Rental Repairs – Who is Responsible for What?

You’ve signed a lease on a new apartment and you’re excited about your new digs…but what if things don’t work according to plan. The electrical outlet that will power your beloved Nespresso machine is dead or the sink perpetually drips? What to do? Well, before moving in, be sure to conduct your own inspection preferably alongside a property manager or landlord. Make note of things that aren’t functioning properly, taking ...

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Property Maintenance – Someone’s Gotta Do It

What are tenants responsible for? Renters often get a bad rap – a reputation as messy, careless and disrespectful to properties. This is really unfortunate given the majority of renters who do treat their rental home like it was their own. Maintaining a property is the shared responsibility of both landlords and tenants. Landlords must ensure it is clean, safe and livable before new tenants move in but once in, the best ...

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Ins & Outs of BC’s Empty Home Taxes

As part of a 30-point plan to help alleviate the housing crisis, the Province of British Columbia has imposed a speculation and vacancy tax hoping to turn vacant, under-utilized properties into homes for people living and working in BC. For Vancouverites, this is in addition to the civic Empty Home Tax levied for the same reasons. Though the intent of these taxes is noble, the implementation has proven confusing and ...

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Should you allow pets in your rental?

Sure it's easy to say ‘no pets’ when listing your property for rent. But is it necessary?  Provided pets are allowed by your strata by-laws, you may be missing out on exceptionally good tenants by stipulating ‘no pets’.   Moreover, here in Vancouver, pet-friendly rentals are difficult to find so if you do allow them, you can likely exact a higher rental rate and a pet deposit. Be Open to Pets Rather than ...

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Furnished vs. Unfurnished Rental – A Landlord’s Perspective

Furnishing a rental property is a considerable expense. Should you spend the money or let your tenants furnish your unit?  Here are a few things to consider when making the decision. Benefits of Furnishing Your Property You can demand higher rent. A good furnished property rents for 25 to 75%  more than an unfurnished property. However, the higher the rent, the less likely the tenant is to stay long term. It ...

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Picking the Right Tenant is No Easy Feat

Your tenant can be your best ally or biggest problem, so do your due diligence before signing a lease and choose the right tenant. Tenant turnover is arguably the single biggest cost for you as a landlord. Whenever a tenant vacates, significant costs are incurred. The cost of vacancy, for example - your property may be vacant for one month or more, impacting cash flow. You will also likely have to ...

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