September 29th, 2009
29
Sep 09
Rental buildings taking the lead in smart sub-metering
Original Posting – The Ontario Condo Law Blog – published by Gardiner Miller Arnold LLP – September 2009
Anyone following the progress of Ontario’s Smart Metering Initiative and wondering how it applies to condominiums should read an August 2009 decision of the Ontario Energy Board (“OEB”) on smart sub-metering in rental buildings.
29
Sep 09
Why invest in apartments?
Lenders would rather lend large amounts of money over smaller amounts. Naturally they want to lend more, because that means they would get a higher commission from it. Buying single family homes, the borrower must qualify for the loan. They look at the borrower first then the property. With apartments it is the opposite. Logically if you own a 25 unit apartment building and the debt service/mortgage is $15,000 a month very few individuals could support that payment on their own. The lenders want to know how much income the property brings in. The property is the business so to speak.
