A landlord is someone who has ownership of a property, and rents or lease such property to a business or individual for their own use for a fee. The landlord may have an agent or management company represent them in taking care of the tenancy and the property, but the owner is still the landlord. The person or company that rents the property is called the tenant. The landlord is sometimes called lessor or owner.

An agreement must be signed to create a landlord and tenant relationship arrangement. This is recognized by law and most cities and countries have regulators to ensure everyone’s rights are protected. The property can be a farm, apartment, warehouse or office building.

A Tenant is someone who occupies or uses a leased or rented property from a landlord for a period of time. This could be an office, warehouse, bungalow, land, or a basement. The tenant pays a fee to use the property, this is known as rent. Such fees can be paid in cash, cheque, or through electronic transfer.

It may be unlawful for a tenant to withhold rent when some services are denied. Instead, the tenant will have to make a complaint or sue the landlord. The tenant is expected to enjoy the property rented while their agreement is still active. The tenant has rights and those rights should never be trampled upon. Sometimes some issues may need clarification to know who is responsible if such was not properly clarified or understood. Issues like who pays for repairs, is it all parties or just the tenant? Who pays for snow removal? A good realtor should be able to help address such complications.

The Landlord and Tenant Board (for example the Ontario Rental Housing Tribunal) is an adjudicative tribunal operated by the government of Ontario that provides dispute resolution of landlord and tenant matters under the Residential Tenancies Act, 2006. It is one of the eight social justice tribunals in Ontario.

Every state or province has similar boards and regulatory bodies. The board is key to protecting the rights of tenants. They try to hold the landlord to keep the property in a habitable state. This is done by making the property livable, safe, and clean for the tenant’s use. They are also to provide any lawful items listed in the rental agreement. The board defines the landlord’s responsibilities and what is expected of the tenants.

A contract in real estate is not 100% the same as an agreement, even though they have a lot of similarities. In general, a contract is legally enforceable and does not have to be written, but in real estate, it has to be in writing to be enforceable. Contracts respects and protects the rights and duties of all parties to the contract. These often involve the exchange of products, services, money, and other forms of promises. A real estate contract can be between a buyer and seller, or a tenant and landlord. All parties must sign the agreement documents. 

There are no perfect answers to how showings should be managed. The important thing is to have a good communication flow with your agent. The agent/realtor is very knowledgeable on safe and appropriate ways to schedule showings. The client needs to formulate or agree to an acceptable plan based on the advice of their real estate professional. A safe lock-box system must be properly communicated to all authorized parties. The sellers must be comfortable with the lock-box security and safety arrangements. Most buyers will like to view twice before making up their minds. Some can be unreasonable and mismanage time until the desired property is sold. There should always be a balance to how best to manage viewings and the security challenges if not properly handled. 

A multiple listing service (MLS) is a database established by cooperating real estate brokers to provide data about properties for sale. An MLS allows brokers to see one another’s listings of properties for sale with the goal of connecting homebuyers to sellers.

www.MLS.ca
www.Realtor.ca