| The housing slump of the past few years has lent | | | | realtors and landlords storming through the home to |
| itself to the invention of the Accidental Landlord. | | | | show it to prospective buyers, and in the process |
| Loosely defined, an Accidental Landlord is somebody | | | | completely upsetting the day-to-day equilibrium of |
| who has attempted to sell a property at a price that | | | | the tenant's lives. In certain cases, the tenants will |
| the market deemed as being unrealistic, and as a | | | | repay these frustrating acts with messy homes or |
| defensive maneuver, has elected to rent out. The | | | | by providing negative details to the prospective |
| good news of course is that the trend of house | | | | buyers who may take everything the tenant says as |
| prices spiraling downward seems to be at its end. | | | | serious and truthful, whether or not the information is |
| Accidental Landlords are nearing the end of their | | | | truthful. |
| accidental occupation and that new lease on life that | | | | The next tip is to check with your local legislation and |
| renting provided is growing increasing less necessary. | | | | see what sort of notice period is required to be sent |
| The problem for Accidental Landlords now becomes | | | | to the tenant prior to a landlord or realtors entry of |
| that of how to sell a property that is tenant | | | | the home. In most provinces or states, this time |
| occupied. The remainder of this article will provide | | | | period is about 24 hours. If you stick to this amount |
| some insights and tips we have learned through our | | | | of time the tenant will notice and likely show some |
| Calgary Property Management Company, Hope | | | | favorable response to your mature and respectful |
| Street Real Estate Corp. | | | | gesture. |
| The first, and clearly the most important tip, relates | | | | Finally, and perhaps most obviously, be sure to |
| to establishing a positive, truthful relationship with | | | | review the residential tenancy agreement and |
| your tenant. It has been our experience that most | | | | observe the lease dates prior to listing the home for |
| tenants will feel marginalized if faced with real estate | | | | sale. In most cases, if a lease exists and your tenants |
| agent advising them that their home is about to be | | | | are not willing to leave early, you will have no way of |
| put on the block. As a landlord, be sure to discuss | | | | getting vacant possession on closing for your buyer. |
| such intentions with the tenant prior to any actual | | | | Less than a year ago, I came across a situation |
| listing contracts being signed, or any marketing of the | | | | exemplifying this tip; the landlord had no idea that the |
| home beginning. Offering the tenant the opportunity | | | | tenants had no intention of leaving early, and the |
| to purchase the house, at a discounted price in lieu of | | | | buyer had no intention of taking the tenants. This |
| realtor fees, is a smart move that will inform the | | | | proved to be a very expensive lesson for the |
| tenant of your plans and provide a respectful and | | | | landlord because, after accepting an offer for the |
| tasteful solution to what can often be a problematic | | | | purchase of the home, the contract had to be |
| situation. | | | | reversed and the buyer's money refunded. |
| I have seen tenants grow increasingly upset over | | | | |