The Kormendy Trott Team
The Kormendy Trott Team
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What You NEED to Know About Managing Properties (Basement, Condos, Townhouses, and More!) | EP299
In today's episode, Steve Bruman and Ariel Kormendy dive into property management, discussing the ins and outs for tenants and landlords. From key concerns to best practices, we've got a wealth of information to share. Watch Episode 299 now so you don't miss out!
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0:24 - Intro
2:18 - The Birth of KT Property Management
9:00 - Building Relationships Through Leases
11:46 - Landlords' Most Common Concern: Getting Paid
15:08 - Covering Property Damages
16:31 - Tenant Screening Process
18:23 - Handling Suspicious Applications
22:40 - Property Maintenance Issues
25:14 - Replacing Furnace and Water Filters
27:54 - Outro/recap
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Want more real estate podcast discussions?
Watch it here: czcams.com/video/uLhNb8fdHt4/video.html
Listen to it here: www.soundcloud.com/ktrealty
Catch clips and highlights of the show here: kormendytrott
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LinkedIn: www.linkedin.com/company/ktrealty
Pinterest: www.pinterest.ca/KormendyTrott
TikTok: www.tiktok.com/@kormendytrott?lang=en
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In 2011, Ariel Kormendy and Adrian Trott formed The Kormendy Trott Team, now often referred to as KT (thanks to our logo!). The foundation of KT is built on providing unmatched value and attention to detail in everything we do. From our ever-expanding, comprehensive list of exclusive services to our expertly trained team, you will receive the highest level of care throughout your entire real estate journey.
Originally a team of two in Milton, Ontario, the KT Team has grown into a large team of exceptional REALTORS®, a client-care department, and now includes KT media, KT Commercial and KT Property Management to provide our clients with a complete lineup of genuine, professional, and proven services across Halton Region, Peel Region and the surrounding Regions within the Greater Toronto Area.
We’d appreciate it if you’d subscribe and follow us for behind-the-scenes footage, real estate tips, industry secrets, exclusive listings, KT Confidential - the real estate podcast, and more!
zhlédnutí: 0

Video

These are the MOST COMMON Repairs and Neglected Maintenance | EP298
zhlédnutí 16Před 12 hodinami
Discover the hidden challenges of property management in this episode of KT Confidential! Adrian Trott and Ariel Kormendy dive into the most common repairs and neglected maintenance items their property management company encounters. Stay tuned and learn how to keep your property in top shape and your tenants happy! 0:20 - Intro 1:54 - Common service requests 4:08 - HVAC maintenance 11:19 - App...
Bulletproof Your Lease Contract | EP297
zhlédnutí 17Před dnem
Bulletproof Your Lease Contract | The Real Estate Podcast EP297 Ever faced tenant complaints, unexpected maintenance issues, or worse, being threatened with a lawsuit in your rental property? In this episode, Adrian Trott and Ariel Kormendy discuss the complexities of managing rental properties and the importance of clear policies and proper management. We share a real-life scenario involving t...
IS ONTARIO STILL A PLACE TO GROW? | EP296
zhlédnutí 83Před 14 dny
Shocking Stats: 4 Out of 10 Are Leaving Ontario! Ariel Kormendy and Adrian Trott dive deep into the alarming trend of residents leaving Ontario. With nearly 40% of Ontarians packing up and moving out, we explore the reasons behind this mass exodus. From the rising cost of living and housing affordability crisis to job opportunities and lifestyle changes, we uncover the factors driving people to...
509-716 Main St. E | Milton
zhlédnutí 20Před 21 dnem
If location and convenience matters to you, this spacious one-bedroom plus den condo is ideally located just steps from Milton GO and a plethora of amenities including shops, restaurants, and cultural sites like Milton Library and First Ontario Arts Centre. Highway 401 is also just 6 minutes away! This low-maintenance unit is perfect for first-time buyers, downsizers, or investors. Featuring a ...
Home Upgrades You WILL REGRET! | EP295
zhlédnutí 48Před 21 dnem
Last week, Ariel Kormendy and Adrian Trott discussed upgrades that homeowners loved, and this week, we’re flipping the script. From flooring choices to kitchen islands, we cover the top renovation regrets shared by real people. Whether you're planning a small upgrade or a major overhaul, this episode is packed with valuable insights to help you avoid common pitfalls and make informed decisions ...
5954 Algarve Drive | Mississauga
zhlédnutí 24Před 28 dny
Welcome to 5954 Algarve Drive, Mississauga - Your Perfect Suburban Home This semi-detached gem is located in Churchill Meadows. It features three bedrooms and three bathrooms, a fully finished basement, and a layout that maximizes comfort and style. This is a prime choice for those seeking a family home in a premium location. Key Features and Amenities The home features hardwood floors througho...
Home Upgrades You WON'T REGRET! EP294
zhlédnutí 38Před měsícem
Today, Adrian Trott and Ariel Kormendy discuss the most loved and least regretted home upgrades. From budget-friendly enhancements to major renovations, find out what homeowners are raving about and why you might want to consider these changes for your own home! 0:32 - Intro 2:36 - Topic Introduction: Least Regretted Home Upgrades 4:17 - Adding a Second Closet Rail 8:41 - Smart-ify your home 13...
What Happens to Real Estate Deals That Go Bad?? | EP293
zhlédnutí 57Před měsícem
In today's episode, Adrian Trott and Steve Cecchetto discuss the complex world of real estate transactions and explore what happens when deals go south. From failed negotiations and financing issues to legal disputes and market downturns, we discuss the myriad reasons why real estate deals can fall apart. Join us as they share their insights and experiences, providing valuable advice on how to ...
948 Rigo Crossing | Milton
zhlédnutí 35Před měsícem
This freehold, detached home is a gem in Milton's highly coveted Hawthorne Village on the Park neighbourhood. The main floor provides an instant wow factor with its stunning 5-inch hand-scraped hardwood flooring, modern wainscotting, a chic kitchen with granite countertops and stainless steel appliances, and an inviting living space with upgraded lighting and smooth 9 ft ceilings. Upstairs, you...
507 Genista Drive | Burlington
zhlédnutí 33Před měsícem
Welcome to 507 Genista Drive in Burlington's Garden Trails community. This 4-bedroom, 3-bathroom raised bungalow is perfect for families, especially those considering moving parents in. The fully finished basement offers a spacious living area, a full kitchen, two bedrooms, and a separate entrance, providing privacy and comfort without the typical basement feel. The main level features an open-...
How Staging Affects your Home Value! | EP292
zhlédnutí 41Před měsícem
Adrian Trott and Ariel Kormendy explore the concept and importance of home staging, discussing the various benefits it can offer to potential buyers. We also analyze the cost versus return on investment, helping you determine if it’s financially worthwhile. Whether you're a homeowner looking to sell or a real estate agent, this episode is packed with valuable insights and practical advice. 0:17...
22 Oasis Trail | Halton Hills
zhlédnutí 62Před měsícem
Welcome to 22 Oasis Trail Discover your dream home at 22 Oasis Trail, a beautiful detached three-bedroom property in the heart of Georgetown, Halton Hills. This home perfectly combines elegance and functionality, making it an ideal choice for families settling in a vibrant and welcoming community. Elegant and Modern Home Design The house features a captivating stone and brick exterior that sets...
139 Campbell Ave W | Milton
zhlédnutí 103Před měsícem
Discover your dream home in the heart of Campbellville, Milton, where history meets modern comfort on a nearly half-acre lot. This charming century home, lovingly maintained by only two owners, boasts four spacious bedrooms and two full bathrooms, exuding historic charm and character in every detail. The expansive lot, double the size of comparable properties, features a serene oasis with a spa...
Mortgage Rates are DROPPING! | EP291
zhlédnutí 65Před měsícem
Ariel Kormendy and Adrian Trott are diving into the latest developments in the housing market as mortgage rates are finally starting to drop! What does this mean for the market? Whether you're a homeowner, a potential buyer, or just interested in the real estate market, this episode is packed with valuable information you won't want to miss! Want more real estate podcast discussions? Watch it h...
564 Joyce Blvd | Milton
zhlédnutí 50Před měsícem
564 Joyce Blvd | Milton
You Won't Believe These Realtor Facebook Groups! | EP290
zhlédnutí 33Před 2 měsíci
You Won't Believe These Realtor Facebook Groups! | EP290
405 Dakota Road | Mississauga
zhlédnutí 39Před 2 měsíci
405 Dakota Road | Mississauga
1337 Blackmore St | Innisfil
zhlédnutí 58Před 2 měsíci
1337 Blackmore St | Innisfil
304-1050 Main St. E | Milton
zhlédnutí 65Před 2 měsíci
304-1050 Main St. E | Milton
Swimming Pools! 🏊 Are They an ASSET or a LIABILITY? | EP289
zhlédnutí 49Před 2 měsíci
Swimming Pools! 🏊 Are They an ASSET or a LIABILITY? | EP289
5183 Castlefield Drive | Mississauga
zhlédnutí 129Před 2 měsíci
5183 Castlefield Drive | Mississauga
296 Pine St | Milton
zhlédnutí 210Před 2 měsíci
296 Pine St | Milton
Why Hiring a Realtor is Crucial for BUYING or LEASING a Home | EP288
zhlédnutí 64Před 2 měsíci
Why Hiring a Realtor is Crucial for BUYING or LEASING a Home | EP288
38 - 2530 Northampton Blvd | Burlington
zhlédnutí 42Před 2 měsíci
38 - 2530 Northampton Blvd | Burlington
Why Hiring a Realtor is Crucial for SELLING Your Home | EP287
zhlédnutí 47Před 2 měsíci
Why Hiring a Realtor is Crucial for SELLING Your Home | EP287
306-1487 Maple Ave | Milton
zhlédnutí 46Před 2 měsíci
306-1487 Maple Ave | Milton
We Answered the Most Google-Searched Real Estate Questions!! | EP286
zhlédnutí 40Před 2 měsíci
We Answered the Most Google-Searched Real Estate Questions!! | EP286
707 Poplar Rd | Milton
zhlédnutí 50Před 3 měsíci
707 Poplar Rd | Milton
New Mortgage Relief for First-Time Buyers in Canada | EP285
zhlédnutí 81Před 3 měsíci
New Mortgage Relief for First-Time Buyers in Canada | EP285

Komentáře

  • @moonkitten5934
    @moonkitten5934 Před 22 dny

    I hope you can help me. I have 6 months left on my lease and I’ve asked the landlord if I can terminate my lease with no penalties due to a sudden flea infestation. I had to hire my own exterminator and they have sprayed my apartment 4x now. However, they advised me that the landlady needs to get her own pest control to spray the outside. It’s been a month and she has done nothing. Suddenly, she said I signed an animal addendum that states I’m responsible for taking care my unit , but it says nothing about me getting the outside of the entire complex. For that reason of her being in breach of the contract I have asked to terminate my lease early. As I mentioned, she is refusing to let me out without penalties. What can I do? I can’t keep living like this and it’s not right that she is forcing me to live like this .

  • @leelam1681
    @leelam1681 Před 24 dny

    Sit i want to break my lease earlyer , owner not providing water to my house ,if ask him water he is blackmailing me that he will kick me out of building without giving my money back, lease agreement made for 2 yrs and still 20 months, left i lodged police complaint on owner but police are not helping me pls suggest me what should i do...

  • @LEARNAITech
    @LEARNAITech Před měsícem

    Great episode! Rental prices are definitely a hot topic. Are they reaching unaffordable heights? Let's discuss! 🏠📈 #EP271 #RentalMarket

  • @akshveer2497
    @akshveer2497 Před měsícem

    Very Overpriced!! 20 oasis trail same house profile sold for 1.2m in Nov 23. Adds on = This one has a small pool (not a full one) 50k + backyard interlocking 15k + (Nov 23 - June 24) Appreciation 35k and the house has no special upgrades. So, 1.2m + 50k + 15k + 35k = 1.3m. Also, from recent sales = 16 oasis trail, 15 oasis trail & 12 oasis trail, all sold under 1.3m.

  • @danielficsor3962
    @danielficsor3962 Před měsícem

    In Arizona definitely a must

  • @MrFinalboss117
    @MrFinalboss117 Před 2 měsíci

    I know this video is a little old, however, I had a question regarding the permit for a basement. Instead of flipping the house after finishing the basement, is a permit still required to refinance with the bank when they send out an appraiser to verify extra bedrooms & deem liveable space?

    • @KTRealty
      @KTRealty Před 2 měsíci

      Great question! If your basement apartment is not permitted, the bank may not account for the income from that unit, which means their valuation will be lower, but they will still provide financing.

  • @user-kv4kp4co1r
    @user-kv4kp4co1r Před 3 měsíci

    At this point it doesn't matter if I buy or not but I want the investors to experience the payment shock on renewal.

    • @KTRealty
      @KTRealty Před 2 měsíci

      Why do you want investors to experience payment shock?

  • @rudfil
    @rudfil Před 3 měsíci

    Q: I’ve been thinking of selling my small post war bungalow and it has an oil furnace. would it be better to sell it as is or install a new gas furnace and AC before listing it?

    • @KTRealty
      @KTRealty Před 2 měsíci

      There's no way to provide a definitive answer without knowing more about the house and where you are. For example, if homes in your area are generally being torn down and rebuilt immediately, investing heavily into the house may be providing little return, however, if the the buyer is an end user, a new furnace could prove to be a compelling selling feature. The other unknown is whether or not your existing furnace actually needs to be replaced. If oil furnaces in your area are common, buyers may not be deterred, but if it's a rare find, you may find some buyers scared to consider it.

    • @rudfil
      @rudfil Před 2 měsíci

      @KTRealty....Its a well functioning furnace.... oil heating is more rare here and homes in the area are mostly 1940s era bungalows with 10% of them being torn down or topped.

  • @aurelsadar7629
    @aurelsadar7629 Před 4 měsíci

    Promo_SM 💥

  • @robindasilva4569
    @robindasilva4569 Před 4 měsíci

    You forgot one, my biggest ick!! “What’s your clients expectations?” 😂

  • @arielkormendy6152
    @arielkormendy6152 Před 4 měsíci

    This is one of my favourite episodes. ❤I will be encouraging every Realtor to watch this.

    • @KTRealty
      @KTRealty Před 2 měsíci

      It happens much too often!

  • @portiaroye4410
    @portiaroye4410 Před 4 měsíci

    Hi Sir please help, I’m on 12 months lease and I have 6 months left but I want to break my lease and pay the early move out fee but the landlord says I will still have to pay for 2 months rent even if I vacant the property. is it necessary to pay 2 months rent if I already moved out and paid the breaking lease fee

    • @KTRealty
      @KTRealty Před 2 měsíci

      Sorry we missed this message. If you're in Ontario, you're obligated to cover the rent until a new tenant moves in, you're also obligated to cover any costs that the landlord incurs in the process of finding a new tenant, which would include things such as advertising, real estate commissions, etc. A landlord cannot charge you anything beyond that amount. We recently had a tenant who needed to leave and she did her own due dilligence to find prospective tenants, we interviewed a few of them, were happy with one, and they moved in without the tenant paying any costs --although, I think she paid them a few hundred dollars as an incentive to take over the lease, in lieu of a rent discount.

  • @SeoExpertKabir
    @SeoExpertKabir Před 4 měsíci

    Hello Dear, I saw and analyzed your channel Content are Very Nice, But I found some problems. Due to This Your videos are not getting enough views, if you Permit I can say.

  • @productive23
    @productive23 Před 4 měsíci

    Great show… should definitely have more views. Love the quality and conversation!!!

  • @jessaquino4286
    @jessaquino4286 Před 4 měsíci

    My partner, his friend and I recently signed a lease (first month) but my partner has become very emotionally abusive and his friend never wants to clean around the apartment. We signed a year lease. My partner said he and his friend could cover the rent, which is what they were going to be doing anyway as I was paying for food and anything else needed. It’s my first time trying to break a lease so I’m not super sure how to proceed. I’ve read the lease but there isn’t anything regarding on terminating early. I’m afraid that I will mess up the lease for the other two roommates who still wish to stay.

    • @KTRealty
      @KTRealty Před 2 měsíci

      Hey @jessaquino4286 sorry we missed your message. This is a tricky situtation. If the landlord approved the rental application based on an undertanding that there were three sources of income, and if their decision would have been different without your income, then it may not be that easy. However, if the landlord is okay with you vacating, and they're comfortable with the other two tenants covering the costs, we would suggest having the landlord provide an amendment or a new lease alltogether, removing your name. That protects you in case your friends stop paying or cause other issues.

  • @jenniferg2449
    @jenniferg2449 Před 4 měsíci

    🤣🤣🤣 always fun watching

  • @BD-YouTube-Developer
    @BD-YouTube-Developer Před 5 měsíci

    Sir I sent you a message to everyone on your Gmail did you see

  • @MrStevec123
    @MrStevec123 Před 5 měsíci

    We love our Hunter Douglas motorized blinds :-)

  • @chrisbehie3696
    @chrisbehie3696 Před 5 měsíci

    My small-scale and lower-cost ROI would be Paint, Lighting and Door Hardware. For large-scale renovations, the Kitchen and Bathrooms are your money-makers. It is worth noting that just because you spend money to update/upgrade items, it does not guarantee a return. We see this with clients who pay money to paint a home without the gaudiness of a design professional in advance. With any renovation, spending money to have a professional assist with the design can also provide a great ROI! ** Really, Adrian? ROI on Hot Tubs?

  • @robindasilva4569
    @robindasilva4569 Před 5 měsíci

    Great insight as always! You will have to let me know if you think I will get a good ROI when my renovation is complete 😊

    • @arielkormendy6152
      @arielkormendy6152 Před 5 měsíci

      I'm happy to come in and provide you with a no-obligation, free home-evaluation 😂

    • @KTRealty
      @KTRealty Před 5 měsíci

      Deal!

  • @robindasilva4569
    @robindasilva4569 Před 6 měsíci

    I 100% agree that we are at the low and anyone thinking about buying should be doing it now! Great insight guys!

    • @KTRealty
      @KTRealty Před 6 měsíci

      Signs of the spring market increasing already!

  • @chrisbehie3696
    @chrisbehie3696 Před 6 měsíci

    I just called Bell this past week to cancel my cable. They ended up reducing the cost of my cable and internet by almost $80 a month.

  • @chrisbehie3696
    @chrisbehie3696 Před 6 měsíci

    Over the past couple of weeks, I see rent prices trending down. In our trade area specifically, a large supply of condos in Milton and Oakville is driving the prices down. I look Soleil condos as an example, there are 43 units available

    • @KTRealty
      @KTRealty Před 6 měsíci

      That’s a great point, Chris. Depending on inventory the prices will definitely fluctuate, and when a new condo building closes that has a number of investors in it, they are typically listed in the same period of time, essentially “flooding” the market.

  • @ibrahimf2100
    @ibrahimf2100 Před 6 měsíci

    Very informative but the dynamic between the hosts is very hostile and awkward 😳

    • @KTRealty
      @KTRealty Před 6 měsíci

      Kinda like an old married couple, huh?

  • @fishopedia6011
    @fishopedia6011 Před 6 měsíci

    I want to break the lease in Halifax city, I am ready to compromise the security deposit, will there be any additinal charge they can ask??

    • @KTRealty
      @KTRealty Před 6 měsíci

      We’re not thoroughly familiar with the residential tenancies act in Nova Scotia, however, if the standard lease is similar to Ontario, your deposit would have been for first and last month payment as security deposits are not part of the agreement. If you haven’t taken occupancy but are willing to forgo those deposits in order to break the lease, we suggest speaking to the landlord and stating your position and offering that as a resolution. Keep in mind you are still in a binding contract so any further agreements or changes should be document using the proper forms which can be obtained through your local legislature.

  • @arielkormendy6152
    @arielkormendy6152 Před 6 měsíci

    8:47 pay yourself first!!!!!!!!!!

    • @KTRealty
      @KTRealty Před 6 měsíci

      “Paying yourself first” is over-used. How about simply saving some money!!

  • @dianekelly687
    @dianekelly687 Před 7 měsíci

    May be pessimistic, but my prediction is .5% increase.

    • @KTRealty
      @KTRealty Před 6 měsíci

      It's a reasonable prediction. Very much in line with what Adrian's crystal ball is suggesting 🙂

  • @user-xy4mi4rl6y
    @user-xy4mi4rl6y Před 7 měsíci

    I have a yearly contact with my landlord and fixed time agreement will expire on 01/05/2024. But before that I would like to vacate the house on end of February 2024. I already given Form N9 to landlord on 01/01/2024. But they are not ready to accept it. So could you please advise me regarding this matter.

    • @KTRealty
      @KTRealty Před 6 měsíci

      We suggest understanding the Residential Tenancies Act for your particular city and your exact rental agreement requirements. If your lease agreement expires and you have transferred into a month-to-month rental arrangement, all you are required to do is provide a minimum of 60 days' notice.

  • @JaquelynTuazon-iq9gu
    @JaquelynTuazon-iq9gu Před 7 měsíci

    I want to terminate na contract due im not able to pay for the rest of the contract. Can i ask back the down payment i gave.?

    • @KTRealty
      @KTRealty Před 7 měsíci

      Hi, Jacquelyn. By down payment, are you referring to the last month of rent that's being held?

  • @MrStevec123
    @MrStevec123 Před 7 měsíci

    Some great comments, and loved Neil's perspective. For everyone renting - they should be speaking to a Mortgage Broker at a minimum, to understand where they are at financially - they may be pleasantly surprised.

    • @KTRealty
      @KTRealty Před 7 měsíci

      Thanks, @MrStevec123, we definitely agree!

  • @ericbraga338
    @ericbraga338 Před 7 měsíci

    My prediction is that the value will increase by 1% a year from now.

    • @KTRealty
      @KTRealty Před 7 měsíci

      Thanks for sharing your prediction. Seems reasonable and similiarly aligned to Adrian's prediction. We'll look back in 12 months to see who's right!

  • @CANADUKIAN
    @CANADUKIAN Před 7 měsíci

    If prices are the same, and inflation remains at 3-7%, that’s actually a loss of $30,000 to $70,000. Hardly an investment now. 🌊 🏠 If interest remains normal, $850k. If interest rates hit 0.1%, $4m. If rates go up another 0.5%, $700k. If recession hits and rates drop to 3%, $500k. Sellers, welcome to what buyers faced in 2020-2021. Power of sales are skyrocketing. Assignment sales are slauhtered. Airbnb under attack. Election centred on housing supply. You can still have a healthy and vibrant market, just need pricing to realign with fundamentals.

    • @KTRealty
      @KTRealty Před 7 měsíci

      Not sure we understand your numbers, but we can confidently say this... If rates drop to 3% (which they won't), prices would increase substantially once again.

  • @stephenrouleau9266
    @stephenrouleau9266 Před 7 měsíci

    Well done! Prediction is 2.6%.

    • @KTRealty
      @KTRealty Před 7 měsíci

      Thanks, Stephen. Your prediction is more aligned with Ariel's prediction. We'll see how close you are ;-)

  • @olivermmm2012
    @olivermmm2012 Před 7 měsíci

    Anyway ii coudk speak with you guys in peroson? Need some advice.

    • @KTRealty
      @KTRealty Před 7 měsíci

      Hey, Oliver! Feel free to call 1 (800) 617-0090. Provide our team with your contact details and one of us will get back to you. --Adrian

  • @olivermmm2012
    @olivermmm2012 Před 7 měsíci

    Good content guys

    • @KTRealty
      @KTRealty Před 7 měsíci

      Thanks for watching!

  • @olivermmm2012
    @olivermmm2012 Před 7 měsíci

    EXCELLENT CONVERSATION GENTLEMEN. Thanks for this content , very good and detailed explainarion.

    • @KTRealty
      @KTRealty Před 7 měsíci

      Glad you enjoyed it!

  • @brumasteve
    @brumasteve Před 7 měsíci

    Communication, professionalism and properly completed paperwork are key!🙌

    • @KTRealty
      @KTRealty Před 7 měsíci

      Isn't it beneficial for all parties if everyone is on-the-ball?!

    • @brumasteve
      @brumasteve Před 7 měsíci

      @@KTRealty It's a Win-Win-Win-Win situation 👍

  • @brumasteve
    @brumasteve Před 7 měsíci

    These are all great tips👍, especially visiting the agent's public open house as a "secret shopper". You'll see how the home is presented (as you said) and how the agent interacts with the public, how & if the agent educates the visitors on the home and its features.

  • @DNAHOMES
    @DNAHOMES Před 8 měsíci

    You may have covered this later in the video, but the product is best for those who wouldn’t qualify for a mortgage without the top up. So you have to compare the cost of still renting at $3000 per month until you save the equal 20% downpayment amount… the math is outstanding and makes it worth it.

    • @KTRealty
      @KTRealty Před 8 měsíci

      Agreed. There are scenarios where it's beneficial. We did go on to say that in those circumstances, it's best to pay out Ourboro, or whomever you're with, as soon as possible. However, in some of those instances, could the person be approved for a lower-priced home in a different area or settle for something smaller? Many people live far beyond their means. ANything less than 100% ownership will make it challenging to upsize in the future. Thanks for the feedback @DNAHOMES!

  • @arielkormendy6152
    @arielkormendy6152 Před 8 měsíci

    Keep in mind, even though we mentioned “low-balling” and being an aggressive negotiator when it comes to they buying side, you have to be mindful to not offend the seller, and make sure you can substantiate your position.

  • @kumbaon
    @kumbaon Před 8 měsíci

    Would you say Ourboro is a lower risk for folks that may have 20 percent but want to top up to 25 to 30 percent down?

    • @KTRealty
      @KTRealty Před 8 měsíci

      If you have 20% down, you’ll avoid mortgage insurance costs, so the only benefit of putting more money down would be to lower your monthly payments and interest. With that in mind, even at the current mortgage rates, it would still be cheaper than any alternative borrowing options, so stick to the 20% down and ride out the current mortgage rate until the rates come down and look at refinancing options at that time if needed/wanted.

    • @leobailey9662
      @leobailey9662 Před 8 měsíci

      @@KTRealtythank you for this. And it’s pretty crappy because they don’t actually contribute to the mortgage payment

    • @KTRealty
      @KTRealty Před 8 měsíci

      ​@@leobailey9662 Agreed! The marginal risk relative to the homeowner's equity sacrifice isn't well balanced.

    • @kumbaon
      @kumbaon Před 8 měsíci

      Update I proposed a deal to the team to cover their share of the mortgage payments. If not its essentially a private loan and to your point the rate is terrible when you account for the sale. They are not interested. If they changed their model to true co-ownership - I think it would be more equitable and fair.@@KTRealty

    • @KTRealty
      @KTRealty Před 7 měsíci

      The risky part of the business is that it's based on speculation. The better part of the last decade has proven to be lucrative for people investing in real estate on speculation that the market was going to improve, but many individuals, companies and funds are now liquidating or going bankrupt. It will be interesting to see how it plays out.

  • @brumasteve
    @brumasteve Před 8 měsíci

    Well said and explained; I really liked 'treat your tenant as a customer". I agree, that getting off on the right foot at the very beginning of the tenant/landlord relationship is crucial. Just like pretty much everything else in life😉

    • @KTRealty
      @KTRealty Před 8 měsíci

      Glad you agree @brumansteve! It's sometimes surprising how often landlords simply see the investment and dollars and cents as compared to the 'customer' who makes it their home.

  • @tlapo9671
    @tlapo9671 Před 8 měsíci

    My tenants have clearly looked up how to break a lease and are assigning frivolous, random things as major stretches to accommodate requirements to terminate a lease early. (Feeling unsafe because a neighbor left a note on their car when they violated guest parking rules) What are the landlords rights when it’s clear a tenant refuses to comply with rules and regulations in their lease. I.e. putting their trash cans away after multiple written notifications. To terminate a lease and still be paid for the lease amount?

    • @KTRealty
      @KTRealty Před 8 měsíci

      It seems odd that they would feel unsafe because of a note on their car as a result of violating parking rules 🤦🏻‍♂️ At the end of the day, safe or unsafe, if they're in a lease term, they have responsibilities to uphold the contract until it's done, and must provide 60-days notice before leaving once it's done. Is this a condominium? The note about the trash can sounds like more of a condominium by-law or local municipal by-law issue that they should be dealing with, not you. Is the tenant trying to leave? Will or are they cooperating with your efforts to find a new tenant? If a tenant doesn't want to be there, don't fight them on it, take the necessary steps to get a new tenant and ensure that the existing tenant understands their responsibility in the mean time. In Ontario, this means that they are responsible for paying the cost of finding a new tenant, along with paying their monthly rent and utilities until the new lease commences.

    • @carlib333
      @carlib333 Před 7 měsíci

      My daughter feels unsafe..due to the gunshots and the homeless walking around..what should she tell her apartment complex

    • @KTRealty
      @KTRealty Před 6 měsíci

      @@carlib333 How does "I'm getting the **** out of here!" work? 🙃 Depending on the lease arrangement, most apartments are a monthly rental agreement. If there is reason to believe that safety is a concern, gunshots would do it. We suggest discussing it with the apartment management first. It is also essential to understand the tenancy rights and apartment laws in your city.

  • @jazmindiaz3283
    @jazmindiaz3283 Před 8 měsíci

    Hi I wanted to know if I can break the lease… we rented through property management company but the owners of the property have a bunch of legal issues and people keep bringing summons to our door and being aggressive thinking we are them! My daughter is disabled and it’s causing her a lot of stress/ health decline. Im considering asking her neurologist to write a letter to break the lease. Will this work with no penalty? Thank you!

    • @KTRealty
      @KTRealty Před 8 měsíci

      Hi Jazmin, sorry to hear about your situation. It would be fair to think that this may be categorized as something that infringes on your reasonable enjoyment of the rental property or qualifies as harassment, which, in Ontario, is a reason for a tenant to end their tenancy early. You can download the T2 and T2 Form Instructions document from the Landlord and Tenant Board website here: tribunalsontario.ca/ltb/forms/ If you're not in Ontario, check with your local governing body to see if this is similar. We'd also suggest you start with a conversation with the Property Management company and express your concerns. You may find they side with you and resolve the issue one way or another. Keep us posted on your progress!

  • @MrStevec123
    @MrStevec123 Před 9 měsíci

    Enjoyed chatting about this topic, and having gone through it personally, and professionally communication and working toward a common goal (as difficult as it might be) is key! The more you can figure out on your own the more money that ends up in your jeans at the end of the day. Hope it never happens to our listeners, but my advice would be to put your ego aside and get as much done as you can - it will benefit both of you in the end!!

    • @KTRealty
      @KTRealty Před 9 měsíci

      Glad you enjoyed it! It’s not a comfortable topic for many, but unfortunately one that is coming up often.

  • @robindasilva4569
    @robindasilva4569 Před 9 měsíci

    Definitely one of the most asked real estate questions! Great insight, as always!

    • @KTRealty
      @KTRealty Před 9 měsíci

      Glad you enjoyed it!

  • @MrStevec123
    @MrStevec123 Před 9 měsíci

    I have noticed a reduction in rentals this year for sure. Down approximately 25% from the last couple of years. My pricing has always been lower than other rentals in our area - deliberately - I suspect a big reason is that people are no longer limited in their ability to travel. I don't think short-term rental sites/programs will go away, but Hosts will continue to be critiqued online for everything so will need to step up to survive. We still provide a small welcome gift upon arrival - it's a nice touch, appreciated and very inexpensive. I have found that people don't really want the owner to interfere - as long as you establish the communication prior to their arrival and they know to contact you with any issues they may have! ~ Signed, a 10x Superhost.

    • @KTRealty
      @KTRealty Před 9 měsíci

      Some great points, Steve. You're absolutely right… many renters prefer having a no- contact arrangement these days, but being communicative and setting up a great experience for them is an important part to making their stay an enjoyable one. Congrats on your 10x superhost status! ☺️

  • @juliesamson9285
    @juliesamson9285 Před 9 měsíci

    I wanted to break my lease early. But I have a roommate that wants to stay. How can I break my lease early without paying too much penalty?

    • @KTRealty
      @KTRealty Před 9 měsíci

      Julie that depends on several things, most importantly, your State/Provincial Acts that govern the residential rental segment. Is your roommate financially qualified to take over the lease themselves? Have you been able to talk to the landlord about the situation?

    • @riyawasnik6505
      @riyawasnik6505 Před 4 měsíci

      Same with me. Pls help! My roommate is not ready to pay alone for the full rent, the landlord and broker both are saying you both have to mutually send a notice which my roommate would never do. Stuck!

  • @kavleenajmani7724
    @kavleenajmani7724 Před 9 měsíci

    Hi, i wanted to know if a tensnt had received a notice to vscate the house from the owner when can the tenant move out. Do they have to serve 2 months notice or can they move out early?

    • @KTRealty
      @KTRealty Před 9 měsíci

      In Ontario, if a landlord serves an eviction notice to a tenant, the tenant can then leave with ten days notice.

  • @vishalsingroha2192
    @vishalsingroha2192 Před 9 měsíci

    Hi I want to break my lease Because i have a life threat from my neighbors Can i break the lease ????? 4 months are left

    • @adriantrott6699
      @adriantrott6699 Před 9 měsíci

      That's horrible to hear. First of all, if you haven't already, speak with the police about the situation. On the lease end of things, I would start by explaining your situation to the landlord, and hopefully, they'll be sympathetic to the situation and find a mutually beneficial way to satisfy your desire to move. If it was me, and my landlord wasn't cooperating, and I felt truly threatened, I'd be packing my bags and dealing with the lease situation later.

    • @KTRealty
      @KTRealty Před 7 měsíci

      We are curious to know what happened with this? Were you able to sort this out and stay alive?