Hello CD's,
I am going tomorrow to Mississauga to negotiate a condo sublet from the owner of the condo.
The condo owner is asking for the first 6 months of certified cheques and the remaining 6 months of post dated cheques. I have no problem in giving him the above but then how do I check that the Condo owner is a legitimate person.
Has any CD got a sublet this way? If so, what are the steps to be taken.
I could have gone through a broker but then (since the broker gets $ 1200 from the owner of the condo for listing the condo and getting a tenant) the rent is always $ 100 above the normal rent.
Advise appriciated.

Peace by a PD

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I am a Gents and not a Ladies.

If he owns the Condo, then he should be able to produce the tax receipts ownership etc., Ask for copies and check them out. Any RE Agent will be able to get you the verifications and his ownership with the copies you generate. Also ask for references who are either neighbors or a bank reference. The condo Association will have his bonafides, his neighbor should be able to verify and tell you.

Don't give him the SIX certified Cheques. He can cash them all in one shot, even if they are post dated, because the money has been deposited towards it. Make sure that he is paying the taxes for the period that you are going to occupy initially. Tell him to pay it first and show you the receipt.

This is just to make sure that he has not sold the condo to some one and you are being taken to the cleaners.

Please check the CMHC web site. More on it if you need info.

HNY

Freddie.