Commercial Investor - Ontario - February 10, 2024

Featuring: Commercial•Industrial•Franchise+Business Opportunities

FREE

February 10–March 9, 2024 Volume 24 | Issue 2

Full Coverage Area Including: London • Kitchener • Niagara Falls • Hamilton • Toronto • Ottawa

WHAT WILL YOUR FINANCIAL LEGACY LOOK LIKE IN 5-10 YEARS?

**RESTAURANT IN PRIME LOCATION FOR SALE** Nestled in the heart of Toronto, this restaurant is strategically positioned to attract both locals and tourists alike. With a fantastic street-front patio and a cozy interior. 5400 Tmi + Rent. 1800 sq. LLBO. FOR INQUIRIES CALL 647-637-1212

FOR SALE - 2 APARTMENT BUILDINGS - SW ONT

GET YOUR PLAN IN PLAY REAL ESTATE IS KING! THE A-TEAM HAS ALL THE ANSWERS

CALL NOW! 416.705.7507

BOBAIREY@ROYALLEPAGE.CA

$$$$$$$$$$$$$$$$$$$ ICIWORLD.COM

For Sale: 2 High rise Apartment Buildings 1 Building is brand new and is recently being rented and is 49 suites. The second building is identical and is across the street for a total of 98 suites. The 2 buildings are located in SW Ontario.

Exclusive Listing.

For income and expense proforma contact: WINSTON DAVIES, BROKER OF RECORD WINCORP REALTY INC. REAL ESTATE BROKERAGE GUELPH, ON TEL: 519-836-2080 EMAIL: wjmdavies@rogers.com

$1 BILLION OF SALES

IC

WANTED

“CONDO TITLED” PROJECTS AND MORE � TOWNHOUSE PROJECTS � WALK-UPS � SEMI-DETACHED � BUILDERS WANTING TO SELL UNITS IN BULK � ALREADY BUILT AND RENTED � CITIES & TOWNS OUTSIDE OF TORONTO � QUICK CLOSE

CONTACT GINO 416.816.4360

genegiordano88@hotmail.ca PRIVATE INVESTOR

2

$5,200,000

103 EMERALD STREET SOUTH, HAMILTON

Well maintained 30 unit apartment building.

1 bach, 23 one bdrm, 6 two bdrm. Several recent improvements including roof, windows, doors, boilers, hot water heaters and more. One passenger elevator. Surface and podium (rear) parking. Professionally managed. Fully rented.

Excellent location. Well maintained. Exclusive.

CALL NEIL KOEBEL

$2,400,000

51 WOODLAWN RD W, GUELPH

6,700SF Plaza situated on 1+/- Acre lot zoned C4-48 on major artery in Guelph directly in front of Walmart/Smart Centre. The building consists of 5 fully rented units with 1,600SF of basement space, plus additional income from Bell Communication tower at the rear of the property. Other features include 5 drive in doors, 9’10 ceiling height, plenty of onsite parking, on public transit line, great exposure.

CALL RYAN BRIGGS

$1,900,000

480 VICTORIA STREET NORTH, KITCHENER

UND

E

1.796 acres of Commercial Land available for sale. Located on the North side of Victoria Street North between Lancaster Street West and Conestoga Expressway. High traffic artery.

Located on public transit route. C-6 zoning allows for a variety of permitted uses some of which include tradesman and contractor’s establishment, commercial parking facility, convenience retail, repair service and more.

Utilities located at the street. MLS

T TRAC N O RC

CALL NEIL KOEBEL

$1,595,000

11 BELMONT AVE W, KITCHENER

Live/Work Duplex recently renovated in AAA Location on 2 public transit lines. 3,600SF building w/ 3 dedicated entrances, currently with spa/clinic layout on lower 2 levels and a 4 bdrm residential home on upper 3 levels. Featuring 13 recently paved parking spaces, fully fenced back yard area, new furnace & A/C, water purifying system, air exchanger, security system, brand new kitchen and much more! MLS. CALL RYAN BRIGGS

$559,900

101 GOLDEN EAGLE ROAD, WATERLOO

Attention investors! Assignment sale of brandnew unit in North Waterloo. 583 sqft 1 bed + DEN 3rd floor unit with balcony and one surface parking space in The Jake Condos. Stylish upgrades with modern features and finishes.

Amazing location in Lakeshore North Waterloo, centrally located steps away from all amenities.

CALL RYAN BRIGGS

KITCHENER, ONTARIO

519.578.0337

NEIL KOEBEL

RYAN BRIGGS

Broker of Record

Sales Representative

CELL: 519.741.6594

CELL: 519.498.5775

Neil@cmarealty.ca

Ryan@cmarealty.ca 3

Industrial Specialists Let us show you what our clients have been enjoying and you’ve been missing.

1.800.914.7510 spearheadpm.com | info@spearheadpm.com

FOR SALE

40% SOLD!!!

LEASIDE COMMERCIAL LOFTS

THESE TYPE OF UNITS NEVER LAST

UNITS STARTING FROM $549,000 JOHN ROBB Sales Representative Vice President Commercial Division j.robb@bosleyrealestate.com

416-440-0056

• • • • •

36 EMPLOYMENT ZONED CONDO UNITS EVERY UNIT HAS A LOADING DOOR 1,300 SQ.FT. AND UP, FROM $410/SQ.FT. 2023 Q4 OCCUPANCY WALK TO LEASIDE RETAIL AMENITIES AND LAIRD/EGLINTON LRT STOP

•

SUITS: OFFICE, WAREHOUSING, CONTRACTORS, LIGHT MANUFACTURING, SERVICES.

• • • • •

OPEN CEILINGS LARGE WINDOWS 2 PIECE ROUGHED-IN ALL UNITS HAVE SHIPPING DOOR ACCESS 60 AMP 120/208 VOLTS ELECTRICAL SERVICE COMMON GARBAGE AREA, PRIVATE PICK-UP LOW COST CONDOMINIUM MANAGEMENT

• •

103 Vanderhoof Avenue Toronto, Ontario M4G 2H5 BOSLEY REAL ESTATE LTD., BROKERAGE RESPECTS THE CONTRACTS OF ITS COMPETITORS.

4

www.teammilovick.com

519-747-2040

Wolle Realty

BROKERAGE INDEPENDENTLY OWNED AND OPERATED

7A-180 Northfield Dr W Waterloo, ON N2L 0C7 | Fax: 519-747-2081

Mike Milovick B.B.A., CCIM, Broker mike@teammilovick.com

Jennifer Shingler

www.TeamMilovick.com

Sales Representative jenn@teammilovick.com

Invest in Ontario’s Number 1 Town Today!

Subscribe: Latest KWC Real Estate News: www.FaceBook.com/TeamMilovick

90 STUDENT BEDROOM PORTFOLIO

172 Regina Street North, Waterloo

BROCHURE

195 Erb Street West, Waterloo

BROCHURE

$4,800,000

$318,900+ Effective Gross Annual Income Available Here! Modern, Purpose Built Eightplex steps to WLU’s Science Building and Athletic Building! Throw a football and hit campus from here! Prime Prime Prime Location. Written leases.

Exceptionally well-maintained, owner-managed rental operation. Separate electric and gas meters. Two full bathrooms per unit. In-suite laundry. Large common areas. All tenants on written lease. This is a Cash flow positive opportunity based on contemporary financing. Nothing to do here but collect good rents – with a further opportunity to increase income even more on re-rental! This is ideal for the veteran rental housing service provider that takes great comfort in operating buildings that are in extreme proximity to campus. Owned/enjoyed by same investment group for last seven years.

MLS®

UNDER T CONTRAC 110-116 Erb Street West, Waterloo

BROCHURE

$1,999,800

Compelling Opportunity! Two buildings situated on three lots in perhaps the most exciting area in Waterloo! Looking for live-work space with income and parking? Or perhaps an infill project/redevelopment site? This site truly has it all. Situated steps to Waterloo Park’s LRT station (about 100 meters) and in front of the Barrel Works Development, this IS the most intriguing site in Waterloo on the market. Uptown Waterloo, with its shops and nightlight, Waterloo Park and Waterloo Rec Centre are quick walks away. Both universities are accessible by LRT - just a stop away!

116 Erb is a mixed use building featuring commercial on main floor and a residential unit above. This building could be ideal as live-work space - in a very convenient, very high-profile area. 110-114 Erb presents as a triplex and was previously rental licensed. MLS®

MLS®

7 Elgin Street, Waterloo

BROCHURE

$3,700,000

Nearly $240,000 Effective Gross Income Available Here! With opportunity to increase rents by additional 20% in next rental season. This modern sixplex apartment building features spacious units with oversized bedrooms, and massive common areas. Two full bathrooms per unit with in-suite laundry. This opportunity is owner built and owner managed - and it shows. Very clean, professional, organized, turn key operation. Individual meters for electricity and gas. Ample parking with most of the spots covered. Great central location with close proximity to University of Waterloo, Uptown Waterloo, Waterloo Park and TNT Grocery Store.

Rental-licensed exempt building! Investor work sheet with full financials applied to contemporary financing available! Solid investment opportunity in one of the Perennially Best Towns in Ontario to Invest In! Prepare to be impressed.

$2,400,000

$164,400 Effective Gross Annual Income Available Here! Invest in a Rare and Profitable Fourplex Near All of Waterloo’s Post-secondary institutions. This is your chance to own a purpose-built, fourplex apartment building in a prime location. It’s just steps away from Wilfrid Laurier University and Uptown Waterloo and a short walk to Conestoga College and University of Waterloo. You’ll never have trouble finding tenants for these spacious and modern units. Each one features five bedrooms, two full bathrooms, and a large open concept kitchen-living room as well as in-suite laundry.

Note handicap access, controlled entry and individual electrical and gas meters. Each unit has its own high efficiency furnace and air conditioner for optimal comfort. This is a quality-built, turn-key rental operation that is exempt from rental licensing.

MLS®

311 Spruce Street, Waterloo

BROCHURE

$1,499,800

Nearly $112,000 Gross Annual Income Available Here with more upswing available! This triplex building is located just a two minute walk to Wilfrid Laurier University, a quick walk to the vibrant amenities of Uptown and an easy walk to University of Waterloo. All units have generously sized common areas and spacious bedrooms with individual temperature control. Thoughtfully designed with a compelling unit mix of 3, 5, and 6 bedroom units. Ample parking. Note individual electrical meters! Roof done in 2022! This money maker will work well for: savvy investor looking for a foothold in lucrative Waterloo rental market, parent investor that seeks the ultimate location for their university bound child or even a university employee that wants to live close to work and generate mortgage helper income through the other units.

MLS®

View Brochures Online at www.thecommercialinvestor.ca 5

$589,000

$3,500,000

13 SHERRING STREET N, HAGERSVILLE

1289 HIGHWAY 54, CALEDONIA

Solid conc. block constructed church located in Hagersville. Versatile building on 66’x132’ lot incs private & street parking. Welcoming 140sf foyer introduces 4174sf of main level space highlighted w/1867 worship sanctuary ftrs hardwood flooring, 13.5 ceilings & wooden pews, 702sf worship overflow space, board room, 2pc bath & rear foyer. Lower level offers 800sf fellowship hall, fully equipped kitchen, 2 sep. 3pc baths, large nursery, minister’s office, 5 meeting rooms & 2 utility rooms.

Established GRAIN ELEVATOR/SEED CLEANING FACILITY incs 51.09ac property, century home w/in-law addition, 2 grain elevator receiving pits w/tower grain dryer & 80’ truck scale, 340,000bu bin storage, add. 60,000bu of Quonset storage (400,000bu total) w/extra storage at seed cleaning facility. Various sized buildings allow for add. storage. Used for round-up ready soybeans -can be converted for cleaning non-GMO soybeans. Precision cleaning capacity 8MT/hr - treating capacity 20MT/hr. 28ac of tiled workable land, natural gas & 400 amp hydro w/phase converter.

$1,695,000

$6,900,000

9718 CONCESSION #1 ROAD, WEST LINCOLN

5363 AIRPORT ROAD, MOUNT HOPE

34.45ac rural property enjoying over 1000ft of quiet non-thru road frontage bordering Chippewa Creek. Slow winding lane carved thru lush soy bean fields leads to magical, secluded setting where a beautifully maintained 2579sf brick bungalow incs orig. 1974 section & 1997 addition.

All barns/outbuildings ftr recently painted metal roofs incs 30x60 Coverall building, 30x24 pine board garage/shop, 30x45 hip roof barn w/16’ wrap-around lean-to, conc. former feed-lot area + 30ac of fence-row free workable land. Extras-oil tank 13, AC, roof ’22, 6500g cistern, barn well & Andersen windows.

RARE 194ac parcel of land w/frontage on Airport Rd & White Church Rd. Incs 2 dwellings, 5048sf building, 4991sf barn & 175ac workable/tiled land (rented yr/yr @ $129 p/ac).

Dwelling#1 (2473sf) offers 3 bedrms/2 baths, ins/htd garage addition - Dwelling#2 (1226sf) ftrs 2 bedrms/2baths. Both houses inc roofs’13, water purification’20, sep. wells/septic & 100 amp. Located in general area where proposed future Red Hill to White Church Rd/Airport & Glover Rd expansion may occur - pipeline ROW dissects property-potential severance. By appointment only.

$455,000

$95,000

19 RIDOUT STREET W, TILLSONBURY

209 CHESTNUT STREET, DUNNVILLE

Exceptional office building boasts a strategic location in this busy town, two spacious office areas with welcoming waiting area, a fully equipped kitchen, and a versatile meeting hall on the main level. Additionally, the basement area offers multiple rooms that can be customized to suit your unique needs. Don’t miss out on the chance to establish or expand your business in this fantastic location.

Vibrant restaurant business in heart of Dunnville’s downtown, ex. visibility & hi-volume of daily pedestrian traffic. “Small Dimensions” - renowned for outstanding, healthy food w/no additives or preservatives incs steady/loyal clientele base. Ftrs large foyer providing entry to 810sf dining area, 10ft ceilings accommodating 46 patrons & fully equipped 400sf comm. kitchen. New Buyer/Tenant to negotiate long term lease w/Landlord - all leases to inc permission to use 2 clean washrooms in secured adjacent common area. 2-4 parking spots & street parking. Viewings by appointment only - do not enter during business hours.

6

unique investment opportunity

Land deveLopment opportunity

east HamiLton

tHoroLd

8 spacious condo townhomes for sale. All 3 bed,1.5 baths, walk-out basements, private courtyards and attached single car garages. Units fully tenanted and being sold in a bundle, making this a unique investment to add to your portfolio. Tenants pay own hydro, 4+2 visitor parking.Roof reshingled 2020, electric heat throughout, no central air, 8 owned water heaters,windows approx10-12 yrs. There is possibility to add additional units on the approximate 31,000 SQFT. $3,800,000

Future development possibilities in this 4.798 Acre parcel of land that borders Welland/Thorold. Adjacent property, in Welland boundary, is zoned low density residential.

Property is close to Brock University Campus (15 Minutes), Niagara College (1km) new residential developments, plaza for shopping and all amenities and close to highway Access. Land only for sale. Current zoning FD - EP2.

Contact for more info. MLS H4117393. $3,225,000

7

Flexible sizes up to 100,000 sf and up to 4.5 acres outdoor parking/storage 7551 Jane Street, Vaughan

ET E LECR

MAP

PEEL

T

REE

E ST

JAN

AR

–

D ROA

R OA D

–

Four bays of approx. 21,000 sf plus 2,500 to 5,000 sf of common area, office and storage areas Ceiling heights - 15’ to 25’ clear

Get more information

Kyle Albert Sales Representative 905 968 8029 kyle.albert@avisonyoung.com

– – –

Column free Two oversized drive-in doors Access from frontages on 3 roads

Matt Gunning, SIOR Broker | Principal 905 968 8003 matt.gunning@avisonyoung.com

SCAN ME Mark Sullivan Sales Representative 905 968 8010 mark.sullivan@avisonyoung.com

© 2023 Avison Young Commercial Real Estate Services, LP, Brokerage.

PREMIERE DISTRIBUTION NETWORK

GET ACCESS TO A HIGHLY TARGETED NETWORK AND INCREASE THE VISIBILITY OF YOUR BRAND.

FOR ADVERTISING INFORMATION CONTACT: 1.888.761.3313 info@thecommercialinvestor.ca | thecommercialinvestor.ca 8

Joe Pandolfo Chief Executive Officer 416 887 3661 jp@odevelopments.ca

contents 10 14 18 20 24

Get the right type of insurance for your business Ten questions to ask before choosing a foreign sales agent

NEXT ISSUE:

March 9, 2024 ADVERTISING DEADLINE:

February 28, 2024 GROUP SALES MANAGER Randi Segal

Copyright trolls: Know your obligations

1.866.536.2606

randi.segal@mediaclassified.ca TO ADVERTISE Chris Bosnich

The business of businessto-business moving

1.866.532.2609

chris.bosnich@mediaclassified.ca PRESIDENT & PUBLISHER Leo Racioppo leo@mediaclassified.ca

Renting out your condominium

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REGIONS Kitchener, Waterloo & Guelph.........12 Southwestern Ontario.....................21 Greater Toronto Area......................22 Eastern Ontario...............................23

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HOME OFFICE 610 Applewood Crescent, Suite 103, Vaughan ON L4K 0E3 T: 905.761.3313 press 5 Toll Free: 888.761.3313 press 5 F: 905.761.5038 E-mail: info@thecommercialinvestor.ca Website: thecommercialinvestor.ca Copyright Notice All copyright and other intellectual property rights in the contents hereof are the property of Commercial Investor, and not that of the individual client. The customer has purchased the right of reproduction in Commercial Investor and does not have the right to reproduce the ad or photo in any other place or publication without the previous written consent of Media Classified Corporation. Contents of this publication, in hard copy format as well as online, are covered by copyright law, and offenders will be prosecuted.

Copyright 2024. All rights reserved. Reproduction, storage in a retrieval system or transmission, in any form or by any means, whether electronic, mechanical or otherwise, in whole or in part, without prior written permission of Media Classified Corporation is strictly prohibited.

Get the right type of insurance for your business

Your business may have many assets: Vehicles, office space and equipment, inventory, an indispensable employee or partner and, most importantly, yourself. To protect these assets and to protect your business from potential risks, you should consider getting insurance.

All businesses take some risks, but taking too many risks or failing to protect yourself does not make good business sense. Could your 10

business survive if one of the partners dies or becomes disabled?

Would you have sufficient cash on hand to deal with any business

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

emergency that could arise? In many cases, the answers to these and other questions about risk is “no”.

Insurance needs vary greatly and it is best to get advice from an insurance broker or agent who is familiar with your specific type of business. The following are different types of insurance that may apply to your business.

Insurance for owners, partners and key employees The loss of a key person can devastate your business and your February 10–March 9, 2024

livelihood. These types of insurance can help protect your business and your family from potential risks: • Life insurance — Protects your family in the event that something happens to you. This is especially important in the case of a sole proprietorship, because the owner is personally liable for all the debts of the business.

• Disability insurance — Will provide you with income for a specified period of time, if you are unable to work due to an injury or illness.

• Partnership insurance or buy-sell insurance — If your business partner passes away, partnership insurance will allow you to purchase the shares and continue running the business.

• Critical illness insurance — Provides you with a lump sum benefit, if you are diagnosed with a critical illness.

• Key person insurance — If you rely on certain key people to help run your business, protect yourself against the loss of these key employees.

Speak to your accountant to find out which of these are deductible as business expenses and which ones you will need to pay for yourself as an individual.

Insurance for business property and earnings

You need to protect your assets and earnings in the event that a disaster or emergency destroys part or all of your business premises and assets. This could include: • Property insurance — Property insurance will cover the property and buildings owned by your business in the event of destruction or damage due to things like fire and other perils.

• Contents insurance — This covers assets that you store at your business premises. If you are leasing space for your business, the owner of the property probably has property insurance, but you are likely responsible for your own contents insurance. If you run your business out of your home, you February 10–March 9, 2024

will likely need separate contents insurance for your business assets.

• Business interruption insurance — If you need to shut down your business temporarily due to a fire or other peril, business interruption insurance will cover your loss of earnings until you are back in business.

• Vehicle insurance — You will need to insure any vehicles that your business owns. If you use personal vehicles for business purposes, be sure to advise your insurance company.

Liability insurance

Mistakes happen. You, your employees, your equipment or your suppliers could be the cause of mistakes that ultimately end up hurting your customers, your employees or other people who are involved with your business. To protect your business from being sued, you should consider these types of insurance to limit your liability: • General liability — Covers injury to clients or employees on your premises • Product liability — Provides protection in the event that your products are defective or cause serious harm to those using them • Professional liability insurance — Provides protection if you are sued by a client for errors, omissions or negligence, when performing professional services • Cyber liability — Protects in the event of a lawsuit stemming from an electronic security breach involving compromised personal or commercial information. Can include situations relating to the theft of devices containing organizational, client, employee, or similar data.

Accounts receivable insurance

Having a client that does not pay can leave you in a difficult situation.

You need to protect your assets and earnings in the event that a disaster or emergency destroys part or all of your business premises and assets.

You have to pay your employees and suppliers, and are essentially stuck covering the costs of goods sold, without the corresponding revenue. Accounts receivable insurance, also known as credit insurance, can help protect you from this risk, when a client goes bankrupt or refuses to pay.

The risks are often greater when dealing with export markets. The government offers export insurance to cover a variety of risks including accounts receivable insurance.

Health insurance

Providing a health insurance plan for employees can be a key factor in recruitment and retention of employees. You can talk to an insurance broker or company about group plans covering supplemental health and dental benefits for your employees.

Get the right insurance for your business. Making sure you have the correct business insurance can provide peace of mind. To discuss your business insurance options, contact an insurance representative to find or develop a plan that is right for you and your business. You may also wish to contact your local chamber of commerce or industry association, as some organizations offer members lower rates on their business insurance. CI Source: Canadabusiness.ca

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

11

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

519.742.7000 www.coupalmarkou.com

SALE

SALE

10,12,14 ROSEDALE AVENUE, KITCHENER

D L SO

• 3 well maintained buildings with 17 units total • 11 one-bed, 5 two-bed, and 1 bachelor unit • Recent capital improvements • Data room available

SALE

• 19 parking spaces • Located next to public transit and Hwy 8 • $3,060,000

63 COURTLAND AVENUE E, KITCHENER

SALE

• Commercial/Residential redevelopment land • Sold “as is where is” • 1.575 acres • $4,995,000 MLS

SALE

• Pristine and ready to occupy • On-site parking • Newly renovated interior and exterior • 6 private offices

EXCL

John Markou

Broker of Record, Principal christopher@coupalmarkou.com 519-742-7000 x 101

Broker, Principal john@coupalmarkou.com 519-742-7000 x 102

• High traffic exposure • Close to many amenities • $1,319,000

SALE

647 KING STREET W, KITCHENER

Christopher Coupal

• Converted office building in prime Uptown Waterloo location • Reception and 6 private offices MLS • $1,275,000

21 KING STREET N, WATERLOO

• Prime investment opportunity • Main floor approx. 1,800 sq ft leased to tenant • Second floor approx. 1,000 sq ft of two 1 bed units with month to month rent

• High visibility corner location • 2 floors of office space, kitchenettes and bathrooms • $1,195,000

45 ALLEN STREET W, WATERLOO

MLS

EXCL

1795 & 1805 SAWMILL ROAD, CONESTOGO

• Great redevelopment opportunity • Rezoned C-3 with site provisions • Approx. 3.59 acres

• Partially renovated and upgraded • $2,495,000 EXCL

CONNECT

The information set out herein is for advertising purposes, with information obtained from sources deemed to be reliable. No warranty or representation is made as to its accuracy, correctness and completeness of the information, being subject to errors, omissions, conditions, prior sale/lease, withdrawal or other changes without notice. Coupal Markou Commercial Real Estate Inc., Brokerage

12

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

February 10–March 9, 2024

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

519.742.7000 www.coupalmarkou.com

LEASE

136 KING STREET S, WATERLOO

• Fully demised office space • High visibility/Uptown Waterloo • 2 Parking spaces • 3,590 sq ft • $18.50/sq ft net

LEASE

960 VICTORIA STREET N, KITCHENER

• Robust exterior with large bay doors • Industrial/service space with storage • Abundance of parking • 28,738 sq ft • $13.50/sq ft net

LEASE

L

MLS

VICTORIA STREET N, LEASE 10 – 1373WATERLOO

LEASE

• Retail unit near Bingemans Centre Dr • Newly updated exterior and roof • Great street visibility, signage, and storefront • 7,627 sq ft MLS • $14.95/sq ft net

• Plaza nestled nicely in the centre of student residences • On-site parking and excellent visibility • 1,318 sq ft MLS • $28.00/sq ft net

LEASE

MLS

7 GRAND AVENUE, CAMBRIDGE

B2 – 490 DUTTON DRIVE, WATERLOO

• Excellent North Waterloo office space • Built out offices and air-conditioned shop area • Signature development • 2,035 sq ft • $11.50/sq ft net MLS

LEASE

301 – 55 ERB STREET E, WATERLOO

LEASE

10 – 465 PHILLIP STREET, WATERLOO

111 – 7 GRAND AVENUE, CAMBRIDGE

• Retail/Service commercial space • High vehicle and foot traffic • Down the street from gaslight district • 849 sqft • $21.95/sq ft net

LEASE

MLS

722 BELMONT AVENUE W, KITCHENER

D E S EA

• Service commercial/office space • Wide range of uses with-in zoning • 1,359 sq ft • $19.95/sq ft net

MLS

• Office space with excellent visibility • Utilities included in additional rent • Abundance of natural light • 1,889 sq ft • $16.95/sq ft net

Christopher Coupal

John Markou

Broker of Record, Principal christopher@coupalmarkou.com 519-742-7000 x 101

Broker, Principal john@coupalmarkou.com 519-742-7000 x 102

MLS

• Walk-up retail space • High foot traffic • Ample area parking • 701 sq ft • $38.00/sq ft net

MLS

CONNECT

The information set out herein is for advertising purposes, with information obtained from sources deemed to be reliable. No warranty or representation is made as to its accuracy, correctness and completeness of the information, being subject to errors, omissions, conditions, prior sale/lease, withdrawal or other changes without notice. Coupal Markou Commercial Real Estate Inc., Brokerage

February 10–March 9, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

13

Choosing a foreign sales agent?

Ten questions to ask before selecting a candidate You’ve decided it’s time for your business to venture into foreign markets. To do so, you have also realized that to be successful, you need feet on the ground, a trusted representative who will serve your interests and make business happen in your market of choice. You need a foreign sales agent.

THIS IS AN INDIVIDUAL who knows your target market, is a resident of that market and has experience driving sales on behalf of organizations comparable to yours.

Even if you’re prepared to staff an overseas office with familiar faces, you still need reliable and credible 14

individuals who have the local experience and knowledge that your team does not.

Finding a foreign sales agent is easy. Selecting the best one for your business is more challenging. Here are 10 questions to ask once you have a list of candidates and are trying to make a final choice.

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

1. Can we meet?

This is an essential first step.

2. Can you provide me with references?

You want to talk to other clients with businesses similar to yours. Any hesitation to provide this should raise an immediate red flag. When checking the references, ask about how reliable, trustworthy and productive your prospective sales agent has been.

3. How well do you know my product?

An experienced and credible agent should be willing and able to sit down with you and carry out a quick strengths, weaknesses, opportunities February 10–March 9, 2024

KITCHENER/WATERLOO GUELPH & CAMBRIDGE relationship, non-disclosure agreements and so forth.

and threats (SWOT) analysis of your product in the market. Hesitation is again cause for concern.

4. What resources do you have to represent my interests and achieve my business goals?

It’s important to understand what kind of support your sales agent will be providing to you.

5. What support do you require from me?

At the same time, you should be clear on what your commitment will be to help the sales agent do the best job possible for you.

Try to determine whether they are going to be just reactive, or proactive.

7. Which regions of your country do you cover?

As a risk reduction strategy, you typically should not give an agent exclusive rights to represent you throughout an entire country. It’s better – at least in the beginning – to divide the market between a few agents, than to put all your eggs in one basket, should a single agent prove unreliable or dishonest.

10. Can I have all this in writing?

8. Who else do you represent?

Remember, it’s far better to have a few good agents than a larger number of mediocre ones. Not only will bad ones perform poorly on your behalf, the cost of managing those relationships can be a substantial drag on your time and resources. CI

You want to know if they represent competitors and have a conflict of interest. Hesitation to provide this information is another red flag. There are unscrupulous individuals who work to deceive companies that pose a competitive threat to their clients.

6. What’s the fine print?

This should include clear specifics about sales territories, commissions, grounds and processes for terminating the

D ISE AN FRANCH INESS BUS ES TUNITI OPPOR

9. What is your action plan for selling my product?

Some agents will attempt to win your business on a handshake.

Gentlemen agreements have no place here. The only way to protect your interests is to draft a binding legal contract.

Final thoughts

Source: bdc.ca

TOR.CA

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ERCIA ECOMM

TH

OW R G U O PY L E H E W MS A E R D YOUR

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DON AMY

Sales Representative CELL: 519-270-3055 donamy@bmts.com

GREAT COMMERCIAL/RESIDENTIAL OPPORTUNITY IN BEAUTIFUL SOUTHAMPTON

$1,350,000

ONTACT

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FOR AD

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370 RAILWAY STREET, SOUTHAMPTON N

ECTIO ST SEL THE BE ERCIAL, M OF COM IAL, R INDUST E AND IS FRANCH S S BUSINE NITIES TU OPPOR

Welcome to a one-acre gem at Southampton’s south entrance on Highway 21.

Zoned C2, this property is a canvas of opportunities. A Veterinary Clinic & Home Combo: 2600 sq ft Veterinary clinic leased until Dec 2026, providing a steady income and includes a reception area, 4 examining rooms, x-rays, and more.

The 2200 sq ft house offers a versatile space ideal as a cozy home, rental, or office space. Potential to sever a lot on the north end. Don’t miss this chance to turn your vision into reality. Whether it’s a thriving clinic, a charming home, or a strategic investment, this property has it all! MLS# 40435610

www.southamptonhomes.ca February 10–March 9, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

15

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

MLS® 40338977

MLS® 40338977#3-815 WEBER MLS® 40338977 ST. E.

REET E.

4411 KING STREET E.

30 QUEEN STREET N

#104-51 DAVID STREET

1,175 2,403 SF | $20.00/SF 875-3,361 SF | $32.00/SF 4,059 WEBER E. ST. E. SF | $2,700/Month #3-815 WEBERSTREET ST. E.SF |N$11.00/SF DAVID STREET #104-51 4411#3-815 KING STREET 30 QUEEN 30#104-51 QUEEN STREET N James Boudreau** x 3020 James Boudreau** x 3020 Chad Ritzer* x 3033 James Boudreau** x 3020

1,175 SF 1,175 SF | $2,700/Month 2,403 | $20.00/SF 2,403 32.00/SF 875-3,361 SF || $2,700/Month $32.00/SF 4,059 SF | $11.00/SF 4,059 SF | SF $11.00/SF James Boudreau** x 3020 James Boudreau** x 3020 James Boudreau** x 3020 James Bo 3033 Chad Ritzer* x 3033 James Boudreau** x 3020 James Boudreau** x 3020

#108-501 KRUG STREET

2,490 SF | $20.00/SF James Boudreau** x 3020

#1-26 MAIN STREET 2,000 SF | $18.00/SF Lester Tobin* x 3023

#1-26 MAIN STREET STREET #108-501 KRUG STREET

2,000 | $18.00/SF 00/SF 2,490 SF | SF $20.00/SF Lester Tobin*x x3020 3023 * x 3020 James Boudreau**

10 TOWNSEND DRIVE

2,558-2,906 SF | $32.00/SF James Boudreau** x 3020

#1-26 MAIN STREET 10 TOWNSEND DRIVE

7 DUKE STREET W.

819-3,007 SF|FROM $11.00/SF James Boudreau** x 3020

7 DUKE STREET 10 TOWNSEND DRIVEW.

7 DUK

2,000 SF | $18.00/SF 819-3,007SFSF| FROM $11.00/SF819-3,007 2,558-2,906 SF | $32.00/SF 2,558-2,906 | $32.00/SF Lester x 3023 x 3020 James James Boudreau** x 3020 James Bo JamesTobin* Boudreau** Boudreau** x 3020

MLS® 40338977 96-100 HIGHLAND RD.W.

311-1,350 SF | $12-$12.50/SF James Boudreau** x 3020

977

508 RIVERBEND DRIVE

84-409 SF | From $325/Mth Cindy Theoret* x 5020

501 KRUG STREET

690 –1,045 SF | $16.00/SF James Boudreau** x 3020

99 NORTHFIELD DRIVE E. 695-2,287 SF | $11.95/SF Chad Ritzer* x 3033

MLS® 40338977

ND RD.W.96-100 RD.W. 508HIGHLAND RIVERBEND DRIVE 508 RIVERBEND 501 KRUG DRIVE STREET

501 99 NORTHFIELD KRUG STREETDRIVE E.99 NORT

-$12.50/SF 311-1,350 84-409SFSF| $12-$12.50/SF | From $325/Mth84-409 | FromSF$325/Mth 690SF–1,045 | $16.00/SF 690 –1,045 695-2,287 SF |SF$16.00/SF | $11.95/SF 695-2,28 * x 3020 JamesCindy Boudreau** Theoret*x 3020 x 5020 Cindy Theoret* x 5020x 3020 James Boudreau** James Boudreau** Chad Ritzer* xx3020 3033 Chad R 34 WATER STREET N.

2,437 SF | $12.00/SF James Boudreau** x 3020

31 BEACON POINT COURT 5,000 SF | $14.50/SF James Boudreau** x 3020

10-665 COLBY DRIVE 1,065 SF | $14.00/SF Chad Ritzer* x 3033

115 EARL THOMPSON RD. 9,000 SF | $13.75/SF Chad Ritzer* x 3033

Each office is Independently Owned and Operated 16

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

February 10–March 9, 2024

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

PLAZA $6,300,000 n* x 3023

DOWNTOWN RETAIL CONDO OFFICE/RETAIL BUILDING RETAIL PLAZA 2,403 SF | $900,000DOWNTOWN R 1,750 SF | $1,250,000 15,634 SF | $6,300,000 OFFICE/RETAIL BUILDING RETAIL PLAZA DOWNTOWN RETAIL CONDO OFFICE/RETAIL James BUILDING James Boudreau* x 3020 Boudreau** x 3020 Lester Tobin* x 3023

2,403 SF | 1,750 SF | $1,250,000 15,634 SF | $6,300,000 2,403 SF | $900,000 1,750 SF | $1,250,000 3020 Lester Tobin* x 3023 JamesxBoudreau* x 3020James Boudr James Boudreau** x 3020James Boudreau**

OFFICE BUILDING 10,000 SF | $2,700,000 James Boudreau** x 3020

COMMERCIAL BUILDING 11,679 SF | 0.21 AC. | $2,500,000 James Boudreau** x 3020

RESTAURANT/RETAIL 1,375 SF | $849,000 Lester Tobin* x 3023

OFFICE BUILDING UILDING COMMERCIAL BUILDING COMMERCIAL BUILDING RESTAURANT/RETAIL 11,679 SF | 0.21 AC. |1,375 $2,500,000 10,000 SF | $2,700,000 11,679 SF | 0.21 AC. | $2,500,000 $2,700,000 SF | $849,000 James Boudreau** x 3020 James Boudreau** x 3020 James Boudreau** x 3020 eau** x 3020 Lester Tobin* x 3023 LAND & BUILDING

10,129 SF | $2,750,000 James Boudreau** x 3020

BUILDING

REDEVELOPMENT LAND 1.210 Acres | $6,900,000 James Boudreau** x 3020

RESTAURA 1,375 SF | Lester Tobi

REDEVELOPMENT SITE 2.11 Acres | $4,300,000 James Boudreau** x 3020

LAND & BUILDING LAND REDEVELOPMENT LAND REDEVELOPMENT REDEVELOPMENT SITE REDEVELOP

10,129 SF | $2,750,000 $6,900,000 $2,750,000 1.210 Acres | $6,900,0001.210 Acres | 2.11 Acres | $4,300,000 2.11 Acres | James Boudreau** x 3020 James Boudre eau** x 3020 James Boudreau** x 3020

James Boudreau**BUSINESS x 3020FOR SALE MEDICAL OFFICE BUILDING 5,074 SF | $1,600,000 $925,000 James Boudreau** x 3020 James Boudreau** x 3020

James Boudreau** 3020 BUSINESS FORx SALE $299,000 Lester Tobin* x 3023

Each office is Independently Owned and Operated February 10–March 9, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

17

Copyright trolls:

know your obligations

The internet makes all sorts of information available, seemingly for free. But if you intend to use someone else’s content on your website, in your brochure or in your store, you need to license the use of it – this goes for videos, writing, music, or photographs.

But we all make mistakes. Maybe you unknowingly used a photo on your homepage from one of these websites, or an employee added it to your brochure.

If that happens, you might receive a letter from a company telling you to either pay to license it or remove it from usage, or face legal repercussions. So, you remove it from your site and hope that is the end of it. In many cases, that is the end – but what if it isn’t?

Let’s say a few months later, you receive an invoice from a law office stating you need to pay them $2,000 for copyright infringement, or they will take legal action. What is happening here?

You might be dealing with a copyright troll

Unlike stock photography websites like iStockphoto and Shutterstock, who make money on licensing fees, trolls merely pose as stock photo websites. These companies’ main source of income comes from threatening those who unwittingly use their photos without a license.

That’s right, they want you to commit copyright infringement, so rather than getting a small amount of $20 per year for licensing a picture, they are hoping to land $2,000 from those who don’t know their rights.

18

Here are your options

According to an article by Samuelson-Glushko (cippic.ca/FAQ/ Copyright_Trolls), you have options if you receive an invoice from a law office. You could: • Accept and pay the fee demanded.

• Negotiate for a lower fee.

• Offer a fee in line with what the company could expect for statutory damages (in Canada, $500 per work, up to $20,000).

• If you qualify as an innocent infringer, offer the company $200 per work as an equitable settlement offer.

• Tell the company that the work has been removed and say that ends the matter (and risk being sued).

• Ignore the company (and risk being sued).

What do you actually owe?

Generally, the courts in Canada are unlikely to award more than the minimum amount of $500 per work infringed. They also have the discretion to: • Reduce damages up to $200 per unaware infringement.

• Reduce damages below the minimal amount where one medium, like your website, contains multiple infringing works and the total award would be grossly out of proportion to the infringement.

You should be aware that trolls are not interested in low settlement

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

fees. Expect a troll to reject what you might consider a fair offer to settle, or a proposed settlement fee that is equal to what you would have paid to use the image had you sought a license at the time. That does not mean you have to pay the outrageous fees demanded by the troll. Again, it is a matter of risk: Are you likely to be sued? Do you want to incur the expense and bother of protracted demands?

Now a “collections firm” is threatening your credit rating! Is this true? Can a troll threaten your credit rating?

No. A troll’s demand is just that, a demand, an unsubstantiated allegation of copyright infringement. It is not until it turns into a successfully concluded lawsuit with a judgment against you that this demand turns into a debt.

At this point, if you refuse to pay the damages – the judgment debt – your credit may be threatened. If you look carefully at the troll’s “collections” communications, you will see that it is not really a collections agency.

Usually, this is just a division of the troll’s business model, a part of the process of squeezing money from victims. It is deliberately deceptive and potentially unlawful.

If you find yourself in a potential copyright infringement conundrum, but are not being sued call a CFIB business counsellor to discuss your options (1.888.234.2232). If you are being sued, call your provincial law society. They can offer you a 30-minute phone consultation with a copyright lawyer for $25. CI Source: cfib-fcei.ca/en February 10–March 9, 2024

KITCHENER/WATERLOO GUELPH & CAMBRIDGE

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February 10–March 9, 2024

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Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

19

The business of

business-to-business moving

BY CHUCK RESNICK

When it comes to commercial and office moves, we understand that business-to-business clients value three major things: That the job is completed on time as promised, on budget and with no disruption to their ‘business as usual.’

This may involve professional offices, retail stores, educational facilities or any other type of organization.

The focus on budget and timing is understandable, and a good mover will work toward a seamless transition from point A to point B.

20

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

The first thing to establish is a chain of communication.

Usually, this means interacting with a move co-ordinator for the client.

Oftentimes that’s a role we will play. On the mover’s side, someone should be set up as a consultant dedicated to the move.

This professional works with the client coordinator to shepherd the logistics.

Each business-to-business move is different, and it’s up to the mover to determine what equipment is necessary.

For example, the mover may need to use library carts, computer carts, elevator door jamb protectors, carpet protection and the like. They should also have special anti-static bubble

February 10–March 9, 2024

SOUTHWESTERN ONTARIO wrap for computer equipment.

Another element the co-ordinator handles is connecting with the appropriate commercial/office management company in order to find out about, and adhere to, rules and guidelines for elevator usage, truck parking, etc.

If the move calls for equipment or specialized expertise, the coordinator should arrange for it. An example would be tearing down cubicles, disconnecting computers and electronics at the destination site and reassembling them. Spaceplanners are needed to accomplish this part of the move, especially when it comes to the cubicle set-up.

Interestingly, office moves are usually done with totes rather than boxes. There are a number of things that will need to be provided such as labels and security ties for the totes. Each person’s office items are transferred to the appropriate office

at the destination. Good labelling helps to achieve successful residential moves, and with a business-tobusiness move, it takes on even greater importance. Another big help is to have floorplans of the offices at both ends of the move, which of course aids in labelling what goes where, as well as the order in which items are packed and taken off the truck.

All this is organized and orchestrated by the co-ordinators, and often a mover will do these moves after-hours and on weekends to minimize disruption during usual work hours. If the move has to be completed during work hours, it is best to limit employee participation

as much as possible. The goal is to make things as easy as possible on employees and customers.

In the end, the key to a successful business-to-business move is developing a plan with clear and welldefined goals and having someone on each end who is responsible and accountable for the event. Those booking a commercial or office move will want to check into the moving company’s track record and look at any testimonials reflecting the work.

In any kind of move, everyone should be happy when the last box is put into place. The best way to ensure this level of satisfaction is to plan ahead, be organized and keep the lines of communication open. CI

Chuck Resnick is vice-president Marketing and Operations for Two Men And a Truck - Canada, a division of Heron Capital Corporation. Visit twomen.ca

RECESSION PROOF BUSINESS

D L SO 10 bed Community Homes for Opportunities (CHO) in St. Marys, Ontario. Turnkey with staff. 10-12 ROI 999k

25 bed CHO funded homes for Opportunities (20 CHO) and 6 private Pay Residents in Kitchener, Ontario. 11-15 ROI 2.4M

206 Main Street, Parkhill Ideal for owner operator/savvy investor. Main flr can be leased for $3500/mth+TMI; 2nd flr 3 bed 2 bath residential w/living rm, kit & balcony can be leased for $1600/mth & $1300/mth each as 2 units. Just over 1/2 acre. Ample parking. Asking 699K

• 20 bed CHO & 7 Private Retirement Home in SW Ont. 3.4M • SARNIA 8 CHO + 9 PRIVATE Excellent cash flow. Great subdivision. SARNIA 17 Municipality Funded. 1.4M • SARNIA 17 Municipality Funded. Close to amenities & Services. 1.4M • DOWNTOWN LONDON, Main Level Commercial, Plus 5 Residential. $1,699,000

Rahim Charania, BROKER 519-859-0133

rahimcharania@gmail.com www.charaniagroup.ca February 10–March 9, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

21

GREATER TORONTO AREA

Sanjiv Puri Broker SRS ABR Commercial Director

647.295.5501 Real Estate Investment Solutions Development Land 8.85 Acres Oakville $13,500,000 Prime Opportunity for Builders, Investors and Developers. 8.85 Acres Corner lot opposite the future Transit HUB on 407 / Neyagava Rd. Amended official allows for multiple 12 story residential buildings with commercial/Retail, Institutional component under The Proposed Future Neyagawa Urban Core Plan

Distillery with 2 Acres Land Welland $3,000,000 LCBO Approved Distillery with 2 brands on LCBO shelves. Product range includes 10 brands of Whiskey, Gin, Vodka, Beer and Rum Site is approved for 10,000 sq ft building which will house the distillery and Restaurant with outdoor patio event place Prime Location opposite Flatwater centre

Income Property Brantford $1,249,900 Income property with long term leases. Vendor will offer rent guarantee of $65,000 per year All leases net and escalating 3 tenants 4560 sq ft Leasable space

WANTED FOR QUALIFIED BUYERS:

1. 3500-5000 sq ft Peel region for Doctors office/Pharmacy 2. 3500-5000 sq ft Peel Region for Restaurant 3. Used Car Dealership in GTA with Property

4. Dental Clinic existing or preconstruction in Peel/Halton Region 5. Physiotherapy Clinic with/without property

info@sanjivpuri.ca • sanjivpuri.ca 22

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

February 10–March 9, 2024

EASTERN ONTARIO

John Shewchuk SALES REP

Cell: 905-404-5038

Email: jshewchuk@royallepage.ca

Brian Shewchuk SALES REP

Cell: 289 688 8047 | Email: brianshewchuck@royallepage.ca

Royal LePage Frank Real Estate, Brokerage OFFICE: 905-623-3393

PHASE ONE 29K SQ FT INDUSTRIAL PLUS APPROX 50K SQ FT SELF STORAGE PHASE 2

HUGE 401 Frontage!!! So much choice! NEW 29,600 SQFT industrial BLD completing Q3 2024 for lease OR sale, and planned Phase 2 project for + 60,000 SQFT self-storage facility! High-demand + income generating assets with great investment potential!

Clarington. Call Brian.

LICENSED RESTAURANT + BUILDING FOR SALE

2500 SQFT building and one acre commercial property. HUGE paved parking area, outside patio! Popular well known 20+ year business. High visibility & high traffic location! The full package! Owners will hold a 1st mortgage (OAC). Newcastle Clarington. Asking price $1,700,000

1.5 ACRES OPEN STORAGE LAND - CLARINGTON

Ideal general industrial zoning! Serviced, Improved, Fenced, w/ Short Term lease!

Great opportunity for investors, developers, or end-users. Clean ENV + other DD Documents available. Great chance to occupy 1 or more units & lease the rest! Asking price of $1.83M available in Bowmanville Clarington!

28 ACRES FUTURE DEVELOPMENT LAND — NEWCASTLE

Great location between HWY 115/35, HWY 401 AND HWY #2. Labeled Employment Lands under Durham OP Update. Vendor Take Back Mortgage available! Excellent opportunity for land bankers, developers, and builders of all stripes to acquire a choice piece of land early!

WOW - RARE 1.3 ACRE SERVICED RESIDENTIAL INFILL SITE IN CLARINGTON!

Services are at the lot line and an existing bungalow remains on site! Very hard to come-by in fill site for a number of detached lots, semis, or potential for townhouses: ideal for small builder or developer! Clarington is a fast-growing community with regular seasonal events walking distance away!

CLARINGTON EXCLUSIVE

COMMERCIAL INVESTMENT BUILDING ASKING $1,600,000

4800 SQFT Freestanding building on fully paved lot. Clear span w/ 12’ door & high-traffic highway visibility! In excellent condition and has heated floor! Confidentiality agreement required. Call John for more details!

OSHAWA - WHITBY INDUSTRIAL & OFFICE FOR LEASE!

Oshawa - 2140 SQFT - Two units with truck level access & 14ft height. Option for 1 unit or both for 4280 SQFT! $13.50 psf net asking price Whitby - 3450 SQFT - One unit with rive in door. In great shape, Ideal for showroom, recreation, warehousing, or sales outlet. $14.25 psf net asking price Clarington - 5900 SQFT - Clean open affordable space. Ideal for storage, showroom, packaging, recreation, and more. Only $11.00 psf net asking price! + Oshawa Office space @ a great price! Only $8.75 psf net! Clean accessible location with parking.

February 10–March 9, 2024

Commercial Real Estate & Business Opportunities | COMMERCIAL INVESTOR

23

RENTING OUT

YOUR CONDOMINIUM

BY JACQUELINE MONETA JD WITH ASSISTANCE FROM JAYSON SCHWARZ LLM

Buying a condominium as a rental property can be a great investment, but now that you’re a landlord, it’s important to understand the rules and regulations that govern you and your tenant.

What rules apply?

All landlords and tenants are governed by the Residential Tenancy Act, 2006 (RTA). The RTA outlines the rights and responsibilities of landlords and of tenants who rent residential properties. It also covers the leasing agreement and issues such as maintenance and repairs, tenancy agreements, rent, entering a rental unit and ending a tenancy.

In a condo building, the Condominium Act, 1998 also applies. The Condominium Act sets out the relationship between the owners, condo corporation and board of directors.

This means that you have to give your tenants a copy of the condo rules and make sure they adhere to them. The condominium corporation may have its own rules on rentals as well, which could include a minimum number of months for the rental and other obligations. It is important to read your condo rules prior to entering any lease agreement.

Do tenants have access to amenities?

Tenants must follow the same rules as owners, and have the same rights as owners when using building amenities.

24

However, parking spaces and/or lockers can be included in the lease agreement at the discretion of the unit owner. Owners can choose to retain those for themselves or rent them to another tenant.

How much can you charge?

When you’re renting a unit to a new tenant, you can set the rent based on current market prices. There is no maximum. The market price for a unit may be higher than that paid by a previous tenant.

The RTA covers most types of rental units. Generally, landlords can increase rent: • only once every 12 months; • with 90 days written notice; and • based on the guidelines set for that year by the Ontario Ministry of Municipal Affairs and Housing.

Subletting and short-term rentals

What if your company sends you for three months of training in another city? It is becoming more and more popular to list your condo on a shortterm rental site to make some money while you are away.

Be careful; lots of new condos have specific rules governing shortterm rentals, such as a minimum number of months on a lease. When

COMMERCIAL INVESTOR | Commercial Real Estate & Business Opportunities

buying an income property, it is important to read the rules prior to firming up your deal, and express this intention clearly to your realtor and lawyer. These rules prevent owners from converting their units into a vacation rental. Condo declarations can also spell out requirements, such as each unit shall be occupied and used only as a private single-family residence.

If you’re renting out a unit for a longer term, any tenants have to abide by the terms of the rules and declaration, too. Therefore, a tenant cannot lease the unit out for shortterm stays.

If you decide to sublet your unit, notify your insurance company to see if and how your policy covers damage caused by tenants.

When renting out your condo unit, you are responsible for following the rules of the corporation. Always check the rules to make sure you’re not in violation. Make it clear in your rental agreement that your tenant is bound by the condo rules, and give them a copy.

A condo can make a great investment, but you’ll save time and money if you put in some work at the beginning to understand your rights and responsibilities as a landlord. CI February 10–March 9, 2024

SUMMA PROPERTY MANAGEMENT

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Our superior service includes managing multi-unit Residential/ Commercial/Retail/ Industrial/Condominium Corporations.

Individual condo investments, small multi-unit residential management, accounting services, and training for owners who want to manage their own properties.

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SkyViews

k y Vfor iew s Your S Price ‘Upside’ Your Value Priceinfor Finding the‘Upside’ Grey Areas Finding the GreyRealty Areas

By CliffValue Ford,inSkyview

By Cliff Ford, Skyview Realty

With the ever-increasing demand for multi-unit With the ever-increasing demand for multi-unit residential properties amongst investors, a trend residential properties amongst investors, a trend has been overover the the lastlast number has emerging been emerging numberofofyears. years.

Many properties, and and certainly buildings Many properties, certainly buildingswith with 30+ 30+ units, are seeing multiple offers partofofan anopen open units, are seeing multiple offers as as part bid submission process. bid submission process.

If you aren’t familiar the bid submissionprocess, process, If you aren’t familiar with with the bid submission it is the act of marketing a property for sale without it is the act of marketing a property for sale without providing a price. Typically, the Seller will provide providing a price.

Typically, theinSeller willof provide all due diligence documents advance the offer all due deadline diligence documents in determine advance what of the offer to allow buyers to they are deadline to allow buyers determine willing to offer on any to given property. what Sellersthey love are this process as any it can generally lead Sellers to multiple willing to offer on given property. loveoffers this a bidding war that up their end processand ascan it create can generally lead todrives multiple offers price. Buyers dislike this process, however, because and can create a bidding war that drives up their end they prefer to have some guidance on pricing going price. Buyers dislike this process, however, because into the offer stage. As a brokerage, we are caught in they prefer to have some guidance on pricing going the middle of wanting to deliver great results for our into theSeller offer and stage.

As a brokerage, we are caught in satisfying our buyer clients’ demands for moreof investment the middle wanting properties. to deliver great results for our Seller and satisfying our clients’ demands What we have beenbuyer noticing with these open for bid more investment properties isproperties. that ‘upside’ becomes a very common discussion point. The value a buyer places on the

What we have been noticing with these open bid upside in a building can often become the factor that properties is that ‘upside’ a the very common makes their offer standbecomes out among rest, at least discussion point.

The value a buyer places on the as it relates to purchase price. upside When in a building canwhat oftenthe become the that considering upside is onfactor a property, makes its their offer stand out among the rest, at least more than just rental rate upside, especially conas it relates to the purchase price. rates seen in the Ontario sidering lower vacancy market nowadays. Beyond the upside of what you

When considering what the upside is on a property, could rent turned-over units for, investors are looking its more than just rental rate upside, especially conat upside in the utility consumptions by implementsideringingthe lower vacancy seen the bulbs, Ontario programs to replacerates lighting withinLED inmarketstalling nowadays.

Beyond theevery upside what you Low-flow toilets in unit, of and investing in higher efficiency heating equipment.are Upside can could rent turned-over units for, investors looking alsoinbethe found in converting excess by space in a buildat upside utility consumptions implementing to either additional units, commercial space,inor ing programs to replace lighting with LED bulbs, amenities that could draw in greater tenant rents. stalling Low-flow toilets in every unit, and investing Sometimes even the location of the property itself in higher efficiency heating equipment. Upside can also be found in converting excess space in a building to either additional units, commercial space, or amenities that could draw in greater tenant rents.

Sometimes even the location of the property itself

can have a form of upside for a particular buyer, in

can have a form of upside for a particular buyer, in that they may own a building nearby and could crethat they may own a building nearby and could createvalued valuedupside upside in the sharing of mutual expenses ate in the sharing of mutual expenses betweeneach each property. between property.

Whatever upside factors may may be onbe anyonparticWhateverthe the upside factors any particular property, when going into a purchase process, ular property, when going into a purchase process, understanding what YOUR valuevalue is on is theonupside understanding what YOUR the upside will give you a leg up when bidding against other will give you a leg up when bidding against other buyers. It appears that, at least for the time being, buyers.

It appears that, at least fordetermined the time being, the sale price of the property is no longer the by sale pricecomparable of the property longer just market sales.isIt no is now the determined grey just by market comparable sales.

It is now the grey areas of upside that are driving the prices higher. Of course seller had their way, the would areas ifofevery upside that are driving theBuyer prices higher. Of be paying for 100% of the upside theirthe purchase course if every seller had their inway, Buyer would price but realistic sellers also know that they need to be paying for 100% of the upside in their purchase leave something on the table for a buyer. As a buyer, price but realistic sellers also know that they need to you need to know what the upside is and how much leave onforthe table for Itaisbuyer.

As a buyer, you aresomething willing to pay that upside. a business you need to know what the upside is and how much decision that only you can determine based on your operations. you are willing to pay for that upside. It is a business

decision that only you can based on your To be fair when discussing bid determine submission processoperations. es, it should be stated that price may not always be the only factor when a seller chooses one offer to To be fair when discussing bid submission processwork with over another, but it is likely the most siges, it should that price always be nificant factor. be As stated an example, buyersmay are not becomthe more only and factor when a seller chooses one offer to ing more organized in their purchasing work with inover another, but it is likely the most sigprocesses order to streamline their conditional periods closing as this can also help nificantand factor.

As dates, an example, buyers aretobecomachieve a sign back from a Seller when multiple ofing more and more organized in their purchasing fers are on the table. Especially if all offering prices processes in order to streamline their conditional are neck and neck, the terms of the offer becomes periods and closing dates, as this can also help to an important factor for a seller.

achieve a sign back from a Seller when multiple of-

You may not be a fan of the open bid submission fers are on the table. Especially if all offering prices process, but it appears as if this new trend will be are neck and neck, the terms the diligence offer becomes sticking around.

By doing properofdue an important factor for a seller. upfront, good research on the property’s market, and theaprice want to pay the You determining may not be fan you of the open bidforsubmission upside, you can still achieve great acquisitions in this process, but it appears as if this new trend will be tight and highly sought after investment class.

sticking around. By doing proper due diligence upfront, good research on the property’s market, and determining the price you want to pay for the upside, you can still achieve great acquisitions in this tight and highly sought after investment class.

27

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