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Tenant Credit Check

April 15th, 2014 · No Comments · Landlords Ontario, Tenant Credit Check

Landlord Ontario Tenant Credit Check

Make Sure You Check Your Tenant’s Credit Before Renting To Them

Being a successful landlord depends a lot of who you decide to put into your rental unit.

A story at the Ontario landlords blog is all about renting to good tenants.

After all, ‘bad tenants’ have been in the news a lot over the past week.

According to CBC News some renters are being called ‘serial bad tenants’ because of their string of ripping of small residential landlords over the past couple of years.

British Columbia landlords were surprised to see this story on their nightly newscast.

Serial Bad Tenants

The tenants in question are a couple who look just your average everyday partners.

Lots of small landlords interviewed them and believed their story that their last landlord took their rent money and deposit and vanished.

The couple would give cheques to their new landlords and move in.

After starting their tenancy, the landlords would eventually find the cheques all bounced.

This means the landlords didn’t receive a cent of rent.

The couple (who were now living in the rental property) would refuse to pay and the landlords would be stuck having to go through the ‘system’ to try to evict them.

Tenant Credit Checks

All the BC landlords in the CBC story share one thing in common (besides the area they live in.)

None of the landlords did a credit check on their tenants.

This could be due to the fact that landlords out west aren’t really used to these kind of serial professional tenants.

Vancouver landlords are often surprised when they read about these types of landlord-tenant problems near their beautiful city.

We have also seen many Alberta landlords take tenant screening lightly and end up with big problems due to the tenants they chose to rent to.

Seeing is Believing

A Toronto landlord wrote in commenting on the story:

“I can’t believe these landlords didn’t do better checking of these serial renters. You can’t just have a short talk and decide to rent to them. You also need cash or a certified check!”

An Ottawa landlord emailed us:

“One of the landlords who is out thousands said she should have done a reference check.

As if a reference check would have helped! I had tenants use their friends as references, it’s an old trick! BC landlords should wake up.”

Make Tenant Credit Checks Part Of Your Tenant Decision Making Process!

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