Landlord Faqs - Luxury Living Rental

Landlord Faqs

Answers

What are your fees?

We charge 50% of the first months rent for 1 year lease and 75% of the first months’ rent for 2 year lease terms. For Furnished placement our fees are 10-15% per month (plus taxes)

Is it better to rent my property furnished or unfurnished?

Depends on you and your comfort level as a Landlord. In most cases, unfurnished lease terms are a minimum 1 year. The tenant pays for all utilities (cable, hydro and internet etc) Furnished units on the other hand, can range anywhere from 1 month in length and more. The turn over frequency is much higher and the landlord is responsible to pay for utilities (cable, internet and hydro which is capped) Furnished pricing is heavily effected by season (June to September is high season) and (October to April is low Season) Usually the longer the term runs the lower the rent. The shorter duration rent is usually higher.

What are the services that you provide for finding a tenant?

We will assist you with full marketing. First, we will arrange professional photos and list it on our website, send it out to multiple real estate and relocation agents that we work with. We also have a large social media presence. We can help with credit check report, reference and background checks (employment and previous residence info) Once the tenant is placed, the landlord and tenant will deal with any future dealings. If you would like further property management services, let us know and we can refer you to our Property Management Division.

I’ve had a terrible experience with tenants. What if I don’t like the tenant that applies for my unit?

We want you to be comfortable with your new tenant and will work with you from the beginning. Once a tenant wants to rent your precious investment, we will have them fill out an application with full background details. Once you meet the tenant and are happy to have them in your property, ONLY then we will move forward with them.

Is there any hidden charges or fees?

No, and we only take payment once your property is rented.

Why can’t I just find a tenant myself?

In most circumstances, due to our connections and familiarity with the market, we are able to achieve high rents. We also help you with the screening process to mitigate problems with your tenant down the road.

What are your work hours?

We work during normal office hours. However showings in most cases do go past office time and on the weekends. Calls are returned within 1 business day if you missed us.

When do I need to return my tenants deposit?

According to RTA, you have 13 days after the tenant vacates to return their deposit. If you have any disputes or issues over the deposit, you’ll need to contact the tenancy office within this time to make the claim.

Why Do I need Insurance? My Strata already has coverage?

It is very important to purchase Landlord insurance to protect your property from water damage, floods from other units, rental loss etc Most strata’s charge a deductible and if your unit is at fault, fees van vary anywhere from $20,000 to $100,000.

Can I book a consultation to see how much my property is worth?

Yes, we would love to hear from you!

Landlord Faqs - Luxury Living Rental