First, let’s start off with what a landlord is. A landlord is any person who owns a property and rents it out to someone else.
Landlords have certain obligations within the condo corporation that are vital to the smooth operation of the organization. As per legislation in Alberta, landlords must inform the condo corporation of their intent to rent their unit out, provide the name and contact information of the tenant within 20 days of possession, submit a common property damage deposit to the condo corporation (if required by the condo corporation), and give notice when tenant moves out.
Other responsibilities of an owner acting as a landlord include: having insurance and a signed rental agreement in force, conducting a thorough and fair move-in and move-out inspection with the tenant, ensuring the unit or property is well-maintained, and that faucets, drains, windows, heat, appliances and smoke detectors work properly.
If a unit is vacant for a time, it is necessary that the owner inspect the premises on a regular basis. A condo corporation may have a policy in place for how often that must occur, but the owner should be aware of how often their insurance company requires this to keep the policy valid.
It’s important that owners understand and honour their role within the condo corporation. They are ultimately responsible for any tenants and guests that come onto the property. This includes damage caused in common areas of the building. Unfortunately, many owners purchase condo units without conducting the proper due diligence. Condo ownership is very different from owning a private home, but the rules around being a landlord are the same, regardless of what type of ownership it is.