What if a tenant wants to Leave?

If a tenant wants to leave

A tenant must give their landlord written notice if they plan to move out. The proper form for this notice (Form N9) is available from the Board. The amount of notice that is required is based on the rental period, as follows:

If the tenant:	then the tenant must give:	and the termination date must be:
pays rent on a daily orweekly basis,	at least 28 days notice,	the end of a weekly rental period.  (This only applies to weekly tenancies.)
pays rent on a monthlybasis,	at least 60 days notice,	the end of a monthly rental period.
has a lease for a fixed term,	at least 60 days notice,	no earlier than the last day of the lease.

A tenant and landlord can agree to end a tenancy early. The parties can make an oral agreement to end the tenancy, but it is best to have a written agreement. A notice of termination does not have to be given by either the landlord or the tenant if there is an agreement to end the tenancy.

A tenant in a care home can end a tenancy early, by giving at least 30 days notice in writing to the landlord.

Entry with 24 hours Written Notice

Entry with 24 hours written notice

A landlord can enter the rental unit between 8 a.m. and 8 p.m., and only if they have given the tenant 24 hours written notice:

• to make repairs or do work in the unit, 
• to carry out an inspection, where reasonable, in order to determine whether repairs are needed,
• to allow a potential mortgagee or insurer of the complex to view the unit, 
• to allow a potential purchaser to view the rental unit (note: the Act also allows a registered real estate agent or broker to enter for this purpose if they have written authorization from the landlord),
• to allow an engineer, architect or other similar professional to make an inspection for a proposed conversion under the Condominium Act; or
• for any reasonable purpose allowed by the rental agreement.

The notice must include the reason why the landlord wants to enter the rental unit and must state what time, between 8 a.m. and 8 p.m., the landlord will enter the unit. If the landlord gives the tenant the correct notice, the landlord can enter even if the tenant is not at home.

When can a Landlord enter without written notice

Entry without written notice

A landlord can enter a tenant’s rental unit without written notice if:

• there is an emergency such as a fire, 
• the tenant agrees to let the landlord in, 
• a care home tenant has agreed in writing that the landlord can come in to check on their condition at regular intervals.

A landlord can enter a rental unit without written notice, between 8 a.m. and 8 p.m.if:

• the rental agreement requires the landlord to clean the unit – unless the agreement allows different hours for cleaning, 
• the landlord or tenant has given a notice of termination, or they have an agreement to end the tenancy, and the landlord wants to show the unit to a potential new tenant (in this case, although notice is not required, the landlord must try to tell the tenant before entering for this reason).

Guarantor agreement- why you would need one!

What is a guarantor agreement?
A guarantor agrees to pay the rent in case of default by the tenant.  You should have the guarantor complete an application and do a credit check to ensure that they can pay the rent and any other expenses as specified on the lease, in case the tenant does not pay.
Who would need a guarantor?
A student or any tenant that does not have any source of income to pay his rent.
Does it have to be notarized? NO.
If the guarantor agreement can not be signed in the presence of the landlord or his agent, it can be signed in the presence of a notary public or commissioner of oaths.
Here is a free sample that you can use just click on this LINK

CRA form - the one the government uses when you report your rental income and expenses

Here is the form that Canada Revenue Agency uses when calculating the income and expenses.  Print it off and use it as a guideline to know what kind of expenses are allowed.  If you drive, make sure that you keep track of your kilometers in the beginning of the year and take note of what it is at the end of the year.  Calculate how far the rental property is from your home and the number of trips that you take and you can deduct the expenses for running the car, gas, car wash, insurance, license renewal ( plates), depreciation, car payments, oil changes and any other expenses that you incur insofar as your car is concerned.
In addition your have all the regular expenses, mortgage, interest, ( only interest can be claimed in Canada), utilities, legal, office, accounting expenses etc.
This form will be a great outline for those of you who are just starting out.  If you have a specific question, feel free to post it on the blog and I will try and answer it asap.

How to improve your chances of collecting a bad debt from a tenant Part 1

• 1) Complete application.  Don’t settle for anything less than an application that is filled out completely!  Itsounds simple, but you would be amazed how many rental applications we see as a collection agency that arrive at our office half empty.  A partially filled in application will rob you of future income. 
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2)  A verified Social Security Number, previous address verification and three personal references are a must!

• The previous address and Social Security Number will help identify a debtor when he or she skips and is living elsewhere. 
• The three personal references could be instrumental in helping your collection agency find them and collect any money owed.
  
  

3)  Bank Accounts!

Make a photocopy of a prospect’s check, and the rent check every month. 

• That way, you will have the right information for recovery, and you may discover a secondary bank account or other changes crucial to collection. 
• If this person skips owing money, a record of their current back account numbers can spell the difference between successful collection and no collection at all
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4)Check Their Driver’s License.  Make a photocopy of the prospects’ driver’s license and Social Security card.  It is not uncommon for a bad ex-tenant to avoid a bad reference by claiming identity theft and saying he or she “never lived there”.  Copies of these documents will be crucial in identifying the debtor and collecting your money

5) Avoid the “Company Name” Scam.  If your prospect says “I would like to put the apartment in my company’s name,” your mind should hear “RED ALERT! “ It is a common scam for people with bad credit or rental history to try to rent under a company name to prevent you from running their credit. 

• It is often far more difficult to collect a debt from a company than it is from an individual. 
• Even if the ‘company’ exists, you must go through proper channels to bind it to the lease.  If you do write a corporate lease,  ALWAYS acquire the proper documentation to show the company is in good standing, and the person signing the lease is authorized to do so.
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• 6) Background Check Co-Signers.  One way to rent to someone with questionable credit or rental history is to require a co-signer. But avoid the common mistake of accepting a co-signer without checking their credit and rental history. It is crucial to collection to have the co-signer complete a rental application and sign an iron-clad agreement.  In fact, it is extremely important for every adult moving into the apartment to complete an application and sign the lease.  This gives you far more leverage and ability to collect any future debts
  7) Signed Move-In Statement.  Congratulations, you found a new tenant!  No need to walk through the unit – we’re all friends here, right?  Wrong!  For both your and your new tenant’s protection, walk through the unit with them before they move in.  Make accurate and legible notes about the condition of the unit. ”I wish I had a nickel for every debtor who says the apartment was cleaner when he moved out that when he moved in.” A signed Move-In Statement can prove him wrong
  
  
  
  

How to spot a nightmare tenant Part 4

1) Tenants that are not earning any income
 If you are going to rent to students or other non earning tenants, then get the guarantor  to sign and check them out to make sure they can pay the rent.  This could be their parents or a spouse.
2) Talk less and listen more
Learn to ask questions and listen to their answers and how they answer.
Instead of talking about the property and how wonderful it is, ask questions of the tenants and everything that you want to know about them.   At the beginning they are willing to provide as much information which later on may be more difficult to get
3) Do regular investigations of the property and let them know on the onset that you will be doing routine checks on the property.
4) Follow your process and do not deviate.  Do your checks, get them to complete the application --all of it and get that missing information. Take your time and follow through on all the reference checks and request proof of income.
5) Ask to see two pieces of ID and make one of them a driver's license so that the previous address should match what they gave you on the application.  Also their name and date of birth should match.
You's be surprised how many people do not give their true identity.

In the end it is your property and it is up to you whether you want to rent it or not. After all, if you son't do your homework first, you will end up with the big headaches.