LANDLORDS
Once your lease agreement goes firm, and your future tenants have been fully vetted by us (that’s part of our promise to you), the final documents will be forwarded to our Operations Team to be processed. Before you welcome your new tenant, there are a few things that should be addressed.
COLLECT RENT CHEQUES
How will I be paid by the tenant?
Your lease agreement will outline the payment terms you've agreed to with your tenant. If rent is being paid by cheque, you may want to request post-dated cheques covering the full term of the lease.
Alternatively, you can set up direct deposit through your bank, or have your tenant send rent directly via e-transfer.
EXCHANGE OF KEYS & LOCKBOX REMOVAL
How will the tenant(s) get their keys?
You'll need to provide your tenant with the agreed number of keys on the lease commencement date, as outlined in your lease agreement. We can help coordinate a time for you to meet your tenant directly to exchange keys, or arrange for the keys to be delivered to them.
Alternatively, if you'd prefer, you can leave the keys in the lockbox or provide them to us. We'll then arrange for the tenant's agent and/or the tenant to pick them up on the lease commencement date.
When will my lockbox be removed?
If the lockbox is being used for the key exchange, it will remain at the property/ unit until the commencment date. Once keys have been exchanged, our Operations team will coordinate a lockbox removal.
PREPARATION
What measures do I have to take before my tenant(s) move in?
1. Repair any damages and check utilities
A landlord is obligated to maintain a rental property. Before your tenant moves in, you will want to repair any existing damage, check appliances and verify that all smoke detectors are in working order.
2. Clean the property
Before your new tenant moves in, ensure that your unit has been thoroughly cleaned. If you require a cleaner, we have a list of preferred partners to recommend, and can coordinate this cleaning on your behalf.
3. Change Locks
If you’ve had a previous tenant occupy your unit, we highly recommend you change the locks for the safety of your new tenant.
BALANCE TO VENDOR
What is a balance to vendor?
The deposit from the tenant will be held by our Brokerage in trust until closing. If the deposit is greater than the commission owing, the balance will be issued to you as a Balance to Vendor. This will be issued within 3-5 business days following the confirmation of closing and can be mailed or sent via electronic transfer. Our Operations Team will be sending you the Client Funds Authorization Form via DocuSign so you can provide instructions on how you would like to receive these funds.