Being a landlord brings many benefits but it also brings on many challenges and responsibilities. Property management is a demanding field to be involved in. In order to work effectively in the industry, it's important to understand your duties as a landlord and that your tenant is aware of your obligations in order to establish a good relationship.
According to the Landlord and Tenant Board, a landlord’s primary duty is to ensure their rented space is habitable. This means that the property must be safe at all times. Generally speaking, a property is considered adequate if it is free from the following:
Broken or non-existent windows
Dysfunctional gas systems
Faulty electrical outlets
Any signs of mould or leaks
Severe uncleanliness and mess.
It is important to recognize that the consequences of providing an uninhabitable living place are severe, and may result in a lawsuit brought forth by your tenant. In order to avoid these problems, ensure you meet the following standards and responsibilities:
Repairs & Fixes
Landlords are responsible for taking care of all repairs needed on the property, they can fix it themselves or hire someone else to solve the problem. From small repairs like a leaky faucet to large ones like a cracked roof, it is always the responsibility of the landlord to ensure their tenant receives the required attention for any repairs as soon as possible. The only repairs tenants are responsible for is damages that are caused directly by their actions.
Keeping on top of property maintenance is always good to keep your tenants happy, but it's also great for the value of the property and investment. For this reason, landlords should always ensure that their property is well maintained. This means that common areas should be clean, landscaping should be well kept, walkway steps and driveways are in good condition, etc.
If the property is large and there are multiple tenants (like an apartment or condo complex), it's generally good practice to have staff on site to see to any unforeseen maintenance needs as they arise.
Ultimately, good property maintenance is the key to success in property management.
Respecting Privacy Laws
While landlords possess ownership over the property, they are still expected to follow and respect their tenants’ privacy. Landlords are required to give their tenant at least 24 hours written notice before entering the home. When entering, the landlord should have a reason for doing so. You have the right to ensure your property is being respected by the tenant, but mutual respect must be given for their belongs and privacy as well. Even when a tenant is renting a property, they still feel a sense of home in it.
At Central Erin Property Management, we understand the full responsibilities and required skills of landlords in Ontario. Contact us if you are interested in learning more about the duties of landlords or would like to see an example of successful property management in the Greater Toronto Area. Call 1-(866) 842-1766 for a free consultation today!