8 Essential Tips for First-Time Landlords
Renting your investment property for the first-time? It pays to be prepared.
Being a landlord is not always easy—it involves time (tenant search), money (maintenance + repairs), and plenty of patience. The good news? You can benefit from lessons learned from a veteran property manager.
Birds Nest Properties’ CEO and managing broker Jonathan Low has a 20-year history taking care of residential rental properties in Vancouver and its surrounding areas. Below, he shares the eight tips every new landlord should know to secure a positive—and profitable—experience.
1. Attract quality tenants with a well-maintained property
“A good landlord attracts good tenants,” says Jonathan. As a landlord you’re responsible for wear-and-tear repairs in-between tenancies. This means routine maintenance projects like grout cleaning, leaky faucet fixes, and roof repairs. Keeping your property in top condition will make it stand out for quality candidates.
2. Take a long-term view to renovations
Sometimes a handful of upgrades are all that’s needed to boost the value of your investment—and a rent rate that offsets renovation costs over time. “This is especially true with updated kitchen appliances and countertops, and a new in-suite laundry washer/dryer,” adds Jonathan.
3. Make things easy to understand
A written tenancy agreement helps both parties understand their roles and responsibilities—and is a requirement of the BC Residential Tenancy Act. “Having things in writing makes things so much easier,” says Jonathan referring to the lease, which outlines rent rate and renewal terms, pet restrictions (if any), and, in the case of duplex/single-family homes, who is responsible for exterior maintenance, like yard work.
4. Do your homework (check references)
A reference check will help you determine if a prospective tenant is reliable—and save you headaches later on. “For a thorough screening, ask for references from a previous landlord and income verification from an employer,” says Jonathan. “Can the previous landlord confirm regular rent payments? Can the employer verify their salary?”
5. Require tenant insurance
Tenants should secure their own protection, in the event of accidents, disasters, or break-ins. “Tenant insurance is fairly inexpensive and covers piece of mind—along with contents, liability, and additional living expenses resulting from an insurance claim,” says Jonathan.
6. Don’t forget landlord insurance
“Adequate landlord insurance coverage is more important than ever since water damage deductibles for strata buildings have skyrocketed in recent years,” Jonathan says. Check to see that your landlord insurance policy covers the strata insurance policy deductibles, and includes sufficient limits for liability and loss of rental income.
7. Know the rules
Keep up-to-date on the laws that rule tenancies. Adds Jonathan, “This is an ongoing education—there’s always something new every year: from empty homes and vacancy tax declaration requirements, to Residential Tenancy Act updates that affect rent rate, notice periods, and deposit interest.” An understanding of the rules—and landlord and tenant rights, like landlord’s right to entry, inspections, and security deposits—helps make for a smooth tenancy.
8. Consider hiring a property manager
Property managers are there to service the owners’ needs—be it finding a tenant, solving for repairs, or handling a dispute. “They really do see it all,” says Jonathan, referring to people and property challenges. “In most cases, they develop strong relationships with their placed tenants over time to ensure both tenants and owners are happy. And they have a network of trusted trades to deal with repairs.
“It can be a time-saver (and stress-reliever) to hire someone to take on your property.”
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Read more Birds Nest Properties Landlord Guides:
Key BC Tenancy Rules at a Glance – What Landlords Should Know in 2025
2025 Canada Underused Housing Tax – Everything You Need To Know
2025 Vancouver Empty Homes Tax – Everything You Need To Know
2025 BC Speculation and Vacancy Tax – Everything You Need To Know
Furnished vs Unfurnished: What’s the Best Choice for Your Rental Property?
Understanding Vancouver Property Management Fees
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Birds Nest Properties is a leading rental property management company that specializes in serving owners of condos, houses, and apartment buildings in and around Vancouver.
We take care of everything, so you don’t have to. Our comprehensive service gives you a stress-free experience as a rental property owner.
Thinking about renting out your property?
Call us 604.260.9955 or fill out our Contact Form to learn more.