Rental Documents You Need When Renting Your Home
The process of renting a home is a busy one! You need to take photos of your home (or hire Rentfaster to for $35), list your rental, find the perfect tenant, and, most importantly, ensure that all rental documents are filled out and signed! Once you purchase a listing with Rentfaster.ca (for only $35 we might add), you have access to tons of useful information that will help rent your home faster! Not to mention, there is a screening process to protect you from experiencing a horror rental story. One of the features of Rentfaster.ca that not many are aware of are the FREE rental documents! With a free account on Rentfaster.ca, you have access to all the rental documents needed to properly and safely rent out your home!
NOTE: All forms are useable to create a Residential Tenancy Agreement for the province you live in. Some forms identified below are only available for certain provinces. Select the drop-down tab on the “Rental Forms” page to confirm you have the correct documents.
Fixed Term Tenancy Agreement
Once you and your new tenant have agreed upon the lease, it is necessary that you sign the tenancy agreement. This will acknowledge the timeline of the lease, have both parties signed agreement and approval, as well as the terms of the agreement. Both yourself (the landlord) and your new tenant should review the agreement in detail, ensuring that all features of the document are acceptable for each individual. The agreement also includes information such as:
- Fixed Term Tenancy
- Security Deposits
- Late Fees and Dishonoured Cheques
- Tenant Obligations
- Landlord Obligations
- Tenant Alterations and Improvements
In addition to the Fixed Term Tenancy Agreement Document, Rentfaster.ca also has a tenancy agreement document with “an option to convert to periodic” or a “periodic tenancy agreement.” These forms will have slightly different information, including the option for month-to-month tenancy. Be sure you select the form that best matches what you have discussed with your new tenant!
Inspection Checklist and Inventory Report
Once your tenancy agreement forms have been signed and agreed upon, as the landlord, you will want to have a record of the state of the rental. The Inspection Checklist and Inventory Report is one of the most significant rental documents you can have. This table-formatted sheet will allow you to go through and inspect the condition of the rental at move-in, move-out, and list the repair charges (if any).
Because there are so many things to remember and inspect, this form makes your inspections simple. Each room and item is organized so that you can go room-by-room and not forget the little things. Once the inspection has been done, there is an area in the document to complete your statement on the condition of the rental, as well as your tenants. At the bottom of the form is a section for you to fill out if there are charges and deposit amounts required from the tenant.
Statement of Account
Separate from the inspection checklist, there is a unique rental document that summarizes the account, security deposit, and deductions. This document includes the “final amount refunded,” so that both you and your tenant are aware of the final financial payments/refunds and have it for your records.
In addition to the listed forms above (dependent upon province), you will also have access to other rental documents should you need to provide:
- Notice to Vacate,
- Notice to Terminate,
- No Smoking Addendum
- Increase the Rent.
It is beneficial to always have a physical copy as well as a digital copy to ensure that you have a paper trail of your rental account. This will prevent any misunderstandings or problems in the future.
To access any of these rental documents, simply create your free Rentfaster.ca account. Once you are logged in to your account, under the tab “My Account” you will find a section called “Rental Forms.” It is here that you will be able to access and print any of the above or mentioned rental documents.
Create your free account today and get look forward to being an organized landlord! Happy renting!