Thursday, October 15, 2009

Buyer Beware: Things to Consider When Renting

For our Buyer Beware project, my group members (Cindy, Neal and Aggie) and I looked at things to consider when renting an apartment, as well as the rules and regulations for tenants and landlords.



We started off by conducting a survey that asked 70 people questions pertaining to how much they pay for rent, what company they rent through, if they have encountered any problems and how efficiently the issues were taken care of.



We were actually quite surprised at the results from the survey. Most of the people who were surveyed were generally happy with their rental agency and there were very few who had serious problems. As far as agency reputations within Winnipeg, Sussex Reality seemed to have the slowest response time for repairs, while three quarters of the tenants of A.S.H. Management had encountered no issues at all with their unit in the last 12 monthes.



Another form of research we did was reading the guidebook on the website for the Residential Tenancies Branch. It gave a lot of insightful information on what is acceptable and legal when it comes to things like rental agreements, privacy policies, rental unit maintenance and termination of rental agreements. From that we were able to compile a list of suggestions to potential renters, tenants and landlords that will hopefully make for a better understanding of each side of an agreement and prevent serious problems from occuring. Here are some of the suggestions we came up with:
  • Landlords and tenants should always be in contact with one another, particularly on changes that occur, to ensure that problems can be dealt with appropriately or avoided all together.
  • Potential tenants should always make themselves aware of rules and expectations, particularly those outlined in the rental agreement, as well as for their potential landlords. They should also ensure that landlords are living up to the expectations and duties, and acknowledge when issues are neglected.
  • Landlords and tenants are both responsible for maintenance in accordance with health, building and occupance standards. If one or the other does not comply, it can be considered grounds for terminating a tenance agreement.
  • Be aware fo when rent is due, as it may not be aligned with a monthly calendar, and be willing to accept teh consequences of failure to pay on time. Late fees may be applicable and after the fifth day of non-payment, a landlord can deliver a termination notice.
  • Landlords and tenants shoyuld both be aware of what constitutes reasonable grounds for terminating a tenancy agreement.
  • Tenants should be respectful of other tenants in the complex as well as residents in neighbouring buildings.

Another interesting rental tool that we found while researching the internet were checklists for renters and landlords. Just by searching "renters checklist," a number of different type come up. Some are very short and cover the basics, while other go into great detail, asking things like "is there is a power outlet in the backthroom?" and "how cleanable are the floors?" Checklists for landlords are also very useful because they can provide renters with a good idea of what a landlord is looking for when reviewing tenants.

We think that with all the information we have compiled from our research, people who are looking to rent an apartment will have an easier time and be better educated on what to look for when renting. This will hopefully make for better tenant and landlord relationships as well as help people find units that are suitable for them.

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