5 Legal Tasks You Should Do Before Moving to Your New Edmonton Home
As your Accredited Buyer’s Representative (ABR®), I'm always here to help.
The Internet is full of checklists and resources to use if you are planning the move. There are definite packing timelines & there are lists with packing supplies. There are even directions on how to pack boxes properly! Moving is MUCH more than purging and organizing your personal things. There are legal tasks you need to also take care of. Here are 5 legal tasks you should complete before your move:
- Read your lease: Review your current lease to make sure you won't get into trouble for leaving early. You are responsible for paying rent for the entire lease term, even if you have vacated the property. If you need to move before the lease term is expired, read the lease to see if you can sublet or assign a new tenant. Check your new lease for these terms before you sign it and make sure you complete these tasks to protect your rights as a tenant. This mistake can cause lots of grief and loss of money.
- Protect yourself with insurance: Thoroughly read any contract with a moving company before you sign it for delivery times and insurance coverage. Reputable moving companies are required to provide some moving insurance but you should purchasing more. You should also consider stopping renter's insurance (if applicable) & start homeowner's insurance for your new home.
- Notify your creditors: Update your address with all of your bills to ensure you do not miss a payment. Bank accounts, car loans, RRSP & other savings comes to mind (heck, many years ago, I forgot to transfer my new address for my GIC's). Also be sure to complete a change of address with Canada Post and request your mail be forwarded to your new address. Rates are reasonable and you will thank yourself.
- Keep receipts if relocating/transferring for a new job position: You may be able to write off your expenses if you are required to relocate more than 50 kilometres due to a job change. Review Revenue Canada's requirements to qualify for this tax break or better yet, ask your accountant
- Update your estate plan: Provincial laws governing wills and estate plans differ. If you move to a different province, update your estate plan. Your family will thank you & just seems the right thing to do.
Can you think of anything else to add? If so, please contact us or call direct Mike at 780-242-5229 or Audrey at 780-910-5179