Hello Suite Owner!
Welcome to the Sage Living Standard Service Package. You can review the information on this page and learn how each month has been scheduled while within Sage Standard Services.
The Service Agreement
Click the link provided to review a copy of the Standard Service Agreement.
Payment Schedule
Click one of the links provided to review a copy of the payment schedule.
Please note this payment schedule may differ based on you Tenant’s choice to:
If you are scheduled to receive a new lease
If the Tenant will continue / renew their lease after the first 12-months
If the Tenant will use a Guarantor or Guarantor Fund
Please follow the flow chart provided below and review the information provided by Sage Living / the Tenant to determine your most accurate payment schedule. Your payment schedule may change should the details of the lease agreement change.
Sage Living office will communicate if the Tenant used a Guarantor Fund as part of their lease agreement. Please use the proper link below based on this information. It is unlikely you will know if the Tenant will continue or terminate their lease after the first year until December 15th of each year.
Lease Requirements
Want to know how we review leases and secure Tenants - here is a list of all the items we collect or assist with related to the lease agreement.
Leases In Use
Our office will currently use a minimum 12-month to maximum 3-year lease term.
The lease agreement will include an 8-month notice requirement where the Tenant must provide a notice of termination by December 15th of each year to cancel for the following termination date.
Example:
If the lease was signed for September 1, 2022
The lease would end August 27, 2025 maximum
The Tenant can choose to provide notice of termination by December 15, 2022 to terminate the lease for August 27, 2023
The Tenant can choose to provide notice of termination by December 15, 2023 to terminate the lease for August 27, 2024
The Tenant can choose to provide notice of termination by December 15, 2024 to terminate the lease for august 27, 2025
Should the Tenant continue past the three year term, it would be valid as per provincial regulation and the lease would become a month-to-month lease structure. This would provide the Tenant with the ability to cancel by giving 60-days notice.
Should the Tenant not provide notice as outlined above (dates may differ and can be found on the lease agreement, but 8-month notice period remains the same), then the lease will continue until the next time the Tenant can provide a termination notice.
Guarantors
Guarantors are essentially a cosigner for the Tenant. They must be above the age of 25, full time employed, and earn a gross annual income that meets the financial requirements of the lease.
The Guarantor is required to have a gross annual income level where the gross annual rent is less than or equal to 30% of the Guarantor’s gross annual income. Signing as a Guarantor will tie the Guarantor to the lease agreement.
Guarantor Funds
Guarantor Funds are only used when a Tenant cannot provide a Guarantor. Typically this is reserved for exchange students who simply cannot locate someone who meets the requirements of a Guarantor.
The Guarantor fund is not something which is supported by the Residential Tenancies Act or the Landlord and Tenant Board. Should a Tenant request the Suite Owner refund or return the Guarantor Fund, the Suite Owner must issue the refund as requested by the Tenant.
A Guarantor Fund is simply two additional months of rent collected in advance of the lease start date. These pre-paid months of rent CANNOT be used by the Suite Owner for any other purpose than future rent. The Owner cannot deduct damages or any other cost from the Guarantor Fund. The Guarantor Fund is intended to be applied to the second and third last months of the Tenant’s lease.
As Guarantor Funds are simply pre-paid rent, Sage Living will apply the monthly % fee to these prepayments.
Last Month Rent Deposit
This is the only rent deposit which can be collected prior to the lease start date which is supported by the Residential Tenancies Act and Landlord and Tenant Board. This is simply the collection 1-month’s rent to be held by the Owner and credited towards the lease agreement’s last month of rent.
Key Deposits
Key deposits must be made refundable to the Tenant and cannot cost more than the value of the keys and the labour needed to program and/or cut the key set.
The Sage Living Rental Office will use a standard $200 key deposits. These deposits will be provided to the Suite Owner and the Suite Owner will be required to refund this amount to the Tenant once the keys have been returned.
Payment Method
Our office will provide the Tenant with multiple payment methods so the Tenant can complete monthly rent. Scheduling the monthly rent payments is a requirement within the lease agreement.
The Tenant must inform our office and provide documents to support the type of monthly payment they will be completing. Tenants can pay by post dated cheque, pre-authorized debit, or online via their Tenant portal provided by Sage Living.
Nearly 100% of all Tenants will rely on the Tenant portal provided by Sage Living to complete online payments each month.
Communicating With Your Tenant
Prior to the lease start date, your Tenant will receive your contact information and you will receive their contact information.
The Tenant will be directed by Sage Living to contact the Suite Owner for all maintenance or similar concerns. As part of the Standard Service, the Suite Owner will then directly assist and complete the work as requested by the Tenant to the Suite Owner without the assistance of Sage Living.
Communication Flow Found Below:
As part of this communication flow, we do recommend all Owners be sure to communicate items or requests as supported by the Residential Tenancies Act and the province of Ontario.
To learn more about the Residential Tenancies Act: Click Here
To learn more about the Landlord and Tenant Board: Click Here
Move-In / Out Services
Move-in / out services are only required and offered to Suite Owners who have communicated they require a new lease agreement or a Tenant is vacating their suite.
These services will include:
Locating and entering into an agreement with various cleaning contractors and/or subcontractors to schedule cleaning for all suites in need (several hundred)
Cleaning contracts will require all suites be cleaned between August 27th to September 1st. This normally requires 24 hour cleaning services to complete all suites in need
Cleaning is now billed hourly by the cleaners. There is no way to estimate the cost of cleaning at this time as will largely be based on the condition of the suite when the cleaners enter
Sage will also contact the current tenants to provide instructions on returning keys
Sage will provide an opportunity for the tenants to return their key sets as instructed where the returned keys will be counted, documented and resorted for the next tenants
Sage will work to coordinate the movement of current sage tenants who are living in a sage suite but moving to another sage suite
Sage will also contact the incoming tenant and provide move-in instructions including where, when and how to pick up keys
Sage will provide the new tenant with access to a move-in deficiency forms where the new tenant can note deficient or damaged items
The info gathered here will be forwarded to our office where emergency items such as damaged beds, doors, or other such safety measures which would legally cancel or delay the lease must be instantly addressed. This way the lease is maintained and the property accepted by the Tenant
All info on the deficiency form including the emergency items will then be forwarded to the suite owner where the suite owner will have the ability to address the non-emergency items themselves and coordinate such repairs or items as they see fit without the direct assistance of Sage Living
Any cost for emergency services will be forwarded to the owner, but again, these are only items which would provide the Tenant an opportunity to reject the property and/or lease agreement (beds, broken locking doors, flood, fire, etc - basic safety/housing requirements. Beds are a requirement as included within the lease and must be maintained to provide what the RTA considers 'reasonable enjoyment' of the suite)
Monthly Schedule
Here is a quick review of what you can expect to happen each month when a new lease has been secured.
Below we’re listed each month from ‘month-1’ to ‘month-13’.
Month-1 is considered the first month of the new lease.
Month-1
Your new lease has started
Your new Tenant has moved into the suite
You have received your Tenant’s contact information and lease agreement by this time
Rent for Month-1 is not provided to the Owner during this month. The value of 1-month’s rent will be applied to the Owner’s account as a rental fee for securing the new lease
The Suite Owner may receive 2-months of rent pre-paid by the Tenant as this time should the Tenant have used a Guarantor Fund rather than a Guarantor. This amount is to be held by the Suite Owner and applied against the rent for the second and third last months of the lease agreement. More information on the Guarantor Fund can be found within the ‘Lease Requirements’ section of this page
Your Tenant also has your contact information and may message or call you to request assistance with repairs
You can begin coordination of these repairs and contact the previous Tenant for payment if supported by the Landlord and Tenant Board
Sage Living will begin collecting new rental leads for all suite types for the following rental season
Month-2
You may want to begin reminding your Tenant about their December 15th renewal / termination deadline within their lease agreement
Sage Living will send reminders to the Owner and Tenant which will also remind the Tenant of this deadline
The Suite Owner will receive the rent collected during Month-1
Sage Living will deduct additional cleaning cost, move-in coordination cost, and other various similar items as needed from the rent provided to the Owner during this month
Sage Living will continue to collect new rental leads for all suite types for the following rental season
Month-3
You may want to continue to remind your Tenant about the December 15th renewal / termination deadline within their lease agreement
Sage Living will send reminders to the Owner and the Tenant which will also remind the Tenant of this deadline
The Suite Owner will receive the rent collected during Month-2
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will deduct additional costs similar to Month-2 if applicable
Sage Living will continue to collect new rental leads for all suite types for the following rental season
Month-4
For many Owners, this month typically lands on December. The Owner should remind the Tenant of the December 15th renewal / termination deadline within their lease agreement
Sage Living will send reminders to the Owner and the Tenant which will also remind the Tenant of this deadline
Should the Tenant not reply or communicate that they will renew the lease, then the lease will continue for an additional 12-month period starting Month-13
Should the Tenant communicate their intention to terminate the lease, then the lease will be terminated at the end of Month-12
The Suite Owner will receive the rent collected during Month-3
Sage Living will deduct the monthly % fee from the rent collected
Sage Living may remind the Suite Owner that now is a good time to coordinate the replacement of their air filter within the suite
Sage Living will continue to collect new rental leads for all suite types for the following rental season
Month-5
Should the Tenant have communicated their intention to terminate, and should the Owner require a new lease, the Owner can then approach Sage Living to begin rental efforts for their suite
Sage Living will message the Suite Owner asking about their Tenant’s decision to renew or terminate and if a new lease is required for the suite
Sage Living will message the Suite Owner asking if they would like to continue or alter their service package for the following 12-month term
The Suite Owner will receive the rent collected during Month-4
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will begin to secure leases for available suites
Month-6
If a new lease is required, please contact Sage Living to coordinate
Sage Living will message the Suite Owner asking about their Tenant’s decision to renew or terminate and if a new lease is required for the suite
Sage Living will message the Suite Owner asking if they would like to continue or alter their service package for the following 12-month term
The Suite Owner will receive the rent collected during Month-5
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will continue to secure leases for available suites
Month-7
If a new lease is required, please contact Sage Living to coordinate
Sage Living will message the Suite Owner asking about their Tenant’s decision to renew or terminate and if a new lease is required for the suite
Sage Living will message the Suite Owner asking if they would like to continue or alter their service package for the following 12-month term
The Suite Owner will receive the rent collected during Month-6
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will continue to secure leases for available suites
Month-8
Sage Living will begin preparing for the next move-in cycle
If a new lease has been requested / has been secured, then the Suite Owner will receive a copy as soon as it has been approved by the Sage Living Office
Sage Living will begin to contact Owners to review their needs for move-in/out if a new lease has been secured
If no new lease required or secured, then no additional information will be sent by Sage Living to the Suite Owner
The Suite Owner will receive the rent collected during Month-7
Sage Living will deduct the monthly % fee from the rent collected
Sage Living may remind the Suite Owner that now is a good time to coordinate the replacement of their air filter within the suite
Sage Living will continue to secure leases for available suites
Month-9
Sage Living will continue to prepare for the next move-in cycle
If a new lease has been requested / has been secured, then the Suite Owner will receive a copy as soon as it has been approved by the Sage Living Office
Sage Living will continue to contact Owners to review their needs for move-in/out if a new lease has been secured
The Suite Owner will receive the rent collected during Month-8
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will continue to secure leases for available suites
Month-10
Sage Living will continue to prepare for the next move-in cycle
If a new lease has been requested / has been secured, then the Suite Owner will receive a copy as soon as it has been approved by the Sage Living Office
Sage Living will continue to contact Owners to review their needs for move-in/out if a new lease has been secured
The Suite Owner will receive the rent collected during Month-9
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will continue to secure leases for available suites
SPECIAL NOTE: If your Tenant is terminating the lease and if they used a Guarantor Fund, then no rent will be collected by Sage Living during this month. The Owner must offset this cost by using one of the two months provided within the Guarantor Fund. More information on the Guarantor Fund can be found within the ‘Lease Requirements’ portion of this page
Month-11
Sage Living will continue to prepare for the next move-in cycle
If a new lease has been requested / has been secured, then the Suite Owner will receive a copy as soon as it has been approved by the Sage Living Office
Sage Living will continue to contact Owners to review their needs for move-in/out if a new lease has been secured
The Suite Owner will receive the rent collected during Month-10
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will continue to secure leases for available suites
SPECIAL NOTE: If your Tenant is terminating the lease and if they used a Guarantor Fund, then no rent will be collected by Sage Living during this month. The Owner must offset this cost by using one of the two months provided within the Guarantor Fund. More information on the Guarantor Fund can be found within the ‘Lease Requirements’ portion of this page
Month-12
Sage Living will continue to prepare for the next move-in cycle
If a new lease has been requested / has been secured, then the Suite Owner will receive a copy as soon as it has been approved by the Sage Living Office
Sage Living will continue to contact Owners to review their needs for move-in/out if a new lease has been secured
The Suite Owner will receive the rent collected during Month-11
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will continue to secure leases for available suites
Month-13
This will only apply to those Suite Owners who have renewing Tenants
The tenant will continue to live in the suite and pay rent as normal
The Suite Owner will receive the rent collected during Month-12
Sage Living will deduct the monthly % fee from the rent collected
Sage Living will begin collecting new rental leads for all suite types for the following rental season