The Rental Process
We’re committed to keeping your property working for you
From placing responsible tenants in your property to professionally managing and maintaining it, we do what it takes to help you make the most of your investment.
These steps outline our process for ensuring that your property continues to generate revenue for you.
- When a candidate decides he/she would like to rent your property, our Leasing Agent helps the prospective tenant to complete an “Application To Lease”. This document includes details of the offer, all pertinent tenant financial information and references. A security deposit equal to one month’s rent will accompany the offer. The security deposit equal to one month’s rent will accompany the offer. The security deposit is kept in a trust account, which is audited annually as required by the Real Estate Council of Alberta (RECA).
- The prospects are carefully screened through credit and reference checks, and the offers are presented to you along with our professional recommendations.
- The lease is signed by the tenant, and the tenant make arrangements to pay the rent .
- A complete walk-through of the property takes place. Photographs are taken, and notes from the walk-through are documented on an Inspection Sheet, which the tenant signs and the Leasing Agent signs on your behalf. At this time, we also request that the tenant provide proof of rental insurance.
- The tenant is given the keys and is able to move in.
- An account is set up for your tenant in the Tenant Portal on the Residential Leasing Group website. The tenant portal will allow the tenant to place maintenance requests, review statements and documents.
When your property is rented
On the first of each month, we collect the rent and deposit the funds into our trust account. These funds are allocated to your designated account. If there are invoices to be paid, they are paid directly from your designated account. At the end of the month, your account is reconciled. On or before the 15th day of the following month you will receive the net funds by direct deposit into your bank account.
During a one-year tenancy, we conduct bi-annual periodic inspections of the property to look for preventative maintenance issues inside and out as well as to monitor the tenant’s care of your property.
The first inspection is typically scheduled for three months after occupancy begins. If maintenance is required, your Property Manager takes care of coordinating with necessary contractors or vendors, and follows up to ensure the work was completed to our standards.
At the end of the lease
Our goal is to keep your property rented on a continual basis for as long as you want to have it on the market.
We speak to your tenant well in advance of the end of the lease to determine if he or she wishes to continue renting. If the tenant has decided to vacate your property, we have time to find a new tenant, minimizing the possibility of lost revenue between tenancies. If the tenant wishes to stay, we have adequate time to negotiate a renewal and prepare the documentation.
When the tenant vacates the premises, we complete a move-out inspection during which we reference the move-in inspection sheet and photos to look for differences. If the property is in comparable condition as when the renter moved in, the security deposit is refunded. If there are damages beyond normal wear and tear, we ensure that the damages are remedied and the costs are covered by the tenant’s security deposit.
If you have questions about the rental process, we’re happy to answer them for you. You can reach us here.