Landlords in BC – Avoid These Top 5 Tenant Screening Mistakes And Rent To Great Tenants
BC Landlords know the importance of tenant screening. It’s been a terrific summer for BC Landlords who have seen our vacancy rate lower and house prices appreciate.
The Canada Mortgage and Housing Corp (CMCH) forecasts the Vancouver vacancy rate for rental properties to drop be 1.9% this year and drop to 1.8% in 2015.
Only Alberta landlords in Calgary and Edmonton are enjoying lower vacancy rates.
High Prices, Low Vacancies, So What’s The Problem For BC Landlords?
The problem is that while there are lots of great tenants out there who want to rent well managed properties from responsible landlords there is also another group.
This group is small yet still large enough to be take extremely seriously.
Bad Tenants in British Columbia
There are tenants who want to rip off landlords. Especially small landlords. And they know how to manipulate the system to accomplish their goal.
We’ve written before about these tenants who lie to landlords and then exploit the system to avoid paying rent.
For example take a look at a couple of serial bad tenants who had to pay up to one small residential landlord they cheated to avoid jail time!
These are tenants who are very charismatic and can tell a great story to get small landlords to rent from them without doing proper tenant screening including tenant credit checks.
How Can BC Landlords Avoid Bad Tenants?
It’s all about avoiding tenant screening mistakes.
Under the system British Columbia landlords face, renting to one bad tenant can lead to months of stress and even a loss of thousands of dollars.
Top 5 BC Landlord Tenant Screening Mistakes
Here is our list of the top 5 biggest mistakes BC landlords make in renting to tenants.
1. Believe the tenant’s story
Small BC landlords are good people and have worked hard to get where they are. We want to help people who are struggling to succeed.
You need to verify everything the tenants say and write down on the application you can download as part of the BC landlord Rental Kit.
2. Go with your gut instinct
When you meet people who tell you a good story you tend to believe them. For example, the serial bad tenants said they were moving because their current landlords was a ‘bad landlord’ and they wanted to protect their family and rent from a ‘good landlord.’
Eight BC landlords believed this type of story in a two year span and all the landlords got cheated as the tenant cheques bounced and they refused to pay rent!
3. No Tenant Credit Check
Lots of landlords have never run a credit check before. It’s new and it looks to be complicated and expensive.
They don’t run tenant credit checks and disaster happens as the tenant they trusted turns out to be a liar.
4. Poorly Done Employment Check
Small landlords know the important of an employment check. However, they don’t run tenant credit checks to see who the tenants current and former employers really are.
It’s easy for sneaky tenants to get a friend to say they were their former employer and give a fake recommendation.
5. Real Current and Former Landlords Check
This is similar to the fake employment check bad tenants use to trick good landlords.
Bad tenants have a friend ready to answer the phone and have a script ready to recommend their “employee” who really is only a buddy or pal.
Join the British Columbia Landlords Association to Find Great Tenants!
This is a terrific landlord community and the best deal for BC Landlords.
There is only a one-time registration fee.
That’s right. Only a one-time registration fee, no annual fee.
And unlike some other groups which aren’t clear about their membership fees and what they offer, the BC Landlords membership fee is up-front and clear.
One time registration fee only!
Small landlords know the importance of saving money and the BC Landlords Association is run by landlords to help landlords…and that means only a one-time fee to registry for terrific services.
You can network with thousands of experienced landlords and property managers in the Private Members forum, download premium leases and other documents in the BC Landlord Kit, and get huge discounts on the best, most comprehensive tenant credit checks available with Equifax and GARDA.
Recognized by the BC Government
The BC Landlords Association is recognized by the British Columbia provincial government as an important resource for residential landlords.
Do You Rent Your Basement?
You can use Equifax and GARDA to run credit checks on your basement tenants, or even if you own a rooming house!