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[10 Common Mistakes by DIY Landlords] Mistake #7 Not Ensure Tenant Pay Full Rent on Time

May 08, 2020

10 Common Mistakes by DIY Landlords – Mistake #7 Not Ensure Tenant Pay Full Rent on Time

As a landlord, it’s absolutely vital to collect your rent payments on time. RTA (Residential Tenancy Act) is very clear that Rent must be paid in full and on time, and in the case of a 10 Day Notice in full before the end of the fifth day. 

A landlord can give a 10 Day Notice to End Tenancy if rent or utilities are not paid by midnight on the due date. This notice may be served to a tenant the day after rent is due, or 30 days after giving a written demand for a utility payment

The notice is cancelled and the tenancy can continue if the tenant pays all the rent and utilities owing within five days of receiving the notice.

(.. to be continued)

We can’t guarantee that the above tips will help you manage your house effectively. However, we believe that ignoring them will cost you.

Remember to find a professional and licensed Property Manager who always works for your needs, not for his/her own commission.

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By Patrick Cheung

Patrick is a well-trained Rental Property Management Professional. He completed the Rental Property Management Licensing Course in UBC. Patrick plays a key supporting role in day-to-day functions and creates an active working partnership with our licensed Property Managers. Before joining us, Patrick worked in financial and technology areas for many years, he brings to the position extensive experience in business management, financial, mediation and a diverse range of IT technical skills.

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