Why list with us?
Here are some issues to think about before becoming a landlord.
Lodging house licenses
The City of Waterloo Lodging House Licensing By-Law requires that any property with 4 or more lodgers obtain a permit accompanied by a license number before listing. We will not list such a property without proof of license. You may contact the Waterloo Fire Prevention office at 519-884-0900 or check out the City of Waterloo Protective Services for information regarding licensing and your accommodation.
Rent
When setting rental rates, consider the following factors: distance to campus, proximity to plaza/restaurants/convenience stores, condition of the rental unit, utilities/amenities included, season, and rent of similar units nearby.
Advertising
Once you have decided to become a landlord, you can advertise your accommodation through the Off-Campus Housing Listing Service. Here, you can fill out a New Rental Listing Form.
The charge to advertise is $25 for 28 days, and $10 to renew an active ad for an additional 28 days.
Students access this website frequently, and will contact landlords directly to make arrangements to view a dwelling. There is no "set date" that you must begin advertising.
If you are advertising a listing for co-op students, we recommend placing your ad on our Off-Campus Housing Listing Service approximately 8-10 weeks before the start of each term. Do not "bait and switch", whereby you advertise a room for rent but try to rent something else to prospective tenants.
House rules
If you're renting out a room(s) in your own home, it is a good idea to establish some house rules and outline these rules before the tenant(s) sign a contract. This is a good way to avoid misunderstandings and conflict with your tenants.
Some house rules to consider are:
- overnight guest policies
- parking
- what rooms the tenant(s) can access
- kitchen and laundry privileges
- smoking and pets
- telephone/cable and internet connections
It is also worth noting that if you (or your son or daughter) share kitchen/bathroom facilities with your tenant(s), then both you and your tenants are not covered under the Residential Tenancies Act.
Residential Tenancies Act
Ontario's Residential Tenancies Act (formerly Tenant Protection Act) gives residential landlords and tenants specific rights and obligations.
Commitment and responsibility
It is important to remember that landlords have a responsibility to be available to their tenants. “Absentee landlords” are less likely to be aware of problems and therefore cannot address concerns as easily. Landlords also need to consider time-commitment issues such as general upkeep and property maintenance (cutting grass, snow removal) that take up time as well.
University of Waterloo co-op terms
Co-op terms commence at the beginning of January, May, and September of each year. Students participating in co-op find placements all across Canada and the United States and always need somewhere to live. If you are an out of town landlord, a good time to advertise to catch these students is about 2 months before the start of each term.
Proximity to large companies
If your accommodations are situated close to major companies that are known to employ uWaterloo co-op students, you can communicate this on your ad. You can let students know what companies are nearby, and the walking/bus distance to these companies. This information can be very valuable to co-op students not familiar with your city.
Low call volume
The first thing that you need to consider is how available you are making yourself to prospective tenants. Do you have voicemail, email, or an alternate phone number where you can be reached? Secondly, you need to consider the demand for housing. Is there an over-abundance of student housing in your area? If so, you may want to consider adjusting your rent, and take care in ensuring that your accommodations are well-maintained and attractive to students.
Posting pictures
Consider posting pictures of your accommodation on your advertisement. This is often helpful to students who aren’t able to view your accommodations themselves. You can add multiple pictures to your ad before you submit it to the Off-Campus Housing Office, or, if you have already submitted your ad, you can use the URL keycode sent to you via email to access your advertisement and submit pictures.
