Managing our Calgary home from Ontario | Step by step process 🛠️

[@RR-tf8ic]

Every minute spent on your channel is worth it. I learn something new every time !

[@Potatotalkies]

Thank you 😊

[@Amiralyb]

To your point for TIPP: if mortgage provider/lender pays property taxes on your behalf they do collect it in your mortgage payment. But if the property tax is due and they have not covered the enough amount from they will charge you interest on remaining payment (though its not significant) but interest factor is there. But in the case of over contribution of property tax to the bank, they will not pay you interest on it. So its one way. I hope its helpful.

[@Potatotalkies]

Yes true…

[@karanbirshah6596]

You are born to be youtubers guys. Keep up the charity work. Make a video on rights and duties of tenants vs owners (legal point of view also) in Ontario as well as Alberta, if possible.

[@Potatotalkies]

👏👏

[@jasminekaur9096]

Superb and informative just like every video of you guys! Just one thing, you can also get the property management fee waived for a year if you register with a reputed firm. Saying this from personal experience because they waived off PMF for a few clients for a year. All the best to you for new house!

[@Potatotalkies]

Good one, thank you 😊

[@janhaviwagh9753]

Any property management company that waives fees would you suggest

[@murtazak.7082]

Thank you for this very informative video. All the best for your future projects.

[@sarikbansal3369]

Hi Guys, great video and thanks for sharing your experience and information. If you could help me with few questions please? 1.Does property manager help with the tenant search also in their monthly fees ( like 8% in your case )? Or the tenant search fees is separated from management fees ? 2. If they help with tenant search then as a landlord do we need to give 50% of per month rent to property management and rest to buyer realtor (in case be ) ?

[@abhishekkhosla3186]

hi I watched your video on numbers but it was when the interest rates were low can you please make a video on numbers will this investment be cash positive

[@suryaprakashams]

Hi congratulation on the new house, i have bee following you guys for quite some time. i saw that you arrived during covid times. I just wanted to understand if a new (immigrant) person is coming for rent how does this process work.

[@manmohansingh-mc1mu]

What is the average rental yield in canada's major towns and comaprison vis indian major cities. So if you can make a video on that can be great

[@shivankkumar7196]

Just wanted to check if you guys are able to cash flow positive in Calgary in current situation when the interest rate are pretty high..As you know it’s pretty difficult in Ontario at this point of time..

[@Potatotalkies]

Yes: $250/ month positive at 5.9% interest rate

[@REVIEWSONTHERUN]

Thank you for sharing it ✌️

[@sanjeevmathur8603]

Property manager will take 8% of the total rental or just the upper floors

[@tel4561]

How about snow cleaning service and only street parking for tenants ? I dont see garage either

[@Potatotalkies]

There is a parking pad at the back… Snow cleaning will be done by the tenant

[@nimisri2848]

Hey your videos are very informative and recently bought the property in Calgary may I know the name or reference of the property management company I want to discuss with them Thank you

[@Potatotalkies]

Thanks… pls check the description.

[@ankitaahuja111]

Whats the cost for blinds in Calgary, can you please share that I need that urgently. Thanks so much 🙏

[@Potatotalkies]

$2000 Nunber to the blinds guy in the description :)

[@ankitaahuja111]

Oh that’s steep. This includes estimation and installation? How many windows were there?

[@Potatotalkies]

@@ankitaahuja111 17 windows… it’s a duplex with a basement suite.. so more windows And went for mid quality zebra blinds.. didn’t want to go basic Includes everything - estimation and installation.

[@yh-sf5wg]

Thanks for this video!!! What about the property insurance? Is that something you are paying or will the tenants be paying for it? And, is the home in your own personal names or did you'll transfer it to a LLC to limit liability?

[@Potatotalkies]

It’s in personal names. We will pay the home / fire insurance. Tenant will have their own tenant insurance

[@bepositive370]

Hi just wondering what is the average rent for the area? Only asking for a ballpark number?

[@Potatotalkies]

For 3 bed 2.5 bath - around $2300 For 1 bed basement - around $1100-1200

[@saleemburfat]

Those are excellent tips guys great information . from Pakistan, Karachi

[@Potatotalkies]

👏

[@sukiratgill5882]

Hi sir! Please make a video on probable processing times after ITA on the basis of the intel from all those individuals who received their ITAs last year in July/Aug/Sept.. so that we can get a rough idea as to what are the average processing times these days..! It’d be really helpful.

[@jeevanjoshi1070]

Is neighboring semi detached house alloted to your business partner?

[@Potatotalkies]

No… it’s another buyer.

[@ankitaahuja111]

Don’t use leasewell of rentwell company for property management

[@ranjandudeja1984]

what's the TAX on rent, in ur previous video of 0 Calgary property..

[@Potatotalkies]

Tax depends on your income and the expenses incurred full year which we will know by year end.

[@ranjandudeja1984]

@@Potatotalkies so can't be a 0 dollar home.. for example, if the rental income is $38,400 ( basis the figures mentioned in the video).. if the person is salaried.. this income would come under the 20.5% + province tax bracket.. expect approx 3 months of rent going in tax?

[@raghavgrover6436]

If you're renting the entire property- all of the mortgage interest(which is huge could be close to 20k at current interest rate for this house) , property taxes(around 4k here in Seton) home insurance , property management fees , any money spent on repairs can be used to write taxes off which is a significant amount and lowers your tax bill on rent to almost 1 month of rent

[@ranjandudeja1984]

@@raghavgrover6436 ths great.. I didn't knew abt it.. thank you... seems something similar to India... a small example.. 70% of the rent is taxable

[@akhere4279]

Did you pay for single key verifications yourself or did you ask potential tenants to pay this ?

[@Potatotalkies]

We paid for it

[@HARDYMANGAT]

Answer is don't live in rented property simply buy your own place. And all those formalities will be gone ✅

[@Polarpenny182]

Nice video

[@ramanpreeetsingh9247]

Sir can you guide for student how to find part time job in london ontario

[@srmashwani]

Ppl buying multiple properties cause house rates to go high and first time buyers can not enter the market because of this behaviour.

[@gauravsinghkhanuja5156]

Great Video

[@Potatotalkies]

Thank you 😊

[@jaysabraham]

I am planning to shift to Calgary from Dubai... I have a PR but no job as of now... planning to move in with my family of 4 people. Is it possible for us to rent out your place... we have the resources to pay the rent and security deposit...

[@Potatotalkies]

Sure, can you email me at [e-mail]

[@rohanutep81]

@@Potatotalkiespassive income❤ aane do aane do !!

[@preet476]

I am regina I am thinking to buy home in calgary but I am afraid it's good or not

[@rekhadas3911]

Basement and main floor rent please.

[@Potatotalkies]

Basement - $1000 Main floor - $2300

[@rav4]

Your video quality specially lighting and camera along with the content has improved a lot. Congratulations.

[@Potatotalkies]

👏👏

[@SS-sv4gg]

Nice and detailed video 👍🏻

[@Potatotalkies]

Thank you 😊

[@sandeepkhairah5887]

Thanks for Sharing very informative video. I also bought home in Calgary few months ego . Your knowledge and information give me excellent tips How to manage my home . Thanks again

[@Potatotalkies]

👏

[@md.monowarhossaindipu8873]

Hello, I have query and I am not getting proper answer for it. Requesting for your support. IRCC has rejected my PR application as to incomplete application on 10 January'23. In the letter they have mentioned that, refund will happen & new profile to create for further apply. Do I need to make any refund request or it will come automatically? Plz 🙏

[@Potatotalkies]

It should come automatically. You can raise a webform too.

[@Raj-xk4on]

👍

[@sabiralihurain]

😀

[@arpitsinghmanocha]

Best wishes to you!! You gonaa soon reach to 200k🎉🎉🎉 And one query😢 does property manager keeps a regular check on the condition of house.. or its done at the end when tenant leaves considering damage deposit🫡

[@Potatotalkies]

Yes - usually in the end.. but you can give a 24 hour notice and inspect the property if the tenant allows.

[@kenryu364]

Oh here we go, Ontarians that want to ruin it for Albertans.

[@canadianjatti]

we will be fine lol

[@nonu417]

You have explained the details very nicely. Nobody else has ever told these things earlier. Thanks for sharing this information. 🙏🙏😇😇

[@Potatotalkies]

Thank you 😊

[@AmandeepMukerian]

Nobody here is dudh ka dhula. I will tell you my friend's experience of renting basement as landlord was kamina. He intentionally said no while checking reference because He had to leave his basement after 4 months due to job location shift with full procedure followed as per landlord still he didn't give good reference. So don't rely too much on previous landlord reference as nobody is as fair as you guys.

[@hakamsingh4679]

Thanks for sharing. You both are great, i really feel you guys are fulfilling “Vand ke chakna“ the golden rule of Guru Nanak Dev ji by sharing your experience and knowledge with others. I wanted to discuss with Navjot investment opportunities in Calgary.

[@Potatotalkies]

Thank you :) Just book a call from www.growwithnav.com or send an email to [e-mail]