Residential Tenancy Act Information
The Residential Tenancy Act is long and contains a lot of information. We can help you get to know your rights and obligations as a Tenant or as a real estate investor (Landlord). We’ve put together and series of articles pointing out a general overview for some of the Acts laws. For exact wording, legal interpretations or to find out about your own personal situation, please contact the Residential Tenancy Office or check their website at www.rto.gov.bc.ca.
Residential Tenancy Act
There are three main ways to end tenancy that a Landlord can use. Occasionally, a Landlord wants to take back possession of their rental unit or investment property. It could be to renovate, move back in, or because the Tenant is not paying rent on time. Below are the different types of Notices to End Tenancy that are available to Landlords, and under what circumstances each one can be used.
- Ten day notice for unpaid rent or utilities
- One month notice to end tenancy
- Two month notice to end tenancy
Properly serving a notice is as important as the notice. The method of delivery is important for determining when the notice is deemed received by the Tenant, which can also affect the effective date.
Tips and Services
- Security and pet deposits. A Landlord may collect a Security Deposit (incorrectly referred to as the Damage Deposit at times) of up to a maximum of one half-month rent. If a Tenant has pets, the Landlord may also require a separate Pet Damage Deposit.
- Management agreement. Even if you have investment properties and decided to hire a professional Property Manager. 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.
- How easy it is to be a long-distance Landlord.
- Dropping by your rental property.
Review RE/MAX of Nanaimo Property Management Summary of Services here. Our website is a great resource for real estate investors looking for Property Management services, and tenants looking for a new home.