What is the difference between a fixed-term tenancy and a lease?
A fixed-term tenancy has a start date and an end date. On the end date, the tenant must vacate the property. A lease is for a specified term; on its expiry date the tenant is not required to move out and the agreement automatically reverts to a month-to-month tenancy, or renegotiated for a period of time.
What is your screening process when selecting a tenant?
Ascent provides potential tenants with a concise application form that requests information such as previous rental references, place of employment and credit information. We then process a credit check and confirm rental and employment references. Once we have assembled this information an approval decision is made.
How do you determine what my unit should rent for?
We first view the property to evaluate its condition, square footage, area, bedrooms and bathrooms, laundry and parking. Once these factors are documented, we cross-reference your property with similar properties in our rental portfolio, as well as with current market rates and vacancies. Based on this information, we set an appropriate rental income estimate.
How often do the property managers inspect the units?
Ascent provides an option to have your unit inspected by a Third Party Contractor, every 30, 60, 90, or 120 days.
Am I expected to carry insurance on my unit even though it is tenanted? Are tenants required to carry insurance?
Owners are expected to maintain insurance on their properties, even if tenanted. In addition, tenants are asked to insure their belongings and maintain liability insurance. While we strongly recommend all tenants carry insurance, this request cannot be enforced by law.