Blog – Page 635 of 945 – Mike Pfefferman

01

Feb

Around The Home

The Mortgage Helper: How to Find the Perfect Tenant for Your Basement Suite

The Mortgage Helper: How to Find the Perfect Tenant for Your Basement Suite Do you have an empty basement or separated suite in your home? If you have a suite sitting empty, you are missing out on collecting some extra monthly income in the form of rent. Let’s take a look at a quick four-step process that will help you find the perfect tenant to rent out your basement suite.

Step 1: Play By The Rules

Is this your first time renting out a home or suite to a tenant? If so, you will want to do a bit of research first. Read up on Fair Housing Rules and other regulations as these will inform you of your responsibilities as a landlord. Keep in mind that you cannot discriminate in any way when it comes to race, religion, gender, family status or disability. Anyone who applies must be given a fair chance.

Step 2: Be Specific In Your Advertising

When you place a rental listing, be as specific as possible in what you are looking for in a tenant. If you are a single, quiet person, you may want someone similar as you will be compatible. Conversely, if you are a young couple, you may clash with a retired senior or someone older. Be as specific as possible but remember that you cannot be discriminatory.

Step 3: Meet Potential Tenants In Person

Be sure to take the time to meet with every short-listed applicant in person. If you are not comfortable with having so many strangers over to your home, consider meeting at a local coffee shop. An in-person meeting will allow you to visually assess the person and determine if your personalities are a fit for living in the same home.

Step 4: Don’t Skip The Checks

Finally, don’t take any shortcuts when performing background, credit and other checks. Ask your tenant for at least one or two references that you can call to verify their rental history. Investing in a credit check will help to assess their risk of missing monthly rent payments. And if necessary, a criminal records check can let you know if they have been in trouble with the law.

As long as you are well-prepared and diligent, finding a suitable tenant for your basement suite can be a painless process. To learn more about mortgage products are perfect for rentals, contact us today. Our mortgage team will be happy to help you!

31

Jan

By support

Around The Home

Spring Is Coming: Get a Jump on Spring Cleaning and Breathe New Life into Your Tired Spaces

Spring Is Coming: Get a Jump on Spring Cleaning and Breathe New Life into Your Tired Spaces Spring is almost here – and with it, the need to clean out the clutter and freshen up your home. Let’s explore a few tips that will help you to get a jump on your spring cleaning so that you can get outside and enjoy the nice weather later.

Need It? No? It’s Got To Go!

Do you consider yourself a bit of a ‘hoarder’? Is there furniture, appliances and other items in your home that have been collecting dust since the ’90s? If so, it is time to minimalize your lifestyle. A great rule of thumb is the one in bold above – if you don’t need it, it’s time to get rid of it. Consider listing anything you don’t need up for sale on a local resale marketplace as you may find an interested buyer willing to give your old stuff a new home. Once you have the clutter kicked out, the actual cleaning can begin.

Your Garage Is Not A Storage Locker

If your garage is so full of miscellaneous junk that you can barely get your car door open, it’s time for a thorough cleaning. Again, the first mission is to get all of the stuff you don’t need either thrown out or otherwise disposed of.

Letting go of your old possessions can be tough, but you will be amazed at how much space you have once it’s all gone. And that space can be put to better use – once it’s cleaned.

Consider Hiring Help For The Deep Clean

Finally, don’t be afraid to enlist professional help if you are feeling overwhelmed. Having a couple of cleaners come into your home for a few hours is a cost-effective way to speed up the spring cleaning process. Note that it’s best to have cleaners join you after the clutter has been removed, so they aren’t wasting their time trying to move old furniture and other items you are going to dispose of anyway.

Unless you absolutely love washing walls and cleaning out closets, spring cleaning is rarely fun. However, it is necessary to ensure that your home stays in tip-top condition. If you have decided that you are in need of more space, or are looking to downsize your home, contact us today. Our friendly team of mortgage professionals are happy to show you some financing options that will perfectly suit your needs.

30

Jan

By support

Home Buyer Tips

Curious About Homeowners’ Association (HOA) Fees? Here’s What You Need to Know

Curious About Homeowners' Association (HOA) Fees? Here's What You Need to Know If you are thinking of buying a condominium or a home that is part of a planned community, you have likely come across the term “homeowners’ association” or HOA. In short, the HOA is a coalition of local homeowners who have banded together to manage the needs of the local community. Let’s explore the concept of the homeowners’ association, why they charge fees and what you can expect from your HOA if you buy a home that is part of one.

HOA Fees Are Meant To Make Things Easier

HOA fees are meant to make your life easier. Common sense dictates that all homeowners won’t be able to commit to investing some of their time in community upkeep. So the HOA charges a monthly fee to everyone to cover the costs of keeping everything in order. Of course, some HOAs can make mistakes or foolish investments that don’t benefit all equally. But most are well-intended and do positive work.

What Do HOA Fees Cover?

Your HOA fees will be used to pay for needs that benefit all homeowners’ in the community. If you live in a building, this will be everything from elevator maintenance to keeping the doors in good order. If you live in a townhouse complex or planned community, this includes landscaping, gardening, road maintenance and more. As long as your HOA leaders are doing their job, they will use fees to maintain and improve the community for everyone.

Some Pros And Cons Of HOA Fees

The main benefit of paying HOA fees is that you are offloading your share of the responsibility for building or community upkeep. In essence, you are trading a monthly payment so that you don’t have to vacuum the common areas, change the light bulbs or worry about repairing the gate when it breaks. The main downside to paying HOA fees is that you only have a single vote as to how they are spent and you may disagree with other homeowners about the HOA’s priorities.

All things considered, whether or not you have a favorable view of your HOA generally comes down to you. If you are the type that likes to share their opinion and is willing to commit the time to improve your local community, you may want to join your HOA. However, if you are less interested in having someone spend your money, you might disagree with their approach. Whatever the case, when you are ready to buy your next home, contact our professional mortgage team. We’re happy to help you find the right financing for your new home – HOA or not.