Tag: Renting

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Apartment Rental Home Rentals Houses for rent

What Are the Best Ways to Deal With a Holdover Tenant?

One of the most challenging parts of being a landlord can be dealing with renters. How? Well, let’s say you are a landlord in Kelowna or nearby areas and are looking for prospective renters for your house rentals in Kelowna. Before choosing a tenant, you will have to verify their proof of income, check their credit scores, and run a criminal background check to make sure they are the best fit. When you rent your apartment to a good tenant, you can be confident that he or she will take care of your property, pay the rent on time, and follow the terms of the lease. A bad tenant, on the other hand, will never make on-time rental payments, lead to significant damage to your property, and may not even report maintenance issues until they are unbearable. However, nothing can be more distressing to landlords than having to deal with renters who continue to stay in the apartment without their consent.

When a tenant refuses to leave the apartment even after the expiration date of the lease, he or shebecomes a “holdover tenant”. In a situation like this, the landlord should take the case to the authorities and follow the proper legal procedure to evict the renter from your property. In this blog, we will discuss some of the best ways to deal with a holdover tenant and reclaim your property.

Top 5 Ways to Deal With a Holdover Tenant

Top Ways to Deal With a Holdover Tenant

There are various ways to deal with holdover tenants, but regardless of which way you choose, you need to make sure it doesn’t involve any financial risk.

  • Give the Tenant a Formal Notice

Beforestarting the eviction process, you need to send a formal notice to the holdover tenant. Itwill inform the tenant that he or she must leave the property by a specific date or you will initiate eviction proceedings.

Some of thepoints that must be included in the notice are:

  • A justifiable reason for the eviction
  • Address of the rental property
  • Date when the tenant must move out

If you are looking for good tenants for your house rentals in Kelowna, you can get in touch with Homefinders. We provide our clients with a pre-screened database containing all the important details about each tenant.

  • Terminate the Lease Agreement

Whena tenant significantly violates the terms of the lease agreement,a landlord can officially terminate the lease. And since the holdover tenant has violated the rules by continuing to live in the apartment even after the lease has expired, you have the right to send a notice stating that the tenancy has been terminated. The termination notice will clearly state that the tenancy is over and the renter must vacate the apartment or the landlord will file a lawsuit.

  • Evict the Tenant

If you don’t want the handover tenant to continue to stay at your apartment, you can choose to formally evict him or her. Having said that, you can’t threaten the tenant in any way or forcibly remove them. You need tofollowthe right ways to serve an eviction notice properly andstick to the legal eviction process.However, in some places, you will need to provide proof of a lapsed lease to prove that the tenant is staying in your rental apartment without your permission.

We understand that with so many tenants looking for homes for rent in Kelowna or elsewhere, finding the right ones is not always possible. But, should you want to steer clear of bad tenants, make sure to prepare a lease agreement before letting out your apartment.

  • Opt fora Month-to-month Lease

If you don’t want to keep your rental apartment vacant, you can opt for the month-on-month lease option. In this case, the holdover tenants can continue to live in the apartment for an agreed-upon period.

  • Sue for Damages

Someholdover tenants not only refuse to vacate the apartment but also leave the property damaged. In such cases, youhavethe legal right to sue your tenant. Moreover, you can also withhold the security deposit to cover damages or take legal action to compensate for the damage.

The Bottom Line:

There you go. By following these steps, you can easily deal with holdover tenants and have them removed from your rental property. Should you be looking for a company that offers the best rental relocation services, reach out to us. At Homefinders, we offer a pre-screened tenant database containing a list of tenants looking for house rentals in Kelowna. To know more about our services, call @ 250-899-8133.

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Apartment Rental Home Rentals Houses for rent

Why Is Renting an Apartment Better Than Buying One?

Buying a home is a significant investment for most of us but that doesn’t mean it is for everyone. Due to the sky-rocketing property prices, a lot of people are opting for home rentals rather than buying an apartment. After all, renting an apartment involves just one recurring monthly cost: the rent. Homeownership, on the other hand, includes various expenses such as financing and registration costs, property tax, maintenance cost, and more. However, deciding whether to rent or buy an apartment is indeed a big decision as it not only affects your personal goals and lifestyle but most importantly, your financial health. They both need you to have a regular income so that you can afford the payments and associated costs.

Both renting and buying have their own advantages, but renting does appear to retain an edge.Although you need to pay a security deposit equal to one month’s rent, it is considerably less than a down payment. Moreover, renters have greater flexibility,lower utility bills, and access to amenities, such as parking lots, gyms, and pools that might otherwise be extremely expensive. In this blog, we will discuss some of the top reasons why renting an apartment could be a better option than buying one.

Reasons Why Renting an Apartment Is Better Than Buying One.

Top 5 Reasons Why Renting an Apartment Is Better Than Buying One

While buying an apartment involves some serious savings, renting can help you maintain your lifestyle and flexibility. Here are the top reasons why renting could be the smartest move.

  • No Down Payment Is Needed

The down payment typically costs around 20% of the cost of the home, excluding the settlement fees. So, let’s say you are planning to buy a house in Kelowna or nearby areas and the cost of the house is around $200,000. This means that you will need to have over $50,000 in cash. Renters, too, need to save up some money for a security deposit but that is nothing when compared to the amount of cash you have to save for the down payment. Also, the security deposit will be returned to you when you move out, provided you have not damaged the rental property. Hence, opting for homes for rent in Kelowna might be an ideal option for you.

  • Don’t Need to Pay Property Tax

Property taxes can be a significant financial burden to homeowners and are determined based on the amount of land on which it’s built and the estimated property value of the house. But when you are renting an apartment, apart from paying the rent and utility bills, you don’t need to worry about any other property-related costs.

  • No Maintenance Costs

One of the top benefits of renting an apartment is that tenants don’t need to pay any repair bills or maintenance costs. If something needs fixing, such as a plumbing issue, you just have to call the landlord and ask him/her to fix it.

Should you be located in Kelowna or nearby areas and looking for places for rent, reach out to Homefinders. We can provide you with the largest selection of rental properties that fit your needs and preferences.

  • Access to Amenities

When you rent an apartment, you can have access to numerous amenities that can otherwise be a huge expense. Some of these facilities include swimming pools, business centers, community rooms, parking lots, and fitness centers, among others.

The Bottom Line

Apart from these, there are lots of other reasons why renting an apartment is better than buying one. Renting an apartment provides you with the flexibility to move out whenever you want without any penalty. Moreover, it doesn’t need any significant financial investments. So, if you need assistance in finding affordable home rentals, you can get in touch with our team .At Homefinders, we go through hundreds of websites on a daily basis to provide our clients with the best rental properties to choose from.

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Apartment Rental Home Rentals

Top Questions to Ask a Landlord Before Renting an Apartment

Renting provides you with a home without any of the burdens of homeownership. You can change apartments whenever you want and there’s no burden of accountability either. However, whether you are relocating for work, trying out a new city, or simply downsizing, apartment hunting can be a strenuous task. After all, there are so many things you need to consider while looking for ideal home rentals. Some of the most important ones include the budget, location, neighborhood, and amenities, among other things.

However, if you want to make sure that the potential property is a perfect place to call home, ask the landlords a few important questions before signing the lease. It will give you a better insight into the area, the property, and, most importantly, the people you will be dealing with during your tenancy. In this blog, we will discuss some of the top questions you’ll need to ask the landlord during your house-hunting process.

Key Questions to Ask a Landlord Before Renting an Apartment

Questions You Need to Ask a Landlord Before Renting an Apartment

Should you want to avoid making the mistake of choosing the wrong place to rent, don’t forget to ask the landlords some key questions before you sign on the dotted line. Some of them have been mentioned below.

  • How much is the security deposit? Is it refundable?

Tenants need to pay a deposit amount to their landlords before they move into a rented property. A landlord usually charges between one to six months of rent as a deposit, depending on the location of the property, amenities in the house, and furnishings. So, before renting an apartment, make sure the security deposit is within your budget and is refundable. Also, check the conditions for your security deposit’s return and ask for a receipt for any fees paid.

If you are moving to Kelowna or nearby areas and are looking for house rentals in Kelowna, contactHomefinders. We offer the best home rentals at competitive rates.

  • Can I sublet my apartment?

Some landlords prohibit subleases. So, if you have any plans to sublet your apartment, don’t forget to ask this question before signing the lease. Remember, subletting your apartment without obtaining the consent of the landlord provides a ground for eviction of the tenant.

  • What’s included in the rent?

Many tenants choose rental properties based on the factors like their budget, location, and neighborhood. And when they hear that a property is available that perfectly meets their preferences, they instantly decide to take it up. But, that’s completely wrong! Before renting a property, you need to know what’s included in the rent. For instance, if you live in Kelowna or nearby areas and are looking for Kelowna rental properties, ask the landlord about the amenities that are included in the rent. Some landlords ask the tenants to pay extra for utilities such as water, electricity, air conditioning, and more. This way you’ll be able to avoid unexpected expenses.

  • Does the property have parking?

Questions like “Does the property have a private driveway?”, “Do I have to pay for parking?” can help you decide whether the property is ideal for you. So, ask your landlord if you will need a resident’s parking permit or if the property comes with a parking space.

  • How often are the locks changed?

Asking about an apartment’s locks may not be the first question that comes to your mind, but it shouldn’t be overlooked. Why? Well, that’s because if the locks are not changed often, there is a chance that old tenants might have the access to your rental. So, request your landlord to replace the locks before you live in. This way, you will have the peace of mind that nobody else has the access to your house.

The Bottom Line:

Apart from these, there are many other questions that you can ask the landlord during your house-hunting process. You can ask them if there’s a penalty for breaking any clause, the payment methods for the rent, pet policy, and more. Should you be looking for a company that offers the best rental relocation services and can help you find the best home rentals at affordable rates, get in touch with us. At Homefinders, we offer the largest selection of rental properties that fit your particular needs and preferences. To know more about our services, call 250-899-8133.

Categories
Apartment Rental Home Rentals

Most Common Mistakes to Avoid When Renting an Apartment

For many, moving out and renting an apartment for the first time is one of the most exciting moments. Renting not only gives you home without any of the burdens of homeownership but is also an ideal option for those wanting less responsibility and extra flexibility. Apart from that, there are many other advantages of renting a house or apartment. For instance, renters don’t have to worry about maintenance and repairs as the responsibility generally falls on the landlord. So, if you, too, are planning to move and are looking for rental apartments in Kelowna or nearby areas, get in touch with the team at Homefinders. The professionals can help you find the best Kelowna house rentals that perfectly meet your preferences and needs.

Having said that, renting a home or apartment is also a major decision that needs careful consideration. Since the process is new and unfamiliar, you might overlook critical details or end up making several mistakes. In this blog, we will take a look at the top five mistakes first-time renters make while renting an apartment.

Common Mistakes to Avoid when Renting an Apartment.

Top 4 Mistakes to Avoid When Renting an Apartment

By knowing about the common mistakes that most renters make while renting an apartment, you can avoid them as well as save time and money. Some of the most common ones have been listed below.

  • Skimming the Lease Without Reading It Carefully

This is something we all have done at least once in our lives — signed an agreement without reading the “terms and conditions” carefully. But the lease isn’t the kind of agreement you would skim and sign without careful review. Why? Well, that’s because a rental agreement should cover everything. Whether it is a clause related to an increase in rent or rules regarding pets, reading the agreement thoroughly is essential if you don’t want to regret it later.

  • Ignoring the Surroundings

Did you know, numerous tenants choose their apartments based on descriptions and a couple of photographs? But that’s not the right way to select apartment rentals you know. No matter how ideal your prospective abode might appear, you should never overlook the neighborhood you are moving into. After all, you want to make sure that you are living in a calm and secure environment, right?

  • Skipping Renter’s Insurance

Many tenants think that the insurance policy provided by the landlord would also cover their personal property. Well, that’s completely wrong! The landlord’s insurance doesn’t cover your personal property from theft, fire, or water damage. So, once you start looking for places for rent, make sure you have the renter’s insurance. It provides coverage for personal items and offers liability protection.

  • Not Inspecting the Condition of the Apartment

It’s easy to get excited about your new home, but you have to keep your eyes open as well. Remember, before moving into your rental, inspecting the apartment or property thoroughly is very important. It will not only provide you with a safer, more pleasant place to live but will also help minimize or avert disputes with your landlord in the future about the condition of the property.

The Bottom Line: Renting an apartment is a very important decision that involves a lot of deliberation. And apart from these, there are many other mistakes that most tenants make while renting a property. For instance, not asking questions regarding specific rules and instructions, overlooking the budget, and paying too much rent are some of the most common mistakes you need to avoid. Now that you know about these pitfalls, you just have to get in touch with a company that offers the best rental relocation services and can help you find ideal home rentals. At Home Finders, we provide our clients with the biggest selection of Kelowna house rentals. To know more about our services, call 250-899-8133.