Protect Your Floors Against the Effects of Winter

The weather is changing whether we like it or not, and with winter fast approaching, building managers and landlords should be proactive in regard to floor care. This is highly important in building lobbies and common areas.

In order to counteract the damage that winter weather can cause on the flooring, property managers should take certain measures leading up to the season. By taking extra precautions now, building floors will be cleaner, safer and protected when it is most important.

First, a highly durable flooring finish should be applied to all common areas and entrances. Purchasing the more expensive products is worth it! High quality products will reduce cleaning costs and maintenance needs, ultimately paying for itself in the long run.

The second thing to consider is if enough layers of finish have been applied to the floors. In the summer, if the floors are shiny, this usually means that three to four coats of finish have been applied to the flooring. For the winter months, three to four coats will not be enough. Ideally, the flooring would have about five to six coats applied for protection against the snow and salt. These added coats will allow protect the floors against the increased cleaning that takes place over the colder months.

It is important to have a winter maintenance program in place at any buildings you manage. Make a schedule of how often the building will be vacuumed, swept, mopped, scrubbed and re-coated. The frequencies of these tasks will need to be increased during the winter. As part of this program, the building managers will need to install weather mats around the building. By installing mats, these will capture as much as 80 per cent of snow, salt and other soils. Mats should be place at all entrances, and around common areas of the building.

The last thing to consider is to strip and refinish the flooring during warmer months. Experts generally do not recommend stripping and refinishing flooring during colder months. This is mainly due to many finishes not adhering properly during the winter.

Keeping these tips in mind as the colder weather approaches will prove beneficial to the flooring in  your building. Winter is on its way!

Proposed Rental Licensing Meetings – Nov 19/21

Hello to all Guelph residents, and especially all parties concerned with the proposed Licensing Program for rental properties in Guelph. We attended the meeting held in the council chambers at City Hall on Tuesday night regarding this proposed licensing program in Guelph.

There was a large crowd in attendance in the gallery, comprised mostly of landlords and residents. It appeared that there was an overwhelming lack of support for the proposal from Guelph landlords and residents, so it will be interesting to see what happens at tonight’s second open house!
For those of you who did not attend Tuesday’s open house, below you will find some notes we made from the presentation by the City:

• The meeting involved a half an hour presentation by representatives from the City of Guelph
• They notified everyone that there have been enhanced enforcement efforts in the City recently
• A cost-benefit analysis was presented to council back in July and was briefly discussed
• City says no decision has been made on licensing as of yet
• A working group comprised of stakeholders will be held in January for landlords, tenants and residents
• Another community meeting will be held in February
• There are 5 proposed options for the licensing program in Guelph
• A citizen advisory committee will be formed
• Inspections would be done by the City and ESA under licensing , for zoning and building issues to each rental unit (excluded will be student residences, buildings with 3 units and more, social housing, and group homes)
• City states they wish to inspect rentals at different times throughout the year in the first 2 proposals to ensure landlords are complying with the laws
• Identified issues that will be addressed by licensing:  tenant health safety; neighbourhood destabilization; disruptive behaviour; lack of information about rental housing stock; enforcement challenges; funding implications
• City may adopt a risk based approach. Only properties that pose a risk would need inspection. Risk factors could include previous complaints, observations etc.
• Fees range from $132 per room per year annually to every second year for $90 per room per year
• Self-certification options are an option, which would greatly reduce the costs of implementation

We encourage all interested parties to attend the meeting tonight (Thursday, November 21^st) at 6:30pm at Guelph City Hall to give an opinion or just listen in. See you there!

Rental Licensing in London Facing Financial Challenges

Any stakeholders, which will include all taxpayers in Guelph, who will be affected by the proposed licensing of rental properties in Guelph should read this article from the LPMA News March 2013 edition, which is the newsletter for The London Property Management Association. The numbers are disturbing and clearly illustrate what  many property owners in Guelph fear will happen in Guelph if the city passes the proposed licensing regulations as they have been presented.

We encourage all to pass along this article to members of City Council in the hopes that this will bring about more discussion before the licensing proposal is passed!

By clicking the link below, this will bring you to the LPMA News article discussing London’s financial challenges with the rental licensing program.

LPMA News March 2013 Edition

 

 

 

City to Host Community Open Houses to Discuss the Proposed Rental Housing Licensing Program

The City of Guelph is hosting two community open houses this month to discuss the proposed Rental Housing Licensing Program that has brought a lot of controversy to the city this year. These open houses are to be held on Tuesday, November 19^th and Thursday, November 21^st at City Hall and will discuss the potential advantages and disadvantages of implementing the program, alternatives to the program and an in-depth description of how the program will operate.

If you are a landlord, a renter, an investor or even an interested member of the community, attending these open houses will help you better understand the proposed program as well as allow your voice on the issue to be heard whether you support the program or not.

For more information on these community open houses, please see the City of Guelph’s article on the topic from yesterday.

 

Guelph begins community consultation process to discuss rental housing licensing

Guelph, ON, November 7, 2013 – The City is considering the creation of a Rental Housing Licensing Program and is looking for input from landlords, tenants, property owners, neighbours and community members.

“The City is providing a number of opportunities for community members to participate in conversations about rental housing”, explained Rob Reynen, manager of inspection services. “Community feedback will be considered by City Council when deciding whether Guelph will implement a licensing program for rental housing.”

The City is working to determine if, in addition to enhanced enforcement and community education, a licensing program could help address rental housing issues including tenant health and well-being.

Community members are invited to participate in two community engagement meetings.

The first meeting will be held on Tuesday, November 19, and will include a broad discussion on the potential costs and benefits of licensing rental housing and an overview of a number of preliminary alternative licensing options. The second meeting will be held on Thursday, November 21, and will allow for a more in-depth discussion of potential technical and implementation elements of Rental Housing Licensing Program options. Both meetings will take place from 6:30-9 p.m. and will be held at City Hall.

A community working group will also be established. The community working group will assist City staff in assessing the pros and cons of licensing and determining what combination of rental housing licensing components could be most effective in addressing stakeholder issues, needs and concerns.

Members of the public who are unable to attend the community engagement meetings will have an opportunity to complete an online feedback form on guelph.ca/rentalhousing.

Learn more about rental housing regulations and activities at guelph.ca/rentalhousing.

For more information

Rob Reynen
Manager of Inspection Services
Building Services
519-837-5615 extension 2386
rob.reynen@guelph.ca

What to Consider Before Purchasing a Rental Property

If you are unfamiliar with what to consider when purchasing a rental property, it pays off to do you research beforehand. Evaluating the profitability of a rental property can be quite difficult if you do not know what to look at.

We have a few tips for you to think about when going through the purchasing process:

1) Property Location

Don’t be tricked into believing that any property has high yield potential. Not all rental properties are profitable, sometimes the maintenance expenses the owner takes on cost more than the rental income that is brought in each month. Of course there may be months where you are working with negative cash flows; however, you will want to ensure that the rental property has potential for positive cash flow after the first month or two.

It is important to do your research on the location of the property. Take notes on the average number of people seeking rental units in the area, who the average renter is in the area (i.e. students, families, working professionals, etc.), the median rental rates in the neighborhood, and the crime rate/safety rating of the area. This information will be helpful when evaluating if the rental property will be profitable, which is the reason you’re purchasing the property in the first place.

2) Property History

Take advantage of the information available to you on the property. Most country recorder’s offices, city halls, or country courthouses will have property records that are open to the public. Conducting these property record searches will provide insight into the property’s history. This information could include previous property inspection notes, unauthorized changes made to the property, and/or any other maintenance issues that may prove to be helpful.

These searches can also determine the number of times the property has been sold, how long the previous owner had possession of the home, any pending foreclosures, and any encumbrances or liens placed on the property that may affect your decision on making an offer.

3) Research Fair Market Value

There are many tools available to you that will help you determine the fair market value of the property to ensure you do not overpay for your investment. You can find property investment calculators for free online. An investment calculator can help you compare results of the property’s fair market value to the asking price. Alternatively, a realtor or property appraiser can provide you an estimate of what the property is worth. These services would come with an expense, but could prove to be worth the cost to ensure you pay a fair price for the property.

4) Calculate Maintenance Costs and Investment Expenses

It is very important to calculate the maintenance costs you expect to acquire while owning the property. Take notes of immediate maintenance expenses such as painting expenses, new flooring costs, repairs that may need to be done before a tenant moves in, along with long-term costs such as a new furnace installation in 5 years, new roof in 10 years, etc. This will help you determine whether you can afford these costs and provide you a rough idea of a timeline for expenses you can plan for.

5) Determine Profitability

This is the reason why you are considering investing in a rental property, profitability. Return on investment (ROI) are always your first priority, otherwise the investment is not worth your time, energy or money. You will want to determine how long you will own the rental unit before you will recoup any money you put into the property. Calculate if the rental income you receive from the tenants will cover the maintenance costs and provide you with a healthy profit each month. A good rental property will pay for itself quickly.

Keep these tips in mind when looking at potential properties to purchase as rental properties. It is better you ask these questions and take the time to calculate these costs before purchasing a rental unit to ensure you are confident in your investment and you will bring in positive returns.