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Commencement Day!

Adam has learned that there are many resources available on the Service Alberta website at, including a Security Deposit Interest Calculator, and a Table of Yearly Interest Rates on Security Deposits.

Commencement Day!

Adam receives all the documents from the previous management, including the tenant files and rent roll.  He reviews the files and discovers the following information about his new tenants:

Suite #1  Is rented to a senior male, collecting pension, who has been living in this suite for 20 years.  He is on a month-to-month periodic tenancy.  He pays his rent on time and there have been no issues with his tenancy.

Suite #2   Is rented to a married couple with one child who is preschool age.  The husband works full time, and the wife works part time evenings and weekends.  They just renewed their lease with the previous manager for an 18 month fixed term at a rate that is $75 per month lower than the other two bedrooms.  They have been there three years and it appears that the rent was not increased to market when they were offered the renewal.  They pay the rent on time and there have been no issues with their tenancy.

Suite #3  Is rented to a long-haul truck driver.  He has been late on rent only a couple times over his seven year tenure, and he is on a periodic monthly agreement.

Suite #4  Is rented to roommates.  There is a record of two noise complaints on the file and they were advised to clean up their suite on one occasion.  There have been problems with them parking their vehicles in visitor parking.  They are on their first fixed term agreement which is for six months.

Suite #5  Is rented to a single mother who works full time in an office doing administration while raising her seven year old son.  She also has a boyfriend of questionable character who does not live at Smart Apartments.

Suite #6  Is rented to a younger single male who works seasonal jobs.  There is a history of regular rent collection problems, but he always pays in the end.

A notice has been sent to the tenants by the previous manager about the change in ownership and management.  Adam goes to the property on the first of the month and posts his notice of landlord and cleans the common areas.  He then proceeds to the rent drop-box to receive his first rent payments.  Adam is very excited!  He retrieves rent cheques for suites 1, 2, 3 and 4.  There is a notice to vacate from the senior in suite 1, and a note from the truck driver in suite 3 that there is a musty smell in his suite.  There are no rent payments in the box from suites 5 and 6.

Let’s follow Adam’s experience with each of these tenancies as they play out….


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