I'm so sorry about you losing your job. Sometimes when things like this happen, it ends up pushing you toward bigger and better things.
You might feel upset thinking of yourself as unemployed at the moment. Instead, think of yourself as self-employed. You now work for yourself, and your job is to look for a job. Or, you can become an entrepreneur and stay self-employed.
Your landlord doesn't want to loose your income almost as bad as you. So let him know early. Your property manager can be a huge help. On the other hand, if you leave him in the dark for as long as possible and call him up to inform him you intend to break the landlord tenant act in addition to the lease commitment. What choices have you left him?
The following is a recommended step by step plan for dealing with job loss. We sincerely hope it makes your transitions easier.
The first thing you need to ask your self is
A. What facets of this situation can I potentially influence?
B. Where and how can I step up to get the most immediate traction?
C. What can I do to minimize the potential downside? Maximize the upside?
D. How do I get past this as quickly as possible?
Recommended Steps
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Call your Property Manager/Landlord. We are here to help you solve your problem. You just have to keep the lines of communication open!
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Take steps to replace your job (in the meantime there are plenty of places you can bring in money. For example: offering online services on www.Etsy.com or www.UpWork.com handyman services, or any other skills you can offer locally) Also there are government services such as Unemployment Insurance. www.servicecanada.gc.ca/eng/ei/application/applying_for_benefits.shtml
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You probably know someone who is hiring. We once had two fellows that lost their construction job. They waited for the last moment to tell us and severely limited our options. I was building a house and needed help at the time and would have hired them forsure.
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If you feel that this situation is temporary don't forget that you are able to make your rent payment by credit card (Call the Property Manager to set it up)
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We can help you find a roommate. There are many wonderful websites dedicated to it.
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If there is storage space on the property we may be able to find someone to rent it.
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Reduce and/or Eliminate luxury expenses (ie: cable, the internet – maybe only use your cellphone internet instead of home internet)
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Look for government services to help supplement your situation www.crhc.ca/programs-and-services/direct-rent-supplement-program.aspx or www.alberta.ca/housing-rent-assistance.aspx or www.cmhc-schl.gc.ca (Search - affordable housing programs in Alberta)
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Sell unnecessary goods – if you do end up moving it's less to move and in the meantime gives you extra cash
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Call your creditors and ask for interest only payments. Do you have insurance on your credit accounts?
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Consolidate debt to lower monthly payments (www.fourpillars.ca or www.servicecanada.gc.ca/eng/life events/debt.shtml or www.creditcanada.com)
If you have done all the above and still need help – Let your Property Manager/Landlord know of your situation so we can work together to come up with other solutions. There are much more you didn't even know exist! Just talk to us. We are here to help. In any case, we need to follow the laws in the Residential Tenancies Act http://www.qp.alberta.ca/documents/Acts/R17P1.pdf and honor our contracts such as Lease Agreements.