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…

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 Landlords Make

Are you a Landlord looking after your own rental property? If so, watch out for the following common mistakes Landlords make. Mistakes Landlords Make Incomplete or improper paperwork. Make sure you complete a Tenancy Agreement with your new tenants before they move in. This details all the important information relating to the property, the rent, security and/or pet deposits, as well as who is responsible for what type of maintenance etc. If you have additional rules, make sure you attach a list of these as well so everyone knows what’s expected. Each tenant on the agreement, as well as the…

Renting? Tips for Maintaining Your Yard

If you rent a home, you might wonder what your responsibilities are regarding yard work. If you live in a condo or apartment, you probably don’t need to worry about this, but if you live in a duplex or a house, it’s generally up to the tenant to look after the yard. That’s why we came up with tips for maintaining your yard. Lawn mowing watering (when allowed) fertilizing Weeded and watering flower beds shrubs No one likes a messy yard and it doesn’t reflect well on the home or on you if things are overgrown or dead. Tips for maintaining…

Tenants – How can You Save Money by Going Green?

We all know that reducing our energy and water consumption is great for the environment and it can also save you money.  Do you know how to save money by going green? If you are ready to make changes to lessen your impact on the world around you, here are just a few tips to get you started. Lights Turn off unnecessary lights. If you’re not in the room or there’s enough natural light, don’t use lights you don’t really need. You can further cut costs by using LED light bulbs.  Did you know that: LED lights use 75% less…

Make Your Investment Property More Cost Effective by Going Green

We often hear about commercial properties going green and the benefits to the property owner of doing so. But as a residential Landlord, what can you do to make your investment property more cost effective, energy efficient and better for the environment? Is it possible to make your investment property more cost effective by going green? Lighting. Did you know that LED lights use at least 75% less energy than regular bulbs? And while they may cost a little more, they last anywhere from 15 to 20 times longer than incandescent bulbs, and 3 times longer than CFL’s (compact fluorescent lamps),…

How to Get Along with your Tenant

We’ve looked at how Tenants can get along with their Landlords, but what about the other side of this? As a Landlord, do you know how to get along with your Tenant? What can you do to make sure your Tenant is happy and content in your rental property? Get along with your Tenant Once you and your tenant have completed the move-in condition inspection and they are getting settled, leave them alone. Your investment property is their home now, so let them get used to it. Chances are, if they discover a maintenance problem, they’ll let you know. You’ll want…

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