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.  

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

Year	Guideline (%)
2017	1.5
2016	2.0
2015	1.6
2014	0.8
2013	2.5

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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 sjto.ca/ltb
Visit your local LTB office. For office locations visit our website.

 

 

 

June 17, 2016

Tips for a real tree this Christmas

It's no surprise that if you are going to put up a real Christmas tree in your home, you'll need to plan on providing it with lots of water.  When a Christmas tree is cut, more than half its weight is water and once it's cut the most important family chore becomes filling the proper stand with water to keep it as fresh as possible until it's time to take it to the curb.

The National Christmas Tree Association provides these tips to care for your real tree this Christmas. 

• As a general rule, Christmas tree stands should provide 1 quart of water per inch of stem diameter.
• Use a stand that fits your tree. Avoid whittling the sides of the trunk down to fit a stand. The outer layers of wood are the most efficient in taking up water and should not be removed.
• Make a fresh cut to remove about a 1/2-inch thick disk of wood from the base of the trunk before putting the tree in the stand. Make the cut perpendicular to the stem axis. Don’t cut the trunk at an angle, or into a v-shape, which makes it far more difficult to hold the tree in the stand and also reduces the amount of water available to the tree.
• Drilling a hole in the base of the trunk does NOT improve water uptake.
• Once home, place the tree in water as soon as possible. Most species can go 6 to 8 hours after cutting the trunk and still take up water. Don’t bruise the cut surface or get it dirty. If needed, trees can be temporarily stored for several days in a cool location. Place the freshly cut trunk in a bucket that is kept full of water.
• The temperature of the water used to fill the stand is not important and does not affect water uptake.
• Check the stand daily to make sure that the level of water does not go below the base of the tree.
• Keep trees away from major sources of heat (fireplaces, heaters, heat vents, direct sunlight).
• Use of lights that produce low heat, such as miniature lights, will reduce drying of the tree.
• Always inspect light sets prior to placing them on the tree. If worn, replace with a new set.
• Do not overload electrical circuits.
• Always turn off the tree lights when leaving the house or when going to bed.
• Monitor the tree for freshness. After Christmas or if the tree is very dry, remove it from the house as soon as possible.
• Never burn any part of a Christmas tree in a wood stove or fireplace.

For many families cutting their own tree is a tradition and there are several tree farms in the area that provide the opportunity to get the freshest tree possible and experience a great time with the family in selecting and cutting that perfect tree.  Below are just a couple places to cut your own tree.

Orillia Fish and Game Conservation Club 510 Bass Lake Sideroad. E. (Between Lines 8 and 10)

Gillespies U Cut - 3807 12th Line, North of Horseshoe Valley Road

Huronia Landscaping, Rainbow Valley Rd. E. Just north of Barrie. Follow signs off of Hwy 27.

Explaining streets, avenues, boulevards, lanes & more.

As you drive around you’ll see streets, avenues, roads, lanes, courts, parkways, and more. There is a reason for those names being used and it's more than just that they sound better with whatever other name that has been attached to them.  

Here's by definition what all those names mean. 

• Road (Rd.): Can be anything that connects two points. The most basic of the naming conventions.

• Way: A small side street off a road.

• Street (St.): A public way that has buildings on both sides of it. They run perpendicular to avenues.

• Avenue (Ave.): Also a public way that has buildings or trees on either side of it. They run perpendicular to streets.

• Boulevard (Blvd.): A very wide city street that has trees and vegetation on both sides of it. There’s also usually a median in the middle of boulevards.

• Lane (Ln.): A narrow road often found in a rural area. Basically, the opposite of a boulevard.

• Drive (Dr.): A long, winding road that has its route shaped by its environment.  Often found near lakes, hills and mountains. 

• Terrace (Ter.): A street that follows the top of a slope.

• Place (Pl.): A road or street that has no throughway—or leads to a dead end.

• Court (Ct.): A road or street that ends in a circle or loop.

• Concession (Conc):  Usually one of sixteen divisions of a township, each division being 10 sq. mi. (26 sq. km) in area and containing thirty-two 200-acre lots.

If you have a question concerning your real estate needs (now or down the road) please connect with me here.

Labour costs for renovations and repairs

OntarioContractors.com is a nonbiased/nonaffiliated database directory of contractors, builders, construction suppliers all related to renovation, contracting, construction, building or the home building industry.

You can get a good idea of labour costs in the Province of Ontario associated with this comprehensive list of small to large renovation and construction projects.

I provide this link only as an information source to assist you in budgeting for work to be completed. It provides you with a general overview of what to expect when you get to the point of reaching out to local professionals, which I highly recommend.

Key Points To Consider

1) It's always best to get several quotes.

2) Cheapest isn't always your best option.  

3) Ask for references.

OntarioContractors.com  is designed to give you an estimate on a wide range of labour costs. Labour costs can vary according to region, but a low to high range is provided on the list found here.  

Drop me a line with your real estate questions.

First time buyers get a bigger tax break

To help Ontarians buy their first home, the Province of Ontario will double the maximum refund for first-time homebuyers from $2,000 to $4,000, effective January 1, 2017.  (Ontario Ministry of Finance-Land Transfer Tax)

Currently, no Land Transfer Tax is payable on the first $227,500 of the value of consideration for a first home. The value of consideration for residential properties is typically the purchase price of the property and is the amount used for calculating LTT payable.

The Ontario Real Estate Association had asked the government to expand the land-transfer tax rebate program for first-time buyers as one way to help more people accomplish their dream of getting into the housing market.
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Contact me for more information.