Real Estate

Rental Income

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  • Aug 29th, 2017 9:18 pm
Deal Addict
Feb 9, 2013
1912 posts
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Mississauga
qaz393 wrote: My brothers has townhouses free hold. They don't really need to pay more than 5000 a year. The mortgages works out to be the cost of rent. The renter pays their own utility even though my parents has been screwed by other tenants not paying their bills. Capital gain like that is smarter. Do u have seperate entrance from basement renter?
You mean capital gain purely on property value, and not from rental pay? I've heard my estate agent mention that, but never really understood why.
Yup, I have a separate entrance for the basement.
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Jan 27, 2004
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ONTARIO
There could be a logical explanation for it.

MAybe he works out? Extra showers...
Maybe he stinks? Extra showers...
Maybe he goes on dates or tries to court women at drinking establishments? Extra shower...
Maybe he sweats a lot? Or maybe he gets sweaty at work?


My Landlord HATES me... Because I use a space heater and a dehumidifier. I live in a basement apartment... It dips down to 16 degrees in the winter! Even in the summer... Its still very chilly. I mean surely... The landlord can't expect me to live like an animal with full clothing and jackets inside the house... But they actually did expect that. "No need to use space heater. House is already heated!!!".
I show them pictures of a thermometer displaying 16 degrees... Which is illegal by the way. They must maintain at least 21 degrees. I mean... I don't mind , I just have to use a space heater...

But really the landlord should factor this in if they're renting a basement apartment. It'll be damp and cold... The tenant will probably use space heaters and dehumidifier. They should probably think about the heating situation because legally they're suppose to maintain 21 degrees... If i wanted to be a bitch about it... I could have went to the LTB and they would automatically lose and waste time.

But anyways... I would suggest maybe raising the rent according to the prescribed rates (to keep it legal), in order to help you cover these expenses.
Banned
Aug 10, 2017
198 posts
120 upvotes
UrbanPoet wrote: There could be a logical explanation for it.

MAybe he works out? Extra showers...
Maybe he stinks? Extra showers...
Maybe he goes on dates or tries to court women at drinking establishments? Extra shower...
Maybe he sweats a lot? Or maybe he gets sweaty at work?


My Landlord HATES me... Because I use a space heater and a dehumidifier. I live in a basement apartment... It dips down to 16 degrees in the winter! Even in the summer... Its still very chilly. I mean surely... The landlord can't expect me to live like an animal with full clothing and jackets inside the house... But they actually did expect that. "No need to use space heater. House is already heated!!!".
I show them pictures of a thermometer displaying 16 degrees... Which is illegal by the way. They must maintain at least 21 degrees. I mean... I don't mind , I just have to use a space heater...

But really the landlord should factor this in if they're renting a basement apartment. It'll be damp and cold... The tenant will probably use space heaters and dehumidifier. They should probably think about the heating situation because legally they're suppose to maintain 21 degrees... If i wanted to be a bitch about it... I could have went to the LTB and they would automatically lose and waste time.

But anyways... I would suggest maybe raising the rent according to the prescribed rates (to keep it legal), in order to help you cover these expenses.
16 is frigid. Does the landlord live upstairs?
Deal Guru
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Dec 2, 2008
12459 posts
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GTA
jdu0ng wrote: You mean capital gain purely on property value, and not from rental pay? I've heard my estate agent mention that, but never really understood why.
Yup, I have a separate entrance for the basement.
The rent covers everything for us almost. Maybe we put out 5000 a year. So tenant pays mortgage for us pretty much. We buy before market jumped up. Agents want u to sell cause that's how they will make money........
Banned
Jul 8, 2017
628 posts
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NA
I would avoid any unnecessary confrontation, you probably wouldn't want to end up like this landlord in Edmonton.

An injured, grieving mother shook her head when she heard two former tenants are charged with setting the fire that killed her baby son and left her with smoke inhalation injuries.

http://edmontonjournal.com/news/crime/c ... son-friday
Deal Addict
Sep 13, 2016
3606 posts
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Mississauga
jdu0ng wrote: I rent out my basement, I was out of town for two months, tenant use on average in the two months: $60 water + $90 electricity + $60 gas = $210/month (utilities alone). Is this excessive?
Certainly excessive for one person but not sure what you can do about it. We are averaging 30$ for water, 60$ electricity, and 30$ for gas this summer. For a 2 person household.
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Dec 27, 2009
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Victoria, BC
jdu0ng wrote: Ya, likely will let it go. Who knows if I bring it up, he'd use even more out of spite... sucks being a landlord, my profit margin is not that much, and if there's any damage/repairs, it may not make u for it.
He's not using that much. Average being around 350L. If it was a couple down there guaranteed they'd be using more.
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Dec 27, 2009
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IndyBeak wrote: Certainly excessive for one person but not sure what you can do about it. We are averaging 30$ for water, 60$ electricity, and 30$ for gas this summer. For a 2 person household.
You must not use much. I'm sure just my own usage is greater than 450L per day. I love my baths, and I don't subscribe to the "if it's yellow let it mellow" either. That said, I'm not a renter so I pay my own water bills (but I would not use less if I were a renter).
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Mar 23, 2008
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Edmonton
Chickinvic wrote: You must not use much. I'm sure just my own usage is greater than 450L per day. I love my baths, and I don't subscribe to the "if it's yellow let it mellow" either. That said, I'm not a renter so I pay my own water bills (but I would not use less if I were a renter).
I just checked 3 of our utility bills, for my GF and I (whole house).
January was 11,000l = 354l/day = 177l each
June was 20,000l = 666l/day = 333l each
July was 36,000l (ep!) = 1161l/day = 580l each (I'm blaming watering the lawn on this one)

I think the dollar value went from $30 to about $85, but that's based on Edmonton rates.

C
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Dec 27, 2009
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Victoria, BC
CNeufeld wrote: I just checked 3 of our utility bills, for my GF and I (whole house).
January was 11,000l = 354l/day = 177l each
June was 20,000l = 666l/day = 333l each
July was 36,000l (ep!) = 1161l/day = 580l each (I'm blaming watering the lawn on this one)

I think the dollar value went from $30 to about $85, but that's based on Edmonton rates.

C
Yes, when we watered the lawn (our yard is tiny) last year the bills were through the roof. Ottawa had a pretty wet summer so we haven't watered as much this season. Next month we are moving to a house with a 1 acre yard. Not sure if we'll water or not...
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Mar 23, 2008
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Chickinvic wrote: Yes, when we watered the lawn (our yard is tiny) last year the bills were through the roof. Ottawa had a pretty wet summer so we haven't watered as much this season. Next month we are moving to a house with a 1 acre yard. Not sure if we'll water or not...
Our yard is about 8500 ft^2, so it's big for a city lot, but tiny compared to your upcoming spread. Good luck with that! :)

And I didn't water as much as I would have if it was more convenient (i.e. automated system). But it didn't feel like a moist year here.

C
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Jan 27, 2004
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cdndeal wrote: 16 is frigid. Does the landlord live upstairs?
A relative of family lives upstairs. But im sure he has a stake in it. He does everything!

Upstairs is a rooming house... lots of students. & terrible cooks! Always something burning and fire drtector going off... lol.

But i guess this is the price to pay... it was a steal of a deAl about 40% less than market value in a high demand area near downtown toronto...

Kinda funny everyone thinks im a cool hipster bc of the location in an up & coming trendt neighbourhood. Nah... i grew up here so its the same ish to me and injust need somewhere big enough... and 2 bedrooms is plenty :D

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