Embracing Rentals in Strata Communities

With no rental restrictions in residential Stratas, it is important to have structured governance in your building. The end-goal of all parties should be to build a community that’s cohesive and user-friendly. Whether you rent your unit or own it, it is where you live and therefore you should take pride in your community.

As a Resident, you should always put the burden on yourself first, and ask “what can I do to contribute towards a friendly, thriving building?”

Everyone who has an interest in the building (Owners, Tenants, Landlords, and Developers) can follow these very simple and common-sense guidelines:

• Familiarize yourself with the building systems and use them correctly with care; for example, don’t force the elevator door to stay open as the repairs will be very costly.
• Understand that common area repair costs are paid by all Owners through Strata Fees, and increases in the budget could also affect rent. Remember the common areas in the building are the extensions of your homes and you are a shareholder in these common areas.
• All Residents should familiarize themselves with the building’s Bylaws & Rules to avoid unintended violations and conflicts with fellow residents.
• Submit your full and complete emergency contact information form (Owners and Tenants alike) to your management company.
• Community social events should be open to everyone! Get to know your neighbours and Council Members. Perhaps ask why they like living here and what their expectations are for the community.
• Read the homeowner’s manual to learn where the main water shut-off valve is and how to use your appliances, Air Conditioning, Thermostat, etc., correctly.
• Stay connected by reviewing announcements on your community’s web portal and reading Strata meeting Minutes.
• Landlords! Please stay connected with your Tenant(s) & Strata Council! A Landlord who manages his/her Strata Lot with care, always being there when needed, will make a world of difference. It should not be only about collecting the rent! If you need help, please hire a Rental Agent!

It takes all of us working together towards a good community. No one else is going to do it for you. Your Strata Council, Service Providers, and Managing Agent will do their best to look after the common areas, but your role is equally important.

Stay engaged, be interested, and be helpful!

Associa’s rental department, “RHOME”, can also help Landlords manage their investment properties professionally and with the utmost care. Contact us today for more information.