For homeowners and landlords, the cost of ownership extends far beyond the price paid for a property. It may include maintenance, repair and renovation costs but it ALWAYS includes a variety of federal, provincial and municipal taxes. This guide will explain all the taxes that may apply to your property. If you know what you are after, jump ahead: Goods and Services Tax (GST) Provincial Sales Tax (PST) Property Transfer Tax Property Tax Vancouver ...
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As a landlord, you will need to familiarize yourself with a number of tenancy forms in order to effectively manage and operate your residential rental properties. Beginning with the Residential Tenancy Agreement form but also the Condition Inspection Report and the Dispute Resolution form, these documents will ensure you are performing your landlord duties in accordance with the laws of British Columbia. Below, we shed some light on the various ...
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Perhaps the biggest challenge for landlords is identifying which applicant will be a reliable, respectable tenant. In order to do this, some screening needs to take place during the application process. Thankfully, the liv.rent team identified this pain point and developed the Liv Score™ feature to help landlords screen and compare potential tenants in a fair and meaningful manner. What is a Liv Score™? The Liv Score™ is an intelligent rating ...
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In these exceptional times, exceptional approaches are needed to grow and sustain businesses. Thankfully the digital transformation, spurred on by the pandemic, is proving unstoppable. Undoubtedly, the digital initiatives undertaken today will have a lasting impact on the way we conduct business now and in the future. For property managers, digital lead generation is key. Below we outline 5 simple ways to generate leads that are contact-free and proven. 1. Develop ...
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[LAST UPDATED: December 28th, 2020] Coronavirus Rent Relief Support - By Province and Territory In addition to extensive federal initiatives outlined in Canada's Economic Response Plan, each Canadian province and territory has made efforts to put forward measures surrounding rent relief, rent freeze, eviction bans and more to protect Canadian renters. Below we’ve provided links to key resources to help renters better understand the different rent relief initiatives offered by each province ...
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[LAST UPDATED: December 28th, 2020] The provincial and federal governments of Canada have unveiled sweeping assistance packages to help all Canadians through this unprecedented time. We at liv.rent are here to help landlords and tenants navigate the resources newly available to them during the COVID-19 pandemic. For a quick summary of events impacting Landlords and Tenants, refer to our post: COVID-19 - Update For Landlords and Tenants. For website directories and contact information, ...
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[LAST UPDATED: October 6, 2020] In these unprecedented and uncertain times, managing any and all of your responsibilities can seem daunting. However, knowing that your friends, neighbours and fellow global citizens are sharing this experience, will hopefully add a level of comfort and encouragement. For landlords, what are your responsibilities to your tenants and your rental property during the Coronavirus (COVID-19) crisis? For tenants, how should you respond? Table of Contents Quick Snapshot: COVID-19 Updates COVID-19 FAQ Landlord Update Renter Update Tools to Go ...
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When renting out your property, it is absolutely crucial that you carefully think through a set of rules for your tenants. Many of these should be reflected in the Lease Agreement providing as much detail as possible to avoid any ambiguity. Ultimately, this will help you avoid conflicts with your tenants and, hopefully, preserve the condition of your rental property. Top 12 Considerations when setting Rental Property Rules We’ve outlined the ...
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Is Renting to Students a Good Idea? For many, the idea of renting out your home or apartment to students sounds alarm bells. It really shouldn’t. These tenants can often prove to be excellent – reliable, tidy, and, financially secured by their parents. In fact, having parents as guarantors on a lease, which is the usual case in student situations, is often far more sound than leases with other tenants. We ...
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4 Ways to Pay Rent Gone are the days when your hand would cramp writing a year's worth of rent cheques to present to your landlord. At last, we have a variety of rent payment options available to tenants. Every tenancy agreement should specify the acceptable forms of rent payment. The e-transfer option has grown in popularity thanks to the ease of use and lack of paper required. Currently, there are 4 ...
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