The relationship between a landlord and their tenant can get a little tense if one or both parties are not doing their part to keep the property in good shape. In many cases, it can be a simple fix or a change in processes.
Here at Bridgeway, we recommend that our landlords take control of situations like this, and maintain the upper hand in arguments regarding their property. Another thing we also recommend is that you understand what your responsibilities as a landlord are. Here are some of the requirements you need to meet as a landlord with a rental property.
- Maintenance – As the owner and landlord, it is your responsibility to provide maintenance on necessary items such as large appliances.
- Damages – Any damages that occurred prior to your new tenancy, must be repaired. This is without contest. If the tenant is aware of the damages, you still have to repair those damages.
- Keep Records – It just makes sense to keep records of what goes on at your property. Whether it’s a financial transaction, or the condition of the property…be sure to document it all. Keeping track of everything can be very helpful if a situation may arise in which there is a discrepancy over an issue between you and your tenant.
Being a landlord is not easy. Property management takes a lot of work, whether it’s actual labour and repair, or simply keeping up with legal obligations and other matters regarding your property. If you’re looking to get into property investment, we recommend working with our property managers in Toronto at Bridgeway Property Management.