom, two-washroom haven on a 50×193-foot lot. Listed at $1,000,088, it sold for $1,170,000 (108% of the asking price) in 10 days.
    5. Bryce Moore Drive: A two-bedroom plus basement suite on a 60×125-foot lot. Listed at $1,000,050, it sold for $1,000,010 (96% of the list price) in 14 days.

    Centennial Standouts:

    1. Freeport Drive: A three-bedroom, three-washroom gem on a 30×79-foot lot. Listed at $899,000, it sold for $880,000 (98% of the list price) in 27 days.
    2. Darcy McGee Crescent: A four-bedroom, three-washroom stunner on a 55×110-foot lot. Listed at $1.199 million, it sold for $1.14 million (95% of the list price) in five days.
    3. Lake Ridge Drive: A three-bedroom plus basement suite with four washrooms on a 25×100-foot lot. Listed at $1,199,900, it sold for $1,215,000 (101% of the asking price) in 13 days.
    4. Meadowvale Road: A three-bedroom plus two-basement-suite charmer on a 60×126-foot lot. Listed at $949,900, it sold for $1,000,050 (111% of the list price) in six days.
    5. Juanita Road: A four-bedroom plus two-basement-suite beauty on a 55×110-foot lot. Listed at $1.45 million, it sold for $1.63 million (112% of the list price) in 11 days.
    6. Lawson Road: A massive four-bedroom plus basement suite with five washrooms on a 55×238-foot lot. Listed at $1.73 million, it sold for $1.717 million (99% of the asking price) in 20 days.

    And there you have it – the rundown of the houses that made waves in West Rouge and Centennial for November 2023. I hope this information proves valuable, and if you’re interested in a complimentary annual review of your home’s value, feel free to reach out. Wishing you all a fantastic holiday season, and I’ll catch you in early January for the 2024 forecast!

  • Centennial Scarborough the Complete Neighbourhood Guide

    Explore this Centennial Scarborough Neighbourhood Guide to learn more about the residents, schools, parks and recreation facilities, homes, and other aspects of this community.

    About Centennial Scarborough

    Centennial Scarborough is a neighbourhood that consistently attracts residents from various age groups, especially families with teenagers, individuals in their 40s, 50s, and 60s. Originally known as the small lakefront town of Port Union in the 19th century, it became a part of the Township of Pickering until 1974. Following World War II, it transformed into a suburban bedroom community. The area boasts mature trees, parks, and waterfront, making it an affluent neighbourhood with a high rate of home ownership.

    People & Families in Centennial Scarborough

    In this community, 56% of households consist of families with children, while 26% are households with childless couples, and 11% are occupied by individuals living alone. The residents of Centennial Scarborough represent a rich diversity of 105 ethnic backgrounds, with 37% being first-generation immigrants and 31% being second-generation immigrants.

    Neighbourhood Households

    4,120

    Neighbourhood Population

    12,615

    Household Size

    • 1 person – 10%
    • 2 persons – 31%
    • 3 persons – 20%
    • 4 persons – 23%
    • 5 or more persons – 13%

    Household Types

    • One-person households – 11%
    • Non-family households – 1%
    • Families with children – 56%
    • Couples without children – 26%
    • Multiple families in household – 4%

    Children Per Family

    • 1 child – 26%
    • 2 children – 30%
    • 3 or more children – 10%

    Broad Age Ranges

    • 0 to 14 years – 16%
    • 15 to 64 years – 65%
    • 65 years and over – 18%

    Most Common Ethnic Origins

    • English – 19%
    • Canadian – 18%
    • Scottish – 14%
    • Irish – 14%
    • East Indian – 10%

    Age of Primary Household Maintainer

    • 15 to 24 years – 0%
    • 25 to 34 years – 4%
    • 35 to 44 years – 15%
    • 45 to 54 years – 25%
    • 55 to 64 years – 22%
    • 65 to 74 years – 19%
    • 75 to 84 years – 9%
    • 85 years and over – 1%

    Specific Age Groups

    • 0 to 4 years – 4%
    • 5 to 9 years – 5%
    • 10 to 14 years – 5%
    • 15 to 19 years – 7%
    • 20 to 29 years – 11%
    • 30 to 39 years – 9%
    • 40 to 49 years – 12%
    • 50 to 59 years – 15%
    • 60 to 69 years – 12%
    • over 70 years – 9%

    Centennial Scarborough Schools

    Centennial Scarborough boasts excellent elementary schools and specialized secondary programs. The neighbourhood is served by a total of 8 public schools and 4 Catholic schools. Among the educational offerings, local schools provide special programs such as International Baccalaureate and Advanced Placement.

    Public Schools

    8

    Catholic Schools

    4

    Public

    Catholic

    Having Fun in Centennial Scarborough

    Discovering enjoyment is a breeze with numerous parks and recreational facilities in Centennial Scarborough. The parks in this area offer playgrounds for children and sports facilities. With a total of 9 parks and 38 recreational facilities, the average number of facilities per park is 4.

    Number of Parks

    9

    Number of Recreation Facilities

    38

    Recreation Facilities in Neighbourhood Parks

    • Playgrounds – 6
    • Pool – 1
    • Tennis Courts – 3
    • Basketball Courts – 2
    • Ball Diamonds – 3
    • Sports Fields – 10
    • Track – 1
    • Community Centre – 1
    • Splash Pads – 2
    • Skateboard Park – 1
    • Trails – 4
    • Arts/Performance Facilities – 2
    • Fitness/Weight Room – 1
    • Gym – 1

    Getting Around in Centennial Scarborough

    This neighbourhood boasts 81 transit stops, including the Rouge Hill GO rail station. The majority of residents in this area rely on personal vehicles for commuting, with most choosing to commute within the city.

    Commute Destination for Residents

    • Commute within the city – 82%
    • Commute to another city – 18%

    Commute Types

    • Vehicle – 70%
    • Transit – 26%
    • Walk/bike – 1%

    Commute Times of Residents

    • 15 to 29 minutes – 24%
    • 30 to 44 minutes – 23%
    • 45 to 59 minutes – 14%
    • 60 minutes and over – 26%
    • Less than 15 minutes – 10%

    Work and Education in Centennial Scarborough

    Within this community, 45% of adult residents have obtained a bachelor’s degree or higher, while 75% have pursued some form of postsecondary education. The most prevalent industry among residents is finance and insurance.

    Household Income

    • Under $30,000 – 2%
    • $30,000 to $39,999 – 3%
    • $40,000 to $49,999 – 4%
    • $50,000 to $59,999 – 4%
    • $60,000 to $69,999 – 5%
    • $70,000 to $79,999 – 5%
    • $80,000 to $89,999 – 6%
    • $90,000 to $99,999 – 6%
    • $100,000 to $124,999 – 13%
    • $125,000 to $149,999 – 12%
    • $150,000 to $199,999 – 15%
    • $200,000 and over – 16%

    Most Common Occupations (Top 3)

    • Business, finance and administration occupations – 20%
    • Sales and service occupations – 20%
    • Occupations in education, law and social, community and government services – 14%

    Most Common Industries (Top 3)

    • Finance and insurance – 11%
    • Educational services – 11%
    • Professional, scientific and technical services – 10%

    Employment

    • Employed – 58% of people over age 15 are employed
    • Unemployed – 4% are unemployed
    • Not in the labour force – 36% are retired, students, homemakers, etc.

    Centennial Scarborough Homes

    Centennial Scarborough primarily features detached homes, and the neighbourhood maintains a stable population. About 21% of households have relocated within the last 5 years, and 6% have moved within the past year. The housing landscape includes a blend of older and newer residences, with a predominant trend of owner occupancy.

    Home Types

    • Single-detached house – 82%
    • Semi-detached house – 3%
    • Duplex – 3%
    • Row house – 8%
    • Low-rise apartment/condo – 0%
    • High-rise apartment/condo – 0%

    Condominium Status

    • Condominium – 2%
    • Not condominium – 97%

    Number of Bedrooms in Homes

    • 1 bedroom – 0%
    • 2 bedrooms – 4%
    • 3 bedrooms – 37%
    • No bedrooms – 0%
    • 4 or more bedrooms – 59%

    Period of Home Construction

    • 1961 to 1980 – 46%
    • 1981 to 1990 – 14%
    • 1991 to 2000 – 21%
    • 2001 to 2005 – 4%
    • 2006 to 2010 – 5%
    • 2011 to 2016 – 1%
    • 1960 or before – 6%

    Renters & Owners

    • Owner – 94%
    • Renter – 6%

    If you are thinking about selling your Centennial home, or are thinking about buying in the neighbourhood, let’s have a conversation and see if we might be a good fit to work together.

    You can easily get in touch with me by clicking here.

  • How To Buy a Condo For the First Time

    Are you thinking about buying a condo?

    Condo living can be fantastic, but it may not be for everyone. In this post, I’ll throughly explain how to buy a condo for the first time. 

    Points to consider before you buy a condo for the first time

    You want to live in an urban setting

    • Most condos are located in cities or close-in suburbs.

    You don’t need your car

    • Limited parking and the need to walk to your unit with groceries may be factors.

    You’re not handy

    • Condo management takes care of exterior maintenance, so you won’t have to worry about it.

    You loathe yard work

    • Condos typically don’t require yard maintenance; any green space is maintained by the association.

    You love being around people

    • Condo living offers frequent interactions with neighbors and community events.

    You like getting in your extra steps

    • Taking out the trash and retrieving mail may involve a bit of walking.

    You don’t want to be house-poor

    • Condos are generally less expensive than single-family homes, though there are additional fees.

    You don’t mind rules

    • Condo associations have rules, addressing issues like fees, parking, pets, and remodeling.

    You travel a lot

    • Condos are a good option for frequent travelers who don’t want to worry about home maintenance.

    You don’t have pets

    • Some condos allow pets, but there may be restrictions on breeds and sizes.

    The Bottom Line:

    Condo living can be a great option, especially for those who want a more affordable housing choice, appreciate community living, and prefer not to deal with extensive maintenance tasks.

    Types of Condo Buildings

    When you begin searching for your ideal condo, you’ll discover various types of condo buildings available. Here are the main ones you’ll find in our area:

    High-rise:

    • Tall buildings with at least seven stories (or more, depending on local definitions).
    • Always equipped with an elevator.

    Mid-rise:

    • Multi-story buildings, typically between four and seven stories, with an elevator.

    Condo townhouses:

    • Multi-level structures in rows, sharing common walls.

    Detached-condos:

    • Standalone units that do not share any walls.

    Choosing the right type may seem overwhelming, but the info below can help you weigh the pros and cons of each:

    • If you have a baby, a walk-up may not be ideal.
    • If you walk your dog frequently, you might want to avoid high-rises.
    • For privacy lovers, a townhouse or detached condo could be preferable.

    Once you’ve narrowed down your preferred type, consider the location within the building or community:

    • Do you want to be near the elevator?
    • Is walking up to your unit from the lobby important?
    • Do you prefer proximity to amenities like the pool or fitness center?
    • How far are you willing to walk to retrieve your mail?

    The Bottom Line

    Before diving into your search and buy a condo for the first time, educate yourself on the various types and their suitability for your lifestyle. With an experienced Realtor by your side, you’ll confidently find the perfect condo and community.

    Different Types of Condos

    Understanding the differences between condos, townhouses, and co-ops is crucial when house hunting, as it can impact certian things such as home renovations and updates, rules, monthly fees, and ownership structure.

    Condos

    • Owners own the interior walls of their unit.
    • Common spaces are collectively owned by all unit owners.
    • Monthly fees cover property maintenance.
    • Unit size influences fees and voting power.
    • Customization is possible, but check condo documents for restrictions.

    Townhouses

    • Owners own the home and land (fee simple ownership).
    • Responsible for all exterior maintenance, including the roof.
    • Some may be part of an HOA with aesthetic rules.
    • Lower HOA fees compared to condos, paid monthly, quarterly, or yearly.

    Co-Ops

    • Ownership is like buying shares in a corporation.
    • The co-op corporation owns the building and land.
    • Buyers purchase shares and are assigned the right to occupy a specific unit.
    • Fees are higher, covering property taxes, maintenance, and the underlying mortgage.
    • Strict rules on renting and pets; higher down payments often required.
    • Co-op boards vet potential owners, involving information submission and interviews.
    • Prices may be lower than condos, but they can be harder to sell.
    • Some lenders may not offer loans for co-ops; approval is needed.

    In summary, condos offer shared ownership of common spaces, townhouses provide more independence with exterior responsibilities, and co-ops involve buying shares in a corporation with strict rules.

    If you have questions about buying any of these property types, feel free to reach out to me. I’m more than happy and answer your questions and assist you in navigating the condo search and buying process.

    Moving From a Condo to a House

    Considering the move from condo living to a single-family home? Here’s what you need to know, broken down into the upsides and downsides:

    The Upsides

    Privacy

    • No more shared walls or elevator small talk.

    More Space

    • Enjoy separation between bedrooms and living areas.

    More Storage

    • Attics, basements, sheds, and more for additional storage.

    More Time

    • Skip waiting for elevators and walking down halls.

    No More Condo Fees

    • While homeownership has costs, say goodbye to monthly condo fees.

    No More Rules

    • Freedom from condo restrictions – get a bigger dog, play music late.

    Decorate as You Please

    • Personalize your space without restrictions.

    A Yard

    • Plant a garden or landscape as you wish, and no mandatory walks for your pet.

    Your Mail Comes to You

    • No more trips to the mailroom; your mail comes directly to your home.

    The Downsides

    Hefty Initial Expenses

    • Furnishing new rooms, buying tools like lawnmowers, shovels, etc.

    Higher Maintenance Costs

    • Exterior maintenance, like roof and windows, becomes your responsibility.

    Higher Utility Costs

    • More square footage means higher heating and cooling bills, and new bills for water, cable, trash, gym membership, etc.

    More Maintenance

    • Lawn care, snow shoveling, gutter cleaning, and more responsibilities.

    Remembering the Trash

    • No more convenient chutes; you need to take trash cans to the curb.

    The Bottom Line

    Moving from a condo to a house comes with pros and cons. Assess when you’re ready for more space, privacy, and additional responsibilities. The decision depends on your preferences and readiness for the changes homeownership brings.

    Want to talk it through? Let me know! I’m always happy to chat about your real estate goals and what makes the most sense for you.

    Get in touch here.

    Tips to Help You Buy a Great Condo

    Thinking about buying a condo in Toronto or the Greater Toronto Area? Here are some easy-to-understand tips to help you navigate the process and buy a condo for the first time:

    Taking out the Trash

    • Know the trash disposal process in advance—whether there’s a chute, basement location, or an outside area. Small detail, big impact.

    The Washer and Dryer

    • Check if the unit has a washer/dryer. If not, find out about common laundry options. Having one in the unit can impact resale value.

    Location of the Unit

    • Consider proximity to the trash chute, laundry, and elevator. Walking distance within the building can vary, so think about your preferences.

    Outdoor Space

    • Check for patios, balconies, or common outdoor areas. Be aware of any usage restrictions or if you need outdoor space for your lifestyle.

    Close Quarters

    • Condo living means close neighbors. Assess if you’re comfortable with shared walls and hallways. Spend time near the building to gauge the community vibe.

    The Fine Print

    • Review condo documents within three days of being under contract. Look for rules, regulations, finances, and what’s included. Consider deal-breakers upfront.

    The Rules and Regs

    • Check condo documents for pet policies, renting restrictions, and other rules. Decide if they align with your preferences.

    The Condo Fee

    • Brace for condo fees; they vary. Consider building history, fee increases, and included utilities. Higher fees might indicate good reserve funds.

    The Amenities

    • Decide on must-have amenities. Avoid paying for services you won’t use. Older or smaller buildings may have limited amenities.

    The Condo Management

    • Review the annual budget, reserve fund, and check if the building is professionally managed. Review recent association meeting minutes for insights.

    Your Responsibilities

    • Clarify your responsibility for the unit—know where it begins. This is crucial for addressing leaks or damages promptly.

    The Bottom Line

    Condo living can be fantastic, but understanding fees, amenities, rules, and responsibilities is crucial. Follow the tips above to make an informed decision and enjoy your condo life.

    Buying a Condo as an Investment

    When considering buying an investment condo, there are crucial factors to keep in mind. Beyond just rental income, you need to consider financing requirements, rental restrictions, and management issues. To make an informed decision, take a closer look at the special considerations and expenses involved in this process.

    Special Considerations

    Condo Building, Association, and Neighborhood

    • Evaluate the strength of condo management and finances.
    • Review condo association rules, especially the presence of a “rental cap.”
    • Research the neighborhood’s demand for rentals, local employment opportunities, and competition in the rental market.

    Financing

    • Most lenders require a 20-35 percent down payment for investment property loans.
    • Lender approval of the condo association is essential.
    • Lenders typically avoid financing condos facing litigation.

    Long-Term Investment

    • Considering the above, plan on holding the condo for at least five years.

    Calculating Return

    Expenses

    • Regular expenses: taxes, insurance, association fees, and possibly a mortgage payment.
    • Intermittent expenses: repairs, special assessments, vacancies, property management fees, and advertising costs.

    Income

    • Monthly rent is the primary source of return.
    • Consider annual appreciation, noting that condos appreciate more slowly than single-family homes.

    Yield Calculation

    • Divide the potential annual rent by the purchase price to calculate yield.
    • Example: $2,500 rent x 11 months / $225,000 purchase price = 12 percent yield.

    One Percent Rule

    • If the expected monthly rent is at least one percent of the purchase price, it’s considered a wise investment.
    • Example: A $300,000 condo should rent for $3,000 per month.

    The Bottom Line

    Buying an investment condo can be financially sound with proper research and realistic expectations. Scrutinize the condo association, rules, and the local rental market before making any investment decisions.

    Making an Offer on a Condo

    Making an offer on a condo involves unique considerations compared to a house. For a smoother process, here are four essential things to know:

    Status Certificate and Condominium Documents

    • Once your offer to buy a condo is accepted, you have ten days to receive the status certificate and condominium documents.
    • These documents, provided by the condo association, contain vital information about the condo’s formation, operation, rules, and finances.
    • The review period allows you to identify dealbreakers and back out if necessary.

    Review Period

    • During the review, focus on current bylaws, rules, payment schedules, any unpaid assessments, litigation records, and the association’s annual report.
    • The condional period (two to five calendar days) lets you cancel the contract if you find anything in the status certificate that would make you not want to buy the condo.

    Insurance Issues

    • Lenders and lawyers will recommend that you take title insurance. Some lawyers will just include it in their fees.
    • Ensure no outstanding condo fees and confirm adequate building insurance.
    • Provide proof of content insurance for your interior possessions since the condo building insurance does not cover your personal belongings.

    Condo Fees

    • Condo fees cover insurance, maintenance, and often include various services like landscaping, water, and trash removal.
    • Understand what amenities and utilities are covered to adjust your budget accordingly.

    Special Assessments – Buyer Beware

    • Special assessments are fees for unexpected repairs or improvements not in the operating budget.
    • Owners collectively bear the cost, so be cautious about potential steep assessments for shared space issues, especially in small condo buildings.

    The Bottom Line

    Condo offers differ from single-family homes due to complex rules and shared spaces. Thoroughly read all documentation from the association and do your homework to make an informed decision.

    The Status Certificate and Condominium Documents

    What to Look For

    Once you’ve signed a contract for a condo, you have three days to review the condominium documents, known as the status certificate. If there’s anything you find unacceptable during this period, you can void the contract, and your deposit is refunded.

    While reviewing the entire packet may seem overwhelming, focus on three key areas for a thorough understanding.

    The Rules

    • Carefully examine the condo association’s rules and restrictions.
    • Check for allowances or restrictions on pets, grills, rental policies, and alterations to your unit.
    • Ensure you can live with all the rules, and watch out for potential dealbreakers.

    The Budget/Reserve Fund

    • Scrutinize this section to understand the association’s financial health.
    • Assess if there’s sufficient savings in the reserve fund for major repairs like roads, roofs, and elevators.
    • Inadequate funds may lead to special assessments, an additional cost beyond your monthly condo fees.

    The Minutes

    • Read the association’s meeting minutes for valuable insights into the community.
    • Look for ongoing discussions on repairs, complaints, or other relevant matters.

    The Bottom Line

    Contact the condo association for clarification on any concerns or questions.

    Keep in mind that condo staff may be available only during business hours.

    Choose an experienced Realtor to guide you through the process, ensuring you stay on track and providing negotiation options if issues arise during the review period.

    Condo Moving Made Easy: Tips for a Smooth Transition

    Moving into a condo requires careful planning due to unique challenges like parking restrictions and additional fees. To streamline the process, follow these top tips for moving into a condo.

    First Things First

    1. Contact the condo manager early to determine your move-in date and time.
    2. Note the allotted hours for moves, as exceeding them may require a larger moving crew.
    3. Inquire about booking elevators specifically designated for moves and check if there’s a loading dock.
    4. If parking is limited, ask about reserving a spot for the moving truck.

    Expect Some Costs

    1. Be prepared for a refundable “damage deposit” to cover potential building damage during the move.
    2. Some condos charge a non-refundable “moving fee” for elevator padding and on-site staff during the move.
    3. Additional fees may apply for reprogramming your buzzer, updating building directories, and mailbox information.

    Clean Up

    1. Remove moving debris promptly from common areas, following building guidelines.
    2. Flatten boxes, secure them with twine, and dispose of them in designated bins.

    Utilities

    1. Confirm which utilities you must set up and which the building manages.
    2. Inquire about meter readings if necessary.
    3. Arrange for cable, internet, and telephone installation close to your move-in date.
    4. Reprogram your buzzer early to allow access for utility workers and services.

    The Bottom Line

    Moving into a condo involves extra considerations, so start by connecting with the condo manager to gather essential information. Relay this information to your mover to ensure a smooth transition into your new home.

    Final Thoughts on How To Buy a Condo

    Condo living is always either a lifestyle choice or a budget choice. As houses continue to be more and more expensive, “regular” homeownership is out of reach for many home buyers, especiall first time home buyes.

    The tips and advice I’ve thoroughly layed out for you in this long and detailed post will help you see red flags when buying a condo, and is based on everything I’ve learned by helping many people buy great condos since I began my real estate career in 2004.

    Yes, I’m old.

  • How to Rent in Toronto: the Ultimate Guide for Tenants

    “How about we meet for lunch at Allen’s?” my colleague and soon-to-be client asked me.

    Him and his partner wanted to know how to rent in Toronto as their living situation changed, 2 kids and 2 cats in the past 8 years together, plus, they lived in the East End of Toronto, but their businesses were located in the West End.

    Normally, I don’t work with tenants. It’s simply something I chose for my business model, but I’ve known him for a very long time, and I was honoured that he would think of me to help him and his family move into a place that would better suit their lifestyle.

    In between getting our drinks and ordering our meals, they began asking questions. The first one showed me they’ve been doing their homework by asking me:

    How to rent in Toronto and is it Easy to Find a Place?

    “No, it’s not.” I told them point blank. “But, if you get your ducks in a row, like paperwork, and other things ready, it will help make it that much easier for you.”

    After going over what they would need to have ready to make it easier to rent a house in Toronto, I could see they were a little taken aback by how many things they would need to prepare.

    “Don’t worry,” I assured them, “I’ll send this all to you in an email.”

    Below is the actual the follow-up email I sent them (minus names) on how to rent in Toronto.

    Here is what you’ll need to have ready in order to be able to offer to rent a place:

    1. A completed rental application (attached). Fill it in listing everyone who will live in the house, yes, even the kids. The more thorough it is filled in, the better it looks to a landlord. DO NOT provide your social insurance number and make no mention of pets.

    Your references are very important, and so are your landlords to vouch about how great you were as a tenant.

    I’ve attached a landlord letter template for you as some landlords can take forever or write shitty terrible letters that don’t help you.

    1. Please send me a copy of your ID’s. It can be either a driver’s licence or passport. Health cards are not valid IDs. Nothing is needed for the kids.
    2. Letter of employment. I know, being self-employed makes that impossible. (Her), please ask HR, or someone who has the capacity at the brewery to prepare one for you. It should include how long you’ve worked there, what your salary is, or your hourly wage plus the amount of hours worked per week.
    3. 2 most recent pay stubs. Keep these handy. You will need to submit them when you are ready to offer for a house.
    4. 2 most recent bank statements. Since you’re both self-employed, a landlord may want to see whether or not you do actually make enough money to pay rent every month.
    5. Credit score: you can get them from either your bank, Transunion or Equifax.
    6. Pint of blood – after all of the personal info you’re about to hand over, why not sweeten the deal? (Please don’t actually do this)

    Having all of this ready to go will put you in a good position to submit a strong offer on any home and even in a rushed condition if needed for a kick-ass home.

    She asked me if a personal letter would help secure a place. I told her it couldn’t hurt, but in the end, landlords want the best tenant possible and money and good references would be the ultimate determining factor.

    How to find a house rental in Toronto?

    This was another question they had on how to rent in Toronto.

    I told them about the best toronto rental sites that I know of, namely:

    “If you find a place you like on any of these sites, besides realtor.ca, I probably won’t be able to help you because these are sites where landlords have posted and they gnerally don’t cooperate with agents.”

    Lunch came, so the conversation went back to talking about kids, work/life balance and what we do in our downtime.

    But for you, dear reader, I wanted to expand on the important items in the email I sent them.

    What do you need for a rental application in Toronto?

    I’ll talk to this from a real estate agent point of view as renting a place without an agent will be different.

    Rental Application Form

    The rental application provided by agents is the OREA or TRREB Form 410. I always suggest filling the form out as thoroughly as possible.

    For one, it looks better than one only partially filled in. What impression are you giving a landlord, who could potentially go bankrupt from an asshole tenant, by only having most blank spaces on the form?

    Please, whatever you fill in, DO NOT give your SIN (social insurance number).

    A scumbag, scamming landlord could use this to steal your identity.

    Also, you may have noticed that I told my clients not to mention their cats.

    Under provincial law, a landlord cannot use pets as a reason not to rent to you. In reality, they are likely going to hold pets against you because the fear of damage caused by pets is a real concern for a lot of landlords.

    Plus, there may be religious beliefs against some pets.

    The sneaky thing to do, and I hate to put it that way, is to simply bring your pets in unannounced.

    Once you’ve taken possession, there is absolutely nothing to stop you from getting a pet, and you cannot be evicted for having pets.

    You can get evicted for extensive damage caused by pets, but that another post for another day.

    Your ID

    Landlords want to know you are who you say you are.

    Believe me, landlords only read and listen to horror stories about tenants, never about the good ones, so they will want to match up the name on the rental application with valid ID.

    Forms of valid ID are driver’s licence, passports, Canadian citizenship card, and Canadian permanent resident card.

    Health cards are not valid forms of ID.

    Letter of employment

    Another way that helps with how to rent in Toronto is providing a letter of employment allows a landlord to check and decide if you are able, financially, to pay the rent.

    Joking aside, rents are expensive in Toronto as there are more people looking for places to rent than there are places available.

    A rule of thumb that some landlords use is the 30% ratio.

    They will only rent to you if the rent price is max 30% of your take home pay. There’s nothing you can do if they use this against you.

    Move on.

    There are always other places.

    Your 2 Most Recent Pay Stubs

    Just like above, a landlord will want to confirm what your take home pay actually is.

    Your 2 Most Recent Bank Statements

    This is more for self-employed people because they don’t have a company providing them with a pay cheque.

    It can seem like an invasion of privacy, but again, landlords are the ones at risk to lose their asset, and this is another layer of due diligence that they are picking a good tenant and not a career squatter.

    Even if you have steady employment, some landlords will want to see that the money going into your account is from where you say you work based on your employment letter and pay stubs.

    Credit Score

    Your credit score can be a deciding factor between a landlord renting to you or not.

    Let me put it this way, a credit core riddled with missed and late payments could be a precursor to a landlord having to constantly chase a tenant for rent.

    Remember, the landlord likely has a mortgage on the house or condo, and late rent from you could mean a missed mortgage payment for them.

    I know, I know, they took a risk buying a place to rent out, but you also signed a legal contract saying you would pay rent on time, every time.

    Other Forms You May Come Across When Finding How to Rent in Toronto

    Ontario Standard Lease Agreement

    The Ontario Standard lease is mandatory for landlords and tenants to sign.

    The goal of the document is to allow tenants to know exactly what their rights are and what a landlord and a tenant can and cannot do.

    This form came about as some asshole landlords would use a tenants ignorance against them and do scumbag things like raise rents higher than what is allowed, evict tenants illegally, shut off water if rent isn’t paid, and other nefarious things.

    OREA Form 400 – Agreement to Lease

    If you are working with an agent to rent in Toronto, or just want to know more on how to rent in Toronto, on top of the Ontario Standard Lease Agreement, you will sign and attach OREA Form 400 as a schedule to your lease agreement.

    It should detail additional terms that are expected of a tenant and landlord as long as it doesn’t go against the Tenant and Landlord Act.

    More so though, it forms the contract between the real estate brokerages and details the payment structure for the agents involved.

    About Rent Deposits

    Can landlords in Ontario collect both the first and last month’s rent?

    Yes, they can. When renting a place in Ontario, landlords can ask for both the first and last month’s rent upfront. However, it’s important to note that the first month’s rent should be applied to cover the initial month of your lease. These payments are not technically considered deposits, as the landlord can only use the money for the last month’s rent, not for damages.

    What happens when you give notice to end your tenancy?

    Once you decide to end your lease, you only need to pay the second-to-last month’s rent, as the last month’s rent is already covered by the initial payment.

    Are security deposits allowed in Ontario?

    No, security deposits are not legal in Ontario. The only acceptable deposits are the rent deposit, which equals one month’s rent and is only used for the final month, and a key deposit if applicable.

    Yes, key deposits are legal as long as they meet two conditions: they must be a reasonable amount to cover key replacement costs, and they must be refundable. Landlords must return the key deposit in full when tenants return their keys. If keys are not returned, the deposit can be used to cover the cost of replacing them.

    Can landlords collect damage deposits in Ontario?

    No, landlords in Ontario cannot legally collect damage deposits at the start of a lease. Rent deposits and key deposits are the only allowed forms of deposits. If damages occur during the tenancy, the landlord must go through the Landlord and Tenant Board to seek payment.

    What is the maximum rent deposit in Ontario?

    According to the Residential Tenancies Act in Ontario, landlords can request a rent deposit of one full month’s rent or the rent cost for one rental period, whichever is less.

    Is there an interest rate on rent deposits in Ontario?

    Yes, landlords in Ontario must pay interest on rent deposits every 12 months if collected. The interest rate is the same as the yearly rent increase guideline set by the province for each calendar year. If landlords fail to pay interest, tenants can reduce the rent deposit to match the current rent or withhold the interest amount from a future rent payment.

    Are rent deposits refundable in Ontario?

    Yes, rent deposits must either be returned to tenants in full or used to pay for the final month’s rent. Landlords cannot withhold any part of the deposit for purposes like covering damages or cleaning.

    Final Tips on How to Rent in Toronto

    It’s not easy figuring out to rent in Toronto, so if you find a place that you really love, but are competing against several other potential tenants, sweeten the deal:

    • by offering to pay more onthly
    • by offering to pay additional months of rent upfront
    • provide a letter about who you are, what you do, why you want to rent the place and how well you promise to take of it

    There you have it, everything I know and learned being in the real estate industry since 2004 nd how to rent in Toronto

    If you are looking for a house or a condo to rent in Toronto or in the GTA, get in touch with me here, as I have several awesome and reputable agents that I can put you in touch with that will make sure your best interests are at hand, and I know they will take good care to help you find the best house or condo that you’ll absolutely love living in.

    Awesome. Now you know everything I know about how to rent in Toronto.

    That’s a wrap.