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What Happens if Your Tenant Does Not Pay Rent on Time?

by Ping Hsu | Apr 10, 2020 | Owner Education, Property Management Education, Rent Collection

When you place a tenant and sign a lease agreement, you expect that everyone will follow the terms of that agreement and meet the expectations that are explained. Hopefully, your tenant screening process has resulted in a well-qualified tenant who will contribute to a...

Is Your Tenant Not Paying Rent? – A Guide to Collecting Rent in Hamilton

by Ping Hsu | Dec 6, 2019 | Property Management Education, Rent Collection

Nonpayment of rent is one of the reasons that landlords are allowed to evict tenants in Hamilton. But, you don’t want to rush right to eviction if a tenant is late paying rent. Instead, we have some ideas about how to ensure your rent is paid on time. The eviction option will always be available to you, but try these tips and tricks first.

Tenant FAQs

When is rent due?

Rent is due on the first day of the month.

What if I am late on my rent?

If rent is not paid on the first 1st day of the month, we will send a rent notice to remind you that your rent payment is due. If payment is still not received on the 2nd day of the month, you will be served with a legal notice that may follow up with an eviction order. We offer many convenient payment methods to assist you to pay your rent on time.

How long does it take to process my application?

Typically, we can fully process your application within 2 business days once we have all documents required to complete an application.

What if my application is denied?

The deposit you gave us with your application will be returned to you.

What if I change my mind after putting down a deposit?

Your deposit is non-refundable. However, the deposit can be applied to another unit offered by Spotted Properties.

How much notice is required to vacate the property?

You are required to provide 60 day written notice to end your tenancy and it must end on the last day of the month. Please note a 60 days notice to vacate does not apply during a lease. You must wait until 60 days prior to the expiry of your lease before giving notice.

What if I want to break my lease and move out early?

If you break your lease and move out early, you will be responsible for the monthly rental payments on your rental unit until it is re-rented or your lease expires, whichever comes first. Any outstanding rent charges that are not paid will be turned over to a collection agency for processing and might become part of your permanent credit history.

In the event of an emergency in my rental unit, who do I call?

Always call 911 for any life, fire, or police emergencies.Please call our emergency line 1(888)486-5590 for the following Emergency Services immediately:
• No heat in the winter
• A plumbing leak or sewer blockage which threatens damage to personal property or the premises
• No electricity
• Any condition which could be a fire hazard
• Gas leaks or gas odours
• Lock-outs
• Break and Entry

Do I need to have tenant’s insurance?

It is mandatory that all tenants carry their own personal “tenant’s insurance” as the property insurance does not cover items such as theft, fire, smoke, water leak and/or other damage to the tenant’s belongings.

If I’m locked out of my unit, what do I do?

If you lock yourself out of your home, you may call your Property Manager to grant access.During business hours, a charge of $25.00+HST will apply; however, you can choose to pick up a spare key in our office. The key must be returned to the office on the same day.

After business hours, a charge of $50.00+HST will apply.

Will my rental unit be inspected?

Yes. Property inspections will be made on a periodic basis. Notice will be given in writing a minimum of 24 hours in advance and we will always aim to arrange the inspection at a mutually convenient time.

Owner FAQs

How much does property management cost?

We offer personalized management packages to suit all of your needs. For our full pricing information, please contact us.
How much is your tenant placement service without property management?
Our rate is only 75% of one month’s rent if subscribed to our property management services. We also offer significant savings if you have more than one property.
Please email admin@spottedproperties.ca or call us at (905) 527-3333 for more information on pricing.

Do I really need a property manager or can I do this myself?

You can definitely do everything we can. But what is your time worth? Here are some of the key reasons many people choose professional management over DIY-management:

1. Monthly on time rent collection and direct deposit to owner bank account
2. Move In & Move Out inspections
3. 24/7 emergency service
4. Coordinating tenants requests
5. Handling city warnings
6. Assist hearing process against troublesome tenants
7. Knowledge of Residential Tenancy Act to avoid costly mistakes
8. Professional Realtors who monitor Hamilton’s market 365 days a year to maximize your rent
9. Access to some of the best prices and property services
10. Freedom from record keeping and landlording
11. Save travel and worry time

Who signs the lease when a tenant moves in?

The lease for residential property is an agreement between Spotted Properties Inc as the landlord and the tenant. You will sign a Management Agreement giving Spotted Properties Inc the authority to act on your behalf as the landlord. The tenants will not have access to your personal contact information A signed copy of the lease will be emailed to you for your records.
For leasing only services provided by Spotted Properties, the lease will be signed by the owner and the tenant.

How do you collect rents?

Spotted Properties collects first and last month’s rent cheques in certified funds. We encourage tenants to set up pre-authorized debit for recurring monthly rent payments but also give them the option to pay through e-transfer and post-dated cheques.

When and how do I get my rental payments?

We disburse the collected rents minus any expenses and our monthly management fee to clients on or before the 11th day of the month.

What types of properties do you manage?

Spotted Properties manages student rentals, single-family home, multi-unit properties and commercial units.

What type of financial reports do I get and how often?

Owners are provided a complete accounting report 1st day of every month and an annual accounting report. Reports are sent electronically through email.

Will I have to pay for property repairs?

Yes. As the owner of the property you are still responsible for maintaining the property. There are several advantages of allowing us to coordinate the repair of the maintenance issues. We have the capability of negotiating with vendors for discount prices based on volume. These savings are passed directly on to you. We also provide 24/7 on call emergency service for those late night repairs that just cannot wait until business hours.

Is the cost of property management tax deductible?

Yes. The cost of our management services are deductible, just like your mortgage interest and property taxes. Please see your tax advisor for details.

Rental Criteria & Application Instructions

Thank you for your interest in renting a home that is professionally managed by Advantage Property Management Services. Below you will find the instructions and criteria required when submitting a rental application. It is important that you read the information below prior to submitting an application to understand what is required for renting the property. If you have further questions, please contact one of our leasing agents at x2.

Q: General Application Information

A: Anyone 18 years of age or older must submit a rental application. When submitting an online rental application, you may complete the “Other Applicants and Adult Household Members” section, which allows separate applications to be submitted together.APMS can only approve complete Rental Applications. A complete application includes the online Rental Application form for all adults household members, proof of income documents, and the application fee. If you have a pet you must also submit the Pet Application through the third-party screening service we use. If your application is approvable, but not the approved one for the property for which you are applying, you may consider applying for our other available properties for 45 days without payment of an additional application fee. After 45 days you will be asked to submit a new Rental Application.All Applicants must see the interior of the property before an application will be processed. The property must be accepted in “AS-IS” condition before an application can be approved, except where there is written agreement for modifications or repairs. Any such modification or repair request must be in writing and included with your application under “Other Information – Any other information we should know?” If your maintenance and repair request is acceptable to APMS, then it will be acknowledged in writing. Verbal representations are non-binding. In the event that the manager receives two or more unrelated applications for the same property, the Applicant understands the Landlord may select the Applicant desiring the property in “AS IS” condition over another Applicant requesting maintenance or repairs (this does not apply if the request is related to accessibility accommodations).

Q: Application Processing and Time Frame

A: Most applications are processed in 2-3 business days. However, it can take longer. You can help speed up the process by putting your current employer and current and past Landlords on notice that we will be contacting them.No vacant rental property will be held for more than 14 days unless approved by the property owner. Negative findings may cause denial of an application; false documentation or failure to disclose information is grounds for denial of an application. We will send you a link so that you may monitor the progress of your application.

Q: Income Requirements

A: Basic Criteria: Gross household income of 3.5+ times the asking rent.Minimum Criteria: Gross household income between 2.5x – 3.49x the asking rent will be considered with an increased security deposit. Applications with gross household income below 2.5x the monthly rent will not be considered and should not apply. Income must be verifiable. Examples of income verification include, but are not limited to, pay stubs, employee records, income tax returns, social security documentation, and bank statements.

Q: Basic Criteria

A: Priority will be given to an Applicant who meets all of these Basic Criteria, is willing to sign a long-term lease, has no pets, and is willing to take possession the date the property is available for move-in. To be accepted at the advertised Security Deposit, an Application must meet ALL of the following criteria:Income: Gross household income of 3.5+ times the asking rent.Credit: 700+ credit scoreRental History: No evictions, unpaid balances to past Landlords, 2 or more late rental payments, foreclosures, bankruptcies, or non-medical collections.Criminal History: Within the last 7 years, no felonies for illegal manufacture or distribution of a controlled substance, or felonies resulting in bodily harm or intentional damage or destruction of property (for example “arson”). No sexual related offenses for any time period.Applicants who do not meet the Basic Criteria, but exceed the minimum criteria, are encouraged to apply and may be accepted with a higher security deposit.

Q: Credit Requirements:

A: Basic Criteria: Credit score of 700 or higher for each Applicant.Minimum Criteria: Credit score between 600-699 will be considered with an increased security deposit. Applicants with credit scores below 600 will not be considered and should not apply. APMS obtains a credit report for all Applicants and does not accept copies of credit reports from Applicants.APMS accepts discharged bankruptcies if the prospective Tenant has re-established good credit. Negative credit reports may be grounds for denial of an application.Due to credit reporting regulations, we cannot provide you with a copy of your credit report or discuss its contents with you. However, we can provide you with the name of the credit-reporting agency so you may request a copy from them. All information collected for the approval or denial of this application is considered confidential in nature and for company use only.

Q: Application Fee

A: A $45.00 application fee is required per Applicant, without exception, and is non-refundable. This fee offsets the costs incurred while processing an application. A $45.00 application fee for guarantors is required as well and is non-refundable. If you have a pet, a separate pet application fee will be due to the third-party pet screening service.

Q: Security Deposits & Risk Mitigation

A: The advertised security deposit is available to applicants that meet all the Basic Criteria and have no pets. Applications that do not meet the Basic Criteria are considered higher risk. APMS mitigates the increased risk by increasing the security deposit. Applications that do not meet the Basic Criteria, but exceed the Minimum Criteria, may be approved with a higher security deposit. If a pet is accepted, the security deposit will be increased by $500/pet.If an application is approved with a Guarantor, the security deposit will be increased to double the monthly rent. If the property is furnished or partially furnished, the security deposit will be increased by 1x the monthly rent.

Q: Rental History or Property Ownership

A: Basic Criteria: APMS requires a minimum of two (2) years of verifiable rental history, and/or homeownership.Minimum Criteria: we will consider applications without verifiable rental history or homeownership with an increased security deposit. An eviction in the last 10 years is grounds for denial. References must be verifiable and family references are unacceptable. Negative references can be grounds for denial of an application.

Q: Criminal Background

A: Applicants who have been charged with crimes should disclose all information. This information does not automatically disqualify Applicants. However, Applicants should not apply if, within the last 7 years, they have been convicted of any felonies related to the illegal manufacture or distribution of a controlled substance, or felonies resulting in bodily harm or intentional damage or destruction of property (for example “arson”). Applicants should not apply if they have been convicted of any sexual related offenses.

Q: Acceptance/Denial of an Application

A: All Applicants applying together must qualify; denial of one Applicant may result in the denial of all Applicants.APMS typically notifies Applicants of acceptance or denial within 3-5 business days of application, unless APMS cannot complete verifications. If more documentation is required, APMS will notify the Applicant. Submitting a rental application does not constitute an offer to rent or commitment of any kind. If an application is accepted, APMS will send the Applicant an “Offer to Rent” email. Applicants are required to adhere to the timelines outlined in the “Offer to Rent” email. You will be asked to provide the security deposit and the first month’s rent within 48 hours. Make sure your funds are available in advance. The security deposit and first months rent must be paid by cashier’s check or money order payable to “Advantage Property Management Services”.

Q: Multiple Applications

A: If we receive multiple applications we will process all applications for consideration as to what we (in our sole discretion) deem the best Applicant, which may not necessarily be the first application received. In such cases, more than one Applicant may be approvable. Because we represent the best interest of the property owner, we will accept the best application, which may not necessarily be the first application received. Applications remain active for 45 days and may be assigned to another property we have available for rent.APMS expends time and incurs cost in processing applications. Hence, our policy is that the application fee is non-refundable. If your application is approvable, but not the approved one for the property for which you are applying, you may consider applying for other available properties that we may have for 45 days without payment of an additional application fee.

Q: Ideal Applicants & How To Make Your Application More Attractive

A: Ideal Applicants will have qualifications that exceed the basic criteria, will sign a longer-term lease, will to move in on the advertised available date, and will not have any negative rental history, bankruptcies, evictions, or collections. Applicants can make their applications more attractive by providing required documents quickly, agree to a lease term longer than 12 months, and/or agree to move in on the advertised available date.

WE ARE PLEDGED TO THE LETTER AND SPIRIT OF THE U.S. POLICY FOR THE ACHIEVEMENT OF EQUAL HOUSING OPPORTUNITY THROUGHOUT THE NATION. WE ENCOURAGE AND SUPPORT A PROGRAM IN WHICH THERE ARE NO BARRIERS TO OBTAINING HOUSING BECAUSE OF RACE, COLOR, RELIGION, SEX, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN.

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Pet Application

Each of our properties has its own unique Pet Policy, which is specified in the advertisement. Before you schedule a showing or submit a rental application, review the property’s pet policy to ensure your pets comply.

Applicants with pets or service/companion/assistive animals are required to submit a pet application through a third-party pet screening service. There is a fee for the service (fee is waived for service/companion/assistive animals). The application is available here.

If a pet is allowed, the security deposit amount will increase by $500/pet and Tenant will pay a Pet Administration Fee (“Pet Fee”) of thirty dollars ($30.00) per month for the first pet and twenty dollars ($20.00) per month for any additional pets.

Even if a property allows dogs, the following dog breeds are never allowed: Akita, Alaskan Malamute, Boxer, Bull Mastiff, Canary Dog, Chow Chow, Doberman Pinscher, German Shepherd, Husky, Pit Bull, Rottweiler, and Wolf Hybrid. Applicants with these dog breeds as pets should not apply.

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APPLICATION PROCESS

We appreciate your interest in our available homes for lease offered by XYZ PM. In order to qualify for one of our rental properties, you must submit a rental application. The rental application must be completed by each person age 18 years and older who will occupy the property. Applicants are required to complete the application in its entirety and submit all specified documents.

Leases are granted on a first-approved application basis. XYZ PM will process your application and notify you if you qualify to lease the desired property. Allow two business days for the rental application to be processed. If any additional information is needed a representative will contact you.

Important guidelines for XYZ PM Residents

RENT DUE: All rents are due on the first day of the month. Some of our leases have a grace period. Any rent not received by 5:00 PM on the last day of the grace period is considered late and will incur a late fee. Rents can be paid on line, mailed to us, or dropped off at our office. There is a secure mail slot on our front door where rents can be dropped off 24/7.

LATE RENT: Any rent not received by 5:00 PM on the last day of the grace period (if any) is late and a late fee of 5% will be charged. Personal checks are not accepted after the 5th of the month. If your rent is late it must be paid with a cashier’s check or money order (payable to Gordon Property Management) and must include the late fee.

BOUNCED CHECKS: If your check is returned by the bank for non-sufficient funds, or for any reason, you will be charged a retuned check fee of $40.00 PLUS the late fee of 5%. Replacement checks must be paid with a cashier’s check or money order and must include the NSF fee and the late fee. Personal checks will not be accepted by any tenant who has had two checks returned by the bank.

AUTOMATIC PAYMENTS: If you choose, you can arrange for an automatic payment with your bank. You can also make online rent payments via our Online Tenant Portal.

MOVING OUT: You must give 30 days written notice of your intent to move out. Once we receive your notice we will send you a move out packet with information regarding the pre-move out inspection and cleaning instructions.

MAINTENANCE REQUESTS: All requests for maintenance and repairs must be made through the TENANT PORTAL. You must give us permission to use our keys for entry or you must be home to let the repair person in.

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