QA401 – Conduct the fixed term annual lease renew

QA401 - How to conduct annual fixed lease term renew Question (dated on 2021-08-07) What's the current rent in Edmonton (north east) on 4bedroom newer duplex (1100sq ft)with 2.5 bathrooms detached single car garage and finished basement. I'm currently charging my tenant $1,550.00 (utilities not included) and her lease is up in November. I asked her today what's she planning to do and I got text back that she would like to stay longer if I drop down the rent to 1450.. I think my rate…

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Q039, Furniture handling (bring in or take out) when I stay in a furnished home?

Bring in my own furniture or move out current when I stay in a Culfidant furnished home? Sometimes our new residents may consider to bring them own furniture into Culfidant furnished homes, or adjust or move-out certain items. Below is the best practice for you to consider and follow. In general, there should be no any additional furniture to be brought in There reasons are 01). All the furniture provided have been inspected and pest free and met with our health safety standard. 02). All the…

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Cat allowed? vs. smoking inside refinery…

Cat allowed vs. smoking inside refinery... As landlords, we often confront cases beyond "black and white" that has no simple guide to follow. How do you handle them? In this post, I will share such a story and how I handled it by drawing the wisdom from my past seemingly unrelated experience. Firstly, a brief summary on what had happened - A tenant called a few days ago, he asked if his girlfriend can join him for the last month of his lease (He will move…

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P501 – Noisy furnace – Diagnose and how to prevent

In a regular visit in a home, I noticed that there was a irregular noise out of the furnace in the utlity room, so I took a look and made a video. See https://youtu.be/PORm-vU-iMY After asked our maintenance staff check and fix the issue and here is what he shared. (see pics link below) https://photos.app.goo.gl/x8S41gZkbA8PSZzy8 the diagnose by the maintenance staff is as this  the cooling fan on the inducer fan motor was broken  what is the cause, and how to prevent it from happening in…

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Q038, What would happen if I change my mind after the lease is signed?

What would happen if I change my mind after lease signed? Recently a young couple applied one of our rental homes and got approved. They signed a fixed-term lease, paid the security deposit and the 1st month rent in full, and were happily ready for the move-in one month later. Then the bad news: they were being told by their employer that they have to be relocated out of town soon. The following question was raised naturally: " Can I simply back out the lease and…

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P407, Airbnb – Is it a good fit?

P407, Airbnb - Is it a good fit? The good, bad and ugly... A question comes up quite often is should one turn the current rental(s) into Airbnb? My personal view on this is quite simple: No. More accurately, I don’t recommend this option for the city I am currently living in – Edmonton. The reason? I can sum-up it in three words “Good, bad, & ugly”.  In this post, I will share with you what are these reasons in detail and why Edmonton, in my…

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P408, Initial Deposit – Secure the Fair Chance

Initial Deposit - Secure the fair chance Many of us have the similar experience: we viewed the home, loved it and applied. we were praying to get approved soon and move into the dream home.... A few days later, we were being told another candidate had been chosen among many applicants because his/her application is stronger even he/she applied after you. Is there a better and fairer way to secure your dream home? Yes, there is. Welcome to the concept of "initial deposit". This post explains…

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P406, One-level suite – is it right for you?

Single-level suite - Is it right for you? Now days it is getting more and more popular to divide one house into up/down rental suites. More popular for one good reason: because it provides a sweet spot for the savvy home hunters who love to enjoy the benefits of living in a house while saving big on renting costs.This post shares the pros and cons to live in a single-level suite, plus a checklist to decide if "single-level suite living" is right for you.  What is…

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P405, I can’t reset the breaker…

P405, I can't reset the breaker A few weeks ago, one tenant called that he couldn't reset the breaker. It kept tripped off and to make things worse, the fridge is on the same circuit. He was worried about the food would go bad soon, if it were not be fixed...", In this post, I will share with you how we followed up and resolved the issue and what are the 4 things we learned from this experience: 01). Be aware of "one side story" 02). Channel the…

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P404, When my fridge stops working…

What if the fridge quits working... One question has been asked quite often is “what is going to happen if our fridge stops working?”Below is our guideline based on the principle of “We care/share as if it is our home together”. It is a common-sense approach that is quite similar to the case when we have a fridge broken in our own home, with a few specific notes that apply to renting-situation. Common sense approach Imagine what would happen if our own home fridge broke down…

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