Landlording in Canada

Landlording in Canada
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As the cost of real estate rises across Canada, more and more homeowners are looking to become landlords. “Secondary suites” are becoming an increasingly common way for homeowners to subsidize their mortgages and supplement their incomes. This book is unique in that it places emphasis on the rental of secondary suites, and how to avoid a potentially negative landlord-tenant relationship by steering clear of “bad tenants.” Drouillard tells the reader how to determine what constitutes an “acceptable risk,” and provides insight into how to market rental space in order to attract good tenants. Sample rental ads will teach the reader how to make the most of short newspaper classified ads, as well as how to write longer online ads. Practical advice from this experienced realtor and property manager will make the process of finding and securing a tenant feel much less daunting.

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Michael Drouillard. Landlording in Canada

Landlording in Canada Kit

Contents

INTRODUCTION

PART 1. BEFORE PLACING THE “FOR RENT” AD

Chapter 1. PREPARING FOR A NEW TENANCY

Is Your Rental Ready for Viewing?

What are Some Common Basics Tenants Expect out of a Rental? Trash free

Clean

Everything working

All major structural components in working order

All safety issues addressed

Renovations That Pay for Themselves

Painting

Floor coverings

Kitchen/bathroom

In-suite laundry

But don’t go overboard

On hiring tradespeople

Chapter 2. SECONDARY SUITES: PREVENTING PROBLEMS BEFORE THEY START

Excessive Sound Transfer

Sharing Laundry

Ambiguous Boundaries Between Exclusive-Use and Common Areas

Property Maintenance and Secondary Suites

Payment of Utilities

The tenant might dispute the percentage of the bill assigned and complain about perceived excessive usage by his or her neighbour

The tenant might periodically fail to remit payment in a timely manner, thereby doubling your bill-collecting responsibilities

Some tenants might file a claim against you in court or arbitration demanding that they be allowed to avoid paying the portion of the utility bill that they agreed to pay in the lease

Overwhelmed? You Don’t Need to Be!

Chapter 3. HOW TO DETERMINE RENTAL VALUE

TABLE 1: NEIGHBOURHOOD COMPARISON

How Do Pet or Smoking Restrictions Affect Rental Value?

I’ve Determined Market Value for My Rental Property, but What Do I Do in a Weak Rental Market?

Rent reduction

Move-in allowance

Offer one or half of one month’s rent free

Furnished Rentals

Chapter 4. LANDLORDING ESSENTIAL: MEMBERSHIP IN A LANDLORD ASSOCIATION

Access to a legal information hot line

Access to landlord-friendly rental forms relevant to your province

Access to credit information

Access to a “bad tenant” database

Workshops, seminars, and newsletters regarding current events in property management

Political clout

I only have one rental property (in my basement). Do I really have to join a landlord association?

Chapter 5. INSURANCE

Types of Insurance

Liability Insurance

Chapter 6. KNOW THE LAW — AT LEAST KNOW THE BASICS

Human Rights Legislation

Legislation designed to protect personal information

Privacy Law

Never Accept Tenancy Law Advice from Your Tenant

Chapter 7. START YOUR TENANCY ON THE RIGHT FOOT WITH THE RIGHT FORMS

The Application Form

Information about the property being offered for rent

Grow-Op Deterrence Clause

SAMPLE 1: RESIDENTIAL TENANCY APPLICATION

Receipt Book

Other Forms Required by Your Strata/Condominium Corporation

Other Legal Forms Required by Your Province

Move-In/Move-Out Inspection Form

Proof of Authority to Rent the Property

The Rental Agreement

Tenant

Occupant

Rental Agreements and Secondary Suites

Month-to-Month Agreements versus Fixed-Term Leases

Other Important Clauses. Liquidated damages clause

Additional occupant escalation clause

Late payment or non-sufficient funds (NSF) fee

Clear definition of an occupant

Restrictions on potentially damaging items such as barbeques and water beds

PART 2. HOW TO FIND A GREAT TENANT

Chapter 8. PLACING THE “FOR RENT” AD

The Newspaper Classified Ad

Which newspaper should be used?

What Should Be in the Ad? Rental value and the number of bedrooms/bathrooms

Utilities included?

Other important restrictions (pets/smoking/etc.)

Property address

Rental incentives

Language that will catch readers’ attention

Sample ads

Placing Your “For Rent” Ad Online

What site should be used?

What should be included in the ad?

Beware of scammers!

Chapter 9. AN INTRODUCTION TO TELEPHONE SCREENING

What date do you want to move in?

Who will be living in the home?

Do you have any pets?

What is the reason for moving?

Have you given notice to your current landlord?

How to Prevent No-Show Appointments

Chapter 10. SHOWING THE HOME AND CLOSING THE DEAL

Holding open houses instead of private viewing appointments

Going out too often in a day to show the rental suite

Overselling the home

Not being prepared to answer basic questions about the property

Failing to bring the basic forms to the showing

Improper attire

Failing to close the deal

Poor listening and observation skills

Agreeing to requests from prospects before they’ve filled out an application

Stopping showings after receiving a promising application

Stay Safe!

Getting the Application Signed

What if the Applicant Refuses to Give His or Her Social Insurance Number?

Stop Good Tenants from Looking Elsewhere after Filling Out Your Application

Collect an application deposit

Get through the rental agreement with the prospective tenant too

Chapter 11. MINIMIZING YOUR RISK: EFFECTIVE TENANT APPLICATION ANALYSIS

The Initial Review of the Application Form

Look for missing information

Rental history

Joint rental history

Income history

The Credit Report and Why It Means So Much

How a landlord should read a credit report. Stated personal information

Inquiries

Civil judgments

Collection agencies

Trade information or credit history

How should a landlord define good credit?

How should a landlord use the credit score?

What if they have no credit or are a “no hit?”

How do cosigners fit in?

The income requirement can change

John has bad credit or inadequate income. But he seems like a great guy! He’s professional, businesslike, and appears to have his act together. You need to fill your vacancy. Do you really reject the application?

Secondary Screening Measures

Google the tenant

Criminal background check

Employment reference

Landlord reference

Visiting the tenant at his or her present home

Tenant Applications That Are Difficult to Assess

Tenants with undeclared income

Unemployed but flush with cash

Students

Roommates

Tenants on income assistance

New immigrants

Good credit partner, bad credit partner

Let’s Put Theory into Practice!

Case Study #1: Renting Out a Basement Suite

Case Study #2: Renting Out a New Townhouse

Chapter 12. WHAT DO YOU DO IF YOU CAN’T FIND A TENANT THAT MEETS YOUR REQUIREMENTS?

How Does Your Rental Show?

Is It Overpriced?

Allowing personal financial circumstances to affect rental value

Overvaluing renovations

Undervaluing property drawbacks

Reconsider smoking or pet restrictions

Incentives, Marketing, and Other Potential Issues. Offer a rental incentive

Reconsider your marketing strategy

Fielding calls from prospective tenants and showing the home

Never Lower Your Standards

Chapter 13. HOW TO REJECT A TENANT APPLICATION

Learn from the Master of Rejection: The Bank

The reason provided for rejecting the loan is business related

Banks usually have a third party deliver the bad news

Banks keep the conversation brief, but they remain courteous, respectful, and polite

Rejected Applications and Application Deposits

My Final Word on Discrimination

Chapter 14. HOW TO ACCEPT A TENANT: WHAT TO DO FROM THE FIRST MEETING TO MOVE-IN DAY

What to Do When You Call the Accepted Applicant

What to Do at the Meeting with Your Newly Accepted Tenant

Move-In Day

Success!

PART 3. AFTER THE TENANT MOVES IN

Chapter 15. PROPERTY MAINTENANCE MADE EASY

Property Maintenance for Small Rental Properties

Breathing space

Written record that can be used as evidence

Preventive Maintenance

Pest Infestations

What If the Tenant Wants to Renovate the Home, or Offers to Perform Repairs (with the Landlord Paying the Cost of Labour and Materials)?

What about Emergency Repairs?

What If the Tenant Is Locked out of the Home? Is This an Emergency?

What If the Tenant Is Unreasonable about Repairs?

Want a Good Tenant to Stay for Many Years?

Avoid becoming the tenant’s maintenance employee

Chapter 16. EVERYTHING YOU NEED TO KNOW ABOUT VACATING TENANTS

Insist on a Legal Notice to Vacate

Move-Out Procedures You Need to Know

The Move-Out Inspection Report and Returning the Security Deposit

Abandoned Property

What if your tenant dies?

PART 4. HOW TO PROTECT YOURSELF

Chapter 17. WHAT YOU NEED TO KNOW ABOUT SERVING DOCUMENTS

Are You Using the Correct Legal Document?

Did You Fill Out the Form Correctly?

How Should You Serve the Document?

How Will You Prove the Document Was Served?

Chapter 18. HOW TO ENFORCE TIMELY RENT PAYMENTS EACH AND EVERY MONTH

What to do the day the rent is due

What to do the day after the rent was due

Common Misconceptions about Rent “Sending an eviction notice on the day after the rent was due is heavy handed. The tenant should be given time to scrape together the funds.”

“I should reward my tenant for paying rent on time.”

“The landlord must go to the tenant’s home to pick up the rent.”

“Rent doesn’t have to be paid on holidays.”

“Rent can be withheld because the landlord didn’t repair something, or because I’m being harassed, or …”

Accepting a Partial Rent Payment

Your Tenant Didn’t Pay the Rent by the Deadline Specified in the Eviction Notice. Now He or She Is Offering to Pay the Rent in Full. Should You Accept?

When In Doubt about a Rent Cheque, Get It Certified!

Repeated Late Rent Payments: A Cause for Eviction

Chapter 19. MAKE YOUR TENANT PLAY BY THE RULES (OF YOUR RENTAL AGREEMENT)

Anatomy of a Warning Letter

Unauthorized Pets

Unauthorized Occupants

SAMPLE 2: APPLICATION FOR OCCUPANCY

Assignments and Subletting

Noisy and Disruptive Tenants

Noise complaints when you live with your tenant

Noise complaints from your tenant’s neighbour

Noise complaints by your tenant against a neighbour

If the Tenant Seriously Damages the Property

Expedited Eviction for Causing Substantial Damage

Illegal Activity

Marijuana Grow Operations

Chapter 20. I SERVED AN EVICTION NOTICE AND NOTHING HAPPENED. WHAT NOW?

Should You Retain a Lawyer?

Strategies That Could Compel a Tenant to Leave While You Continue to Pursue Eviction through the Legal System

Common Mistakes Landlords Make in Court and How to Avoid Them. Not filling out the forms correctly

Failing to bring all evidence to the hearing

Failing to prove court documents were served

Presenting hearsay evidence

When the property is damaged, presenting ineffective photo evidence and not showing strong evidence of the cost to repair the damage

Confusing the issues at hand

Chapter 21. WHEN ALL ELSE FAILS: BRINGING IN THE BAILIFF

“Soft” Evictions

Executing the Writ

PART 5. MORE ESSENTIALS FOR LANDLORDS

Chapter 22. GOOD PROPERTY MANAGER, BAD PROPERTY MANAGER …

What to Look for

What kind of property does the >manager currently manage?

License status

Get full disclosure of the property manager’s fee structure

Be aware of double costing and illegal fees (to tenant and landlord)

Tradespeople and billing

How will vacancies be advertised?

Is your manager willing to partner with you on tenant selection?

Don’t let your property manager profit from tenant-selection mistakes

Chapter 23. THE NECESSITY OF RENT INCREASES

Chapter 24. SELLING TENANT-OCCUPIED PROPERTY

Choose Your Real Estate Agent Wisely

Avoid Having to Serve Legal Notice for Each and Every Showing

Getting the Ball Rolling with the Sale of Your Rental

What more should your agent do for you?

What if the Tenant Starts to Become Uncooperative?

What if the Tenant Makes False and Misleading Statements about the Property to Turn Off Prospective Buyers?

What Happens When You Receive Your First Offer?

DOWNLOAD KIT

Web Resources for Landlords. Blank Forms

Sample Letters (PDF only)

ABOUT THE AUTHOR

NOTICE TO READERS

Self-Counsel Press thanks you for purchasing this ebook

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Cover

Title Page

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Learn from the Master of Rejection: The Bank

Rejected Applications and Application Deposits

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