Being a real estate investor is good to know the British Columbia residential tenancy act and the governing rules. It is essential for both the real estate investor and tenants to understand their rights and obligations. It is important to keep up today rental laws and comply with those laws and the occurrence contained in the tenancy agreement including Pet Damage Deposit British Columbia
Security and Pet Damage Deposit British Columbia are required by real estate investor/ landlord can require from a tenant to pay a security or pet damage deposit or both, the security and pet damage deposit combined cannot exceed more than 1 month rent. The deposit shall be paid in 30 days of entering in to rental agreement or one month notice to end tenancy.
Landlord or real estate investor can decide whether or not they would allow the pets in their house or building where the pets are allowed the landlord has the right to restrict the size, kind or mummer or pets. The landlord also can establish pet related rules and tenant must abide those rules.
A real estate investor/ landlord who permits a new tenant to have a pet can charge a onetime pet damage deposit at the time of moving. The deposit cannot exceed more than 1 month rent no matter how many pets there are.
A landlord/ real estate investor who permits an existing tenant to have a pet can require tenants to pay a pet damage deposit which shall not be greater than half a month rent. Before receiving the pet damage deposit the landlord must inspect the rental unit with the tenant, complete condition inspection report and provide a copy to the tenant within 7 days. The deposit can only be used to claim for the damages done by the pet.
Pet damage deposit cannot be charged for animal subject to the guide animal act or pets that were at the property as of January 1st 2004
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The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case
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