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BC Landlord Tenant Screening: Serial Bad Tenants Facing Potential Jail Time For Their Scam

June 1st, 2014 · Bad Tenants BC, BC Landlords, Tenant Credit Checks

 BC Landlord Tenant Screening Serial Bad Tenants Facing Jail Time For Their Scam

Avoid Bad Tenants! A Tenant Credit Check Would Have Saved These 8 BC Landlords From a Couple Of Non-Paying Tenants Now Owing Them $40,000 In Lost Rent and Other Costs!

We like to inform BC landlords of the important of screening your tenants carefully before handing over the keys to your rental property.

After all, you’ve worked hard to purchase your rental property and you need to protect it and your rental business.

In this blog we will update the situation facing 8 different landlords and provide advice how smart landlords can avoid these types of bad tenants.

Serial Bad Tenants Owe Landlords Nearly $40,000

We wrote last month about a couple of serial bad tenants who convince landlords to rent to them without proper tenant screening.  It’s a case that has landlords all over Canada shocked and upset.

An Alberta landlord emailed us asking if they could help in setting up a nation-wide “bad tenant registry.”

As of last month, these bad tenants had just ripped off landlord #6.

A CBC News report shows just how many landlords were cheated by these tenants and the huge financial losses these landlords have suffered.

Counting up all the arrears the landlords claim they are owed by the Perrets equals a large sum of money.

The amount includes unpaid rent, utilities, bailiffs’ fees, cleaning, fees from bounced cheques, court fees and lost rent from vacancies following broken leases.

The amount these serial bad tenants owe their landlords totals $39,650 since July 2012!

Bad Tenant Timeline (How times they have been evicted and how many landlords they owe money to!)

1. July 2012 – September 2012:  Tenants Evicted Owing Over $7500

2. September 2012: Tenants Evicted Again Owing the Landlord $3750

3. October 2012 – March 2013: Tenants Evicted Owing $7900

4. March 2013- May 2013: Tenants Evicted Owing $5000

5. June 2013 – October 2013: Tenants Evicted Owing $7500

6. November 2014 – January 2014: Tenants Evicted owing $3000

7. January 2014 – March 2014: Tenants Evicted Owing $5000

The Importance of Avoiding Bad Tenants

On April 28, a judge in Port Coquitlam small claims court ordered Susan and Chris Perret to repay $6,000 to former landlord Suman Parasad by June 9, or go to jail.

Parasad was the first landlord to take the Perrets to small claims court over unpaid rent, claiming the pair racked up almost $8,000 in arrears in 2013.

Rich Coleman, minister responsible for housing in B.C., says that, while most disputes between landlords and tenants in the province are resolved under the Residential Tenancy Act, this case is beyond its purview.

Will These Serial Bad Tenants Go To Jail?

Many of the landlords who were ripped off for thousands of dollars.

However, it looks unlikely.

nicole-read-rented-to-susan-and-chris-perret

The RCMP told ripped off landlord Nicole Read she should file a complaint as the lead person for all the eight landlords who were defrauded.

Why B.C. Landlords Need To Do Tenant Credit Checks

There are some common themes for the landlords who were ripped off by these bad tenants.

The reality is they were far too trusting of these tenants and didn’t screen them carefully.

How Can a Tenant Credit Check Help Landlords?

A Vancouver landlord emails in asking us the following:

“Your site keeps telling us landlords to conduct credit checks on our tenants. I’m wondering how a tenant credit check would help landlords in the case of those serial bad tenants?”

Every one of these landlords would have saved themselves months of stress and huge financial losses by running a tenant credit check on these tenants.

How Would The Tenant Credit Help Them?

It’s not only the fact a credit check will show the landlord if the tenants have any history of owing money or judgements against them.

It will also save the landlord from these types of serial bad tenants. Here’s how:

1.        A GARDA check will show current and previous addresses

A tenant credit check not only provides you with a credit record and a credit score, it provides you with current and past addresses

2.        Experienced landlords will confirm these past addresses

A tenant credit check shows you these addresses. A smart landlord will then contact the landlords of these past addresses.

3.        You can talk to the real landlords

You don’t have to believe what the tenants say, you can go see for yourself.

4.        You can find out the truth about the tenants

When you talk to the ‘real landlord’ of their current or past landlord you can get a true description of the tenants’ behaviour from the ‘real’ landlord.

5.        Make a decision on renting to tenants based on “real” information, not a story or lies

You can make a decision based on ‘real information’ which in this case would lead you to tell these bad tenants a resounding “No! I won’t rent to you!”

No one deserves to get ripped off by bad tenants. However, the reality is these types of tenants are around and you have to be very careful.

A BC landlord credit check would have saved these 8 landlords tens of thousands of dollars!

How Can I Run a Credit Check On My Tenant?

You can get access to premium tenant credit checks by joining the BC Landlords Association.

Associations such as LandlordBC charge landlords a yearly fee to keep being a member.

For small landlords with only one or two units it doesn’t make financial sense to pay a yearly fee.

For this reason, the BC Landlords Association only charges a one-time fee of $99 to become a member.

Once you are a member you get access to premium credit checks for only $10/check.

What BC Landlords Association Is Best For You?

1. Membership with LandlordBC

Wow, it’s difficult to get simple information from them, such as “What is the price of membership?”.

They charge small landlords $150 per year PLUS $7/unit PLUS a processing fee of $50.  Can you afford that?

2. Membership with the BC Landlords Association

It’s very clear and up-front.

The BC Landlords Association Only Charges a One Time Registration Fee of $99.  

You get access to the “ultimate credit check” from GARDA (one of the leading background check companies in Canada).

This is the “full check” which is very different than what LandlordBC and other associations offer (which are credit checks with very little information compared to a “full credit check”). 

The GARDA “full check” isn’t just a “snap-shot” of your potential renters’ financial history, it’s an encyclopaedia!

Rent To Great Tenants (and avoid the serial bad tenants)

Tenant Credit Checks Are Essential For Successful and Profitable Landlords. Protect your rental property with tenant screening including a credit check.

Join the BC Landlords Association for only a one-time registration fee (no annual fee)

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BC Landlords – Landlord Number #6 Was Just Ripped Off by Serial Bad Tenants

May 1st, 2014 · Bad Tenants, Credit Check, Landlords BC, Tenants Screening, Uncategorized

BC Landlords - Landlord Number #6 Was Just Ripped Off by Serial Bad Tenants

B.C. Landlords – Take A Look At These Six Properties Where The Tenants Didn’t Pay Rent!

Become a Member of the British Columbia Landlords Association for a Small One-Time Fee and Start Doing Credit Checks To Avoid Serial Bad Tenants!

The exposure a couple of serial bad tenants has British Columbia landlords beginning to change the way they screen tenants.

Serial Bad Tenants

According to CBC news Chris and Susan Perret have a small BC landlord trying to evict them again.

You heard that right, “evict them again!”

This is landlord #6 who has been cheated by bad tenants.

What’s So Special About Evicting a Tenant in British Columbia?

It’s been revealed these tenants have been evicted 5 times in the past couple of years and this is their 6th eviction for non-payment of rent.

The latest landlord tricked by them is Cara Falconer in Maple Ridge.

Why Did She Rent To Bad Tenants?

She didn’t do a credit check.

Instead she rented  to these tenants without even doing a simple reference check.

No Tenants Checks At All?

She bought into their story accusing their last landlord of being a thief and stealing their rent money.

She rented to them for April 2014 and guess what.

What Happened to this Maple Ridge Landlord?

The April rent cheque from the tenants bounced.

This landlords has already been ripped for $1500 and it’s just the start.

How Can A Landlord Avoid These Type of Serial Bad Tenants?

Since the CBC investigation has been widely reported at least BC landlords can see what is happening in the rental industry in 2014.

We sometimes think only Ontario landlords are facing bad tenants who want to rip them off.

It’s not the case.

Bad tenants exist in BC and their numbers are growing.

Ok, So How Can I Avoid Bad Tenants and Rent to Good Tenants?

One of best tools to screen your tenants and rent to good tenants is a credit check.

If I do a Credit Check What Information Will I Get?

If you conduct a credit check you will receive the type of important information you need to make a smart, sound and informed decision on whether or not you want to rent to them.

Sounds Good!

For experienced and professional landlords, a tenant credit is essential.

If you become a member of the BC Landlords Association you get terrific deals for discounts on premium credit check services.

You only have to pay a one-time fee to get access to wonderful landlord tenant check services such as GARDA and Equifax.

You Mean It’s Only a One-Time Fee To Become a Member of the BC Landlords Association?

Yes.

Companies like Landlord BC charge an annual fee that simply doesn’t make sense for many small and medium sized landlords.

And their “discounted credit checks” are only what are called “partial checks”.  This means the information you get is very limited.

The BC Landlords Association provides terrific tenant credit check discounts for GARDA which offer you “full checks.”  This is a real credit check which offers you a complete look into your potential tenant’s financial history.

BC Landlords – Become a Member of the BC Landlords Association for a One-Time Fee and Get Premium Credit Checks From Your Own Home or Office.

It’s where small landlords can get the tools and services you need at prices landlords can afford.

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British Columbia Landlords: Be Careful of Serial Bad Tenants

April 10th, 2014 · Landlord Tenant Credit Check, Landlords BC, Tenant Screening British Columbia

 B.C. Landlords be careful of serial bad tenants

B.C. landlords call for bad-tenants registry

A report by CBC News has landlords all over British Columbia on high alert.

It also has landlords demanding change in how  the Residential Tenancy Branch operates.

How Bad Tenants Can Use the System to Abuse Small Landlords

We’ve seen the damage bad tenants can do to small landlords before.

In this case Landlord Kim Gouws explained how her renters didn’t pay her a cent of rent money after moving into her rental property in January.

After the tenants moved in, the landlord found both their check for the deposit and for the first month of rent had bounced.

By time she evicted them for non-payment of rent, Gouws was out over $5000 in lost rent.

Tenants Who Won’t Pay Rent (Over and Over)

Gouws believed these tenants were serial non-payers of rent.

CBC invested the ex-tenants and found that Gouws was right. The tenants had lived basically “rent free” for the past couple of years in 5 different rental properties in the area.

Their former landlady Suman Prasad lost over $7,900 in the four months the tenants refused to pay her any rent.

Another landlord said the tenants were experts in using the B.C. Residential Tenancy Act to their advantage.

When a CBC reporter called the tenants asking them why they don’t pay rent the reply was flippant.  The tenants said it’s not only landlords who have ‘issues’ to deal with.

Should We Have a Bad Tenants Registry?

Landlords such as Gouws told CBC News they want the government to create a ‘bad tenant’ registry. 

Bad stories aren’t exclusive to Ontario landlords nowadays and she says British Columbia landlords need more protection.

It’s time for landlords to be able to look at a database of tenants who have been evicted with court orders.

What Can Landlords Do To Protect Ourselves From Bad Tenants?

There are more and more stories of bad tenants in B.C. these days. It doesn’t matter if you are a Vancouver landlord renting out your basement or a Surrey landlord renting a SFH.

While landlords wait for the government to possible create a bad tenant registry there are things a landlord can do to protect yourself.

British Columbia Landlords: Tenant Credit Checks

Landlords need to screen tenants thoroughly.

An essential part of a good tenant screening is a credit check on the tenant.

The best tenant credit check is called a “full check”.

A “full check” isn’t offered by most credit check services. 

A “full check” gives you a very detailed financial history of a potential tenant.

Join the BC Landlords Association For Discounted Credit Checks with GARDA

The BC Landlords Association is a key element in making sure you rent to good tenants only.

While Landlords BC charges an annual fee of $150/year for membership, the B.C. Landlords Association only charges a one-time fee of $99.

For this you can get huge discounts on lots of services, including a “Full Credit Check” for only $14/check with no annual inspection of your rental property.

Full credit checks are normally over $50/check!

BC Landlords hope we can get a bad landlord registry

You can start protecting yourself now with great tenant screening including membership in the BC Landlords Association for only a one-time fee of $99 (no annual fee).

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Landlords BC: Rent To Students

April 5th, 2014 · Student rentals

 British Columbia landlords rent to students BC

What’s It Like To Be a Student Landlord in British Columbia?

Experienced BC Landlords know our province can be a great place to invest in.

According to a recent article in Moneysense magazine there are a lot of great places to live in British Columbia.

Saanich, B.C. came in at number eighteen while West Vancouver was rated at the city with the highest net worth.

We also have a lot of people wanting to rent here.

According to CMHC the British Columbia vacancy rate is low and approximately 40,000 newcomers will move here in 2014.

Students in BC

We also have a lot of great universities and colleges in our province and are home to thousands of international students.

Our location compared to other Canadian provinces makes studying in British Columbia very attractive for students from Asia.

We have world class institutions such as the University of British Columbia and a large number of top notch post-secondary institutions.

According to Study in BC the actually number of international students studying in British Columbia number over 100,000!

Rent To Students

Are you thinking of becoming a landlord who rents to students?

With such a large population of students it can be an excellent opportunity for landlords.

And let’s be honest, student tenants look very attractive when compared to some of the problems landlords are facing in 2014 renting to adult residential tenants.

How To Become a Successful Student Landlord

After you spend time carefully researching which area to invest in and buying your rental property the next step is finding good student tenants.

So How Can You Find Good Student Tenants?

How can you make sure you rent to responsible students who will pay the rent on time, follow the lease terms you agreed upon, and won’t damage your property or party too often?

The Ontario Landlords Association has a great interview with the Manager of the University of Toronto Housing Services regarding this topic, Jennifer Radley. The U of T is also famous and attracts a lot of international students.

There were a lot of very good questions and very helpful answers on how to rent to students successfully.

Want Do Students Want in a Rental Property?

For example, many landlords aren’t sure what students really want when looking to rent.

Radley explained that in her experience students have a checklist of things they are looking for.

If you can match these needs you will have a lot of great student tenants lining up to rent from you.

1.  Location

Students want to find a place near the campus where they study.

If your rental property is near a bus route or subway station which allows students easy access to get to class it’s also a winner.

2.  Affordable Rent

Students are usually on a budget and are looking for properties that aren’t more expensive than normal rents for the area.

It’s very attractive if you include utilities with the rent because sometimes splitting bills between students can be a pain.

3.  Safe, Bright, Maintained Property

With busy class schedules students are always on the lookout for rental properties that are in good shape, nice to live in, and safe.

What Do Students Expect from their Landlord?

The interview then touched on the subject of what students expect from the landlord of the property they rent.

Radley explained how you can be the landlord student rentals dream of when they think of what a good landlord should be.

1.  Knows the Rules and Follows the Laws for Landlords

Students appreciate landlords who give proper notice when entering the property and follow the laws for collecting rent and pet deposits.

2.  Rent is Reasonable

Landlords who keep rent affordable are viewed positively.

If your student tenants have been good tenants and want to renew the lease you might want to consider not raising the rent on them.

3.  Repairs

If you want students to continue renting with you making any needed repairs in a timely fashion is a good way to keep them.

Is Renting To Students A Good Opportunity For You?

All across Canada, people are investing in rental properties targets for students and succeeding.

Whether you are an Alberta landlord wanting to rent to undergraduates in Edmonton, an Ottawa landlord marketing to international PhD students, or a landlord in British Columbia just starting out, student rentals are a huge part of our industry and present some excellent opportunities.

We will have more discussion on Renting to Students for British Columbia landlords coming soon.

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Landlords British Columbia: Review of the BC Landlords Association

March 12th, 2014 · BC Landlords Membership Review, British Columbia Landlords

 Review of BC landlords association

BC Landlords Association Membership is an Excellent Resource for Small and Medium Sized Landlords.

More and more people in British Columbia are renting out at least a part of their homes.

With skyrocketing home prices, homeowners are becoming new British Columbia landlords each week.

Vancouver Sun

According to the Vancouver Sun lots of landlords are now sharing their homes with strangers.

In Vancouver the average price of a house is over $900,000 and renting to someone to live in your basement is a great way to help cover your monthly mortgage!

And why not become a landlord?

According the CMHC (Canada Housing and Mortgage Corporation) the vacancy rate is only 1.8%.

This means there are more tenants out there than available rental properties.

This is good news for landlords.

Lots of Great Tenants Out There

With the economy still doing better than most other provinces (except Alberta where Alberta landlords are enjoying a great opportunity with far more tenant demand than rental property supply) we have lots of newcomers arriving in our province.

These newcomers are looking to put down roots and succeed in BC.

They are looking for good landlords who offer high quality rental housing

They are looking for serious and professional landlords just like you!

Bad Tenants Are Out There

Amongst all the excellent tenants out there another group also exists.

These are people who have learned how to ‘play the game’ and ‘manipulate the system’ to cost landlords months of frustration and thousands of dollars in losses.

These bad tenants in British Colombia are like parasites and want to feed on you and your rental property.

Renting to the wrong tenants can cost a landlord tens of thousands of dollars as this CBC story shows.

Where Can You Find Advice and Help?

There are some old associationa out there such as RomsBC and BCaoma. 

They are great for large scale corporate landlords with thousands of units

Except small and medium sized family landlords don’t have thousands of units.

They don’t offer the proper services you family landlords truly need at the prices we need.

Review of the BC Landlords Association

The internet is full of paid posters critiquing companies and association who offer true value.  

Fortunately there are also honest sites offer a real appraisal (and not paid to do so) such as the Toronto Landlords review of the Ontario Landlords Association here.

As for our review, we say the BC Landlords Association is a British Columbia landlords best friend!

How?

1. Credit Checks for a Low Cost

We all know the importance of a tenant credit check to find great tenants.

The BC Landlords Association offers you tenant credit checks from Equifax for only $10/check!

And offer you a ‘full check’ from GARDA for only $14/check with no annual inspection.

The GARDA full check gives you an amazing look at your potential tenants current and financial past.

It shows you:

1. Where your potential tenant lives and their past addresses

2. Where does your potential tenant work and where have they worked before?

3. Does your potential tenant owe money to anyone?

4. Has anyone sued your potential tenant to get money from them?

5. Does your potential renter have people chasing them for money?

This type of ‘full check’ usually costs at least $50/check and requires an onsite inspection of your property each year.

That means the credit check company needs to come to your property and inspect it, and charge you.

The GARDA credit check from the BC Landlords Association doesn’t require it!               

Let’s hear from a BC landlords member:

“The GARDA credit check is amazing…I found everything I needed to approve my tenant!”

The Equifax and GARDA credit checks really help landlords and have a low price. 

This is unlike companies out there that are not clear about their fees and require annual fees.

Some companies like advertise they will give you complete eviction histories of potential tenants.

That’s not true.  They can’t because of the privacy laws and only using this as marketing.

Small landlords on a budget can’t afford to waste money or time on misleading advertising.

2.  Incredible Documents

Joining the BC Landlords Association give you access to all the documents you need to succeed.

Not just normal documents, but documents designed to help the landlord.

You get an online rental kit library where you can download all the documents you want 24/7.

Remember, all leases are not the same. 

You need a lease with clauses that will protect you in case you have any landlord/tenant dispute.

3.  Private Members Forum

As member you get  access to the private members forum where can share tips and strategy with thousands of other landlords and property manager across Canada. 

Incredible as it sounds, there are a couple of trolls who claim this isn’t a good thing. 

We think it is: you can network with other British Columbia landlords and also get the wisdom of successful veteran landlords and property managers across the country.

4. One Time Fee

This is why some of the old landlord associations and credit check companies unhappy.

Joining the BC Landlords Association is only a one time fee!  And for that one time fee you get the best prices on the market.

5. Recognized by the Provincial Government

The BC Landlords Association is recognized as a resource for landlords. 

Take a look at the Legislative Assembly of British Columbia page.

BC Landlords Association Membership Helps Landlords

For a one-time fee you get amazing  discounts on tenant credit checks, 24/7 access to a BC landlords rental kit full of all the documents you need, and the biggest landlord forum in Canada.

This certainly has ‘rocked the world’ of the old-timers who charge annual fees and high prices. 

That’s okay, because helping landlords is what we want and that’s why we highly recommend BC Landlord Association Membership

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British Columbia Landlords: How Can I Find Good Tenants? (And Avoid The Professionals)

March 1st, 2014 · British Columbia Landlords, Tenant Credit Check, Tenant Screening

British Columbia landlords credit check

Take Your Tenant Screening To A New Level With Credit Checks From GARDA Background Screening!

British Columbia landlords know the days of renting to tenants based on a handshake can cost you thousands of dollars in lost rent and damages.

Remember this CBC News report of a landlord who rented to a family because she felt sad for them and they ‘seemed like such nice people’?

We wrote about this before because it’s such a clear case of a nice and trusting landlord getting cheated by professional tenants.

Six months later the landlord says she lost more than $20,000 in rent, legal fees to try to evict them, and for cleaning up the incredible amount of junk they left behind.

Who Was the Landlord?

The landlord was Margarita Loyola. 

She lives in Victoria, B.C.

She decided to trust her tenants after listening to their sob story.

Loyola says she remains shell-shocked after her experience renting to them:

“They are living in your house …”

“You just know and they know they are taking advantage of you…”

“Under the system the landlords are totally powerless and there’s nothing you can do!!…”

How Much Garbage Was Left Behind?

There was so much is took two huge dump trucks to remove their leftover trash.

How Much Did That Cost?

Just the junk removal cost the landlord over $1,200.

Who Were These Professional Tenants?

The tenants had been evicted by six BC landlords in only three years.

He has a criminal record (fraud) and has been successfully sued for shady business dealings.

How Can British Columbia Landlords Avoid Professional Tenants?

A good screening system including tenant credit checks would have alerted the landlord these this was not an ideal tenant.

He still could have been nice and lied to the landlord.

You know, tell the sob story and have that well-timed ‘tear’ coming down at the right time…just like a professional actor.

But by doing a premium tenant credit check she would have had a system where she could make sure her kindness was going towards a good tenant who deserved it (and not someone who wanted to rip her off!)

After all, bad tenants who know how to manipulate the system are not only something Ontario Landlords face nowadays.

There of Lots Great Tenants Out There, Make Sure You Find Them!

While most tenants are respectful and pay the rent on time the pros are out there.

This hurts all the good tenants because once a landlord gets burned they will be highly suspicious and might even leave the residential rental industry altogether (meaning less affordable rental housing).

A good tenant screening system not only helps the landlord, it helps good tenants who want to find good and careful landlords and high quality, affordable rental housing.

With these destructive pro tenants out there landlords all over British Columbia (from Vancouver to Surrey landlords to Kelowna landlords) need to have a system to avoid them and rent to all the excellent tenants looking for a place to stay.

How Would A Tenant Credit Check Have Saved Landlord Margarita Loyola?

Let’s take a look at only some of the ways this landlord could have avoided these professional tenants:

1.  A GARDA tenant credit check shows past addresses

Six past addresses in three years?

That’s a lot and a big red flag.

If you see this you can contact the ‘real’ past landlords and find out if the people you are thinking of renting to were good tenants.

2. A GARDA tenant credit check shows past court judgments

This tenant had judgments on his record. The landlord would have scene these. Another huge red flag!

3. A GARDA check shows current & past employment

This way the landlord could have verified the tenant’s story with the facts.

4. A GARDA tenant credit check shows a credit score

Tenants who rip-off landlords usually rip off others as well.

A credit score is a landlords’ way of knowing if your potential tenant pays the bills on time.

A tenant credit check would have shown these huge red flags which would have led the landlord to know the story was fake.

And she probably wouldn’t have rented to him.

…And she would not have lost over $20,000 and six months of her life dealing with these deadbeat tenants.

Can I Use My Friend or Relative Who is A Realtor or Mortgage Broker to Do Checks For Me?

According to Equifax Canada no you cannot.

You can only do credit checks for the industry you or your company have signed and registered with Equifax for.

-This means if you are a Realtor you can do checks for those purchasing property.

-It means if you are mortgage or insurance broker you can only do checks on those wanting mortgages or insurance.

-If you are a car dealer you can only do checks on those wanting to buy a car.

What Happens If I Don’t Follow the Rules and the Tenant Complains?

The government privacy commission can start an investigation. 

And Equifax will start an investigation as well.

This could lease to your friend or relative losing Equifax privileges for their entire company.

British Columbia Landlords and GARDA Background Screening

Members of the BC Landlords Association have a unique opportunity to use the power of GARDA to screen tenants.

GARDA is world-wide leader in background screening.

Whether it’s a large international corporation screening potential employees, a corporate landlord with thousands of rental units, or a small landlord renting out your basement, GARDA can help.

GARDA Tenant Credit Checks

British Columbia landlords now have a terrific opportunity to screen tenants using GARDA.

For an affordable cost you can get a full report on potential tenants to make sure they are worthy of renting your property.

You not only get a credit score, you can verify past address, income, financial stability and more!

For an incredibly low cost of only $12 / check you can find out who you are renting to before you rent to them.

You can start doing credit checks immediately.

No annual fees!

It’s a terrific service!

Check out Membership with the BC Landlords Association!

For a one time fee you can start doing premium credit checks to make sure you find good tenants today!

With tens of thousands of dollars at stake an investment of $12 can make a huge difference in your rental business and help you be safe and successful. Make it happen!

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British Columbia Landlords: What’s New in 2014

January 4th, 2014 · British Columbia Landlords, Rent 2014

British Columbia landlords 2014

While the 2014 Rent Increase Guideline in a Challenge, Other Factors Look Good For British Columbia Landlords in the New Year

Happy New Year to landlords in British Columbia and all over Canada.

This year we will provide you the with news, advice and networking opportunities British Columbia landlords can use to further your success this year.

The Canada Mortgage and Housing Corporation (commonly known as the CMHC) has released their Housing Market Outlook Report and things are looking good for British Columbia Landlords in 2014.

BC Economic Outlook for 2014

The CMHC report see’s our economy expanding at 2.5% which is ahead of the rest of Canada.

It’s also an improvement over the past year.

There will increased business investment and consumer spending.

There will be a shift to more full-time employment and increased job growth.

There will be more first-time home buyer demand and also more rental demand.

 

More Newcomers Are Coming

 

Net migration into BC growing.

 

More than 40,000 newcomers are arriving and choosing our province as their new home.

 

This is good news as it means more tenants for Surrey landlords and Vancouver landlords.

 

Housing Market Outlook

 

There will be over 9,000 new single detached homes in our province in 2014.

 

There is a new focus on more dense housing styles and increase building of such properties.

 

The average price of a property on the MLS listing service is expected rise by at least $4000.

 

Challenges for Residential Rental Property Investors and Landlords

 

While overall figures are very positive, residential property investors and landlords still face challenges.

 

Two of the most daunting challenges for BC landlords are:

 

1. Bad Tenants

 

Landlords and Property Managers must take note of the rise of stories regarding bad tenants.

 

Tenant screening by BC landlords is more important than ever before.

 

Even if you have to leave your property vacant and lose a month or two of rent money it is still far superior to renting to a bad tenant which could lead you to lose thousands of dollars in lost rent and damages.

 

2. Low Rent Increase Guideline

 

British Columbia landlords are only allowed to raise the rent by 2.2% in 2014.

 

This is a very low increase and historically low.

 

Where do we stand compared to other provinces and their rent increase guideline?

 

1. Alberta

 

Alberta landlords do not have a legal rent increase guideline and raise the rent as much as they want

 

2. Manitoba

 

Manitoba landlords can raise the rent 2.0% in 2014.

 

3. Ontario

 

According to the Toronto Sun, Ontario landlords can only raise the rent 0.8% in 2014.

 

This has created a lot of controversy in that province.

 

You can see it from the demands from Ottawa landlords and landlords an investors in Barrie to demand a change to the system and higher rent increases in the future.

 

How Do Things Look for British Columbia Landlords in 2014?

 

There are definitely challenges ahead.

 

These include the low rent increase guideline and the increase in bad tenants attempting to ‘play the system’ and rip off residential landlords.

 

Overall the market looks to rebound in 2014 and if landlords make sure they screen their tenants carefully things are looking bright in the new year.

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British Columbia Landlords: Tenant Insurance

December 17th, 2013 · British Columbia Landlords, Tenant Insurance

 British Columbia Landlords Tenant Insurance

What are your most important concerns as a homeowner in British Columbia?

For most homeowners who are landlords we think your biggest worry is probably finding good tenants from your rental property.

After all, if you don’t rent to good tenants and put bad ones in your rental property it can leads to months of lost rent, thousands of dollars in damages and huge stress as this B.C. landlord found out.

When it comes to losses due to damages what do you think of?

What About Your Tenants?

What do you think are the top concerns of your tenants?

We bet good tenants are concerned about the safety of their rental property, managing to pay rent on time, and getting along with their landlord and other tenants.

Yes, landlords here are still expected to pay their rent (something Ontario landlords complain they don’t have in their province).

But what are tenants most concerned about when it comes to potential damage to their personal property?

A New Poll Just Came Out

A new poll from Canadian Direct Insurance has some answers.

The biggest concerns according to the poll were:

1. Concerns about Fire

2. Worries about someone stealing from them

3. The dangers of flooding

4. A major earthquake

Tenant Insurance

One of the most interesting things found in the poll was that only 43 percent of the renters surveyed had tenant insurance.

Considering the importance of tenant insurance this number is far too low. Tenants should get insurance to protect themselves.

BC Landlords: Educate Your Tenants

This is a great opportunity for British Columbia landlords to educate your tenants on the importance of them buying low-cost tenant insurance.

Many tenants don’t think they need insurance because they think they don’t have anything valuable enough to deserve coverage.

Tenants don’t realize tenant insurance will protect them in case of horrible situations such as a fire.

There is a great thread here where landlords and tenants debate the merits of tenant insurance.

It’s great to see some tenants who originally thought they didn’t need tenant insurance and some who even said it was a waste of money changed their minds.

They changed their minds when it was clearly explained how it protected them and was something of value.

By educating their tenants, landlords are helping tenants protect themselves and their belongings.

And tenant insurance is affordable. Tenants can get coverage for around $20 per month.

To Discuss This And Other Important Issues Go to the British Columbia Landlords Forum

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British Columbia Landlords Tenant Screening: Credit Checks

November 23rd, 2013 · Tenant Credit Check, Tenant Screening

 British Columbia Landlords Association Tenant Screening Credit Check

 Landlord Loses $20,000 After Renting To A Family With Only A Job Reference Check (No Tenant Credit Check) And the Job Turned Out to Be Fake

In our last blog we wrote about the great opportunities out there for British Columbia landlords.

With real estate prices high, lots of great tenants are looking for nice rental properties run by professional landlords.

Be Careful When Choosing Your Tenants

There are also lots of not-so great tenants out there.

A story earlier this year from CBC News on landlord Margarita Loyola is a must read for all residential landlords.

Loyala owns a rental property in Victoria.

She says the system for BC landlords is broken.

After finally evicting her tenant she has lost over $20,000.

This includes lost rent, all her legal costs, and to make repairs and clean up her investment property.

Loyola said the tenants left her place a disaster

For example, there was so much garbage you needed to hire two garbage trucks just to get rid of it.

Another $1,200 expense.

What Happened?

Loyola saw on ad on Craigslist.

Orion Alexander Holtby said he and his family needed to rent a home.

His said his last landlord was a ‘bad landlord’ and he, his wife and two children were victims and needed a place fast.

She felt sad for them and said she would consider renting to them.

Poor Tenant Screening

Holtby said he worked as computer software expert and gave the telephone phone of his work as a reference.

The landlord contacted the reference and was told Holtby would be a wonderful tenant.

Based on this, she rented her property to the Holtby family.

It Was Fake

After the tenants moved in Loyola received a call from her bank.

She was informed the check for rent for the month of September bounced.

Loyola sensed something was up and called Holtby’s place of work.

She found while the phone had worked before when she called the reference now that she had rented to him the phone number had been disconnected.

Didn’t Pay One Cent of Rent For Four Months

After moving in and having the cheques bounced the tenants refused to pay one cent of rent.

No rent, and damages and huge clean up costs after they were finally evicted.

Landlord Looks Back At Her Mistake

Holtby had been evicted by six other landlords since 2010.

The landlord says she was set up by a tenant who knew how to play the system.

How Can A Landlord Avoid These Tenants and Find Good Ones?

The key is good tenant screening.

Pro tenants are clever and crafty and growing in British Columbia.

These bad tenant stories don’t only happy in Ontario anymore.

Like in the case above, these ‘tenants from Hell’ have convincing stories and have people ready to give good references.

They know how to play ‘the game’ and have a lot of experience ripping off landlords. 

An important part of tenant screening is to always do a tenant credit

People can lie.

Pro tenants can lie very well.

Credit Checks don’t lie.

It doesn’t matter if you are a landlord in Vancouver, Kelowna, Surrey or any where else in the province, you need to be careful these days.

A tenant credit check is a way to see a prospective tenants financial past.

You can see where a tenant works (and has worked).

You can also see if they pay their bills on time and if they have any collections agents chasing them for money owed.

Your Professional Tenant Screening System

A Landlord is out over $20,000 because she rented to a bad tenant.

She could have avoided renting to these pro tenants with property tenant screening, including a tenant credit check.

You can do tenant credit checks fast and easy and at a low price by becoming a member of the BC Landlords Association Site.

Screen properly and make sure you rent your property to good tenants (and avoid the pros!)

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British Columbia Landlords

October 25th, 2013 · British Columbia Landlords

 British Columbia Landlords Welcome

Welcome all British Columbia Landlords.

This blog is here to help residential landlord all over the province.

No matter if you are a huge landlord company with thousands of units.

Or if you are a new landlord renting out your new basement apartment for the first time!

We represent landlords, including the biggest players and the smallest.

What’s This Website All About?

There have been a lot of challenges for British Columbia landlords this year.

We don’t think landlords should be harassed and abused when following the law and evicting bad tenants.

We think it’s unreasonable landlords can only raise the rent 2.2 percent in 2014 when our taxes and costs continue to rise.

We want the Residential Tenancy Branch to be fair to landlords and treat us with respect.

As landlords ourselves we think it’s time landlords in British Columbia started networking and sticking together for our mutual goals and success.

We are an important partner with the BC Landlords Association.

We are a key partner and we want more British Columbia Landlords to stick together.

Goals for British Columbia Landlords

As landlords in the area we think your goals are shared by others.

-We are responsible landlords and want to find responsible tenants who take care of our properties, respect us, and   pay the rent.

-We rent to students and want to learn how to best screen them and make sure they don’t harm our properties.

-We want to make sure the city, the fire department, and the bylaws department work with us as a team instead of viewing us as an opponent.

-We want to learn tips, network, and learn from each other so we can avoid the bad tenants out there and succeed.

Tenant Screening

We offer landlords the most amazing tenant screening.

For example, we offer premium Credit Checks.

We also offer premium Criminal Checks.

Why are Credit Checks and Criminal Checks Important?

Make sure you know who you are renting to.

There are lots of cases of landlords renting to tenants who owe rent, and / or do thousands of dollars in damages.

Make sure you protect yourself and protect your business.

To Discuss This And Other Landlord and Tenant Issues Go to the Free BC Landlords Forum

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