7 Things To Look For In A Management Agreement

If you’re a Landlord who’s decided to hire a professional Property Manager, do you really need a written Management Agreement? ABSOLUTELY. Management Agreements outline the terms of your agreement with the management company – how long they will be responsible for the property, what they will do, how much they’ll charge and so on. Some of the important things to look for are: When the agreement commences and ends and if there are any renewal clauses. Does it automatically renew until it’s cancelled? Under what circumstances can the agreement be terminated? How much will you pay them each month? Is…

Can You Be A Long Distance Landlord?

Absolutely you can be a long distance Landlord! But how you achieve this successfully can be a bit more complex. Owning property in the Nanaimo area is a smart decision even if you don’t live here. Home prices are more affordable than in some other areas of the province and with the current exchange rate against the US dollar, now is a great time to make the leap if you’re an American looking for investment opportunities. Prices, while still affordable, have room to grow and your real estate investment will most likely continue to appreciate in value over the foreseeable…

Should You Tell Your Landlord You Are Moving?

If you’re a tenant, when is the best time to tell your Landlord you’re buying a house and are going to be moving out? Should you tell your Landlord you are moving? The short answer is – that depends. Tenancy Agreement First of all, if you have a fixed term tenancy agreement with a specific end date, you can’t end the tenancy before that date without being responsible for the rent if the Landlord can’t re-rent the place right away. Let your real estate agent know when your end date is and you may be able to work your purchase closing date…

5 Common Mistakes Tenants Make

Renting a home can be an eye opening experience. If you’re a Tenant considering renting a property, here are 5 mistakes Tenants make – that are easy to make and avoid! Mistakes Tenants Make Not knowing what your Tenancy Agreement says. If you listened to your parents growing up, you know never to sign anything you haven’t read. Make sure you go through the whole tenancy agreement before you sign it and clarify any areas of concern. Once you’ve signed it, it’s too late and you’re bound by the conditions in the agreement. Not getting copies of the Tenancy Agreement…

Nanaimo School Catchment Areas

If you’re in search of a new home and have school age kids, it’s important to know where Nanaimo School Catchment areas and boundaries are for the school you want your kids to attend.  This is because if you don’t live within the catchment boundary, you may have a tough time enrolling the kids in that particular school. Do you know what Nanaimo School Catchment areas you prefer your children to be in? School District 68 For help with this, we looked to the Nanaimo Ladysmith Public School District website, located at www.sd68.bc.ca. By clicking on the Schools tab and…

Serving A Notice To End A Tenancy

Part 4: Notice to End Tenancy Series We’ve looked at the different types of Notice to End Tenancy that a Landlord can use. Properly Serving a Notice is as important as the notice. Keep in mind, the method of delivery is important for determining when the notice is deemed received by the Tenant, which can also affect the effective date (in the case of a 10 Day Notice). 3 ways to serve a notice In Person. If you physically hand the Notice to the tenant, or an adult person who appears to reside at the rental property, it is deemed delivered to the…

Two Month Notice to End Tenancy For Landlord Use

Part 3: Notice to End Tenancy Series Did you know a Landlord can end a tenancy by giving the Tenant two months notice to end Tenancy for Landlord use of the property? There’s only a handful of circumstances under which this can be done and as always, the Landlord should check with the Residential Tenancy Branch for details specific to their situation. When can a Landlord end Tenancy for Landlord use? The Landlord or a close family member of the Landlord (father, mother or child) is going to be moving into the rental property. This also applies to an individual (or their close…

Hiring Property Manager

Hiring Property Manager: RE/MAX of Nanaimo Property Management is currently seeking a Residential Property Manager for an exciting career opportunity within our team.  The individual must hold a current license in Rental Property Management and have excellent communication skills. Hiring Property Manager Responsibilities Responsibilities includes, but not limited to:    Conducting property assessments    Client relations and development of new client acquisitions    Showing properties to prospective tenants.    Maintaining a client data base    Ability to work with both tenants and property owners    Establish good working relationships and problem solving    Creating and administering leases and rental agreements The applicant…

One Month Notice to End Tenancy For Cause

Part 2: Notice to End Tenancy Series As a Landlord, what recourse do you have if your Tenant isn’t really holding up their end of the bargain?  Under a few specific circumstances, you can end the tenancy by giving the Tenant a One Month Notice to End the Tenancy For Cause. 7 reasons that qualify as a Cause to issue a One Month Notice Repeated late payment of rent (the Residential Tenancy Office defines this as at least 3 times, and it should be over a relatively short period of time, for example 3 times in 6 months) Illegal activity that has or…

10 Day Notice to End Tenancy For Unpaid Rent or Utilities

Part 1: Notice to End Tenancy Series When the tenant hasn’t paid the rent (or utilities) on the day it’s due (usually the first of each month), Landlord’s may consider issuing a 10 Day Notice to End Tenancy for Unpaid Rent or Utilities. The form is available online at the Residential Tenancy Branch website. 10 Day Notice to End Tenancy For Unpaid Rent form #RTB-30 here. Delivery effective date The day you are delivering or sending the notice is not counted, so if you issue a 10 Day Notice on the 2nd of the month, the ten day period actually commences…