Even with a rocky world economy there is still a more net migration into the province and this adds up to lots of qualified tenants who want to rent from you and your rental property.
With so many good tenants out there it’s important for landlords to take the steps to find them and get them paying rent for your property. Good tenants will not only pay you rent on time, they will respect you and appreciate what it takes to be a residential landlord. This respect and understanding can go a long way to helping you become a successful landlord.
For example, good tenants will do things like:
1. Always Provide The Landlord With Proper Notice When Moving Out
Provide you with proper notice when the want to move out and not leave you hanging.
2. Keep Your Rental Property Tidy When You Are Showing It To Prospective New Tenants
When they do give you notice they will keep the place clean and tidy when you are showing the property to new potential renters.
3. Pay Rent On Time
If ever they need to pay the rent a day or two late they will contact you and make sure you are okay with it and will make it a one off situation.
4. Leave a Clean Rental Property Behind When They Move
When they move they will clean the place to make it as nice as when they moved in.
5. Let Others Know What a Good Landlord You Are
Some good tenants will want to even write a letter telling new tenants what a terrific landlord you are.
6. Understand the Challenges Landlords Face
The respect how expensive contractors are and if they do any minor damages or spills they will do their best to correct them.
Unfortunately there are also a group of bad tenants out there. These tenants are often tricky and are great story tellers. They have experience in tricking people into trusting them. Whether it’s an employer, a landlord or someone else they know what people want to hear and give it to them even it’s not true.
These types tenants can lead to huge financial losses if they don’t pay rent, damage your property, or worse. This is why it’s so important to screen your tenants carefully and run a credit check on tenants who want to rent from you.
Landlord Rents To A Bad Tenant
We received an email from a small business landlord who has rented to a very difficult tenant and it’s driving him up the wall.
“Things keep getting worse. We rented to a single mother and her 13 year old son. When we first met her she looked and acted very professional. She said she used to be in the property management industry and her Mother used to be a landlord so she knew how important it was for tenants to pay on time and take care of the house. Her son was very nice and polite and told us how much he liked the place.”
The landlord goes on:
“Now it’s 3 months later and the situation is a disaster. The past couple months rent has been late and we always get complaints. The place is a huge mess. When I did an inspection there were burn marks on the counter top, big holes in all the walls the closet door in the master bedroom was mirrored and they are cracked, and the carpet is burned. She said she didn’t smoke but she does.
Did this landlord screen the tenant before renting to her?
“She forged her employment letter because she doesn’t work there and her last landlord I called for a reference had the cell phone disconnected”
How I Find a Great Tenant?
Renting to a bad and destructive tenant can be stressful and even lead some landlords to sell and give up on their rental business.
Don’t let a bad tenant ruin your financial future! You only need to take look at what some B.C. landlords who didn’t screen carefully face.
And Ontario landlords are aware that so many bad tenants are out there they always screen carefully.
There are lots of great tenants out there who are happy to come to Alberta for a bright future. They pay the rent on time and will respect you and your rental property.
Tenant Screening and Credit Checks
Make sure you screen your tenants carefully. This means you should always run a tenant credit check.
By running a credit check on your tenant you will see real information about them. You will get a credit score, see real employment, see real past and current addresses.
How Can I Run A Credit Check On My Tenants?
It used to be you would have to pay an annual fee and it was expensive and time-consuming.
Things have changed!
You can now join the Alberta Landlords Association for a low one-time fee and start running premium TVS credit checks for only $10/check.
TVS is leading landlord credit check provider in Canada and their checks are excellent!
Alberta Landlords – Find Great Tenants in 2015!
Make sure you screen your tenants carefully and join the Alberta Landlords Association and begin running TVS credit checks for the member price of only $10/check!