As a property owner, it’s important to know the laws in Alberta before you rent out your property. The same goes for any tenant who rents out a property in Alberta. You may want to know what your rights are as a landlord and tenant. You may also want to have an overview of the most important laws to abide by.
So, for all Alberta landlords and tenants, this article will provide you with information regarding you just that!
Written or Verbal Agreement
Before a renter moves into an Alberta property, they need to sign a residential tenancies act. This is basically the lease or rental agreement containing all the information that each party needs to abide by. This rental agreement or lease can either be written or verbal, but it is always better to have everything in writing in case one of the parties breaks any of the terms in the rental agreement.
If the contract is verbal, it will not go too far in court if anything were to occur. In Alberta, the lease or landlord-tenant agreement can be a fixed-term or periodic, as long as both parties agree with what they are signing.
A fixed-term agreement will begin on a certain day and will end on a certain day.
The Alberta renter will have to move in on the day of the contract and will have to move out on the day the contract ends. The tenancy will end when the agreement date ends. No notice will be required for this.
Periodic Tenancy Agreement
A periodic tenancy agreement has an open-end date but a firm move-in date. The landlord and tenant can end this agreement by giving appropriate notice. There is no one periodic tenancy agreement, which means that this type of contract can go year-to-year, month-to-month, or week-to-week. It all depends on what each party agrees on.
Who Can & Cannot Stay on the Property?
It’s important to only allow renters who are registered on the lease to stay at the Alberta property for a long period of time. The tenant cannot allow another person to live at the property they are paying rent for without discussing with their landlord.
It’s also for health and safety reasons. Depending on the situation and if the renter has unauthorized tenants living at the property, the landlord may have the authority to provide that person notice to leave the Alberta property.
In most cases, property owners may require a security deposit (often referred to as a damage deposit) from his or her tenants. This is to ensure that if there is any damage to your Alberta property from the tenants that this deposit will help cover that.
A renter should not pay more than one month’s rent as their damage or security deposit. A crucial piece of information to remember is that the property owner cannot increase the security deposit even if they increase the rent.
Property owners in Alberta must put the security or damage deposit in a trust fund within two days of collecting it.
Upon a move-out, the Alberta property owner must return the security or damage deposit in full if no rent or other costs are owed on the contract. Moreover, this is also the case if there is no damage that is done on the property, aside from normal wear and tear. Wear and tear on a rental property is deterioration that occurs over time by renting out the property. The tenant must make sure that the property is in good standards upon leaving and that it is also clean. For more information about the difference between normal wear and tear and property damage in your Alberta property, click here.
Responsibilities of Landlords and Tenants
Alberta landlords and tenants, you have your own unique responsibilities.
We will provide you with a list of those responsibilities here:
As a tenant renting in Alberta, you are responsible for:
- Paying your rent on time every month or whatever you and your property owner agreed on.
- Being considerate about other people living on the property if applicable and of the landlord’s rules.
- Must not do anything illegal on the property.
- Keeping a clean rental property that’s in good standards according to the health and safety laws.
- Cannot operate a business from the property unless the property owner has given you permission.
- Move out on the agreed date in the lease terms.
- Abide by all the rules in the agreement between the landlord and tenant.
As a property owner in Alberta, you are responsible for:
- Making sure the Alberta property is ready for the move-in-date for the renter(s).
- Providing the residential tenancies act before a tenant moves in.
- Ensuring you provide a clean rental property.
- Do not bother the tenant and provide them with an appropriate notice if you need to visit the rental property.
- Make sure the property is livable throughout the whole period the tenant(s) are renting from you.
- Supplying your tenants with written notice of the landlord within 7 days after they have moved in.
If you are a property owner in Alberta and don’t think you have the time to take on these responsibilities, we may be able to help! A professional property management company like us can do all the tasks for you! We would be happy to provide you with peace of mind! For more information, you may contact Real Canadian Property Management Solutions today!