Baby Landlord’s First Steps

We purchased our dream house at the end of September 2017. We knew that in order to keep that house we needed to get a tenant in ASAP. After discussing whether we would manage the property out of province or hire a property management company we decided to manage it ourselves, I mean really, how hard could it be? All we needed to do was stick a fabulous tenant in there and watch the rent roll in. Due to the distance between the house, and us, we thought it would be wise to hire a real estate agent to place the tenant and then we would take over managing. The company we chose is amazing, very attentive; great references and they were able to get an ad up on real estate websites, rental sites and craigslist within just a couple days. After two weeks on the rental market we had a solid lead on a tenant, lets call her Laura, a lovely elderly woman that was hoping for her own space closer to her children and grandchildren. Laura, what a dream tenant she could be, a single, elderly woman that just wants to have her own space closer to her family when she comes to visit. We signed the lease with Laura for one year, her daughter Stacey helped her move into the property and get her belongings set up. The house, although in need of a little work, has amazing bones and so much charm it could melt your heart. The house has been loved since it was built with the timber logged from the lot it stands on. The heating, electrical and water all work well, so what could go wrong? EVERYTHING let me tell you, everything could go wrong!