1451 replies to this topic

[Rob Randall]

We used to offer free internet, phone and cable because we had the Shaw suites deal but we stopped it because NOBODY WANTED A FREE LANDLINE OR CABLE TV.

[Mike K.]

I think for a lot of landlords they have to declare as they need the extra income to requalify for a mortgage. I think it would be crazy to keep it a secret for a number of reasons.

 

The banks tend to look at the potential of income from a suite and not actual income from a suite.

 

If you need a suite to re-qualify, they will tell you to pursue renting the suite but they don't expect you to be already doing it. It's the same when buying a house, they just want to know the potential for a rental is there should you need it but they won't demand you pursue it unless you both agree it's the only way to move forward.

[gstc84]

 

Tip #1: collect all 12 rent cheques at the start of the term, plus the deposit cheque. Have a defined bounced cheque fee (usually $50).

 

Do people still pay rent by cheque? Every landlord I've had in the last decade has preferred rent by e-transfer on the first of the month. Way easier for everybody involved.

 

I've definitely lucked out in Victoria - I always rent from people rather than from a property management company, and have never had a landlord raise the rent on me, so after living in a place for a couple of years I'm generally paying a couple hundred less than my neighbours. Internet and cable have never been included, nor would I expect them to be. Hydro sometimes is (though I never turn the heat on - prefer to climb under a pile of blankets). Tenant insurance has always been mandatory.

[Redd42]

When I have lived in suites in houses, the utilities (heat, electricity, hot water) have always been included in the rent. 

 

I would never agree to pay a set portion of the landlords electricity. They likely have more people in their household. How do I know that they are not wasteful, drying one sweater at a time?

[MarkoJ]

Do people still pay rent by cheque? Every landlord I've had in the last decade has preferred rent by e-transfer on the first of the month. Way easier for everybody involved.

 

Three of my four current tenants by me by e-transfer, the fourth one by cheque.

 

As a landlord I much prefer receiving 12 post-dated cheques. With e-transfer people sometimes forgot and you have to remind them which I didn't like but it seems like everyone is going the e-transfer route.

[MarkoJ]

The suite has its own hydro connection and I get a seperate bill for it ... just not sure how we go about switching it over so the tenant is responsible. Perhaps I will give Hydro a call.

 

Should take a few minutes to transfer to tenant. That is kind of the point of having a separate meter so that the tenant pays for their own.

[MarkoJ]

My condos nothing is included but if I rent the suite at my personal house I included TV and internet. I wired my media panel to feed the suite as well.

[tjv]

The banks tend to look at the potential of income from a suite and not actual income from a suite.

 

If you need a suite to re-qualify, they will tell you to pursue renting the suite but they don't expect you to be already doing it. It's the same when buying a house, they just want to know the potential for a rental is there should you need it but they won't demand you pursue it unless you both agree it's the only way to move forward.

That doesn't make a lot of sense in my opinion, that's like saying to my banker I am looking for another job and have the potential to make another 20k more, so the income listed on my application is my potential

 

Buying a house is a different story, kind of hard to show rental income history with nothing there.  I would hope the bank demands on the landlords insurance they declare they have a renter.  I know when I do 2nd mortgages, etc I double check the little things like that

 

My gut tells me from talking to a lot of people that the vast majority don't declare their rental income

 

Going back to my renter days, in an apartment heat and hot water was included, but when I once rented a condo nothing is included.  I think if a landlord tried to give me a bill for water, garbage, sewer, etc I'd tell him to put it where the sun doesn't shine!

 

I think a lot of people e-transfer rents now because banks charge fees to print and then cash cheques.  In my personal life its very rare I write a cheque, its much easier to pay everything online.  Even in business I try to avoid it as much as I can, but they are a part of business still

[lanforod]

Three of my four current tenants by me by e-transfer, the fourth one by cheque.

 

As a landlord I much prefer receiving 12 post-dated cheques. With e-transfer people sometimes forgot and you have to remind them which I didn't like but it seems like everyone is going the e-transfer route.

 

Actually in the process of changing my tenant from cheques to e-transfer. Tenants should just setup auto-payments, not do it manually. Then it would only not go out if there were insufficient funds.

[James Bay walker]

My days as a Landlord are coming to end and I'll be glad to see the end of that. This past two years, Landlords are now faced with new serious obstructions in safely re-renting their property:

(1) -banks (well, the Royal Bank for one, no doubt this will become common practice) not cashing tenants' cheques on request (even, with their $5 service charge), a landlord's expected to deposit their tenant's cheque in their own chequing account [as if they were a Ltd. business, I'm a person] and take their chances as to whether it's negotiable (a 10-14 day+ process to learn if this is not the case if all's working as it should). I now need to give my tenants a choice: cash rent payments, or, rent cheques post-dated mid-month prior to the rent's due. [If I ever have a question of a tenant's rent cheque not clearing, I want/need to find this out on the 1st of the month when serving Notice of Eviction is meaningful, not weeks later.)

(2) -the Province appears to have closed the door on one of the best ways of screening tenant applicants: the credit check. Not only does a credit check show a tenant's credit worthiness (credibility when faced with a financial commitment), but often also shows interesting earlier addresses that they omitted on their application (coincidentally, those same locations can reveal surprising tenant behaviour once you dig into them -- in one instance, the landlord of an unmentioned address remarked that they'd thrown furniture out their window). And, Credit Checks were most of the reason I joined LandlordBC, now it's questionable as to whether it's worth renewing my membership.

The very best time to avoid problems with tenants is BEFORE you hand them the keys, so a thorough screening is essential as I see it.

(3) -no refundable application deposit allowed to accompany rent applications (refundable if turned down, applied to first month's rent if accepted). What the heck? This means tenants go around completing applications everywhere they even see a place, at one, two, fifty or more places, and the trail of landlords left holding the bag can be a long one, when they've accepted a tenant only to find the tenant's long since taken some other property.

(4) -during the past several months, it's becoming clear landlords are (or will soon be) not allowed to peek at their applicants' published "social media" info (Facebook and the like), when looking for reasons to determine if applicants may be high risk of damage or other bad behaviour

(5) -and now, we've the cannabis / marijuanna issue; for sure, we need to add a specific clause prohibiting its growth in our properties (as well as use on, in or adjacent to our properties)

jbw

Edited by James Bay walker, 06 December 2018 - 11:20 AM.

[Mike K.]

The law prohibits landlords from checking the credit history of a tenant?

[James Bay walker]

(Office of the Information and Privacy Commissioner) It's allowed under limited circumstances where an applicant's financial information/behaviour is not usefully obvious or not readily obtainable otherwise. If an applicant appears to be financially solid, a landlord may no longer 'routinely' run a credit check. It's on the premise that when it's not "needed", a credit check is excessively intrusive. My view is: as Landlords we want to be redundant. (If nothing else, an application "form" being used must not have credit check permission as a preprinted option, is how I see it at the moment.)

jbw

Edited by James Bay walker, 06 December 2018 - 11:41 AM.

[spanky123]

(Office of the Information and Privacy Commissioner) It's allowed under limited circumstances where an applicant's financial information/behaviour is not usefully obvious or not readily obtainable otherwise. If an applicant appears to be financially solid, a landlord may no longer 'routinely' run a credit check. It's on the premise that when it's not "needed", a credit check is excessively intrusive. My view is: as Landlords we want to be redundant. (If nothing else, an application "form" being used must not have credit check permission as a preprinted option, is how I see it at the moment.)

jbw

 

That is why you use service providers who do not fall under the oversight of the OIPC :-)

[sdwright.vic]

Personally I don't care who sees my credit report as long as there is reason. My employer even pulls it for security status renewal.

But then again, i have no problem with security cameras on public streets either.

[tjv]

#1)  A landlord can demand cash only, e-transfer only, etc as long as its spelled out in the contract

 

https://www2.gov.bc....ncy/paying-rent

 

#2)  right now, they appear to only be recommendations

 

https://www.cbc.ca/n...chdog-1.4588430

 

#3)  wow, I thought damage deposits were due at time of application, apparently they don't have to be paid for 30 days after entering into the agreement.  I think if I were a landlord I would demand it at application and just play dumb.  If the tenant brings up the law, ok fine, accept the application and as soon as they are gone into the recycling bin it goes

 

https://www2.gov.bc....posits-and-fees

[sdwright.vic]

I am not payimg anyone a deposit with my application until my application is approved. I mean the landlord could just keep showing the place over and over and not approve my application because they think they found someone better. Taking applications and deposits all day long till they decide which one they want.

I am not tying up my money on something that's not a guarentee for me, you want my deposit and first months rent, show me the lease, sign it, and you'll get both.

If I have to live in the up in the air world of maybe not getting a place, then guess what, till I get an offer I will still be shopping.

[tjv]

^good luck ever buying a house then.  When you make an offer you have to include a certified cheque for the non refundable deposit

 

as for renting, back when I was a renter every application I made I had to include a cheque for the damage deposit.  If I recall I think they always phoned me back the next day confirming I was approved which was fair time for them to check my credit, references, income, etc, etc.  I was never declined for a place either.  I was later told by a friend that the damage deposit at application was a trick to ensure they didn't get welfare because welfare didn't have enough money for it.  This was back in the day when a 1 bedroom was $600 so I guess 2 people on welfare could afford it

[sdwright.vic]

Well there you have it, i have no need or interest in buying a house. I like my investment to be a little more liquid and I am only going to be in Victoria for another 10 years.

[dasmo]

Huh, I’ve never had to give a deposit on a house offer and I’ve bought three. Also with renting. If someone asked for a deposit just to apply I would instantly think it was a scam....

[sdwright.vic]

I know, right? Yet I have never rented from a mom and pop landlord, only from large established REITS that see their properties not only as a investment, but as a business.