What is a POTL Fee? When purchasing a townhouse in Canada, you may encounter the term POTL (Parcel of Tied Land), typically associated with a POTL Fee. Understanding this term is essential to decide if such a property suits your needs. What is a Parcel of Tied Land (POTL)? A Parcel of Tied Land (POTL) refers to a freehold property linked to shared common elements maintained by a Common Elements Condominium Corporation (CEC). While the…
Why Water Pipes Rattle A few years ago, when one of my friends moved into their new home, they noticed a very unusual noise in the basement washroom. Whenever someone used the tub faucet, they heard banging in the water pipe lines, and the pipes would vibrate. Water pipeline can rattle due to improper anchoring, excessive water pressure, or trapped air within the pipeline. To alleviate this problem, you can add parallel pipes of equal…
Renting a Home: What Landlords Need to Know! In residential leases, first thing to note is, lease period is normally one year, there after it could be on month to month basis or as agreed in first place. Its applicable for both homes and condos. Leasing a property is the right term and widely used when it comes to renting for a longer period of time. Both these terms are used in conjunction with some…
FICO Score. In simple words, FICO score is also called as credit score. It was started by Fair Isaac Corporation and now is a very vital tool in place and in use by most of the financial institutions and lenders. This simply shows the credit worthiness of an individual. Whenever someone is considering of car loan, mortgage or as a matter of fact need any kind of financing, credit score always gets an attention. A…