As a homeowner, letting your property out to a tenant is a big deal. You’ll probably be conscious of how your tenant will treat your home. Renting out your home isn’t a light decision, but it can be well worth it. However, having a rental property isn’t just about collecting rent. Your duties will also … Read more
1. Collecting a Security Deposit: Make Sure the Security Deposit is Part of the Rental Agreement BC tenancy laws enable landlords to collect a deposit in trust as security against damage to your property—albeit within strict guidelines. As a landlord, you can ask for a maximum security deposit equal to a half month’s rent at … Read more
As a landlord, you’ll want to treat your rental property as an investment, and you should see consistent cash flows from rent. Seeing as consistent rent flows is important, how can you manage it so that a tenant pays rent on time? What can you do when your tenant doesn’t pay their rent? There are … Read more
As a property owner, properly screening tenants is a primary defense against facing a headache tenant or tenancy. You’re the gatekeeper, and you get to decide whether a prospective renter is qualified for taking up residence at your property. You ideally want to find a tenant who intends to stay for a number of years, … Read more
As a real estate investor, knowing how to set a rental price for your investment property is important. We go in-depth about why it’s essential to set the right market rent for your home, and you can read more about this topic [HERE]. Understanding the rental value of your home is important to managing your … Read more
Establishing the rental price is critical to generate returns from your rental property as an investment owner. You are in the driver’s seat when it comes to setting the right price. Your decision now will be a chief factor in your returns in the long run. The Art of Establishing the Right Rental Price If … Read more
You get lots of questions like “What’s it like?” and “Tell me a crazy landlord story.” If you’ve been a landlord for a long time, you’ve probably got some funny, inspiring, crazy, and educational stories to tell regarding Rental inspections. In the project called The Landlord Chronicles, Chad Gallagher and Matt Faircloth have assembled a … Read more
You may not realize just how many essential procedures must be completed by a landlord at the End of tenancy. The goal here is to help landlords better understand these requirements, particularly where it comes to handling deposits and move-out inspections. The unfortunate reality of tenancy is that they don’t always end positively, meaning that … Read more
It is possible to end a tenancy without complication as long as all of the RTB processes are understood and followed correctly. The following explanations will provide more information about the forms that are used in the process of ending a tenancy. FIXED TERMS There are several important things to be aware of in relation … Read more
Nobody ever said becoming a landlord was easy, thats why we outlined below 5 tech tools for Landlords. Of course, the likelihood of passive income from property ownership appeals to many people. However, property management is not a passive activity. Aside from collecting rent regularly, you must also manage property repairs, vacancies, disputes, and emergencies. … Read more
Serving Notices To Tenants Once you have found a tenant and a lease is signed for your property, you’ll need to know both your and your tenants’ rights. At some point, you will have to provide documentation to your tenants During tenancy. You may even have to take legal action. Proper documentation is important when … Read more
After a tenant has been chosen it is important that both of you communicate clearly to ensure that you and the tenant understand both your rights and your responsibilities and are therefore fully protected in the case of something going wrong. If something does go wrong, having this initial paperwork helps to ensure that the … Read more