Answers - Real Estate

Investor update on where you stand with tenant occupied properties and how they affect your investment. First things first, the law. The Residential Tenancy act appli

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

es to residential tenancies in British Columbia. It contains exceptions for tenancies such as not for profit housing cooperatives, accommodation provided to students o

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

employees and living accommodations occupied as vacation or travel accommodations. However, the residential tenancy act should not be used for commercial properties a

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

s it dos not apply. Also tenancy’s occupied by a mobile home park are regulated by the Manufactured home park tenancy act and not the residential tenancy act.

Here

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

s what you need to know:

Written tenancy agreements have been in effect since January 1st, 2004. Every agreement between an landlord and tenant must be in writing

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

. The act requires that the tenancy agreement set out the standard terms which are included as a schedule to the Residential Tenancy Regulation. Remember to use legal

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

names of the landlord and the tenant with the address and rental unit, date of tenancy agreement and all agreed terms included into the contract. You could use your ow

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

n contract. However, if you phone a property manager in the British Columbia or Calgary area, you could obtain a contract from one of them. They can also offer severa

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

advantages to managing your property. Re-Keying Locks is a job that must be preformed by the landlord, if requested by the tenant. The landlord MUST re-key the loc

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

ks as to prevent the previous tenant to enter into the rental unit. The cost of the re-keying or altering the lock must be paid by the landlord and under no circumstan

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

e be paid by the tenant in British Columbia Rentals or Alberta Rentals.

A Landlord may also require an additional deposit if the tenant wishes to have a pet. This dep

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

sit permits the tenant to keep the pet in the rented property. This deposit may not be greater than the equivalent of one half of one months rent.

A Landlord may also

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

require a deposit for keys or access devices. For example: garage door openers or security keys.

A landlord can increase the rent annually after giving three months

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

notice. Rent may be increased by a percentage equal to the consumer price index plus 2%. This dispute can be made by a tenant in arbitration. However, if the landlor

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

d is within the permitable increase then the landlord is within his rights.

Landlord may enter the property but must provide 24 hours notice to the tenant. However, if

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

the tenant gives permission, the landlord may enter at the time requested.

An investor or landlord is not required to have pets in his or her investment. Pets may be

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

restricted or prohibited by a landlord. Although a landlord can require a pet deposit, the landlord cannot request more then one pet deposit. The landlord is only al

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

otted one pet deposit which should cover all pets owned by the tenant. Also a tenant can end a tenancy agreement for illegal activity being carried out by the tenant or

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

guest of the tenant. If this illegal activity has caused or might cause damage to the landlords property then the landlord may end the agreement. All advice given sh

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

uld not be relied upon in any legal manner and you should always approach your lawyer, realtor or property manager for help in these manners. They are the professionals

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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