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Investor Newsletter Fall 2013

Posted on November 07, 2013

TENANCY INFO: DID YOU KNOW?

Ending the Tenancy

Verbal notice is not enforceable. The tenant must provide written notice to end the tenancy before the day the rent is due.

The landlord must provide written notice using an approved form to end the tenancy.

The Landlord can use the following notices as appropriate:
(a) 10-day notice for unpaid rent or utilities.
(b) One-month notice for cause. A list of causes can be found on the notice.

(c) Two-month notice for landlord’s use of property. This applies when the landlord plans to move in, do major repairs, convert the unit or has sold the property and the new owner, or a close family member intends to live in the rental unit. The tenant must be compensated to an amount equal to one month’s rent on or before the last day of the tenancy.

The landlord and tenant must do a move-out condition inspection at the end of a tenancy, when the rental unit is vacant. This is required by law. Complete a condition inspection report when the tenant moves in and when they move out.

MAINTENANCE: DID YOU KNOW?

The landlord must keep the rental unit in a condition of repair that complies with health, housing, and safety standards and do emergency repairs without delay.

If the rental unit is in bad shape because the previous owner or tenant left it that way, you cannot rent it to someone else in the same condition. The law requires that the rental unit must be in good condition before you rent it out. All the appliances must be in good working order and the rental unit and property must be in reasonably clean condition.

The tenant must keep the rental unit clean and sanitary and repair any damages caused by them, or a guest.

The tenant should inform the landlord in writing of needed repairs, and contact the landlord without delay for emergency repairs.

Whether you are considering selling your rental property in order to take out your equity, or planning to sell your principle residence, I will be pleased to do an up to date Market Evaluation at no cost or obligation to you. For more information please call 604-779-3160.