How to Protect your Rights as a Landlord

When most Landlords hear "Residential Tenancy Act" their eyes roll and their hearts sink. It is widely thought that the Residential Tenancy Act is heavily weighted to protect the tenant’s rights. Although this is somewhat true the Residential Tenancy Office (RTO) does support the rights of the landlord. The best way to explain how the Act can protect the landlord is to first understand that there is a level of knowledge of the Act expected of the Landlord by the RTO and those that enforce the Act. The Act is written to protect the tenant simply because a tenant comes from many walks of life and levels of education i.e. a laywer or perhaps a person with limited education on assistance. A Landlord on the other hand is essentially running a business of renting a residential property. The Act expects that you as the landlord should educate yourself in the business you have chosen to participate in. As Professional Property Managers we are well versed in the Residential Tenancy Act and the guidelines set out by the RTO. It is the extensive knowledge and understanding of these guidelines that assists us in protecting our clients from the long drawn out processes of the Residential Tenancy Office and loss of income due to errors in policies and procedures put forward within the Act and the guidelines.