Top 5 Mistakes Landlords Make in Waterloo—and How to Avoid Them

Managing rental properties in Waterloo is rewarding, but it’s easy to make mistakes—especially if you’re new to being a landlord. Here are five common errors we see and how to prevent them.

1. Skipping Rental Housing Licensing

• In Waterloo, most rental properties must be licensed.

• Not having one can lead to fines and tenant complaints.
  ✅ Solution: Always verify if your unit requires a license and renew it annually.

2. Poor Tenant Screening

• Rushing the tenant selection process can result in unpaid rent, damages, or eviction.
  ✅ Solution: Use a structured application, verify employment, and run credit checks.

3. Improper Rent Increases

• Increasing rent without following the proper procedures is a top complaint at the LTB.
  ✅ Solution: Know the guidelines and use approved forms (we can do it for you).

4. Neglecting Maintenance

• A leaky faucet today could be a flooded unit tomorrow.
  ✅ Solution: Schedule regular property inspections and respond quickly to tenant issues.

5. Failing to Keep Proper Records

• Not tracking rent payments or communication can hurt you in disputes.
  ✅ Solution: Use property management software or work with a professional company.

Want to avoid these headaches? Let us manage your property with care and compliance.