Welcome to ROMS BC's blog. Here, you can read about issues, stories, updates and events for BC's residential rental industry.
Showing posts with label Agreement. Show all posts
Showing posts with label Agreement. Show all posts

Monday, July 30, 2012

Mixing Words

The Residential Tenancy Act is full of terms that have definitions specific to our industry. Because the RTA has its own vocabulary, it can be difficult to follow the right processes if you are not aware of the correct definition. Below is a list of six of the most commonly used and misused terms.

Assignment: A tenant with a fixed term tenancy agreement leaves permanently before the end of the term and transfers the remainder of the tenancy agreement to another person, who then becomes the tenant.

Sublet: A tenant with a fixed term tenancy agreement leaves for a period of time, returning before the end of the term and someone else lives in the rental unit while s/he is away.

Fixed Term Tenancy Agreement: A tenancy agreement that both parties agree is for a defined period of time (often twelve months). It may terminate at the end of the term or may be renewable.

Lease: A fixed term tenancy agreement. The word “lease” doesn’t appear anywhere in the Residential Tenancy Act!    Its legal meaning is a commercial tenancy agreement, however our industry commonly refers to a fixed term residential tenancy agreement as a lease.

Occupant: A person living in a rental unit who has not signed the tenancy agreement as a tenant. An occupant includes a person to whom the unit has been subletted (a “subletee”).

Tenant: A person who has signed a tenancy agreement as a tenant; tenants are legally responsible for the tenancy. 

-- Al Kemp and Hunter Boucher

Friday, July 6, 2012

Landscaping Smaller Properties Attracts Tenants

Reprinted and adapted with kind permission from LPMAnews, news magazine of the London Property Management Association.

Curb appeal isn’t limited to multi-residential complexes. The same principles can be applied to smaller complexes and houses.

 
Ann Pavlic, who owns three rental houses in Old North London, pays extra attention to her landscaping in spring and fall to ensure her properties are in top shape when students are shopping for accommodations in mid- to late-summer. The grass is kept short and bushes are neatly trimmed. Chipped paint, tired porches and windows are also repaired during the summer.

 
“I do it for the business component and curb appeal, but I also do it for my own sense of pride and satisfaction,” she says. “I live in the neighbourhood and I want my properties to mirror the neighbourhood’s level of living. I’ m conscious that there are residents mingling with the rentals and I want to bring that quality up.”

 
When Pavlic bought her houses 10 years ago, she landscaped in a similar way to other homeowners. She planted ground covers that turn colour from spring to fall, as well as ivies that change from green to burgundy.

 
“It looks wonderful. It frames the house beautifully and it kind of puts it in an Old English kind of setting,” she says.
Pavlic advises small landlords to choose low-maintenance plants that require less care. That practice is particularly important in high-traffic areas, such as along walkways.

 
“Choosing carefully, yet attractively is the key. You want to have enough to be appealing, but not too much to have high maintenance and costs,” she adds.

Tuesday, March 6, 2012

Which Agreement is the Best?

Why don’t I just use the residential tenancy agreement provided by the “government” (the Residential Tenancy Branch [RTB])?
The RTB’s tenancy agreement is, of course, an acceptable form to use for tenancies in British Columbia. Unfortunately, it is very basic and does not achieve much in the way of protecting the landlord’s interest.
Why would I use the residential tenancy agreement provided by the “landlord association” (the Rental Owners and Managers Society of BC [ROMS BC]) over the RTB’s version?
ROMS BC has been in existence – with five different names – since 1970. In this time, we have gained experience from thousands of members and hundreds of thousands of different situations. Our collective knowledge has allowed us to successfully create our own comprehensive residential tenancy agreement – approved for use by the BC government. Each clause that our agreement contains has been appropriately vetted to ensure enforceability in all levels of the judicial process. To compare the two agreements: RTB’s version has a total of 16 clauses, while the ROMS BC agreement has 43.
If you make your own agreement, why can’t I?
Theoretically, you could make your own agreement however most “homemade” agreements are found to be invalid. What most people don’t know is that there are many, many rules in the law about how you make your agreement – everything from unconscionable material terms to the size of the font, and everything in between. Creating an agreement that is fully enforceable under the Residential Tenancy Act is a time consuming and difficult task – which we have already done for you!
But your agreement does not have some things I want covered in my agreement…
When we created our tenancy agreement we worked very hard to make it apply to every tenancy (whether it be an apartment, basement suite or single-family home), but we recognize that there are always exceptions to the norm. Your tenancy agreement may need some extra clauses that relate very specifically to your rental unit or property, and we are here to help you with those additional terms. Because adding additional terms is just as dangerous as writing your own agreement, we recommend that you write up what you want to see added, and we will work with you to make it fit.

-- Hunter Boucher and Carly Ludwar