I need advice about renting out my house.

[burnin_vernon]

I'm going to try living somewhere else but I don't want to sell because I really like the home and I may come back.

I don't know the first thing about the logistics here. What do I put on a rental application? What should I (or can I) ask the prospective tenants?

I want a one year lease in place. Do I have to get a notary to write up a lease or is there some kind of standard template? How specific should I make it?

I wasn't really ready for the dozen hits off craigslist in 8 hours. I thought I would get some time to prepare before I got this interest.

I don't think I'm going to use a real estate service. I think I can handle this on my own without the 10% fee.

[ricosuave]

^ IMHO it is worth it to let the rental service handle all the details.

[photon]

Yeah, being a good landlord isn't easy at the best of times and the risk can be substantial, having someone experienced to ensure you don't have a hole riddled contract and terrible tenants that will trash the place is worth something.

If you do do it on your own, make sure and read the landlord tenant act and the websites service Alberta provides to make sure you know what your rights and responsibilities are.

There are forms available from various associations (again start with Service Alberta to see what's out there) but a lawyer should look over any form to ensure it complies with the act and doesn't expose you.

ETA: And if you do go with a management company, don't use Hope Street, their head guy registered on this site pretending to be a client to promote themselves and bad-mount a competitor.

[4X4]

You can get an info package including usable leases and applications from the Calgary Apartment Association for something like $40.

Ask as many questions as you want. Find a tenant that you're ok with. Follow your gut. For the love of God, DON'T fall for any hard luck stories. Strictly business.

Job? Check.
Sufficient income? Check.
Prospective tenant has a full set of teeth and no meth scabs? Check.

Seriously, you're going to get a parade of losers through your house before you find a legitimate tenant that wants to - and can afford - to rent your house. Don't stop interviewing until you find that person. Slacking off now means big (huge) headaches down the road.

A loser will always be a loser. A loser might make his way through AADAC, but the second he falls off the wagon, you'll be the first person screwed.

Single moms with sob stories about their a-hole exes can also hit the bricks. If YOU can't afford to pay the rent, you're not living here. The last thing I'm going to get involved in is domestic BS over child support and whatnot.

And then there's kids. The twentysomethings that are "not into partying". Bullsh*t. They all are. Hell, I'm 32 and I still am. They party, they piss off the neighbours, and you get the phone call.

Lastly, there's the ethnic people. Ooh... Did 4x4 just get racist? No, not really. It's their goddamn food smells that NEVER leave the house. Think about that. I'm not kidding.

[4X4]

Originally Posted by 4X4

Lastly, there's the ethnic people. Ooh... Did 4x4 just get racist? No, not really. It's their goddamn food smells that NEVER leave the house. Think about that. I'm not kidding.

I'm sure you thought I meant curry, but curry isn't that bad. It's fish oil that will never leave the house until you remove all the carpets and repaint.

[Travis Munroe]

I think it depends on what you are renting out. A 1/2 bedroom condo can easily be done by yourself without extra expenses of a management company.
A larger home you will want a professional company no doubt.
Obviously the area / prospective people you will be renting to is a huge factor.

What are you looking at getting into now?

[photon]

Just keep in mind that you can't ask ethnicity nor deny a tenant on the basis of ethnicity, that can land you in a heap of trouble.

If I deny a tenant I never tell them why, I just say "we decided to go with a different application sorry".

Most of the time it's not that bad, but there are professional tenants out there who know the system and know how to work it, and getting the wrong tenant in can take YEARS to get them out.

And by the same token there's so many crap landlords out there, please don't become another one. Do your homework, make sure you know the laws, know where your supposed to put the security deposit, know when the tenant can and should withold rent, all that stuff.

[4X4]

Originally Posted by photon

Just keep in mind that you can't ask ethnicity nor deny a tenant on the basis of ethnicity, that can land you in a heap of trouble.

My rule of thumb is this: if you stink when you come to look at the house, I will find a reason not to rent it to you. I don't care what colour you are.

Originally Posted by photon

If I deny a tenant I never tell them why, I just say "we decided to go with a different application sorry".

The worst is having to tell single moms that you aren't renting to them and then they start crying. Sorry, lady. You put $0 in the income column. What am I supposed to do here?

Originally Posted by photon

Most of the time it's not that bad, but there are professional tenants out there who know the system and know how to work it, and getting the wrong tenant in can take YEARS to get them out.

This is so frustratingly true, that I refuse to manage properties anymore. There are people out there that can sweet talk their way into your property, and then go Jekyll and Hyde and become the worst tenant ever.
I have stories. Many of them. And pictures! Oh Vernon, maybe I should post a couple of pictures.

Originally Posted by photon

And by the same token there's so many crap landlords out there, please don't become another one. Do your homework, make sure you know the laws, know where your supposed to put the security deposit, know when the tenant can and should withold rent, all that stuff.

Yeah, don't be a d-bag. Be happy with post dated cheques and minimal phone calls. Don't drive by and tell them to mow the lawn because it has reached 2". Live and let live, but make sure your investment is being taken care of appropriately.

[Travis Munroe]

This is my first official laugh out loud of the day...

4x4
"The worst is having to tell single moms that you aren't renting to them and then they start crying. Sorry, lady. You put $0 in the income column. What am I supposed to do here?"

[burnin_vernon]

Originally Posted by Realtor 1

I think it depends on what you are renting out. A 1/2 bedroom condo can easily be done by yourself without extra expenses of a management company.
A larger home you will want a professional company no doubt.
Obviously the area / prospective people you will be renting to is a huge factor.

What are you looking at getting into now?

This is the ad. I'm looking to move into Vancouver. I'll probably rent there first to see if I like it then maybe buy.

[VladtheImpaler]

Don't take any crap. The "no smoking" and "no pets" rules are never flexible. Try to find the snowman of all renters - the middle-aged gay man.

[puckluck]

If you use Kijiji make sure you don't sign papers for people looking for extra welfare money. A lot of natives (not being racist, just a fact) want to waste your time and pretend they are interested when they really aren't, and just want you to sign papers.

[Temporary_User]

Just to confirm what 4x4 said, I'm 26 and would present myself very well to a potential landlord. If I was looking to rent out a place of mine, I wouldn't rent to myself. I wouldn't wreck a place, but I do care for my own places much better than I do rentals.

Mainly little things, like shoes inside at times.
I wouldn't have a house party at my home (owned or rental), but you can betcha I would have many large gatherings.

I don't smoke (anything), but when guests come over and wish to, I don't really care. Just take cigarettes outside. If it is really cold and I'm feeling nice I let my guests just stand by the balcony door.
With pot I don't care where it is smoked just as long as a window is open.

[Drury18]

I see in your ad you are allowing pets. I would strongly suggest either taking an additional non-refundable deposit (as is common in any rental I've had) or working an amount into the deposit you take that is strictly for the animal. It's more common then not that you will have some animal damage to the house which you will need to fix when that tenant leaves.

[Prairiefire]

Originally Posted by Realtor 1

This is my first official laugh out loud of the day...

4x4
"The worst is having to tell single moms that you aren't renting to them and then they start crying. Sorry, lady. You put $0 in the income column. What am I supposed to do here?"

[Wormius]

Originally Posted by 4X4

I'm sure you thought I meant curry, but curry isn't that bad. It's fish oil that will never leave the house until you remove all the carpets and repaint.

It's not just that. If you can't convince them to use a hood fan, you'll be doing a kitchen make-over after.

[ricosuave]

^ and they wont

[ken0042]

Originally Posted by Drury18

I see in your ad you are allowing pets. I would strongly suggest either taking an additional non-refundable deposit (as is common in any rental I've had) or working an amount into the deposit you take that is strictly for the animal. It's more common then not that you will have some animal damage to the house which you will need to fix when that tenant leaves.

Or leave it as either "sorry- no pets" or leave it blank. Let the renter ask you, find out what they have, and decide from there.

Just because you may be a reponsible pet owner doesn't mean your renter will be. Add to that the fact that many renters do not care about the property- and you are asking for a $5000 repair bill.

[fundmark19]

Old bump

So I had a showing today and went really well couple and 2 kids. Gave me damage deposit and first month rent cheque. So I go home to start screening and I find a Kijiji add looking to rent out the bedrooms in my house. My question is what protection do I have against subletting. Say I say no subletting they sign off and I find out they are and they don't pay me my months rent. Can I write a clause into contract saying they lose their damage deposit and can evict the subletters as they are trespassing in my house? Or do you have to go through the painful court filing before you can evict?

[Yakbutter]

I only have a minimal understanding of tort law but I don't think there is anything you can do to stop a person from subletting their lease. Once they sign a lease they technically the owners of the property for the duration of the lease as long as their are honoring the contract(paying the rent). But yeah If you are not getting your rent payments you should be able to evict the lessees - and by extension the sublet lessees.