Landlord Forms Must-Haves for People in the Property Business
In order for any business to run smoothly and professionally everything should be documented or recorded. It is quite easy to deny agreeing with certain requirements if the understanding has been made verbally. That is why it is always best in business to put all agreements in writing so that there is always a remedy once any of the provisions have been violated.
The same principle holds true, more so for property business. There are quite a number of things that need to be communicated by the landlord to his tenants. And since it is risky to leave agreements verbally, having various landlord forms ready would be very convenient.
Here are various landlord forms that owners ought to have when running their property business:
· Application to Lease – this is the form to be filled out by interested tenant to formally show his intention to lease a residential or commercial property. This form also helps the landlords and property managers in collecting pertinent information about potential tenant such as employment history and source of income. Needless to say a lease application aids the screening process.
· Tenancy Agreement – this is a contract between the landlord and the tenant that spells out in details the rights and responsibilities of both parties.
· Inspection Report – at least two written inspection reports are required based on the Residential Tenancies Act. This type of report contains information on the state of the property before the tenant moves in and after he moves out.
· Notice of Rental Increase – this is the form used by Landlords to officially inform their tenants on pending rental increase. Needless to say the same is subject to pertinent rules and issuances on the matter.
· Notice of Entry – this is the form used by landlords to give their tenants advanced information that they will visit and enter their property at a given time for some valid reason.
· Notice of Termination of a Periodic Tenancy for Allowable Reasons – this form officially notifies the tenant that his tenancy will be ending even if he has completely abided by the tenancy agreement. This is allowed by law for specific reasons like when the landlord will be using the property.
· Eviction Notice or Notice of Termination for Substantial Breach – this form can only be used under certain circumstances as specified in the Residential Tenancies Act.
· 24-hour Notice to Show or Inspect – this form is used by landlords to communicate to their tenant that they will be making repairs to the property 24 hours after the tenant receives the notice.
The various landlord forms discussed above are just some of the required forms that landlords should know about and maintain. These are forms that would be particularly helpful in conducting their daily business with ease. These landlord forms also provide order and system in one’s property business. It is important to note that every single one of these forms should have passed through scrutiny to ensure that the same are in accordance with relevant laws and issuances in Alberta, Canada.
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