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In this episode, the hosts discuss common mistakes made by landlords and how to avoid them. They cover the importance of hiring experienced agents, adequately screening tenants, maintaining property, using standard lease agreements, and understanding landlord and tenant laws. The team emphasize that building a good relationship with tenants is crucial for a successful rental experience. Tune in to TR Talks for more informative discussions on real estate.
Shownotes
- [00:01:05] Mistake #1: Not hiring experienced agents
- Collaborating with experienced agents is crucial
- Avoid part-time agents and those with little to no experience
- [00:02:40] Mistake #2: Inadequate tenant screening
- Understand the tenant's financial background, credit report, and references
- Check two landlords ago, not just the last landlord
- Check online presence
- [00:05:20] Mistake #3: Neglecting property maintenance
- Repairs due to normal wear and tear are the landlord's responsibility
- Upkeep of the property will generate better quality tenant applications
- [00:08:00] Mistake #4: Inadequate lease agreements
- The Ontario Standard Lease Agreement is the standard agreement
- Understand landlord and tenant laws
- [00:11:00] Mistake #5: Lack of understanding of the landlord and tenant laws
- Understand the laws before representing someone
- Tenants have rights and responsibilities
- Landlords have responsibilities to maintain the property and respect the tenant's home
- [00:13:40] Building a good relationship with the tenant is important
- Tenants are more willing to cooperate when they have a good relationship with the landlord
- Remember that landlords are working with people
Team Rajpal
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Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
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