What Vancouver Investors Should Know Before They Rent Their Condo

May 30th, 2008 Categories: Real Estate News, Vancouver Real Estate

Understanding the Landlord Tenancy Act before you rent your Vancouver condo

Did you know? One third of all home owners in British Columbia rent their home.

Did you know? Secondary suites, including illegal suites, are covered by the same residential tenancy law as apartments in large buildings.

“Landlord Guide: Information for Landlords in BC” provides valuable information on the many legal and financial obligations of landlords, who are considered business owners and are bound by both provincial and municipal laws, bylaws and regulations. These include the BC Residential Tenancy Act, the Fire Code and the Building Code, as well as municipal bylaws covering secondary suites, smoke detectors, safety and even cleanliness.

Who helps landlords?

BC Residential Tenancy Branch BC government office helps with problems and will give information about the law to landlords and tenants. they’ll explain the law to you, call your tenant on your behalf and hold dispute resolution hearings.

Rental Owners and Managers Society of BC have 1600 members who collectively manage more than 35,000 BC residential rental units. Services include legal and operating advise, credit checks on tenancy applicants, educational seminars, forms, news and government lobbying.

BC Apartment Owners and Managers Association have 1200 members who collectively own/manage 100,000 BC residential rental units. Members receive assistance, information, tenancy forms, education and government lobbying.

What’s the worse experience you’ve had as a landlord or tenant? Do you manage the suite yourself or hire a property manager? What is your opinion about the Landlord Tenancy Act? How would you change it? Have you ever had used the Residential Tenancy Branch and if so, what was your experience?

Did you know you can search for condos on this site? Fill out my contact form if you are wishing to buy or sell a Vancouver condo.

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