Saturday, January 21, 2017

Should you do something with the floors?

Creating a WOW factor in a home goes along way to providing a faster sale for the seller and normally a higher selling price.  Flooring (or at least good looking flooring) can be one of the things to create the wow factor. 

Expense or great investment?

Hardwood without a doubt is what most home buyers are looking for, so this is an area to give careful consideration to if planning for a future sale. Installing hardwood or even some of the great looking laminate flooring on the market, is often what flippers do to get the highest return for their investment. Home owners should also consider this when it comes time to sell.

Older homes often have rough looking hardwood or hardwood floors covered by carpet.  Buyers often look for this opportunity of hidden value in a home, but sellers should also recognize the hidden value they have by sometimes restoring the old hardwood floors before selling.

The bonus of refinishing hardwood 

It is amazing how many times I've been with buyers and we end up lifting floor registers to take a peak at what's under the carpet.  When hardwood is spotted under the carpet the word from a buyer's mouth is often, WOW!  Take the time to have a professional look at your tired looking or hidden hardwood floors and get a quote on refinishing.  Refinishing your old hardwood floors might be one of the best investment to make.

Be an informed seller.

Flooring can be expensive, but it should also be looked at as an investment with a potential huge return.  I would be happy to discuss a listing price for your home with or without refinishing your old hardwood floors or perhaps what installing new flooring could do to change the listing and potential selling price. 
Be an informed seller.  Talk is cheap (in fact it's free) so GetJack and  let's talk!


Tuesday, January 10, 2017

Sellers need to think like buyers

When it comes time to sell your home it's important as the seller to think like the buyer. 

Stumbling blocks at inspection time.

If you were the buyer wouldn't you want to know the furnace is in good working order,  the windows are good and the roof doesn't need work?  These are the areas that quite often become the stumbling block once a home inspection has been completed. 

If you are going to receive top dollar for your home then the big ticket items must also be a reflection of the price you expect to receive for your home. 

One thing to do that won't cost you a fortune.

There are many things that can be done that won't cost an arm and a leg, but if taken care of can help in the sale of your home.   One question sellers often ask is; "should I give the place a fresh coat of paint?"  The answer to that question is most often, yes. 

If you as the seller are wondering about the need of painting the place, there is a strong possibility that the buyer is going to see the need even more than you do.  Even though a buyer might turn around and repaint rooms as soon as they move in, there is still a huge benefit for the seller to add a fresh coat of paint, in neutral tones, to the main rooms of the home.

A fresh coat of paint will assist in making the home look like it has been maintained and it will look cleaner.  Both are important reasons that confirm that investing in a little paint is a good thing to get the price a seller is hoping for.

There are many other simple things you can do to make your home stand out from other homes on the market and I will post more tips in the coming weeks.

Free home analysis

I would be happy to discuss with you some specific suggestions for your home with a free home analysis.  GetJack for more details or with any questions.

Friday, January 6, 2017

2017 rent increase guideline 1.5%


Ontario 2017 Rent Increase Guideline  


The 2017 rent increase guideline is 1.5 per cent and applies to most private residential rental accommodation covered by the Residential Tenancies Act. The guideline is the most a landlord can increase the rent without applying to the LTB.
The guideline is not applicable to:
  • Vacant residential units
  • Residential units first occupied on or after November 1, 1991
  • Social housing units
  • Nursing homes 
  • Commercial property
There is no limit to how much a landlord can increase the rent each year for these units.
Timing of rent increases: In most cases, the rent for a unit can be increased when 12 months have passed since a tenant either first moved in or since the tenant’s last rent increase. A tenant must be given proper written notice of a rent increase at least 90 days before the rent increase is to take effect.
Calculation of the guideline: The rent increase guideline is calculated under the Residential Tenancies Act  and is based on the Ontario Consumer Price Index (CPI), which is calculated monthly by Statistics Canada. The 2017 guideline is calculated by averaging the percentage increase in the Ontario Consumer Price Index during the previous 12 months from June 2015 to May 2016. By law, the rent increase guideline cannot be more than 2.5 per cent, even if the CPI increase is higher.
Sample rent increase calculation: The monthly rent of an apartment is $1,000 beginning June 1, 2016. With proper written 90 days’ notice to the tenant, the landlord could increase the rent 12 months later on June 1, 2017. 
This is the calculation for the rent increase:
  • The guideline for 2017 is 1.5 %
  • A rent increase of 1.5 % on $1,000 = $15.00
  • Therefore, the new rent on June 1, 2017 could be up to $1,015.00 ($1,000 + $15.00)
Above guideline increases: Landlords can apply to the LTB for an increase above the guideline for any of the following reasons:
  1. Their municipal taxes or utilities costs have increased by more than the guideline plus 50 per cent. (For example, if the guideline is 1.5 %, the costs must have increased by more than 2.25 %)
  2. They incurred operating costs related to security services.
  3. They incurred eligible capital expenditures.
The guideline and rent deposits: Every year, the landlord must pay the tenant interest on the rent deposit. The interest rate is the same as the rent increase guideline. For more information on rent deposits, see the Guide to the Residential Tenancies Act.  

Previous Rent Increase Guidelines

Guideline (%)

Contact the Landlord and Tenant Board

Call us:
Toll free: 1-888-332-3234
Toronto area: 416-645-8080
TTY: Bell Relay Service at 1-800-268-9242

Visit our website at
Visit your local LTB office. For office locations visit our website.

June 17, 2016