Investing in condos often involves early assignment or renting out after closing. To avoid issues like tenants overstaying or utility arrears when leases expire, consider these tips when your condo lease expires:

What Landlords Should Do:

1. Lease Termination: Confirm non-renewal with the tenant at least 60 days prior and sign the N11 form (Agreement to End the Tenancy).
2. Inspection: Check appliances for damage, document, and communicate for claims.
3. Key Return: Verify returned keys are functional; deduct deposit if there are any issues.
4. Utilities: Ensure no outstanding utility bills by requesting the tenant’s payment history or contacting the utility company.

Tenant Requirements:

• Clean thoroughly and remove all belongings.
• Return keys and ensure they work, or face key deposit deductions.

For JDL clients, we provide reminders and assistance with lease termination and re-renting three months in advance to minimize vacancies.

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