Renting is often a stepping-stone to home ownership. Unfortunately many tenants don’t understand how a poor rental history can negatively impact them. Unpaid rent can lead to collections and blights on your credit report. This can be compounded by the fact that a lot of renters are unaware of how to properly notify a landlord to terminate their tenancy of the home.
Notice: Often through simple ignorance tenants verbally give notice to a landlord. This means that they are at the mercy of sometimes-unscrupulous landlords who will take advantage of the lack of paper documentation. Written notice provides a record of the notice to terminate tenancy, and clearly defined terms.
There are clear regulations and guidelines drawn out in most leases as to the required notice. When rent is paid monthly in most cases the minimum notice required to terminate the lease will be 2 full months. It is essential that notice be given in writing directly to the property owner or their representative.
Assumed Occupancy, occurs when there is no written notice delivered to the landlord announcing the termination of your tenancy. This means that you continue to be liable for damages and rent that take place during the assumed occupancy. Written notice will eliminate the issues surrounding assumed tenancy and will limit your personal liability as a tenant.
Payments: Your payment history when renting is important, missed and late payments can quickly add up. This in turn may affect your ability to obtain credit, for items such as a car loan, or a mortgage among other things.
In the event that you can’t make your payment you should inform your landlord immediately. This will avoid NSF cheques or penalties associated with the late payment. This will allow you to negotiate a payment schedule to correct any rental arrears. Most landlords want to maintain the tenancies in their buildings so they may be willing to be lenient if it is your first late payment.
Grievances: Landlords and tenants can have issues to grieve. Leaking pipes, unpaid or late rent, pealing paint, and property damage to name a few. The best way to track grievances is to keep a written record. Written notice should be provided to your landlord. This will ensure that in the event there is a need to terminate the tenancy early you will have the supporting documentation needed to be successful.
It is important to remember that your documentation will ensure equitable tenant landlord relations. It will protect you in the event of early termination of tenancy, late payment of rent and any grievances between yourself the landlord and other tenants in the building. Ultimatly it will proptect you in the event the landlord claims damages against you as a tenant.
