Found 3 blog entries tagged as landlord.

Building a successful landlord-tenant relationship is crucial for a smooth rental experience. Both parties benefit from clear communication, mutual respect, and understanding. In this article, we'll provide valuable tips to help foster a harmonious relationship between landlords and tenants.

Clear Communication:

Effective communication is the foundation of any successful relationship. Establish open lines of communication from the beginning. Encourage tenants to reach out with any concerns or questions. Respond promptly and address issues in a professional and respectful manner.

Written Agreements:

Draft comprehensive lease agreements that clearly outline the rights and responsibilities of both parties. Include rent amount, due date, lease…

329 Views, 0 Comments

Read Full Post

Chances are, most Canadians won’t be flying south this winter for a sun-soaked holiday so they may be looking for domestic vacation rental properties. If you own a cottage and are considering renting it out for the holiday season or the entire ski season, this is a great time to do so, says HGTV’s Income Property and cottage rental expert Scott McGillivray.

“Right now, more than ever, with international travel at a standstill, domestic vacation properties are at a premium,” says McGillivray. “It’s hard to ignore the size of the opportunity and the rental rates you can generate.”

However, if you’ve never played landlord before, you’ve got some homework to do first. We asked McGillivray for his best advice on how to protect your home, your stuff…

286 Views, 0 Comments

Read Full Post

 

Renting out your property is a great way to bring in income. However, finding the right tenant can be a tricky process. Whether you are handling the process on your own or delegating the task to an agent, here are the seven main things to look out for when screening potential tenants.

Proof of Income

The first thing you need to check is whether your future tenants will afford to pay rent. Ideally, their monthly income should be at least three times the rent. Pay stubs, tax returns and even bank statements would confirm whether the figures add up. But if it looks like your tenant will be spending more than 30% of their income on rent, they may encounter difficulties making payments later on.

Credit Score

A tenant’s credit score…

476 Views, 0 Comments

Read Full Post