Happy September to the Royal City! I am YOUR Guelph REALTOR®, Krystal Moore, and I’d like to help you understand the rules when it comes to buying a home with “income potential” here in Guelph, Ontario.
FIRST TIME HOME BUYERS
Buying your first home is an exciting and scary time for most people and buying a home that allows you to earn income is a popular idea with buyers today. It’s important for buyers to fully understand the risks, the rules and the reality of this option.
- Are you ready to become a landlord? There are a lot of responsibilities, rules and regulations involved with becoming a landlord and your activities will be governed by something called the Residential Tenancies Act. Here is a link to a Guide on this Act: http://www.ltb.gov.on.ca/en/Key_Information/STEL02_111677.html
- Are you creating an accessory apartment or are you just ‘renting a room’? The City of Guelph has certain rules about renting and it’s important that you inform yourself as much as possible about what these rules are. For example, if you rent out your basement and you have a kitchen, or even just an extra sink downstairs, you may have what the City terms an “accessory apartment”, and THAT means that you are subject to additional rules. Check out http://Guelph.ca for more information or click on this link for more information: http://guelph.ca/city-hall/planning-building-zoning/community-design/housing/shared-rental-housing/accessory-apartment-regulations/
- Are you prepared to find, interview and qualify potential tenants? It’s important when selecting tenants that you properly qualify them to ensure that they will be good tenants for you and your new investment. How do you do this? There are a lot of helpful internet sites designed to help with this process and you can get in touch with me, YOUR Guelph REALTOR®, Krystal Moore to help you from start to finish.
For more information about this and other Real Estate topics in Guelph, or to set up a free no obligation consultation, please get in touch for Moore today! Kmoore@rlproyalcity.com or 519-400-8394. I’m looking forward to your call and to getting to know each other!
YOUR Guelph REALTOR®
Krystal Moore, Sales Representative
Royal Lepage Royal City Realty, Brokerage
Independently Owned and Operated
214 Speedvale Ave. W.
Guelph, ON N1H 1C4
Why choose Krystal?
I have over 15 years’ experience in Sales and Customer Service, I am motivated, dedicated
and have a solid background in law. I consistently go above and beyond to make my clients
feel important, valued and appreciated!
Want to know Moore?