How Many Is Too Many

Written by Shlomo Sharon | 09 August 2014

The Renter's Guide

Recently, we received a rental application for a unit in one of the rental properties that we manage.  All the required information (current residence, rental history, employment history, personal references and income verification) was provided.  The rental application also included the number of people who would be occupying the unit.  At first glance, it appeared as if we were not going to have any issue with the application.  The financial information, subject to verification, and the credit report seemed to meet the financial requirements.  However, when we counted the number of occupants, we realized that we would have a problem.  The number of persons who would be living in the unit exceeded the allowance that is permitted by the Toronto Municipal Code.

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Owners, Developers And Property Managers

Written by Shlomo Sharon | 05 July 2014

New Condo Guide

When a developer makes the decision to go to market with a new condominium project, he/she needs to prepare a disclosure package containing legal and financial information pertaining to the development. When the purchaser signs the Agreement of Purchase and Sale, the developer must provide the purchaser with the disclosure statement including the first year budget which is often prepared by a management company. While some developers have their own management firms, most will engage a third party who is independent of the developer. It is sometimes confused by owners that the management company is influenced by the developer, which is not the case.

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