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Tenant Screening Toronto: Tenant Credit Checks

November 5th, 2013 · 1 Comment · Tenant Credit Checks

 Tenant Screening Toronto Tenant Credit Checks

We’ve already tackled some important issues facing Toronto Landlords.

Whether it’s dealing with freeman-on-the-land tenants or taking your tenants to small claims court, we are hitting important topics and issues. And these topics are important for Ontario landlords.

Renting To New Tenants

One of the most common questions we receive are requests for tips and advice on how to find good tenants.

Here’s a recent email in from “Mike from Toronto”

Mike’s Landlord Story

I inherited my tenant when I purchased my rental property three years ago.

The previous owner recommended her and said he was sorry to sell the property.

He was retired and needed to cash out to pay for his new retirement home on the beach in Florida.

Upon his recommendation I took over the rental and the tenant.

For the past three years Jen has been an ideal tenant!

She has always paid on time and kept the property in terrific shape.

She even did those ‘little repairs’ herself instead of calling me to fix the small things.

When you have a tenant like this being a Toronto landlord is easy and, dare I say it, fun.

I received proper notice from Jen she has bought her own condo and will move out in 60 days.

I’ve now started to try to find a new tenant. This will be my first tenant.

Already I’m finding it really hard and am looking for some advice. I’m a bit scared.

No, make that really scared with all the stories I’ve been reading about landlords getting ripped off.

Tenant Screening

Mike should be a little scared.

After all there are lots of examples of bad tenants out there who manipulate the Landlord and Tenant Board.

Stories about tenants who don’t pay rent, do lots of damages and ‘play’ the Tenant-friendly Ontario system are numerous.

There are lots of bad tenants out there.

How Can Toronto Landlords Find Good Tenants?

One of the best ways to make sure your tenant will pay the rent and respect your property is a Tenant Credit Check.

This will show you the history of your potential tenant including:

1. Do these tenants have any lawsuits against them?

2. Do these tenants pay their bills on time?

3. Do these tenants owe money to anyone?

By looking at their financial history you can get a heads up on their present and future financial actions.

Few tenants with good credit scores want to ruin those scores by cheating their landlord and not paying rent.

Where Can I Do A Toronto Landlord Credit Check?

The Ontario Landlords Association offers the best quality credit checks out there for the most affordable fees.

Check out the Ontario Landlords Association membership page.

For a one-time fee you can start doing tenant credit checks with Equifax for only $10.

It’s a deal for Toronto landlords that can’t be beat.

Make sure you do property tenant screening, including tenant credit checks to find good tenants who pay on time and respect your property!

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