Make Sure to Document Everything
A written lease is
very important. You need the right rental agreement for your situation and
state.
You need to record
the condition of the home before the tenant moves in
(property inspection report or Condition Report).
Photos of the property
are a great idea. List anything that can be moved, broken, or dug up.
You will need to
create a document that covers points that are specific to your property,
in detail.
This paper should
cover things like repairs, pets, deposits, late payment charges, utilities
(water charges are a big issue).
Handshakes And
Verbal Contracts/Leases
Verbal contracts
and handshakes for leasing will not stand up in CTTT (Consumer, Trader
and Tenancy Tribunal)at all, especially if you have to clime damages
to the property.
Common sense
should tell you it’s best to have a signed lease, just to enforce the rules if
nothing else.
You can obtain standard,
generic Residential tenancy agreement online, but they won’t apply to
some things about your property.
Even if a tenant
is in a property under a verbal agreement, they still retain protection
under the law.
A casual agreement
to rent doesn’t mean a casual eviction.
The same legal process
for eviction will apply, whether or not a formal lease was contracted.
The courts tend to
give the tenant the benefit of the doubt in disputes over rent and eviction because he/she will be losing their home when it’s all done.
This is probably
the single biggest step you can take to protect your property.
RealRenta has all
the tools that a property manager has, but at over ¼ the cost of a property
manager.
Join now and the
cost is less than a cup of coffee a week to manage your rental property
RealRenta also has a
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Jason Gwerder
Friday, 19 March 2021
