So You Bought a Rental… Now What?

# Congratulations, You’re Officially a Landlord: A Guide to Survival

Cue the mild panic. Buying rental property is the easy part. Now comes the fun — and by fun, we mean the endless list of things no one told you about during your YouTube-fueled investing binge.

Here’s your unofficial, unsponsored, and slightly sarcastic guide to getting your rental ready without losing your mind (or your damage deposit).

1. Utilities & Paperwork: Welcome to Adulting

Before anything else, transfer the utilities out of the previous owner’s name and into yours (or better yet, your tenant’s). You’ll also need a lease agreement — yes, we’ve got a free one in the [Toolbox] — and proof of insurance, because life happens.

Pro tip: Call the town office. They're usually weirdly nice and helpful.

2. Find a Tenant (That Won’t Haunt Your Dreams)

Tenant screening isn’t just a buzzword. It’s your only defense against a six-month saga featuring unpaid rent and surprise pets.

We’ve got screening checklists, interview questions, and even a full [Tenant Law Bootcamp] course. It’s free. No catch. Just don’t rent to your cousin unless you want family drama mixed with property management.

3. Know the Law or Get Schooled by It

Alberta has rules. Lots of them. From how much you can charge for a deposit to how (and when) to evict a tenant. Being ignorant won’t save you in front of the RTDRS.

Our blog and courses break down the laws so you’re not stuck Googling “Can I enter my rental if the tenant has a pet ferret?” at 2 AM.

4. Track Everything or Cry Later

Keep a record of income, expenses, maintenance, and lease dates. Future you will thank you when tax season arrives or when your tenant swears they totally told you about that broken toilet three months ago.

Check out our [Toolbox] for trackers that do all the math for you.

Tool Box Link Here

5. Get Connected, Stay Sane

You’re not alone. Join our free community of Alberta landlords swapping stories, advice, and the occasional vent post. It’s like therapy, but for rental property owners.

6. Maintenance: The Landlord's Lifeline

Everything breaks eventually. Whether it’s a leaky faucet or a broken heating system, maintenance is essential. Schedule regular inspections to ensure everything is working properly.

Consider hiring a property management company if you feel overwhelmed. It’s an investment that can save you time and headaches.

7. Communication is Key

Establish clear communication with your tenants. Remember, friendly but professional is the way to go. Address their concerns promptly to foster a positive relationship and keep your stress levels low.

8. Screening Tenants: More than Just a Background Check

Tenant screening is more than running a background check. You should verify their employment, income, and even previous landlord references. This will give you peace of mind and protect your investment.

Final Thoughts

Landlording isn’t rocket science, but it’s definitely not “set it and forget it.” With the right tools, a little know-how, and a thick skin, you’ll do just fine. Welcome to the club.

Let’s make this whole landlord thing a little less painful — and maybe even profitable.

Remember the phrase "buying rental property" — it’s a journey filled with challenges, but also rewards. Enjoy the ride!