The Toronto Star says join a group such as the Ontario Landlords Association where after becoming a member, you can do a credit check for as low as $10, and use their supporting materials to assist you
Many Ottawa landlords were surprised when the Ontario Ministry of Municipal Affairs and Housing announced residential landlords can only raise the rent on existing tenants by 1.6% in 2015.
It’s very low. Especially as the costs for landlords keep increasing each year.
While some rental properties do not have to follow the Rent Increase Guideline, most do and with the way properties taxes are going up, the price of gas, the price of electricity, the increasing fees of plumber, electricians, and contractors, etc. the guideline is simply too low.
And we also face the challenge that some Ottawa landlords might be required to get a landlord license from the City.
Renting To Good Tenants
With the allowable rent increase so low it’s more important them ever to make sure you rent to good tenants who will pay their rent on time and take care of your investment property.
How Can I Rent To Good Tenants?
Any who reads the news knows that while there are a lot of great tenants out there, professional tenants who want to rip you off and live rent free for months (or years) also exist.
For example, ‘Tenant From Hell‘ Nina Willis is fighting her seventh landlord now, trying to continue to live rent free and use and abuse the system.
Toronto Star Advice For Landlords
Last week there was an excellent article in the Toronto Star with advice on how Ontario Landlords can make sure you rent to good tenants.
It’s full of good ideas for Ottawa landlords.
Facebook and Social Media
For example, the article suggests landlords use social media as a way to learn more about potential renters. Take a look at Facebook and see if your applicants really do have pets or not.
Another good idea is to make sure you tell potential tenants you will run background checks and tenant credit checks. This will weed out tenants who don’t want their background or credit history looked in to.
The Toronto Star also recommends joining the Ontario Landlords Association
Credit checks and using good documents such professional leases and applications are important for landlords to succeed.
The Toronto Star says “join a group such as the Ontario Landlords Association where after becoming a member, you can do a credit check for as low as $10, and use their supporting materials to assist you.“
It’s a great recommendation because to join the Ontario Landlords Association you only pay a one-time registration fee (no annual fee).
Once you become a member you get:
1. Start Using the Best Tenant Credit Checks
Access to premium credit checks for only $10/check.
You can also start running “full credit checks” on tenants with no annual fee or site inspection. These “full credit checks” will provide you with a detailed financial history on the people who want to rent your property. It’s the ultimate Ontario landlord credit check.
2. A Rental Kit Full of Premium Documents
Amazing leases, applications, notices and everything you need to succeed. Don’t use generic leases or leases from OREA which are not battle tested for landlords at the Landlord and Tenant Board and Ontario Small Claims Court.
Network with other landlords and property managers on the Private Members forum with over 12,000 posts.
Ottawa Landlords – Find Good Tenants. Join the Ontario Landlords Association for Only a One-Time Registration Fee! That’s right, no annual fee!