- When you advertise for a tenant, make it clear that you do background and credit checks.
- Ask any tenant to complete a detailed rental application, showing every place they have lived at least in the past five years.
- Ask for a current cheque stub from their place of employment as proof they are regularly employed.
- Money Monitor: Are you ready to own property?
- Money Monitor: Is being a landlord right for you?
- Ask for at least three personal references and call each one, including any previous landlord.
- Interview the tenant at his or her current residence to see for yourself how they treat someone else’s property.
- Try to interview the tenant in person and make note if they are vague or evasive with their answers or try and change the subject.
- Check out the tenant on social media, whether it is pictures that they post or blogs that they may have written. For example, if you search Andreas Pirelli on LinkedIn, you will see that he gives his title as “Senior Chief Justice” at something called the “Tacit Supreme in Law Court.”
- Have the property regularly inspected to ensure the tenant is properly maintaining the property and not causing any damage.
- Treat your tenants with ongoing respect, and they will look after your property better. Consider a gift card or a Christmas present if rent is always paid on time.
If despite all precautions you find yourself with a tenant who is causing any damage or making ridiculous claims against you, get assistance from an experienced landlord and tenant paralegal and start legal proceedings quickly.
The good news is that the vast majority of tenants take good care of landlord properties. Be prepared before you rent out your home so that this does not happen to you.