Yes, a standard lease agreement is required to be signed by the landlord and tenant.
Security deposits are typically ½ month’s rent. Collected deposits are to held and then returned to tenants with 0% interest within 10 days of the lease end. If the entire deposit or a portion of it is to be retained, the landlord must complete the required paperwork at the residential tenancies office.
3 months prior to the anniversary date, notice to terminate the lease by either the tenant or landlord is required. If no notice is given then the lease automatically renews for another year.
A tenant can change their lease to a month-to month tenancy if they provide notice to the landlord 3 months prior to the anniversary date and is subject to landlord approval.
In general, there are no rent controls in Nova Scotia. Landlords set rental rates for their units. Rent is allowed to be increased once every 12 months and landlords must provide a written notice to the tenant 4 months prior to the lease anniversary date.
Access Nova Scotia’s Residential Tenancies Program publishes an Annual Allowable Rent Increase Amount (AARIA) which landlords are required to refer to when increasing rent.
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The best way to get your property listed with True Acre, find the best tenants and reduce vacancies is by contacting us at email@example.com or by visiting the Contact Us page and submitting a request.
In addition to comparing the property to your minimum requirement and wish lists, you may want to consider the following:
Take your time and think carefully about the property you are considering. Ask your True Acre associate for pros, cons and their honest, professional standpoint. Creating a list of questions, concerns or requirements before visiting the property will help make you feel comfortable and informed.