The Art of the Reference Check: Questions to Ask a Former Landlord
Finding the ideal rental property is a joyous occasion, but securing it involves more than just a strong credit score. For landlords, the quest for a responsible tenant is paramount, and it goes beyond the face value of an application. A comprehensive reference check on a prospective tenant is an indispensable step. It gives you […]
Best Practices for Landlords: Creating a Late Rent Policy that is Fair and Firm
Late rent payments are an inevitable part of property management. It’s not a matter of if, but when. For landlords, a clear and effective late rent policy is more than just a set of rules; it is a critical tool for protecting their investment and ensuring financial stability. Without a proper framework, property owners face […]
How a Solid Pet Policy Protects Your Property and Tenants
Having a pet brings immense joy and companionship to many people. For many renters, their pets are considered part of the family. Landlords are increasingly recognizing this reality, with a 2022 study by the Canadian Animal Health Institute (CAHI) reporting that over 60% of Canadian households have at least one pet. While this trend offers […]
Common Mistakes Landlords Make on Rental Applications (and How to Avoid Them)
A thorough rental application process protects both landlords and tenants. It ensures a good match, leading to a stable tenancy and a positive living situation for everyone involved. For a landlord, a carefully vetted application can prevent many future problems, from late rent to property damage. For a tenant, it guarantees they are moving into […]
The Landlord’s Checklist: What Documents You Must Keep (and For How Long)
A notice arrives from the Canada Revenue Agency (CRA) requesting an audit of your rental property income and expenses from two years ago. Immediately, a wave of panic sets in. You remember stuffing a shoebox full of receipts and old paperwork but have no idea if you kept everything you need. This is a common […]
How to Organize Your Rental Property Records for a Stress-Free Tax Season
The arrival of tax season can bring a sense of deep unease for many, and for owners of rental properties, this feeling is often magnified. The prospect of sorting through a year’s worth of financial paperwork can be daunting. From forgotten receipts to lost invoices, the disorganization can quickly turn a simple task into a […]
Summer Property Maintenance for Landlords: Your Guide to Beating Heat and Bugs
Warmer months present distinct challenges for landlords, encompassing elevated temperatures and increased pest activity. These seasonal shifts necessitate a heightened focus on property maintenance to ensure tenant well-being and safeguard asset value. Proactive maintenance strategies are crucial for mitigating the impact of these seasonal stressors. This article delineates practical, research-inf
Handling Offers: How to Objectively Compare Multiple Rent Applicants
You’ve just listed your rental property, and the applications are pouring in. The inquiries and showings have been a huge success. You have more than one person who wants to sign a lease. Now what? You have to choose one. Choosing the best tenant can feel overwhelming, especially when you have multiple qualified applicants. How […]
Highlighting “Must-Haves”: What Canadian Tenants Look for in Summer Rentals
The Canadian summer rental market demonstrates robust growth, with a wide array of options appealing to vacationers. This ranges from tranquil lakeside cottages in Ontario’s Muskoka region to vibrant urban apartments in Ottawa or Toronto. The allure of domestic travel, coupled with diverse landscapes, fuels consistent demand for short-term accommodations during warmer months. Tenant expectat
Property Management Income and Expenses: A Comprehensive Guide
Property management encompasses the oversight of residential, commercial, or industrial real estate. Its core functions involve managing day-to-day operations, tenant relations, maintenance, and financial administration. A thorough understanding of income and expenses is paramount for successful property management, enabling informed decision-making, optimizing profitability, and ensuring long-ter