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  Canada Immigration Forum > About Canada > Real Estate & Mortgages > Renting home and utility bills
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Renting home and utility bills




Hi All,

First time I have planned for renting home and I have few question. I'll appriciate if experiance CD person answer my questions.

I have bought brand new home for investment purpose which is still under construction and I have plan to rent it out. Actually, I already got tenant and we signed the lease and tenant is responsible for all utility bills including rent of hot water tank.

Closing date from builder: 20th August
Tenant possession date: 1st September

I will be responsible for all utility bills from 20th August to 30th August and tenant will responsible from 1st September.

How can I ensure that all utility bills will be on tenant's name from 1st September?

Should I close my all accounts (hydro, water, gas) and tenant should open new accounts?

OR

Should I call utility companies and transfer on tenant's name? Do I need to pay any fees for transfer?

What about rent of hot water tank? (Reliance sends bill every quarter)
Can I transfer this bill on Tenant's name?


Thanks in Advance

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meitsme

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Member since: Feb 06
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Post ID: 183902 16-06-11 14:14:07
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dimple2001
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Member since: Apr 04




Posts: 2873
Location: Western Hemisphere


Legally, you can contact the utilities and have them disconnect the utilities from your name. However, as a matter of smooth transition and not to burn bridges with your tenant, you should remind the tenant to absolutely make sure they transfer the utilities in their name as of the date you wish. You can check if they have done it or not by calling the utility companies.

In reality, there might be a overlap for up to a week between you and the tenants. You cannot transfer it to the tenant's name. The tenant has to do it. The only leverage you have, in the event of a disagreement, is to disconnect the utilities and that would force the tenant to pick it up.

The tenant may have to pay a transfer fee. When you transfer it back to your name if the tenant leaves, you may end up paying transfer fee to get it back to your name.

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Post ID: 184000 19-06-11 12:45:13
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frnd
Senior Desi
Member since: May 07




Posts: 239
Location: GTA


Quote:
Originally posted by meitsme
How can I ensure that all utility bills will be on tenant's name from 1st September?


did you call the companies to inquire?

I rented a place where I paid utility. Landlord informed me to contact utility company and have things setup under my name from the date as per agreement. My guess is he already informed them to disconnect it from his name.

It was simple, no complications..

TIP: When I contacted them, i was told it is better to call at least 1 week in advance. I would/did contact them at least 10 days in advance.

good luck


 
Last edited by: frnd on 20-06-11 08:51:34
Post ID: 184018 20-06-11 08:50:09
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meitsme
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Member since: Feb 06




Posts: 474
Location:

Thanks
Thanks for your response.
It helps lot.


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Post ID: 184023 20-06-11 10:15:05
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meitsme
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Member since: Feb 06




Posts: 474
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mortgage
Also, I am thinking about 1 year Fixed mortgage rate for this investment property.

What do you suggest for investment property?

Scotiabank offers me 2.64% for 1 year fixed.
Any idea about better offer than Scotia?

Thanks,


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Post ID: 184027 20-06-11 11:17:05
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medhora
Desi
Member since: Sep 04




Posts: 64
Location: Brampton


Quote:
Originally posted by meitsme

Also, I am thinking about 1 year Fixed mortgage rate for this investment property.

What do you suggest for investment property?

Scotiabank offers me 2.64% for 1 year fixed.
Any idea about better offer than Scotia?

Thanks,




I personally am comfortable with a mortgage broker who can shop around for various institutions and give me the best rate available.


 
Post ID: 184140 23-06-11 20:45:15
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dudewheresmycar
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Member since: Jan 07




Posts: 980
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As long as it is a house,

If i remember correctly the utility companies allow different kind of setup in a landlord/tenent setup , where u are still on the utility connection but the tenant is responsible for paying the bill.

The utility company will bill the tenant directly.

I know someone who has done this in a similar situation like urs..


Call up embridge to find out more details..




 
Post ID: 184152 24-06-11 09:06:38
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Felix07Richerd
Junior Desi
Member since: Jun 11




Posts: 42
Location: Ottawa


I don't have any room meters in any property and do not have any of the troubles in my HMOs that others write about, which I think is because:

1. I have very good and considerate tenants
2. I express to the tenants in various ways that I am not miserly
3. I have factored into the rent the average historical usage of energy, gained over many years and with different properties.

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Post ID: 186776 23-08-11 03:31:15
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EmeraldTaylor
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Member since: Oct 11




Posts: 7
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I was always told it was based on percentage of square footage.

Even if you do have your office in your living room, you can count maybe 1/2 of your living room as office space. Or maybe the better way to put it is something like my living room is office space 75% of the time, so you can count 75% of that space towards the total square footage of office space. I think that is how the time comes into play, otherwise it's just straight square foot percentage.


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Post ID: 187785 01-10-11 07:35:42
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