Trusted Regina Blog | All posts tagged 'rental'

When looking to buy, sell, or refinance a property, you need to hire somebody who is not a stranger to addressing the real estate needs of individuals and families. Robert MacKay is the man to call. ROBERT MacKay is your TRUSTED REGINA REAL ESTATE LAWYER!

Buying a home can be a stressful but exciting time. Robert Mackay, our Trusted Real Estate lawyer cautions about some potential scams when buying your home!

Real estate fraud can cause you to have large financial losses. If you are a victim of real estate fraud you may find out that you no longer own your home or that there have been additional mortgages taken out in your name.

There are two main types of real estate fraud that may result in financial loss:

Title Fraud

Title fraud happens when the title to your home is stolen, and then the fraudster sells the home or applies for a new mortgage against it. Title fraud usually starts with identity theft, which can happen if somebody steals your personal information.

"Title insurance" is the best protection against this type of fraud. As well as protecting against title fraud, it also guards a new owner from against existing liens against a property's title (such as unpaid debts from utilities, mortgages and unpaid property taxes), encroachment issues (a structure on a property needs to be removed because it is on your neighbor's property) and errors in surveys and public records.

Foreclosure Fraud

Foreclosure fraud usually happens when you are having problems making your mortgage payments. You may be tricked into transferring your property title to somebody to get a loan that will help you make your payments. Fraudsters usually keep the payments you make and also possess the title to your home, which they can resell or remortgage.

Two common scams that exploit a victim's need for cash are foreclosure fraud and home-equity fraud.

Cash-crunched property owners or investors seeking can be vulnerable to other scams or unscrupulous behavior to tap equity. There is always risk when leveraging properties, but a legitimate bank, broker or private lender should be forthright when explaining risks. However, those looking to borrow on equity should be alert for less scrupulous lenders, such as those who invite owners to embellish their application by exaggerating income, down payment or property assessment value sources in order to secure a larger loan.

Other types of scams you should be aware of include

Online rental/sale scams.

In these scams, rental property is advertised (usually at low costs) on online classified sites like Craigslist or Kijiji. The ads use information and photos describing the property that has been "scraped" from legitimate ads, such as those on the MLS. A scammer will impersonate the landlord, property manager or estate agent and will respond to emails and calls from prospective tenants. The scammer indicates he or she is unable to meet a prospective renter at the property, and instead proposes a meeting off site to exchange keys, sign a tenancy agreement and collect rental deposits. Victims may only learn they've been duped when they show up at a property to discover that it is already occupied.

Things to be alert for in such listings include claims of urgency, such as "must sell now," promises of high returns or "low-cost/no-cost" financing. These sort of claims are usually too good to be true, and they also can be prevalent in off-line scams.

Property investment seminars and courses.

Educating yourself about property investment can be essential for success, but prospective investors should be alert and do their research on seminar providers. There are legitimate speakers and seminars that provide beneficial information, others exist primarily to take money from the credulous … and there are some that are in between.

One common type of seminar is designed to hook buyers into "sure-fire" investments that are promoted by the seminar hosts. Potential investors may be invited to these seminars through an ad in a newspaper or magazine, a phone call, an email or other method. These seminars may include a motivational speaker, an "investment expert" or a "self-made millionaire."

The basic advice, be skeptical of claims and do your due diligence before committing any money to an expensive course or investment.

Remember there are no get-rich-quick schemes: the only people who make money are the scammers.

For more questions and help with any legal property issues consult with our Trusted Regina Real Estate Lawyer Robert MacKay

Here is a list of more consumer tips by Robert MacKay

Robert MacKay's team provides professional, personalized service and with their assistance, you can rest assured that your real estate transactions will be handled with the utmost consideration and care.

They provide a full range of legal services including:

Real Estate & Mortgages
Wills & Estates
Family Law & Divorce
Commercial & Corporate Law
Litigation & Personal Injury

ROBERT Mackay is your TRUSTED REGINA REAL ESTATE LAWYER!

Our Trusted Regina Real Estate Lawyer Robert MacKay want's to ensure Landlords are fully aware of the financial and legal issues that can arise from criminal activity conducted by a tenant.

A recent article from the Star Phoenix "Regina landlords lose bid to make insurer pay for drug-house explosion" details how a local landlord attempted to gain compensation for the home from the insurance company. The insurance company had denied their claim and pointed to a 2003 notice posted in a renewal package that stated simply: “We do not insure property used for the illegal cultivating, harvesting, processing, manufacturing, distributing or selling of marijuana.”

Even though the landlords claimed they took all reasonable steps to screen the tenant and his partner, who had children and were otherwise “model tenants.” There was simply no way for them to know the tenants were surreptitiously running an illegal drug operation in the home, they argued. However, Court of Queen’s Bench Justice Richard Elson rejected those arguments stating "changes to the policy were hardly “buried.” They came highlighted in a special box on the front page of the renewal form". Further, he noted that renting always carries an element of uncertainty — and landlords should be prepared for the worst.

How can a landlord limit responsibility for a crime committed by strangers on the rental property?

Screen tenants carefully and choose tenants who are likely to be law-abiding and peaceful citizens. Weed out violent or dangerous individuals to the extent allowable under privacy and anti-discrimination laws that may limit questions about a tenant's past criminal activity.

Don't accept cash rental payments.
Do not tolerate tenants' disruptive behaviour. Include an explicit provision in the lease or rental agreement prohibiting drug dealing and other illegal activity and promptly evict tenants who violate the clause.
Be aware of suspicious activity, such as heavy traffic in and out of the rental premises.
Respond to tenant and neighbour complaints about drug dealing on the rental property. Get advice from police immediately upon learning of a problem.
Consult with security experts to do everything reasonable to discover and prevent illegal activity on the rental property.

As in this case, screening doesn't always help it can limit the possibility of being denied by your insurance company. Ultimately the liability falls on the property owner to be aware of the possible issues that can arise from criminal activity.

Before you decide to rent out a property consult with a lawyer such as Robert MacKay to be certain that you are aware of all the potential legal implications and your options.

For more questions and help with any legal property issues consult with our Trusted Regina Real Estate Lawyer Robert MacKay

They provide a full range of legal services including: