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Understanding the Responsibilities of Renting Out Your Condo Unit

Renting out your condo property comes with many responsibilities, and without having a clear understanding of what you are committing to, it could be a costly endeavour.

The Residential Tenancies Act legally oversees rental property obligations, which helps govern the rights of both the landlord and the tenant.  When renting out a condominium unit you are also governed by the Condominium Property Act and its responsibilities.

We have compiled some of the most crucial information for landlords listing their condos for rent.

 

Understanding Maintenance Responsibilities

As the property owner or landlord, your list of responsibilities is far greater than the tenants. Not only are you legally obligated to ensure that your condo meets all the requirements, but you are also financially responsible for them as well.

You must ensure your condo meets the following standards, both at the beginning and through the duration of occupancy:

The tenant has some maintenance responsibilities, however. They must repair any damage they cause to the condo, unclog drains and toilets, replace light bulbs, and of course, keep the property clean. The tenant must also inform the landlord of any repairs required within a reasonable amount of time. 

Repair requests in writing help ensure both the tenant and the landlord understand the nature and the timeline of the repair to minimize inconvenience, expense, or further damage.

Of note, some of these responsibilities may fall under the control and management of the condominium corporation and its condominium board.  Don’t forget to review your condominium bylaws to make sure that you understand your associated condominium owner responsibilities.

 

Understanding Legal Responsibilities

The legal responsibilities of a rental property protect the health and safety of the occupants and surrounding properties. To rent out your condo, it must meet all Public Health Laws ensuring there is no risk of mold, gas leaks, or unsanitary conditions.

The condo must also comply with all zoning bylaws, local building codes, municipal property standards, and the condominium bylaws, and is not limited to the unit’s interior. The exterior and common areas are subject to the same regulations, and as a landlord, you must ensure they are clean, free of debris, and easy to access. 

These areas include:

You must also make sure that you and your tenant understand your legal obligations when it comes to your condominium bylaws.  Often, your condominium community will have rules when it comes to your rental tenant and information around disclosures etc..,

Landowners who don’t abide by their legal responsibilities could be in for a rough and very expensive experience, the least of which are maintenance costs. Lengthy and costly lawsuits can drastically impact your pocketbook and stress levels. 

 

Understanding Tenant Privacy

Your condo is an enormous investment of time and money, and one you are likely going to protect. Some landlords are so protective that they breach the privacy rights of their tenants, intentionally or not.

Of course, in some cases, a landlord must access the property immediately, such as in the case of an emergency. The rest of the time they must comply with Tenant Privacy laws.

For instance, according to the Canadian Mortgage and Housing Corporation (CMHC), landlords must not:

When access to the property is required, adequate notice must be given and agreed upon between the landlord and tenant.  

 

Renting Your Condo Made Easy

Take the hassle out of renting your condominium with a professional property management company, such as Emerald Management & Realty Ltd. 

With Emerald Management & Realty, you can leave the details of your property management, tenant care, and maintenance in their capable hands. 

INQUIRE TODAY online or by calling 403-237-8600.

 

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