Landlord Representation - Tribunals & Due Diligence
Our Services
SPAR has experience and expertise in three distinct and separate disciplines in rent regulation and recovery of capital expenditures, tax assessment and appeals, and acquisitions / due diligence.
Landlord and Tenant Board Applications - Rent Increases & Reduction Variances
Rent control across the province of Ontario is a highly regulated and complicated section of the Residential Tenancies Act (RTA). It can be difficult to determine what may be considered eligible under the RTA to seek a rent increase above the guideline. Our company offers effective strategies and professional expertise when representing clients' interests in making above guideline increase applications to recover capital expenditures and extraordinary increases in municipal taxes.
Along with increases there are also provisions in the legislation that allow cities in Ontario to issue mandatory rent reductions to tenants when property taxes have been reduced from one year to the next. SPAR reviews these reductions to determine if they are warranted, and if they are, whether the percentage of the reduction is accurate.
In addition, we prepare a thorough defense for our clients in order to counter tenant allegations of substandard maintenance, interference with reasonable enjoyment and reduction of services should this type of application be filed against you.
Property Assessment and Taxation
The government of Canada has continued their practice of determining property values over a four-year cycle. Commencing January 1, 2017, values will be determined based on a valuation date of January 1, 2016 for the period 2017 through 2020. Any increase in assessment will be phased in over this four-year period. The Municipal Property Assessment Corporation has valued all properties across Ontario using one of the three valuation methods: Income, Cost & Direct Sales Comparison.
SPAR carefully reviews the assessed methodology applied to each property to determine if an appeal should be filed to reduce the assessment.
Due Diligence Reports
The verification of material facts prior to making a major investment is an undertaking that is regarded as an intrinsic part of the purchasing process. Our investigation of multi-residential properties is detail oriented and meticulous. We understand that our clients need to have a true perspective of their investment. SPAR realistically determines the suitability of the property in response to the client's expectations.