Discussions

We are looking at possibly buying a house for a rental property and would appreciate speaking to someone, or a few someone's about their experience.  
 
If you you are currently an owner of a rental property and don't mind offering advise, and letting me know just what it is that I don't even know I don't know, let me know and I will PM you or you can PM me.  
 
Thanks in advance.

Sent you a pm

there is lots of stuff to consider when purchasing a rental property  
 
first thing is familiarize yourself with the residential tenancy branch rules and guidelines, this is a must and follow them as best as at all possible because when you end up having to deal with them if you didnt fill out such and such form ect then they have a harder time justifying your claim and will default to the tenant, so do a through walk through, take pics on that date too, get them to sign an agreement all of that stuff  
 
screen your tenants well and be firm on the rules too that usually scares off tenants who arent going to follow your rules anyway, for a small fee you can check at the RTB to see if there has ever been a claim against them, but even if there hasnt dosnt mean they are good, many landlords dont bother claiming  
 
keep your suits to 3 or under so you are able to adjust your rents when a new tenant moves in, 4 and over you are only allowed to raise the rent on the yearly guidelines which are usually not enough over multiple years  
 
if you want any more advice you can PM me, been a landlord since 2002

.....I appreciate the advice and willingness to help. If it's all right with you I could put together a list of questions and PM you.  
 
One quick one....do you disallow smoking in your rentals?  

ya if you have a list of questions ill reply to the ones I can  
 
for smoking, depending on the property i prefer not to because it stinks and then non smokers wouldnt want to rent the place without a huge major cleaning process but i have had a few suits that were smoked in before so i continued to allow them to smoke, everyone else i said outside is fine but not inside  
 
and im sorry to the pet lovers but after having allowed a few pets i will absolutely NOT allow anything more then a small goldfish

Sent one as well!  
Enjoy!