Rental Property Tips: What to look for before renting? - Nicola Domenic Vescio

Rental Property Tips: What to look for before renting?

As a property owner and manager you see things differently. One comes by the understanding of property management the hard way, i.e. the examples are countless. The experiences shape you. If you think it can happen it will, so protect yourself at all times. With that said, for those who are renting I ask them to open their eyes to anything and everything:

LEASE

If you have a lease, make sure you read it thoroughly and understand what you are agreeing to. You should also carry out your own checks first to make sure you’re agreeing to the same terms as the landlord. You should also check that the landlord is acting in good faith.  If you have a sound lease prepared and presented to your landlord, the person who holds the power in the negotiation is you. It doesn’t matter if your landlord is the president of the company, he or she is still not going to have the upper hand if you have a good, well-written lease.   There’s no reason to rush into a lease. You want to know what the terms of the lease are, what the costs of the lease are and what the price of the lease is before you sign it. Do your research and make sure you’re not wasting money and putting yourself in danger.

SAFETY

When you’re looking to rent a place, it’s important to know what to look for. When it comes to rent, the most important thing is to make sure the place is safe.  The unit needs to be retrofitted for fire, and that means the product has to be approved and should be well within Canadian regulations. Make sure your windows open in case of an emergency or to let in cool air during the summertime.

MOLD AND MOISTURE

 Check for mold around the windows and washroom. As you know mold is one of the most dangerous allergens. It can be deadly and cause health issues. 

 You should check for moisture on the ceilings to make sure that the roof is in good condition and there are no leaks. If it is leaking, you should have it repaired immediately. Also, if you spot any issues with the roof, like tears or holes, then you should have them repaired as well.

UTILITIES

 If you are paying for utilities, make sure they are sealed properly, especially if you have a leaky faucet. A leaky faucet can lead to thousands of dollars of damage so it’s important to make sure that you are paying attention to the seals on your utilities.

A great way to make sure that your house is being kept clean and healthy is to make sure you educate yourself on how your furnace works. You want to make sure you’re doing the right thing with your furnace, and that you’re letting it run at the right temperature.


GARBAGE COLLECTION

 When you’re renting a house, you’re responsible for the garbage disposal and cleaning the place up. When you’re renting a room in a building, the landlord is responsible for the garbage disposal and cleaning the place up. Garbage collection in a house is more complicated than it is in a room in a building.

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