Doug Pretorius (ON) 9 Report post Posted January 12, 2012 I was just informed by a prospective seller that the city has introduced a 'rental housing health and safety certification fee' (translation: BS tax). $500-$600/year for each rental unit. I'm thinking that represents the entire cash flow for many landlords makes me wonder why anyone bothers to be a landlord anymore. Anyway...the question is, how do you guys keep up with all this crap? I can't be bothered to read every piece of legislation that comes out and I'm certainly not going to pay my lawyer to keep me up to date. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 12, 2012 Doug, I couldn't agree more. All this legistation is nothing more than yet another tax on citizens under the guise of consumer protection. How do I keep up with it all? I'm stockpiling gold and guns. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted January 12, 2012 I had the local yocal taxing authority contact me, out of the blue, saying I owed them $17,000. in past taxes for my rental business. After contacting them, they were using the letter as a scare tactic. After a phone call, I now pay taxes on all the appliances in each rental unit that I own. After depreciation it comes to about $8. to $10. a year. Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 13, 2012 $17K down to $8? Your government needs you when they negotiate the next treaty with Russia. Share this post Link to post Share on other sites
<Steve> 82 Report post Posted January 13, 2012 It's not what you know. It's what you say when you don't know. Or something like that. I remember speaking with this lady at the tax place, and she seemed really disappointed that they couldn't get more out of me. They didn't realize that I was just a single joe, doing my thing, and not some large real estate office. Share this post Link to post Share on other sites
pilot76180 51 Report post Posted January 13, 2012 HOLY COW STEVE!!!That is freakin ridiculous!!!!Some cities in an effort to maintain the standard of living require an inspection from the city before a tenant moves in. I guess they "track" it when an order comes in to switch the water...I guess. Share this post Link to post Share on other sites
randian 0 Report post Posted January 15, 2012 Some cities in an effort to maintain the standard of living require an inspection from the city before a tenant moves in. I guess they "track" it when an order comes in to switch the water...I guess."Maintain standard of living" Yeah, I believe that. If that's what they're doing, then order the water yourself (no change for new tenants and advertise "water included") Share this post Link to post Share on other sites
pilot76180 51 Report post Posted January 16, 2012 Some cities in an effort to maintain the standard of living require an inspection from the city before a tenant moves in. I guess they "track" it when an order comes in to switch the water...I guess."Maintain standard of living" Yeah, I believe that. If that's what they're doing, then order the water yourself (no change for new tenants and advertise "water included") That's not a bad idea!I think the city I'm thinking of charges..$100 or something per inspection..course, it's a crap hole WT city...I don't even market there, as I loathe driving thru it. The whole city is a rental. Share this post Link to post Share on other sites
Doug Pretorius (ON) 9 Report post Posted January 17, 2012 course, it's a crap hole WT city...I don't even market there, as I loathe driving thru it.Your tax dollars...hard at work. Share this post Link to post Share on other sites
Dmcdonald 0 Report post Posted January 17, 2012 ... The whole city is a rental. "CITY FOR LEASE OPTIONNO BANK QUALIFYING8,725 BEDS, 10,225 BATHS30% RENT CREDIT!" Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 17, 2012 ... The whole city is a rental. "CITY FOR LEASE OPTIONNO BANK QUALIFYING8,725 BEDS, 10,225 BATHS30% RENT CREDIT!" . . . Share this post Link to post Share on other sites