A landlord’s paperwork may get a lot more complicated if a call for another online registry is implemented. This month, it is for incidents of flooding.
Due to the freak storms and flooding incidents that have ravaged urban centres such as Calgary and Toronto this summer, academics say a registry is required to arm buyers and tenants of the risk of flooding in specific neighbourhoods.
Speaking at last week’s Urban/Basement Flooding Symposium event, professor Ted Kesik said knowing a property’s insurance claims history allows for better evaluation of that property, especially around basement suites.
“Buyers should know everything about a property’s past, both good and bad," said Dan Peters, a real estate agent in Calgary. "A registry may be one way, but most will do their homework and get all information before buying.”
In recent months, calls have been made for landlords and or real estate agents to also disclose “dark” details of a property’s past specifically if it was the site of a violent crime.
Unlike that recommendation, the insurance registry has been met with a luke-warm response on any flooding registry -- at least in Calgary where the idea has effectively been shelved.
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