So you have a home with a rentable suite, and you're finally ready to take the necessary steps to becoming a landlord. Congratulations! As you might have guessed, there are certain precautions you must take when renting out a suite in your home, and the task should be taken seriously to ensure everything runs smoothly. Renting out a part of your home, however, can have great financial benefits.
RTA: Familiarize Yourself With the Rules
When it comes to just about anything in life, knowledge is king; becoming a landlord in Vancouver is no exception to the rule. Before you start looking for a tenant or preparing your suite to be rented, take the time to familiarize yourself with the Residential Tenancy Act. This is the law in British Columbia that…
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