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Hi. Today Im going to be covering a question that we get a lot from our investors, almost every single time we send out a lease renewal, which is: Do you need to send out a lease renewal? Im trying to sell the property or I dont like the tenants, I dont want you to send out a renewal. The answer is, we always send out a lease renewal, and the reason for that is every tenant under the Residential Tenancies Act must receive a lease renewal. They have to receive it at three months prior to the ending date of the lease and were allowed to give a rental increase as mandated - a small percentage, by the government each year. If we dont give that lease renewal, number one: You cant take advantage of that rental increase. Number two: For any tenant that doesnt receive a lease renewal, the term actually renews for another term, so if its a year, they get another year. However, they can then choose to give one rental pay period notice after that. So, if we had a lease that was runni
