Real Estate Nightmare: When Agents go bad or deals go wrong. We hear lots of horror stories from buyers and sellers of real estate. We also have begun to hear landlord and tenant stories in the news. Some of those scamming the system and paying no rent.
A recent story came my way that reinforces why it is good to work with an agent when renting or leasing your property.
One landlord spoke about not wanting their tenant to smoke in their unit. They worried about having trouble selling a unit that had been occupied for an extended period by smoking tenants.
In Toronto, there has begun a movement to make condo and rental buildings non-smoking via rules and regulations. These are related to condo boards and their common rules and regulations for all to follow. These have yet to meet a challenge in the courts. Many owners and tenants prefer not having to deal with the second-hand smoke issues related to cigarettes or marijuana
Many landlords think that they are able to screen applicants for renting their homes sufficiently. In the long run, they are responsible for giving approval for any potential tenant. Fussy landlords often turn down many potential tenants to find one that fits them better.
Lease agreements, drafted by a professional real state representative, will often have language related to smoking, pets or other limits that the landlord may prefer. As many people are unaware the rules of the building specifically apply. They can state no pets or non-smoking building. Otherwise tenants can have free reign in regards to smoking and pets. The stipulation of quiet enjoyment of others can come into play with a noisy pet or obnoxious fumes from smoking.
To be on the safe side, spend the extra money (usually one month’s rent plus HST) and hire a realtor. They can assist in the search in securing a long term rental client for your property. Avoid common mistakes or not checking references. Always googling potential renters, checking their social media, etc. The more research, the better. Similar to hiring for a job: hire hard, fire easy. Follow me on facebook for regular updates. TimSwift-Realtor