In RTA Part 3 we talked about move-in and move-out condition inspections. Today we’ll take a more detailed look at rental security deposits. How much can be charged? How many rental security deposits can be required? What can deposits be used for? Is a Tenant entitled to interest on their deposit? Rental security deposits A Landlord may collect a Security Deposit of up to a maximum of one half-month rent as a condition of entering into the Tenancy Agreement. If a Tenant has pets, the Landlord may also require a separate Pet Damage Deposit, which may also be to a…
When you are a tenant, there are two deposits that may be required before taking possession of your new home. Perhaps you’ve sold your home and haven’t rented in some time, or are a first-time renter. Are you prepared for renting a property? Knowing in advance how the security deposit and pet deposit works, will help you understand why they are required and how they are used. Security deposit The first is the security deposit (incorrectly referred to as the Damage Deposit at times). In B.C. this deposit cannot exceed one half months’ rent and is held by the Landlord or Property Manager until…
By now you’ve reviewed our Summary of Landlord Services. But let’s take a little more detailed look at some of what Property Management services for Landlords are available – from RE/MAX of Nanaimo Property Management that is! Property Management services for Landlords ADVERTISING. Our website is a great resource for tenants looking for a new home. If a property is available for rent, it is on our website, complete with a detailed write up and current photos. This advertising will also be shared on Craigslist, Kijiji, UsedNanaimo and on the RE/MAX of Nanaimo insider page for internal groups with 100+ members. We…
The Residential Tenancy Act is long and complicated. But as a Tenant, there are a few key sections you should be aware of. This is not a legal opinion or advice, but rather a general overview. For exact wording, legal interpretations or to find out about your own personal situation, please contact the Residential Tenancy Office at 1-800-665-8779, or check their website at www.rto.gov.bc.ca 5 key sections Giving your Landlord notice to vacate. How do you give proper legal notice? Does it have to be in writing? Can you send it by email? In this article we’ll deal with the…
Moving can be difficult at the best of times. But moving around the holidays can be even more challenging for a variety of reasons. If you’re planning a move near the Christmas season, finding a new place to live can be the first of many issues that you’ll face. Most people don’t tend to move around the holidays – everyone is settled in, enjoying the festivities. But, that can make available rentals hard to come by and the good ones get snapped up fast. Availability At RE/MAX of Nanaimo Property Management, we’re available year round to help you with your…
You’ve been renting a place for a while now and the time has come to move out. What happens next? What does your Landlord expect from a move-out inspection when you vacate the property and how can you ensure you’ll get a full refund of your security deposit? Move-out inspection cleaning standards First off, clean the premises. Clean the floors, the walls, and the appliances (inside and out, under and around). Don’t forget to clean the windows, the window tracks, the bathrooms, and the cabinets (inside and out). Anything that can collect dirt or dust should be wiped down, washed and…
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 Ending Tenancy There are three main ways to end tenancy that a Landlord can use. Occasionally, a Landlord wants to…
Your property will be cared for and managed carefully under the watchful eyes of our experienced professional managers. RE/MAX Property Management has specialized advertising and marketing resources available to successfully promote your rental property and to screen potential tenants. Just some of what we do and offer our clients: Prompt friendly service FREE ASSESSMENT of your property Advertising and promotion of your rental property Maximize rental incomes Property showings Thorough screening of tenants including credit checks, reference checks, verification of employment and ability to pay the rent, and any other screening required to make good decisions Collection of rents, security or…
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…
Last article we discussed the Landlord’s right to enter or inspect the rental premises. In Part 3 of the Residential Tenancy Act, we’ll take a look at move in and move out inspections. Are you aware of your responsibilities as a Tenant or those of the Landlord? Inspection report At the beginning and end of a tenancy, a condition inspection of the rental property must be completed and a report signed by both the Landlord and Tenant. This documents the condition of the rental unit and includes any damages or repairs which may be necessary. Any new damages that are as…
