Approving the Application of an Ideal Tenant Is Exciting but How Do You Balance Expectations

Author
YNM Real Estate
Date
20 December 2021
Category
News

Every landlord wants the ideal tenant. Likewise, every tenant wants the ideal landlord. It is very much within the realm of possibility. Once a landlord finds a suitable tenant and vice versa, of course after the property is liked and the rent is agreed upon, there comes the legal process of beginning a tenancy. There should be no room for misunderstanding and everything must be lucid and in writing so neither the landlord nor the tenant can turn around or shy away from their respective obligations.

This process is not very simple and the complications often lead either or both parties to just skip the details. It is necessary to discuss the fine print so both have expectations on the same page. Here are some important topics to cover during your acceptance of the tenant

  • At the outset, as the lease agreement is prepared or modified using an old draft, the landlord’s rights and obligations should be made amply clear to the tenant. These are laid out in the Residential Tenancies Act. Tenants must be given a copy of home state renting guide.
  • It is the responsibility of the landlord to get the tenant accustomed with the laws of the land, what their duties are and what is expected of the tenant. Hence, landlords should provide a written lease agreement mentioning the bond amount, the advance rent amount if any, the entry costs and a detail of the entire property with all its preinstalled or existing fixtures, appliances and amenities, as many or few as they may be.
  • Landlords must ensure the property is in a condition for the tenant to move in, the premises must be clean and every necessary fixture must be in working condition, including smoke alarms and necessary lights. Landlords must address all questions raised by the tenants at this stage and give them adequate time to review the agreement. There should be room for discussion if there is anything that creates a hassle for either party, however not compromising any law in the process.
  • Landlords may have certain expectations which tenants must live up to. For instance, depending on the nature of the lease agreement, it may be the duty of the tenants to keep the property clean or to attend to minor repairs. Such clauses must be mutually agreed upon at the time of negotiation so that there are no hiccups later. Likewise, whatever restrictions or conditions the landlords may want to put forth should be communicated at the outset. Else, the tenants may not review the terms of the lease agreement favourably.

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