Frequently Asked Questions
How to buy income properties?
1. Prices listed are FIRM, not negotiable.
2. Add 10% brokerage to the price listed.
3. Let us know which property you like, and ask any questions you may have about the property.
4. Provide 50% advance to local broker ‘xxxx’ & get the official receipt & book the property.
5. We will proceed and buy the property under our company name, now we are eligible to sell it to you.
6. Provide the balance 50% to the local broker, “xxxxx” & get the DEED (property will be already registered under your name, local property management will be informed of new owner)
What type of property?
All of these properties are income properties, means there is a tenant in place & there is a property management company managing the property.
What type of Deed?
Warranty deed or Quit claim Deed, read it here to understand the difference: http://www.ehow.com/list_7179625_differences-deed-quit-claim-deed.html
How can I make rental income out of this property?
Tenant pays monthly rental to property management company, the company takes care of the Tenant & the property, every month Property management company takes 10% of your rental income + IF any repairs to the property, balance left is your ROI.
As an owner of income property, what additional expenses I have to pay directly & to whom?
Property Tax (you must pay property tax to the city where you have the property)
Property Insurance (you should pay insurance to insurance company, in case of fire/flood etc., property insurance is not a choice, it’s a must.)
How will the property management company will send the rental income to me?
They can use several method of payment (wire transfer to your bank or third party payment transfer companies such as PayPal, Moneybookers etc)
How safe is it to buy properties from USA?
Very safe, once the DEED is recorded in your name, along with it your TITLE is registered with a Title insurance company, so basically your name will be registered to the following: CITY OFFICE, TITLE INSURANCE PROVIDER, ELECTRICITY, WATER, and HEATING PROVIDERS.
What happens if my tenant makes issues by?
Not paying the rent\will not vacate\damage the property = management company will do their share of work too, they will send notice to Tenant to pay the rent and will try hard to collect it, most time a pre-authorized bank debit is done OR postdated cheques are received in advance from the Tenants. If Tenant does not pay or if Cheque bounces it becomes a criminal act. Owner will be notified, and further legal vacating process will be a responsible for the Owner.
List of duties property mgmt. does:
1. Advertise the vacancies.
2. Screening/interviewing the tenants.
3. Put only high quality eligible tenants.
4. Collect postdated cheques OR setup automatic bank debit from Tenants.
5. Oversee the property & Tenants; handle complaints, fix minor repairs.
6. Collect your rent from Tenant & pay back to you on Time.
I am still nervous, how can I safely invest and be free from trouble, vacating the tenant will that be a nightmare?
Like we said earlier; Very safe, once the DEED is recorded in your name, along with it your TITLE is registered with a Title insurance company, so basically your name will be registered to the following: CITY OFFICE, TITLE INSURANCE PROVIDER, ELECTRICITY, WATER, and HEATING PROVIDERS.
Sometime bad things happens; it’s all about how you handle it afterwards, in USA vacating the worst Tenant takes only between 3-6 months, you don’t need to believe us, just Google and do your research.
What are my chances of getting a USA visa & visit the property?
May be 50% at these USA economic conditions, this depends totally on various factors such as: your local income level, assets, grounds to prove you will come back, visa officer mood. Etc.
Can I get any additional help/service once I have purchased the property?
Yes, we will be your local contact in Canada for any additional help or service you require, as long as it does not cost us to provide a service, you can use us, feel free to ask us.
Thank YOU.
VIVAH ENTERPRISE @ 416-648-4582 | [email protected] | Brampton, Ontario, Canada
1. Prices listed are FIRM, not negotiable.
2. Add 10% brokerage to the price listed.
3. Let us know which property you like, and ask any questions you may have about the property.
4. Provide 50% advance to local broker ‘xxxx’ & get the official receipt & book the property.
5. We will proceed and buy the property under our company name, now we are eligible to sell it to you.
6. Provide the balance 50% to the local broker, “xxxxx” & get the DEED (property will be already registered under your name, local property management will be informed of new owner)
What type of property?
All of these properties are income properties, means there is a tenant in place & there is a property management company managing the property.
What type of Deed?
Warranty deed or Quit claim Deed, read it here to understand the difference: http://www.ehow.com/list_7179625_differences-deed-quit-claim-deed.html
How can I make rental income out of this property?
Tenant pays monthly rental to property management company, the company takes care of the Tenant & the property, every month Property management company takes 10% of your rental income + IF any repairs to the property, balance left is your ROI.
As an owner of income property, what additional expenses I have to pay directly & to whom?
Property Tax (you must pay property tax to the city where you have the property)
Property Insurance (you should pay insurance to insurance company, in case of fire/flood etc., property insurance is not a choice, it’s a must.)
How will the property management company will send the rental income to me?
They can use several method of payment (wire transfer to your bank or third party payment transfer companies such as PayPal, Moneybookers etc)
How safe is it to buy properties from USA?
Very safe, once the DEED is recorded in your name, along with it your TITLE is registered with a Title insurance company, so basically your name will be registered to the following: CITY OFFICE, TITLE INSURANCE PROVIDER, ELECTRICITY, WATER, and HEATING PROVIDERS.
What happens if my tenant makes issues by?
Not paying the rent\will not vacate\damage the property = management company will do their share of work too, they will send notice to Tenant to pay the rent and will try hard to collect it, most time a pre-authorized bank debit is done OR postdated cheques are received in advance from the Tenants. If Tenant does not pay or if Cheque bounces it becomes a criminal act. Owner will be notified, and further legal vacating process will be a responsible for the Owner.
List of duties property mgmt. does:
1. Advertise the vacancies.
2. Screening/interviewing the tenants.
3. Put only high quality eligible tenants.
4. Collect postdated cheques OR setup automatic bank debit from Tenants.
5. Oversee the property & Tenants; handle complaints, fix minor repairs.
6. Collect your rent from Tenant & pay back to you on Time.
I am still nervous, how can I safely invest and be free from trouble, vacating the tenant will that be a nightmare?
Like we said earlier; Very safe, once the DEED is recorded in your name, along with it your TITLE is registered with a Title insurance company, so basically your name will be registered to the following: CITY OFFICE, TITLE INSURANCE PROVIDER, ELECTRICITY, WATER, and HEATING PROVIDERS.
Sometime bad things happens; it’s all about how you handle it afterwards, in USA vacating the worst Tenant takes only between 3-6 months, you don’t need to believe us, just Google and do your research.
What are my chances of getting a USA visa & visit the property?
May be 50% at these USA economic conditions, this depends totally on various factors such as: your local income level, assets, grounds to prove you will come back, visa officer mood. Etc.
Can I get any additional help/service once I have purchased the property?
Yes, we will be your local contact in Canada for any additional help or service you require, as long as it does not cost us to provide a service, you can use us, feel free to ask us.
Thank YOU.
VIVAH ENTERPRISE @ 416-648-4582 | [email protected] | Brampton, Ontario, Canada