West Vancouver Property Managers – Why a security deposit?

  • 8 years ago
  • 1

West Vancouver Property Managers will inform tenants they will be required to bring a security deposit in the amount of half a month’s rent when they come to sign the residential tenancy agreement. Why a security deposit? It is a security against the potential damage caused by a tenant on the rental property. The landlord has the right to obtain not only a security deposit but also a pet deposit as well against future damages. This does not mean the landlord automatically keeps the deposit rather it is kept in trust against the possibility of property damage caused by the tenants or pets or both. There is always a move in inspection report completed before the tenant actually takes possession of the property whereas a thorough checklist is completed and pictures taken as a security for all parties concerned. The expectation is how you receive the property is how you will leave the property. West Vancouver home owners rely on these reports as a safety precaution their homes and property will be valued and taken good care of. At the end of the tenancy, there will be a move out report completed and any damage caused by either the tenants or pets over everyday wear and tear will be deducted from the actual security deposits kept in trust. The security deposit must be returned to the tenants within 15 days of the tenants vacating the premises if there is no damage. Renting a home in West Vancouver usually involves a significant square footage so be prepared to take 2-3 hours for the reports to be completed as it can be very time consuming to inspect homes this spacious. Always leave your forwarding address in writing with the Property Manager. The best insurance to getting back your full security and pet deposits back is to take excellent care of the property you are renting and do a thorough cleaning of the house including carpets and windows. This will insure a positive relationship and maintain your excellent rental references for the future.

Compare listings