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Ontario Landlords Association: Tenant Credit Checks

January 18th, 2014 · No Comments · Equifax, Tenant Credit Checks

 Ontario landlords association tenant credit check rules

Are you using a friend or relative who is a real estate agent, a mortgage agent, a bank teller, an insurance agent, a car dealer or someone else to do tenant credit checks?  You can’t!

A recent post on the Ontario Landlords Association is urgent and essential reading for landlords across Ontario.

Managers from Equifax have said landlords who are doing tenant credit checks from friends and relatives are breaking the rules and could get fined!

Tenant Credit Checks Are Important

The news has been filled with reports of bad tenants costing landlords thousands of dollars in lost rent and damages.

The Ontario Residential Tenancies Act is unfair and biased against landlords and supports bad tenants.

Even a Supreme Court Judge agreed and demanded the government make changes (they won’t).

Bad Tenants All Over Canada

Look at these Barrie landlords and the issues they face.

And Ottawa landlords.

It’s not just in Ontario

Bad tenants are manipulating the system and abusing small landlords all over Canada.,

For example, this British Columbia landlord lost thousands of dollars in lost rent and damages.

And this Alberta Landlord had racist tenants who not only didn’t pay rent, the wrote horrible racist comments on the walls of the rent before moving out!

Landlords Using Friends and Relatives To Do Tenant Credit Checks

Not that the Ontario Landlords Association and the Ontario Landlords blog has got the word out about the important of tenant credit checks many landlords are reading and agreeing.

And many landlords across Canada are trying to save money by using a friend or relative to do the checks.

These relatives and friends may be:

1. Real estate agents

2. Mortgage agents or brokers

3. Car dealership employees

4. Bank tellers or managers

5. Insurance agents or brokers

Wrong Move!

Equifax Canada explains this is against the rules and laws and can lead to your friends or relatives having big problems.

You see if your tenant agrees to a tenant credit check, you need to use a tenant check provider to do it.

And mortgage brokers can only do credit checks on people who want mortgages.

Realtors can only do credit checks on people who want to buy properties.

Insurance brokers can only do credit checks on people who want insurance, not on people who want to rent your basement apartment!

Ontario Landlords and the Law

Tenant credit checks are an important part of the screening process.

Make sure you follow the rules and use a legal tenant credit check provider to conduct your tenant credit checks in 2014!

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