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The Importance of Renting To Good Tenants
As our city grows fast there are lots of good tenants out there who want to rent from you.
The harsh reality is there are also tenants out there who want to use you as their social worker and personal ATM machine.
We call the “pro tenants” because they are professionals in understanding and manipulating the Landlord and Tenant Board.
These types of tenants can live in your property for months without paying rent.
Pro tenants can damage your property leaving you with clean up and repair bills in the tens of thousands of dollars.
They can also create a lot of stress that can impact your daily life.
A Vaughan Landlord Rents Her Basement Out
A post on the Ontario Landlords Association forum shows how a bad tenant who doesn’t respect you or the rules can create serious problems.
The landlord wrote she owns a house in Vaughan and is renting out her basement.
Despite the tenant saying only she would live there and even signing a lease stating she would be there alone things changed quickly after she got the key.
(Remember, once you hand over the key just about all power the landlord has disappears).
One Tenant Turned Into Four or Five Tenants
The landlord wrote her tenant now has four or five people living in the rental unit with her.
Her tenant didn’t tell the truth and didn’t care about their agreement.
Utility Bills Sky Rocketed
The landlord said she rented her basement ‘inclusive of utilities’ and now her bills have sky rocketed with so many people living in her basement.
She thought she could change the lease and charge extra to the tenants.
Except you can’t do that in Ontario
She tried to reason with the tenant and asked her to pay for power, pay a bit more rent or move out.
The tenant knew the Ontario rules and disagreed with the landlord.
After all the tenant said, “I know my rights!”
She also said she knew this was an “illegal basement” apartment and she could shut down the landlord’s rental business and get her fined.
How Can I Avoid These Types of Tenants And Find Good Tenants?
Unfortunately the type of bad tenant described above is all too common these days.
Landlords must screen tenants carefully before renting to them.
Many ‘pro tenants’ are very good salespeople…good at ‘selling themselves’ to landlords.
They dress nicely, know what to say to make the landlord feel comfortable, some even drive a nice car (which they want you to see because it might not be their car but it looks good.)
Tenant Credit Checks
One key part of any good tenant screening process is to do a credit check.
A tenant credit check will tell you if the tenants are really who they are, will tell you their work history and tell you if they pay their bills on time.
Tenants who are honest to you about their past and have a history of paying their bills on time won’t want to destroy this history.
You see, high credit scores lead to getting credit cards, car loans, and mortgages.
A prospective tenant with a high score and a good financial history won’t want a fight with their landlord to destroy the high credit score they have developed over the years.
To put it frankly, tenants with high credit scores have ‘skin in the game’ and don’t want not paying rent to lead them to not getting a mortgage in the future.
The Ontario Landlords Association offers high quality tenant credit checks for a very low price. Make sure you find good tenants with good tenant screening.