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?
If you haven’t already, coordinate a time to meet your tenant to pick up all the monthly rent cheques for the entire term of the lease. Ensure the cheques are post-dated to the appropriate times that have been agreed upon by both parties.
You can also arrange electronic e-transfers or automatic debits with your tenant, through your banks.
EXCHANGE OF KEYS & LOCKBOX REMOVAL
How will the tenant(s) get their keys?
You will have to provide your tenant with the agreed upon number of keys, as per your agreement on the lease commencement date. We will help facilitate a time for you to meet with your tenant to exchange keys, or coordinate the delivery of these keys to your tenant. If you’d like, keys can be left in the lockbox or provided to us, in which we will provide access to the tenant’s Agent and/or the tenant on the lease commencement date to take the keys.
When will my lockbox be removed?
The lockbox will usually stay in place, with keys inside, until your lease commencement date. Once keys have been exchanged, our Operations team will coordinate a lockbox removal at this time.
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 client and to protect you from any liability.
BALANCE TO VENDOR
What is a balance to vendor?
The deposit from the buyer will be held by our Brokerage in trust until closing. As 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 from your lawyer and can be mailed or sent via electronic transfer. Our Operations Team will be sending you the Client Funds Authorisation Form via DocuSign so you can provide instructions on how you would like to receive these funds.