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Publié par | Self-Counsel Press |
Date de parution | 01 septembre 2020 |
Nombre de lectures | 0 |
EAN13 | 9781770407725 |
Langue | English |
Informations légales : prix de location à la page 0,0032€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.
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Landlording in Canada Kit
Michael Drouillard, JD
Self-Counsel Press (a division of) International Self-Counsel Press Ltd. USA Canada
Copyright © 2020
International Self-Counsel Press All rights reserved.
Contents
Cover
Title Page
INTRODUCTION
PART 1: BEFORE PLACING THE “FOR RENT” AD
Chapter 1: PREPARING FOR A NEW TENANCY
Is Your Rental Ready for Viewing?
What are Some Common Basics Tenants Expect out of a Rental?
Renovations That Pay for Themselves
Chapter 2: SECONDARY SUITES: PREVENTING PROBLEMS BEFORE THEY START
Excessive Sound Transfer
Sharing Laundry
Ambiguous Boundaries Between Exclusive-Use and Common Areas
Property Maintenance and Secondary Suites
Payment of Utilities
Overwhelmed? You Don’t Need to Be!
Chapter 3: HOW TO DETERMINE RENTAL VALUE
TABLE 1: NEIGHBOURHOOD COMPARISON
How Do Pet or Smoking Restrictions Affect Rental Value?
I’ve Determined Market Value for My Rental Property, but What Do I Do in a Weak Rental Market?
Furnished Rentals
Chapter 4: LANDLORDING ESSENTIAL: MEMBERSHIP IN A LANDLORD ASSOCIATION
Chapter 5: INSURANCE
Types of Insurance
Liability Insurance
Chapter 6: KNOW THE LAW — AT LEAST KNOW THE BASICS
Human Rights Legislation
Privacy Law
Never Accept Tenancy Law Advice from Your Tenant
Chapter 7: START YOUR TENANCY ON THE RIGHT FOOT WITH THE RIGHT FORMS
The Application Form
SAMPLE 1: RESIDENTIAL TENANCY APPLICATION
Receipt Book
Other Forms Required by Your Strata/Condominium Corporation
Other Legal Forms Required by Your Province
Move-In/Move-Out Inspection Form
Proof of Authority to Rent the Property
The Rental Agreement
Rental Agreements and Secondary Suites
Month-to-Month Agreements versus Fixed-Term Leases
Other Important Clauses
PART 2: HOW TO FIND A GREAT TENANT
Chapter 8: PLACING THE “FOR RENT” AD
The Newspaper Classified Ad
What Should Be in the Ad?
Placing Your “For Rent” Ad Online
Chapter 9: AN INTRODUCTION TO TELEPHONE SCREENING
How to Prevent No-Show Appointments
Chapter 10: SHOWING THE HOME AND CLOSING THE DEAL
Stay Safe!
Getting the Application Signed
What if the Applicant Refuses to Give His or Her Social Insurance Number?
Stop Good Tenants from Looking Elsewhere after Filling Out Your Application
Chapter 11: MINIMIZING YOUR RISK: EFFECTIVE TENANT APPLICATION ANALYSIS
The Initial Review of the Application Form
The Credit Report and Why It Means So Much
Secondary Screening Measures
Tenant Applications That Are Difficult to Assess
Let’s Put Theory into Practice!
Case Study #1: Renting Out a Basement Suite
Case Study #2: Renting Out a New Townhouse
Chapter 12: WHAT DO YOU DO IF YOU CAN’T FIND A TENANT THAT MEETS YOUR REQUIREMENTS?
How Does Your Rental Show?
Is It Overpriced?
Incentives, Marketing, and Other Potential Issues
Never Lower Your Standards
Chapter 13: HOW TO REJECT A TENANT APPLICATION
Learn from the Master of Rejection: The Bank
Rejected Applications and Application Deposits
My Final Word on Discrimination
Chapter 14: HOW TO ACCEPT A TENANT: WHAT TO DO FROM THE FIRST MEETING TO MOVE-IN DAY
What to Do When You Call the Accepted Applicant
What to Do at the Meeting with Your Newly Accepted Tenant
Move-In Day
Success!
PART 3: AFTER THE TENANT MOVES IN
Chapter 15: PROPERTY MAINTENANCE MADE EASY
Property Maintenance for Small Rental Properties
Preventive Maintenance
What If the Tenant Wants to Renovate the Home, or Offers to Perform Repairs (with the Landlord Paying the Cost of Labour and Materials)?
What about Emergency Repairs?
What If the Tenant Is Locked out of the Home? Is This an Emergency?
What If the Tenant Is Unreasonable about Repairs?
Want a Good Tenant to Stay for Many Years?
Chapter 16: EVERYTHING YOU NEED TO KNOW ABOUT VACATING TENANTS
Insist on a Legal Notice to Vacate
Move-Out Procedures You Need to Know
The Move-Out Inspection Report and Returning the Security Deposit
Abandoned Property
PART 4: HOW TO PROTECT YOURSELF
Chapter 17: WHAT YOU NEED TO KNOW ABOUT SERVING DOCUMENTS
Are You Using the Correct Legal Document?
Did You Fill Out the Form Correctly?
How Should You Serve the Document?
How Will You Prove the Document Was Served?
Chapter 18: HOW TO ENFORCE TIMELY RENT PAYMENTS EACH AND EVERY MONTH
Common Misconceptions about Rent
Accepting a Partial Rent Payment
Your Tenant Didn’t Pay the Rent by the Deadline Specified in the Eviction Notice. Now He or She Is Offering to Pay the Rent in Full. Should You Accept?
When In Doubt about a Rent Cheque, Get It Certified!
Repeated Late Rent Payments: A Cause for Eviction
Chapter 19: MAKE YOUR TENANT PLAY BY THE RULES (OF YOUR RENTAL AGREEMENT)
Anatomy of a Warning Letter
Unauthorized Pets
Unauthorized Occupants
SAMPLE 2: APPLICATION FOR OCCUPANCY
Assignments and Subletting
Noisy and Disruptive Tenants
If the Tenant Seriously Damages the Property
Expedited Eviction for Causing Substantial Damage
Illegal Activity
Marijuana Grow Operations
Chapter 20: I SERVED AN EVICTION NOTICE AND NOTHING HAPPENED. WHAT NOW?
Should You Retain a Lawyer?
Strategies That Could Compel a Tenant to Leave While You Continue to Pursue Eviction through the Legal System
Common Mistakes Landlords Make in Court and How to Avoid Them
Chapter 21: WHEN ALL ELSE FAILS: BRINGING IN THE BAILIFF
“Soft” Evictions
Executing the Writ
PART 5: MORE ESSENTIALS FOR LANDLORDS
Chapter 22: GOOD PROPERTY MANAGER, BAD PROPERTY MANAGER …
What to Look for
Chapter 23: THE NECESSITY OF RENT INCREASES
Chapter 24: SELLING TENANT-OCCUPIED PROPERTY
Choose Your Real Estate Agent Wisely
Avoid Having to Serve Legal Notice for Each and Every Showing
Getting the Ball Rolling with the Sale of Your Rental
What if the Tenant Starts to Become Uncooperative?
What if the Tenant Makes False and Misleading Statements about the Property to Turn Off Prospective Buyers?
What Happens When You Receive Your First Offer?
DOWNLOAD KIT
ABOUT THE AUTHOR
NOTICE TO READERS
Self-Counsel Press thanks you for purchasing this ebook.
INTRODUCTION
A key premise of Landlording in Canada is that correct tenant screening means almost everything to the small landlord. Much of this book is dedicated to successful tenant selection and teaching you how to assess a tenancy application. For instance, many of us have heard that “credit checks are a must.” But how do we access credit information? How do we interpret it? Can you simply rely on the credit score? These questions, and many others, will be answered here.
It is one thing to learn the theory behind successful tenant screening and another to put it into practice. To make your learning curve a little less steep, included are sample case study tenant applications based on actual applications I have received as a property manager. You’ll be challenged to find as many problems with the applications as you can, and to make a decision to reject or accept the prospective tenant. Ultimately, you will learn how to make an informed decision without even meeting the applicant face-to-face.
Some inexperienced landlords pick good tenants on their first or second try without any real screening. These landlords may claim their gut feelings led them to make the right decision. In fact, they got lucky. This book shows you how to take luck out of the equation, by systematically evaluating a prospective tenant’s financial qualifications. No tenant screening system is risk-free, but the right system can lower your risk of selecting a bad tenant.
You won’t find chapters and chapters of discussion about subjects such as insurance and bookkeeping here. Maintaining adequate insurance on your rental and keeping good financial records is important, but what is far more important right now is that you learn how to objectively analyze a tenant application in order to minimize your risk. After all, what good is an efficient accounting system when there is zero income coming in because you have a poorly screened tenant not paying rent?
Tenancy laws change constantly, and they can vary quite significantly province-by-province, but t