Tips For First-Time Land lords To Avoid Headache!

Rental properties can be an excellent source of steady income, helping to cover mortgage costs and even grow your investment portfolio. But let’s be real—being a landlord is not a passive job. From unexpected maintenance issues to tricky tenants and legal requirements, it comes with its fair share of challenges.

If you’re thinking of renting out your first property in Calgary, it’s crucial to go in prepared. At LeaseWell, we’ve seen firsthand how a few smart decisions early on can save new landlords a world of stress down the road.

Here are our top tips to help you start strong—and stay headache-free.

1. Treat Your Rental Like a Business

This is rule #1: Once you become a landlord, you’re running a business. That means keeping good records, staying on top of expenses, and making decisions based on numbers—not emotions.

✅ Create a budget for repairs, taxes, insurance, and vacancies

✅ Keep separate bank accounts for your rental income and expenses

✅ Have a clear plan for how you’ll manage the property day-to-day

💼 Tip: If you’re busy or don’t live nearby, consider hiring a property management company like LeaseWell to handle the day-to-day operations.

2. Screen Tenants Thoroughly

Your tenant can either make your rental experience smooth—or a total nightmare. Avoid future issues by screening applicants carefully. Look for:

• Good credit history

• Stable employment and income

• Positive references from previous landlords

• Clean background check

And never skip the lease! A detailed rental agreement protects both you and your tenant by clearly laying out the rules.

3. Know Your Legal Responsibilities

As a landlord in Alberta, you’re responsible for following the Residential Tenancies Act. That includes:

• Handling security deposits correctly

• Giving proper notice before entering the property

• Making timely repairs

• Respecting tenant rights

  
  

Not following the law—even accidentally—can result in fines or disputes. If you’re unsure, consult an expert or partner with a property management company that knows the rules inside and out.

4. Stay on Top of Maintenance

Little issues can turn into big problems fast. Make sure to:

• Respond to repair requests promptly

• Schedule preventative maintenance (e.g. furnace checks, plumbing inspections)

• Keep the property safe and habitable at all times

Happy tenants are more likely to stay longer—and take better care of the property.

🔧 LeaseWell offers 24/7 online service requests and preventative maintenance scheduling to keep your rental running smoothly.

5. Keep Communication Clear & Professional

Establish clear lines of communication with your tenants from day one. Be friendly, but firm—and always keep things in writing when it comes to lease terms, notices, or agreements. Having a professional tone helps you avoid misunderstandings and maintain healthy landlord-tenant relationships.

6. Plan for Vacancies and Unexpected Costs

Even the best rental properties experience downtime. Budget at least 1-2 months per year for potential vacancies or turnover. Also set aside a reserve fund for emergency repairs—like a broken furnace or water leak.

Having this buffer keeps your cash flow stable and your stress levels low.

7. Consider Professional Property Management

If managing tenants, maintenance, and marketing sounds overwhelming (or you just don’t have the time), hiring a reliable property management company can be a game-changer.

At LeaseWell, we take care of everything—from tenant placement and rent collection to 24/7 support and property upkeep. You get peace of mind and a better return on your investment.

Final Thoughts

Becoming a landlord is a smart way to build wealth—but like any business, it takes planning, knowledge, and the right support system.

With these tips and a proactive approach, you’ll avoid common pitfalls and set yourself up for long-term success. And if you need a hand managing the details?

👉 LeaseWell is here to help Calgary’s first-time landlords become confident property owners—without the headaches.