AVOID BAD TENANTS
Markham and Toronto Real Estate News
The price increase in the housing market has caused an increase in the renting market. How do you avoid bad tenants? Everyone may seem nice and “good enough”.
Summing up the situations we have prepared the TENTANT SCREENING LIST.
- Documentation
When someone asks for particular documentation (see listed examples below), “Oh sorry, it’s not available right now”, is not an adequate response. Filter out any tenants that can’t show the following;
- Proof of income
- Profession and/ or career choice and contact information for reference check
- Previous landlord reference
- Government identification (citizenship, license..) – yes it has happened.
Proof of income shows that the tenant can actually afford the property. A salary employee is always preferred. Previous landlord references helps you to find out how they treat the property. What if they don’t have one? Choose a tenant that does.
Avoid Bad Tenants
- A Contract! How do some landlords keep forgetting this!
Many landlords fail to have a simple contract. A contract should not be feared but instead display transparency of what is expected. Many tenants would prefer a contract to clearly outline dates and needed information. No pets? No smoking? No parties? Include it in the contract. Some items to include in your contract;
- Official date of payment
- Official end date of contract.
- Ground Rules – no pets, no smoking, no parties, and etc…
- Penalties – if they fail to follow ground rules there can be consequences.
- What are the added costs of living there (Utilities, internet and etc…)
- REMEMBER the goal is not scare away potential tenants. Contact us for more assistance.
- Personality Test
Besides the above steps stated above you should view your applicant through a different lens. You can determine if the tenant is respectful, responsible and reliable;
- Are they on time?
- Did they ask to take their shoes off?
- How is the individual dressed?
- Do they ask necessary questions? Do they listen when you are answering?
I hope I’ve helped you with this information. Share this with your friends to see what they have got to say. Also if you would like more related news ask us or simply subscribe to our newsletter! Stephanie Rebello.