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New money from old

Thursday, October 08, 2015 @ 8:00 PM | By Joe Hoffer

Buying properties, giving them a major facelift and re-selling them based on their increased value is a common investment strategy of real estate developers and investors. The value of apartment buildings is dependent on income, so to increase value you need to increase net income. Ontario’s Residential Tenancies Act (RTA) is rife with rent control rules designed to prohibit or restrict increases in revenue. Lawyers who fail to properly advise apartment-investor clients of the legal barriers to achieving their investment goals risk liability in contract and...