Any Burnaby property management company will tell you that things don’t always go smoothly when you decide to rent out your home. If you decide to undertake this yourself than you MUST be able to handle confrontation well. Just because you have a great tenant it doesn’t mean that challenges won’t arise. Sometimes it’s the tenant’s personality and sometimes things might happen with the home itself.
How will you react when the tenants give you a big laundry list of things that need to be repaired? As you deduce that every dollar of profit that you hoped to make will be eaten up by their requests do you have the composure to trim the expectations of the tenants to what is fair and reasonable?
The last thing in the world that you want is someone living in YOUR Burnaby rental home that doesn’t like you or harbours resentment toward you. You need to resolve all challenges in a matter that leaves both you and them satisfied with the end result.
The most common place where conflict is evident is during the move-out. Most tenants do not react well to being told that they will not be receiving back a portion or their entire damage deposit. Are you being reasonable in your request? If so, will you wilt under their verbal barrage and threats of legal action? Knowing your rights and obligations is the first step and having the gumption and commonsense to act accordingly is the second. If you are going to manage your own Burnaby house for rent than you will certainly need to have some backbone.
Orca Realty Inc.
Unit 204 – 2438 Marine Dr. West Vancouver, BC, V7V 1L2 Canada