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QUOTE (RobMacdonaldCMT @ Mar 4 2008, 12:19 PM) Just to add a little bit more information and some further clarity to the `rental pool` situation. The words `rental pool` gets used too loosely in real estate, and the true definition means something completely different to the banks that offer the...

QUOTE (CanadianMortgageTeam @ Feb 29 2008, 09:01 PM) Most lenders are okay with rental pools as long as they are not mandatory (ie you can opt out IF you wish). Most often its the way that the deal is presented - most lenders assume (as do many brokers) that rental pool equals hotel condo which...

I am currnetly in the process of buying two properties and both are in a rental pool. I have been informed by our mortgage broker, that the lenders are not going to approve our mortgage due to the fact that we are in a pool. In order to obtain a mortgage, we need a letter from the managment...