SOURCE: Ferguson Moving & Storage

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December 10, 2015 19:26 ET

Vancouver Movers Ferguson Moving Publish Tips on Deposits and Tenant Management

Vancouver Movers Ferguson Moving Company Aims to Reduce Tensions Between Landlords and Tenants When Moving

VANCOUVER, BC--(Marketwired - December 10, 2015) - Ferguson Moving and Storage, a team of professional movers based in Vancouver, have just published a blog relevant to anyone letting or renting property in BC. This article, which address how damage deposits work, is part of a short series aimed at helping people better understand the rental process in BC. For more information, go to: http://www.fergusonmoving.com/blog/tips-tenant-moves-in-bc-tenancy-damage-pet-deposits/

In order to create a tenancy, the blog explains that landlords must create a written agreement between themselves and the renter(s). However, many don't realize that accepting a security deposit immediately infers tenancy. In other words, once a renter makes a deposit he or she is considered a tenant. It's important to understand this, because inadvertently accepting a tenancy before agreeing to the terms can lead to a host of problems.

Before accepting a damage or pet deposit, make sure your prospective tenants understand the terms of occupancy and sign an agreement to that effect. At this point, according to the BC Tenant Act, it's now okay to ask for a damage deposit and pet deposit (if applicable).

Deposits are one time payments that may be charged before a tenant moves in. Additionally, The Tenant Act states that the combined value of the damage deposit and pet deposit cannot exceed one month's rent.

To prevent potential disagreements about subtracting money from the deposit(s) when the client leaves, make sure you meet with the tenant and do a condition inspection and report before they move in. Share a copy with them immediately so you can refer to it later in case you need to clarify why funds from either deposit are required.

As a landlord, it's important to take the initiative to ensure a stable and mutually beneficial relationship with your tenants. Ferguson Moving has plenty of experience helping landlords and tenants alike, and will continue to publish helpful tips to make moving a smoother, more pleasant process for everyone.

About the Company

Established in 1916, Ferguson Moving and Storage is one of the oldest and most reputable companies in Canada. Since its inception, the company has provided clients with the best in business moving and storage services. With no hidden charges and all-inclusive quotes, Ferguson Moving and Storage takes special pride in the integrity of their business. For additional information regarding the types of services offered, please visit http://www.fergusonmoving.com or call at 604-922-2212

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