CMHC - New tool for rental properties

Canada Mortgage and Housing Corporation is pleased to advise that they have launched a free online tool intended to help Canadians living or planning to live in rental accommodation, as well as property owners & managers of rental properties. 

It is a practical guide to the rental process, providing residents and property owners/managers with an overview of their rights and responsibilities as well as handy worksheets, sample letters and helpful hints. Provincial and territorial contacts and fact sheets are also included. This new guide complements the existing CMHC home buying guides: * Home Buying Step By Step; * Residential Condominium Buyers Guide; and * Homeowners Manual The guide can be found on the CMHC website at www.cmhc.ca. ----------------------------- This guide contains information for residents, such as: 1. Getting Started Whether you are a first-time renter or an experienced tenant, finding the right place takes effort and time. The seven parts in this section will help you prepare to look for rental accommodations. 2. Renting a Place to Live You are prepared to look for a place to live and you have an appointment to visit a prospective rental accommodation. The information in this section will help you evaluate accommodations. 3. Once a Rental Agreement Has Been Made Planning the move, arranging new services, packing: now that you have a rental agreement, you must take care of many things. These six sections will help you prepare for the transition to your new residence. 4. Issues During the Tenancy This section addresses practical tenancy issues such as: process for regular repairs, defining emergency repairs, handling property owner/manager-resident conflicts, rent increases and lease renewals. 5. Moving Out Maybe you have found a better place to rent or maybe you have purchased your own home. It is time to move again. This segment is designed to help you through the transition. ------------------------- The guide also contains information for property owners/managers. Whether you have multiple units in a high-rise or an apartment in your basement for rent, you need to know many things about finding residents and making your rental business work to your advantage. While other sections provide information for both property owners/managers and residents, this section covers key business and legal aspects of being a property owner/manager. 1. Just Starting? Get Informed Helps new property owners/managers familiarize themselves with the relevant rules and regulations. 2. Marketing Your Rental Unit These tips will help you find residents. 3. Now that You've Found New Tenants Information on deposits, rent increases and how to finalize a tenancy. 4. Dealing with Problems Summarizes the property owner's/manager's obligations and refers to relevant information in the various province-specific pages. 5. When the Tenancy Ends Provides information on conducting a final inspection, returning deposits and ending a rental agreement. 6. When Taking Legal Action, Be Meticulous This section outlines steps you can take to handle complaints and offers tips that will help you if you need to take legal action. 7. Resources for Landlords Presents resources and online links that offer valuable information for property owners/managers. ------------------------------ CMHC welcomes comments on this new and valuable resource. Please direct all feedback to: Dennis Cleve, Corporate Representative, MB Canada Mortgage and Housing Corporation 4th Floor, 10 Fort Street Winnipeg, MB R3C 1C4 Tel: (204) 983-8503 Fax: (204) 983-8046

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