What makes a good tenant?
This is a good and very complex question that can have several different responses. An alternative question to ask yourself might be, what should I be looking for in a tenant and how do I go about screening an applicant.
Be cautious! There are several governing bodies overseeing landlord, tenant and rental properties. You need to be consistently careful to treat each prospective tenant equally and fairly following the expectations of the governing bodies.
Through general conversation, while showing a property to a prospective tenant, ask the tenant about habits, other rental property experiences trying to get a feel for the type of individual that will be living in your home. You should also ask if the have ever had a problem with the current property they rent (this can then be confirmed when you call the current landlord).
Each prospective tenant must complete a detailed tenancy application which should include information about themselves, residential history, employment history and major expenses such as loans and automobiles. An emergency contact section is also useful.
All collected information needs to be verified. With each prospective tenant, you should use the Canada Mortgage and House Corporation (CMHC) standard to calculate if the tenant can afford to rent the property.
Additional information can be found at:
http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_004.cfm
While conducting a previous residential history and landlord check, review any information a tenant has provided. Ask several questions, while speaking with a landlord, in order to gather as much information as possible in order to assist your decision making process. Always keep in mind that the individual you are confirming with may be an acquaintance of the prospective tenant.
Once you have collected the above information, you should have a good idea of the person(s) who want to live in your house.
In our professional service, Real Property Management Service includes the screening of all tenants.
We take care, which will alleviate your role!
If you have a question or topic that you would like me to cover please feel free to email me at: blog@rpmservice.ca.
Most importantly, please know that we are here to offer property management to anyone who does not want the troubles or complications involved in being a landlord.
If you would like more information on our services, kindly browse our website at www.rpmservice.ca or contact our sales team at sales@rpmservice.ca
I look forward to assisting you with your Ontario Landlord needs and invite you to check back soon.
Sincerely
Jason McGuire
President