A condominium (condo) is “a building or complex of buildings containing a number of individually owned apartments or houses”. Owners of each unit, pay a monthly amount to the condominium board (board) who then are responsible for maintenance and upholding the bylaws of the complex. As a condo complex is more than one persons home, both the owner of the condo and any person who wishes to rent the owner’s condo, have responsibilities to not only the neighbouring condos but to the condominium board.
Owner(s) of the condominium, should be very familiar with the Alberta Residential Tenancies Act , Laws for Landlords and Tenants in Alberta, and Condominium Property Act. To protect yourself, you the landlord /condo owner, must understand the implications of renting your unit. Talk to your condo board before renting. A landlord has rights and regulations inside the condo, but the board has responsibilities outside the condo. A few things the condo board will require (but not limited to):
- Condo owner/landlord is not to rent the unit until given written notice of intent to rent to the board
- Address at with the owner of the condo may be served notice (see #54, 55, 56 of the Condominium Property Act
- No renter will “cause damage to the real or personal property of the corporation or go against the condo bylaws
- The board may require a deposit fee which may or may not be refundable
- The renters name must be provided to the board in writing 20 days before moving in and 20 days after no longer renting
Make sure you fully understand the laws and regulations before renting. A great starting point is “Renting Out Your Condo in Alberta” available from the Condo Law for Albertans website.
Alberta law guarantees Condominium Boards can not stop an owner from renting their unit. Best practise is to keep the condo board your friend by adhering to the bylaws and educating yourself of the regulations/rules in Alberta. Making sure you, the owner, have a responsible renter and visit the property
Renting a condominium means not only are you following the normal rental guidelines, but you must also follow the bylaws of the condominium board. As in the case of the condo owner, the renter should also be familiar with the bylaws and the requirements from the renter.
A good condo renter will keep in mind these properties are owned units. Condo owners share responsibility when it comes to the cost of maintenance, therefore often have more pride of ownership as they wish to keep the value in their property. You, the renter, are also responsible for biding by the rules of the condo board and being a respectful tenant. A few items which are not neighbourly:
- Leaving rubbish in public access area
- Not parking your vehicle or your visitor vehicle in designated spaces
- If the building in NOT pet friendly, don’t have ANY pet
- If pets are allowed, clean up after them.
- Be aware of noise guidelines
- Cannabis may be restricted
These are but a few helpful tips to remember and to be familiarize with the bylaws for each.
Rentfaster.ca lists other resources/helpful links worth checking out. The key take away from this blog for both an owner/landlord and the renter/tenant – check in with the condominiums’ board. They aren’t your enemy. They represent the entire building not just one unit.