Fixed Term Rental Agreement VS. Month-to-Month

In British Columbia, there are two main types of Tenancy Agreements. We’ll take a look at some of the similarities and differences between them and explain why one agreement may suit your situation better than the other. Similarities Between Fixed Term and Month-to-Month Agreements Typically, rent is due on the 1st day of each month, unless otherwise agreed upon in writing. Security deposits. In B.C., security deposits cannot exceed one half month rent. The deposit is payable before the Tenancy begins. Likewise, Pet Damage Deposits, if applicable, cannot be more than half a month rent. Whether or not they are permitted,…

How to Give Proper Notice on Your Rental

Residential tenancy laws in British Columbia are sometimes confusing and often misunderstood. For Tenants who want to end a tenancy, there are specific requirements which must be included in their written notice. If the notice isn’t fully complete, it could be considered improper or unacceptable. Requirements for Ending a Month-to-Month Tenancy Notice must be in writing. Notice must be received by the Landlord on a day before the rent is due. Assuming rent is due on the 1st of the month, if a Tenant wants to leave, for example, on April 30, then notice must be received by the Landlord…

$500 a Month for Renters: B.C. Imposes Moratorium on Evictions

B.C. Imposes Moratorium on Evictions These days there are so many questions around paying rent and evictions. Just this week Premier John Horgan announced protective measures imposed a moratorium on residential evictions and will provide renters with up to $500 per month for the next four months to meet rent payments. The B.C. government has taken these protective measures Wednesday amid the ongoing financial crunch of the novel coronavirus pandemic. “B.C. is suspending current and future evictions until this crisis has passed,” Horgan told reporters in Victoria. These rental rebates will be available April 1, 2020 and will be paid…

COVID-19 Office Update

Nanaimo Rentals and Property Management Posted COVID-19 Safety Plan December 1, 2020 COVID-19 could be introduced to our workplace from a number of sources including: Staff Delivery people and suppliers REALTORS Clients/Visitors/Guests Every person with exposure to outside elements has the potential to introduce COVID-19 into our workplace. Masks Mandatory in the offices – Due to an increase in the following: The Provincial Government has mandated a Health order requiring the use of masks in all public spaces. The number of Island and BC Covid-19 cases The amount of seasonal travel The number of out-of-town buyers coming into the offices…

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…

Sign Up to Receive Our Monthly Newsletter

Subscribe to our Monthly Newsletter

* indicates required
Nanaimo Property Management Subscribers

Rentals By Sub-Area