Keys Of Your Own

06/03/2020

"By failing to PREPARE, you are preparing to fail". This could not be more true!! The first conversation with all of my Buyer clients cover everything in this info graph so that when we find the perfect home, you know you are fully ready to take the leap.

05/26/2020

05/22/2020

Which situation is better for you? There are pros and cons to both. Are you asking yourself which is right for you right now..in 2 years...in 10 years...connect with me and let's find out whats best for you.

05/01/2020

5 Ways to be a good Tenant & Landlord

Why would I want to learn about this? Because being a good tenant directly translate/reflects/is good practice for being a good/disclipined homeowner.

1.- Keep your credit score good! Why? When you are applying for any loan, in our case, a mortgage, the bank will run your credit and that "score" will help determine what kind of "threat" you are to the bank getting their money back
How? - pay your bills ON TIME ALWAYS - missed payments directly affect your credit score. It is what your credit IS.
- If a bank or CC (Credit Card) company reach out TO YOU to ask if you want a LOC (Line of Credit) or up your CC limit, that's a good sign. They trust that you will pay them back on time. Consider taking advantage of having an LOC....in may come in handy one day. Be wary about another CC as the interest rates are MUCH higher.

2. Get used to looking at your bills.
- Review your utility bills. Make sure they are correct. Monitor your usage

3. - Be good to your neighbours
- speak with them directly in good times and in bad (disputes) - they look out for you when needed
- be respectful of your neighbours - noise, smoke, smells...

4. Maintain the property - be PROACTIVE instead of reactive
- yes a landlord must fix any major damage but could you have avoided that damage in the first place?

5. Insurance - why is this necessary? My least favourite thing in the world...until you need it. Water is our best asset and also our biggest preditor. Condo, house, multi-unit home....important to get insurance to cover your items in case of a mistake, damage or incident in your control or not. Protect yourself.


How to be a good LANDLORD

Maybe the first property you want to own is an investment. Great idea! Here are 6 topics to be aware of to be a great landlord.

1. Know that being a landlord does take work. A good landlord should recognise that they can't be completely hands off.

2. Create a great relationship with tenant right off the bat. This person is responsible for keeping your asset valuable!

3. Be Proactive on home maintenance/property upkeep

4. Insurance - keep it on the property (not the content as that is the tenant)

5. Getting a great tenant is better than making more money and having issues with the tenant constantly - you want it to be easy and smooth

BONUS #1 . Notices to the Tenant - give them early and accurately. Be kind and considerate. This is a business to you yes but you are dealing with people's lives.

BONUS #2 . Having a team ready for "in case" purposes" - cleaner, handyman, property manager, painter etc.

04/28/2020

The first step in the home buying process is to study the market....well the first step is to call me and I'll tell you what's going on in the market 😉
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In an effort to keep everyone up-to-date on what is happening with the real estate market in Toronto, Royal LePage gives their advise on the near future and TRREB has produced a Mid-April info graph (see third photo). If you have any questions, please connect with me.
@ Toronto C•A•N•A•D•A

04/25/2020

TENANT INSURANCE! Why do we need it? What is it good for? Find out more on our page which you can access through the link in our bio.

04/23/2020

Why Do you Need Tenant Insurance…and when the time comes…Home insurance?

WHAT IS TENANT INSURANCE?
Tenant insurance (also called renter’s insurance or content insurance) is very similar to a home insurance policy. The big difference is that there is no coverage for the building or house. That is the responsibility of the landlord who owns the house, condo unit or apartment building you live in. Coverage for renters is specifically designed to protect your personal property, liability and additional living expenses in the event of a claim.

TENANT INSURANCE COVERAGE
Insurance coverage varies slightly depending on the company and options you choose. However, most policies in Ontario include the following basic coverage:
 Liability – This is your personal protection from accidents causing bodily injury or unintentional damage to someone else’s property.
 Contents – A good way to think about contents is to visualize your home or apartment as a box. Now turn that box over and shake it, anything that falls out would be your contents. All of your belongings like clothing, TVs, computers, furniture, appliances, sporting equipment, jewellery, make up, etc. would all be covered within the limit of your tenant insurance policy.
 Additional Living Expenses – This will help you pay for any necessary expenses like food, clothing and hotel accommodations during a claim or other situation that forces you out of your home for an extended period of time.

HOW MUCH IS TENANT INSURANCE?
The cost of your insurance policy is determined by a few factors, including:
 Amount of coverage you choose
 What city you live in
 Type of structure you live in? (i.e. apartment, condo, townhouse, house)
 Insurance company you choose
 Your insurance history
Whether you are renting for the first time or have had tenant insurance for years, it is wise to shop around or talk to an insurance professional who can compare prices for you, answer your questions, and match up a tenant insurance policy that fits your individual needs and budget.

QUICK TIPS
- Shop around for the best rate for you...you can find one in your budget
- Don't wait until the last minute to do this
- Is it mandatory? - when working with a realtor it is 99.9% of the time but it is not a law in Ontario
- the addition of Tenant Insurance may be annoying but think of it as good budgeting practice for the future.
- YOUR HISTORY - like credit, when purchasing home insurance, the provider will look at your history and this will affect your quote.

These sites provide more info:

https://www.sonnet.ca/location/tenant-insurance/ontario?gclid=Cj0KCQiAz53vBRCpARIsAPPsz8V5zcrKV011ueRHnUODZl3wqJDkcA9m1BRjGJAlrdSlbBbj6NMskyUaAhDmEALw_wcB

With transparency, I got all this information from this website:
buckleyins.com/do-i-really-need-tenant-insurance/

04/17/2020

Why Keeping Your Credit Score High is Necessary.

I remember in high school being taught to balance a budget or learn the basics of managing your finances. To me, that meant, you shouldn't buy anything you couldn't pay for up front. But, it’s important to “go into debt” so that you can grow your credit score. Well isn’t that confusing? If you have ever rented before, odds are that your landlord required your CREDIT SCORE. The point of your credit score is to show how often you pay back your debts on time. The higher your score, the more times you paid off your debt on time. Your score drops when you don’t pay off a debt on time. A credit card payment. A student loan payment. A car payment. A mortgage payment.
When you are looking to rent OR BUY a property, your credit report will be run and this number will help determine if you are approved or not. Read this article to find out more.

Building a good credit history is important for your long term financial health. Learn why establishing a positive credit history should be a priority.

04/06/2020

I want to know, how is COVID-19 affecting you?

I would like to gain a stronger knowledge of how this pandemic is affecting my clients in terms of their current plans, future plans and overall mindset. Please post your comment on this thread so that we can get a conversation going.

04/06/2020

Hi Everyone! Welcome to Keys Of Your Own (KOYO). This page will be filled with my clients who are currently renting or looking to purchase their first property. If you know anyone who wants to understand if purchasing a property is right for them, please invite them to join the page.