How much is your move in Fee?

There are many costs Landlords incur when renting their property. The Residential Tenancy Regulations outline prohibited fees, refundable fees and non-refundable fees owners and tenants may encounter. 

Section five of the Regulations identifies prohibited fees which includes guest fees, replacement of keys or devices if the landlord changed the keys. Section 6 identifies refundable fees which includes keys or devices which are not the sole access to the property and can only be the direct cost of replacement. Section 7 identifies non-refundable fees permitted which includes direct costs for replacing keys, or additional keys, service fee charges for returned payments, and move in or move out fees.  

Item(e) Move in or Move out Fees charged by Strata Corporations are fee’s Landlords are permitted to charge tenants when renting property in a Strata Corporation. All Strata Corporations will have a move in and out process outlined in their bylaws or rules. The bylaw or rule will identify a fee which is charged to owners when a move in or out occurs. Some Strata Corporations may only have a move in fee and no move out fee. Landlords should be familiar with the bylaw or rule and identify the amount of the move in fee and communicate this to potential renters when applying to rent as a cost the tenants will be required to pay. Landlords can collect the fee from the tenants and pay the strata directly or have tenants pay the Strata Corporation directly themselves. Cartref Properties recommends collecting the fee from the tenants and paying the strata directly ensuring the fee is paid. 

Check your bylaws and see what your move in and out fees are before renting your property.

If you need assistance managing your rental property Cartref Properties can assist you, call today to discuss your needs. You can find more information about us at: www.cartrefproperties.com