What could be better than an extended vacation overseas, at the family cabin, or exploring our great country?  How about an extended vacation partially funded by renting out your condominium?  This can be an excellent option, especially if your community is a popular tourist destination.  However, before you advertise your rental, check with your strata association.

Each condominium complex has a strata or homeowners’ association with unique rules.  Begin by confirming whether your complex allows rentals and for what length of time.  The association may also have rules governing the age of residents (e.g., 55+) and prohibiting pets.  These rules will also apply to your renters.

Next, check with your insurance company about coverage while renting.  Be sure you will be protected in the event of a personal injury, fire, flood, theft, etc.  Some insurance agencies also recognize the benefit of renting; thieves are less likely to target an occupied home compared to one that is empty for the summer.

When it comes to safeguarding your belongings, move all your valuables to a secure storage location.  For the remaining valuables such as a television, stereo, etc., create a detailed checklist including the condition, model and brand.  This list should become part of the lease agreement with both parties signing off on the items included for use in the rental.   

If finding a renter and creating a leasing agreement seem a bit daunting, some property management companies will help owners with short-term rentals.  They charge a fee to interview potential renters, collect rent and monitor your property while you are away.

Fortunately, most renters are happy to find a place where they can feel at home without paying pricey hotel bills.  A summertime condo rental can benefit everyone!

As summer temperatures rise, so does the cost of cooling a home.  Depending on the size and type of home, appliances and other factors, those bills can be substantial.  Don’t sweat it this summer!  Consider these affordable ways to keep cool.

Reduce heat-producing activities: 

• Humidity makes air feel warmer so turn on ventilating fans when cooking and showering.
• Wait until the cooler parts of the day to use appliances such as ovens and dishwashers.
• Hang your clothes to dry outdoors rather than using a clothes dryer.
• Close drapes and blinds during the hottest times of the day to prevent up to 65 percent of heat gain through your windows.
• Switch to cooler florescent bulbs that use approximately 75 percent less energy and last longer than incandescent light bulbs.

Landscape and renovate to lower the indoor temperature: 

• Upgrade attic insulation to prevent heat from passing from the attic into the living spaces below. 
• Choose light-coloured roof tiles or paint your roof with white or reflective paint, depending on the material.
• Plant deciduous trees (e.g., maple) or vines on a trellis to provide shade and keep your home approximately 4° C cooler on hot days.
• Install awnings on south-facing windows.

 Other cool tips: 

• Use fans to circulate the air in your home.  Set ceiling fans to run counter clockwise.
• Lamps, televisions and other appliances in close proximity to thermostats can create false readings that keep your air conditioner running longer than necessary. 
• Adjust your schedule so that you avoid using south and west-facing rooms at the hottest times of the day.  

 This summer, the only thing that should be sizzling is what’s cooking on the barbeque!