What to Do When Seller Doesn’t Have Leases for Tenants

Podcast Episode 110:

“Get the Details.”

A client of mine found a four-plex in Alberta with a motivated seller, but soon discovered that he would have to deal with problems caused by the seller’s inexperience. The location was good, with a tenant profile that fit the type of people that my client liked to rent to. And, the price was very good. Listen to the podcast or read on to learn about documents you can use to protect your interests when buying from sellers like this who haven’t been very good landlords.

Download the audio file HERE.
Download the handout HERE.
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Property Inspections, Reports, and Permits

house outline with check mark

Podcast Episode 93:
“Inspection Reports & Multi-family Diligence.”

Under Alberta’s Residential Tenancies Act, an inspection report must be made whenever a tenant moves into, or out of, a rental property.  But what happens if you buy a property and can’t get the in/out report? Similarly, building permits for multi-family dwellings specify their maximum number of units. What happens if you buy a building that has illegal suites? This episode of Tales from the Trenches explains the legal issues of both inspection reports and occupancy permits in Alberta.

 

Download the audio file HERE.
(control click or right click + save as)

Use the form below to contact Barry McGuire, veteran Edmonton real estate lawyer.

“3D Home Inspection Big Check” by http://www.ccpixs.com/ used under CC Attribution 2.0 Generic.

Tax Charity Scam

Podcast Episode 14: “Tax Charity Scam.”

Fighting with tenants over small amounts of rent or security deposits is almost never worth it. Unhappy tenants can falsely report you to the Canada Revenue Agency (CRA) and trigger audits. Tax schemes that promise deductions much larger than a charitable donation are almost always found to be shams and disallowed by the CRA. You will almost certainly lose your deduction and the charitable donation itself along with spending huge amounts of money on legal and accounting fees.

Download the audio file (Mac control + click + “save as” / PC right click + “save as”) HERE.

The full-text version of this Tale from the Trenches can be found HERE.

Contact Barry McGuire now. Alberta real estate needs an Alberta lawyer.

Tax Charity Scam (Handout)

Text Notes for Podcast Episode 14: “Tax Charity Scam.”

Fighting with tenants over small amounts of rent or security deposits is almost never worth it. Unhappy tenants can falsely report you to the Canada Revenue Agency (CRA) and trigger audits. Tax schemes that promise deductions much larger than a charitable donation are almost always found to be shams and disallowed by the CRA. You will almost certainly lose your deduction and the charitable donation itself along with spending huge amounts of money on legal and accounting fees.

Download the handout (Mac control + click + “save as” / PC right click + “save as”) HERE. Continue reading